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Gran Colombia provides update on Mazamorras Property

Oct 12, 2011

TORONTO, Oct. 12, 2011 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM) Gran Colombia announced today that its Mazamorras exploration camp was attacked by unknown invaders, with considerable damage caused to the buildings there by fires set by the invaders. The Company is currently evaluating the extent of the damage and the effect it will have on the drilling program underway at the property. None of the Company's employees or contractors were injured in the attack.

Mazamorras is an exploration property located in the Department of Nariño in Colombia, and is not a producing property. As such, the damage caused has not affected the Company's production at its properties in Segovia or Marmato.

The Company will provide an update once the full extent of the damage at Mazamorras is known.

About Gran Colombia Gold Corp.:

Gran Colombia is a Canadian-based gold and silver exploration, development and production company with its primary focus in Colombia.  Gran Colombia is currently the largest underground gold and silver producer in Colombia with six underground mines in operation.  In addition, Gran Colombia is also developing a large-scale, open-pit gold and silver mine at Marmato.  The Company also has a highly-prospective land position in Colombia as well as an advanced stage property in Venezuela and earlier stage properties in Mali.

Cautionary Statement on Forward-looking Information

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company, its projects and the proposed use of proceeds from the Offering. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For further information:

Investor Relations
(416) 360-4653