High-grade structural views at Toroparu pit centre and NW edge

Gran Colombia Gold Corp. (TSX: GCM) raised its ownership of Guyana-focused Gold X Mining Corp. (TSXV: GLDX) to 100% from 15% through the purchase of all issued and outstanding common shares held by third parties.

Former Gold X shareholders converted their stock on the basis of 0.6948 Gran Colombia shares for each Gold X share in a transaction first announced in March.

As a result of the transaction, Gran Colombia now controls the Toroparu Gold Project in Guyana, where a 10,000m Phase 1 drilling program was completed in February. The program identified pipe structures yielding 5g/t to 20g/t Au to depths of 100m, and a second 10,000m program is now underway.

Gran Colombia will now proceed with an updated preliminary economic assessment for Toroparu.

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