Aris Mining Corp (ARMN)

[NYBob]

Gran Colombia Gold Announces Updated Mineral Resource Estimate and Preliminary Economic Assessment for Its Marmato Project
October 15, 2019
TORONTO, Oct. 15, 2019 (GLOBE NEWSWIRE) --

Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today that
it has completed an updated Mineral Resource estimate for its
Marmato Project prepared in accordance with the Canadian Institute of
Mining Metallurgy and Petroleum (“CIM”) Definition Standards
incorporated by reference in National Instrument 43-101 (“NI 43-101”)
with an effective date of July 31, 2019.

Gran Colombia also announced today that SRK Consulting (U.S.), Inc.
(“SRK”) has completed preliminary results of a Preliminary Economic
Assessment (“PEA”) for the Marmato Project, focused on the Zona Baja
mining operations, effective July 31, 2019, and is currently finalizing
the technical report to be filed on SEDAR and the Company’s website by
the end of November 2019.

Serafino Iacono, Executive Chairman of Gran Colombia, commenting on
the preliminary results of the Marmato technical study, said,
“We are very pleased to have reached the point at which we can see
a path forward to significantly expand production from our
Marmato Project and, through the recently announced spin out,
create value for our shareholders while protecting our capital
structure and balance sheet.

The PEA charts a course whereby the immediate implementation of an
optimized mine plan in the upper existing mine at Marmato, much like we
did a few years ago at Segovia, will increase production and free cash
flow starting in 2020.

Concurrently, we will commence the development and construction
activities in the new Deep Zone, which should come on stream in 2023,
further increasing total gold production which reaches more than
150,000 ounces annually from 2024 through 2027 and then averages more
than 100,000 ounces annually over the next nine years of operation.

We expect to complete the transaction with Bluenose and the equity
private placement in December and we are proceeding with the
prefeasibility study to be finalized by mid-2020.”

On October 7, 2019, Gran Colombia announced that it had entered into
a letter of intent with Bluenose Gold Corp. (TSX-V: BN.H) (“Bluenose”)
in respect of the proposed acquisition by Bluenose of certain mining
assets (the “Mining Assets”) at the Company’s Marmato Project located
in the Department of Caldas, Colombia.

The Mining Assets principally comprise the existing producing
underground gold mine, including the right to mine in the lower portion
of the Echandia license area, the existing 1,200 tonnes per day (“tpd”)
processing plant and the area encompassing the Deep Zone
mineralization, all located within the mining license area referred
to as Zona Baja.
Gran Colombia will retain its existing ownership of the mining licenses
in the areas known as Zona Alta and Echandia.

http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2019/Gran-Colombia-Gold-Announces-Updated-Mineral-Resource-Estimate-and-Preliminary-Economic-Assessment-for-Its-Marmato-Project/default.aspx

Latest Presentation
Corporate Presentation- October 2019
October 16, 2019
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http://s21.q4cdn.com/834539576/files/GCM-October-2019.pdf

http://www.grancolombiagold.com

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