Gran Colombia Gold Corporation - (GCM)

[Tommy]

Serafino Iacono, Executive Co-Chairman of Gran Colombia Gold, Purchases 1,036,500 Shares of the Company

http://www.grancolombiagold.com/Newsroom/News-Releases/News-Releases-Page/News-Releases-Details/2012/Serafino-Iacono-Executive-Co-Chairman-of-Gran-Colombia-Gold-Purchases-1036500-Shares-of-the-Company1130043/default.aspx

TORONTO, June 28, 2012 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM) announced today that its Executive Co-Chairman, Serafino Iacono, has purchased an aggregate of 1,036,500 common shares of the Company on June 28, 2012 at a price $0.29 per share on the open market. As at today's date, Mr. Iacono holds 10,977,916 shares of the Company (representing 2.8% of the issued and outstanding shares).

Mr. Iacono commented, "This investment in Gran Colombia Gold is a direct reflection of my confidence in the Company's current and continued growth in asset value".