Segovia, an old mining district with high exploration potential Colombia Gold Symposium Medellin, November 15, 2016 Alessandro Cecchi Vice President, Exploration 1
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Canadian listed (TSX: GCM) producer with offices in Toronto/Medellin. Currently the largest underground gold and silver producer in Colombia. Leading Colombian high grade underground gold producer. Very attractive entry point for common shares; undervalued versus peers. Gold production increased 18.5% to 117,000 ounces in 2015. projecting 144,000 150,000 ozs in 2016 122,000 ozs through October. AISC (full year average) below US$900/ oz for 2015. projecting < US$850/oz for 2016.$832/oz for 9 months YTD 2016. Upside in resource expansion and exploration assets. Advancing a project to expand and mechanize its high grade gold and silver mines at its Segovia Operations (~85% of total production). The Marmato Project, one of the Top 20 largest undeveloped global gold deposits, provides significant optionality to gold and silver prices with current resources in excess of 14M ozs of gold and almost 90M ozs of silver. Deep mineralization holds potential to add resources. The Zancudo Project, a former high grade producer, provides additional exploration upside. Successfully completed senior debt restructuring in January 2016; launched NCIBs in July 2016 to repurchase and cancel senior debt. 3
PROPERTY LOCATION Antioquia Dept. Segovia Remedios Mining District Mines currently operated by GCM: Providencia El Silencio Sandra K 4
MINING RIGHTS LOCATION The Mining Carla Project Title RPP comprises 140 straddles of 16 mining the historical titles covering Segovia about Remedios 6,000 Ha. Mining Included District. in the The project title covers is Title a 7367 total on area which of 2,871 the Carla Ha that was granted Mine is to located. FGM in perpetuity. 5
HISTORICAL PRODUCTION MINING FROM LATE XVI CENTURY GOLD PRODUCTION BY FGM Year Tonnes Gold Ounces Au grade (g/t) Silver Ounces 1869 1898 141,633 1899 1954 1,869,991 1,810,725 1957 2010 (Q1) 8,555,759 2,675,782 9.74 2,936,530 10,425,750 4,628,140 2,936,530 Source: FGM. Data is recovered ounces. GOLD PRODUCTION BY GCM Year Tonnes Gold Ounces Au grade (g/t) Silver Ounces 2010 149,214 50,313 11.38 2011 188,527 68,704 12.56 2012 260,420 79,178 11.02 2013 327,414 80,226 8.59 2014 237,738 74,507 10.64 2015 211,049 92,894 14.32 2016 1 209,295 91,435 13.74 1,583,657 537,257 11.48 12,009,407 5,165,397 9.97 SEGOVIA OPERATIONS A HIGH GRADE WORLD CLASS DEPOSIT 1 First nine months 6
REGIONAL GEOLOGY The Segovia Remedios Mining District is hosted entirely by the Segovia Batholith of Upper Jurassic age of diorite to granodiorite composition. 10 km 7
VEIN SYSTEM POTENTIAL 3 main mines 27 main known veins 8
STRUCTURAL CONTROL Gold mineralization The syn mineralization veins occurs in narrow fit in a single deformation quartz sulphide event of N S to NNE SSW veins hosted by a compression that generates potassic, sericite NNW dextral transpressional and intermediate shearing argillic altered wall rock. 9
EXPLORATION HISTORY HISTORICAL EXPLORATION Historical exploration data by FGM is limited to diamond drilling for resource development at the operating mines, underground mapping and sampling. The historical underground channel sampling database made available to GCM consists of more than 75,000 samples and is understood to incorporate data from the past 30 years. GCM EXPLORATION (2010 to date) The Company has implemented a surface geological mapping program of the property at 1:2,000 scale; The Company exploration staff finalized a underground channel sampling program at Providencia, Sandra K and Carla mines, in an attempt to verify historical underground data and increase the size of higher confidence quality control checked samples in the exploration database. Exploration diamond drilling to explore new targets and test extensions of known veins. 10
DRILLING PROGRAMS DRILLING PROGRAMS LAVS Sandra K Providencia Historical Drilling by FGM Total Number (m) holes Subtotal 60,452 574 2010 2013 Drilling by GCM Total (m) Number holes Providencia Mine 20,927 50 Sandra K/Chumeca Mine 8,992 40 Las Aves Vein System 27,032 89 Subtotal 56,951 179 Grand total 117,403 753 Carla 10,084 54 11
MINERAL RESOURCE ESTIMATE Statement for the Segovia and Carla Projects August 1 st, 2013 by SRK Consulting (UK) Limited GOLD M&I Inferred at 3 g/t Au cut off / using a gold price of US$ 1,400 oz. Tonnes Grade Ounces Tonnes Grade Ounces (kt) (g/t) (koz) (kt) (g/t) (koz) LONG TERM RESOURCES (LTR) Providencia 447 20.2 291 88 20.1 57 Sandra K 263 10.9 92 422 8.2 111 Carla 154 9.7 48 178 9.3 53 Las Verticales 771 7.1 176 El Silencio 681 11.6 254 Total Long Term Mineral Resource 864 15.5 431 2,140 9.5 651 PILLARS Providencia Pillars 616 19.2 379 Sandra K Pillars 77 12.3 31 14 14.4 6 El Silencio Pillars 1,309 9.7 406 Total Pillars Mineral Resources 77 12.3 31 1,939 12.7 791 Each of the mining areas have been sub divided into Pillar areas ( Pillars ), which represent the areas within the current mining development, and Long Term Mineral Resources ( LTR ), which lies along strike or down dip of the current mining development. 12
MINERAL RESOURCE ESTIMATE Very close to the average grade of the ore mined by GCM from 2010 to 2015 13
EXPLORATION POTENTIAL Mines in operation LAVS Providencia mine 14
EXPLORATION POTENTIAL Las Aves Vein System La Gina La Vega L4 Grades from the small mining activity corroborates the block model 15
EXPLORATION POTENTIAL Mines in operation El Silencio mine Fault K 16
EXPLORATION POTENTIAL El Silencio north fault block 17
EXPLORATION POTENTIAL Mines in operation Sandra K mine step out drilling infill drilling 18
THANKS 19