Gran Columbia - Ginebra Property Drill Targets Identified & Drill Program to Commence - Marmato Land Position Consolidated & Exploration Underway.

VANCOUVER, BC--(BUSINESS WIRE)--Nov. 27, 1995-- Gran Colombia Resources Inc. ("The Company") is pleased to announce that exploration on two of its more advanced properties in Colombia, GINEBRA and MARMATO is in full progress.

At Ginebra, geophysical surveys and bedrock channel sampling have outlined a 24 hectare area of mineralization with potential to contain a substantial open pitable resource.

A grid of 194 channel samples taken over this area have returned an average grade of nearly 2 g/t gold.

While geological interpretation and closer spaced sampling continue in this area, a first program of reconnaissance core drilling designed to advance the understanding of the deposit and test the continuation of mineralization at depth is planned to commence soon.

The drilling program at El Retiro will initially consist of 10 core holes, up to 250 meters deep, for a total of 1,500 meters. This first program is designed to advance the geological interpretation of the deposit, to outline the extension of the mineralized structure and test the continuation of mineralization at depth. The drilling target lies within the 604 hectares large El Retiro-Cueva Loca property in the central part of the 20,000 hectares concessions held by The Company in the Ginebra gold district.

The Ginebra gold district is located on the western edge of the Central Cordillera of Colombia at 2,000 meters elevation, 50 km. north-east of Cali, the capital of the Cauca Department.

The district has a long tradition of small scale gold mining and its geology has recently been reinterpreted as being favorable for the discovery of disseminated, large tonnage, bulk mineable gold deposits.

Geophysical and soil geochemical surveys have outlined other areas of interest within the El Retiro- Cueva Loca property over which detailed work will soon start.

The Company expects preliminary drill results to be available in late January 1996, assuming all permits are received shortly.

MARMATO

In the Marmato gold district, The Company has recently been granted a new block of 5 concessions bringing the total holdings in the district to 16,000 hectares of very prospective ground. More significantly, with the addition of these new concessions, The Company now holds a predominant exploration position in the district's best known mining area (as shown in the accompanying map). The Marmato gold district is located on the eastern side of the Western Cordillera of Colombia, 60 km. south-west of Medellin, the capital of the Caldas Department. This district is said to be one of the most famous pre-colonial gold, silver mining camps in the country where small scale mining is still very active in areas surrounding the old colonial town.

Marmato, initially interpreted as a porphyry-gold system, now appears to be a vein swarm type deposit not dissimilar to many deposits in Mexico and Peru. While artisanal mining of the past and present was entirely focused on multiple high grade but small sulphide veins, The Company's target is the disseminated mineralization which normally extends into the wall rocks.

The primary target in Marmato is the old underground mine of Enchandia operated by a British company in the 1930's which mined high grade gold-silver veins.

Three of the oldest and most developed adits, now rehabilitated, are being channel sampled. Initial results in the Las Palmas adit, as can be seen in the accompanying figure, show a continuous mineralization of nearly 1 g/t gold over a wall distance of 88 meters containing a section of 33 meters at 1.5 g/t gold.

These grades could support a large open pit which could be amenable to low cost heap leaching operations.

Gran Colombia Resources Inc. has established itself in Colombia with several advanced stage exploration gold projects and has a number of earlier stage exploration properties. Gran Colombia Resources Inc. has one of the largest land positions in various prospective areas in Colombia. The Company is listed on the Canadian Dealing Network and trades under the symbol "GCRI".

NOTE: Location map available from the Company at the phone number listed above.

NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

CONTACT: Messrs. Serafino Iacono or

Mauro E. Coppola

Tel: [phone]

Fax: [phone]

or

Stephen R. Dattels

Tel: [phone]

Fax: [phone]