GCM Mining : 2021 Sustainabiliy Report (English)

2 0 2 1 S U S TA I N A B I L I T Y R E P O R T

2	GCM Mining 2021 Sustainability Report	About GCM Mining	Executive Messages	Approach and Governance	Our People	Environment	Community Relations	Performance

About GCM Mining	3
CEO Message	5
Board ESG Committee Message	6
Approach and Governance	7
Our People	12
Environment	16
Community Relations	22
Sustainability Performance	30

About This Report

GCM Mining Corp.'s 2021 Sustainability Report is the second Environmental, Social, and Governance (ESG) statement developed under the "Sustainability Accounting Standards Board" (hereinafter referred to as "SASB") metrics.

This report reflects GCM Mining Corp.'s (hereinafter referred to as "GCM", the "Company", "we" or "us") efforts to disclose its priorities, approaches and performance in relation to the environment, social issues, and corporate governance.

The parameters guiding this report were developed pursuant to the information delivered by each of GCM's operating or functional areas.

Where applicable, key parameters have been aligned with the SASB Metals and Mining Standard for the mining and metals sector.

This year we incorporated the Global Reporting Initiative (hereinafter referred to as "GRI") standard on a specific aspect, the Artisanal Small-Scale Mining (ASM) sector.

This report describes the performance of our active Colombian-based operations in Segovia and Remedios during the period from January 2021 to December 2021.

PricewaterhouseCoopers LLP (hereinafter referred to as "PwC") has performed a limited assurance engagement for a select number of GCM performance indicators. Throughout this Sustainability Report, metrics that have received assurance are identified with the symbol (A). Read more about the scope of PwC's work, including the metrics in scope of the assurance, on page 33.

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CEO Message

Environment

6 22

	Board ESG	Community Relations
About GCM Mining	Committee Message
7	12	30

Approach and Governance

Our People

Sustainability Performance

3	GCM Mining 2021 Sustainability Report	About GCM Mining	Executive Messages	Approach and Governance	Our People	Environment	Community Relations	Performance

ABOUT GCM

MINING CORP.

We are a mid-tier gold producer and publicly traded Canadian company (TSX: GCM;

OTCQX: TPRFF) operating in Latin America. In Colombia, we are currently the leading high-grade underground gold and silver producer, with operations in the Municipalities of Segovia and Remedios. In Guyana, we are advancing the Toroparu Project, one of the largest undeveloped gold projects in the Americas, which is expected to commence production in 2024.

Our Segovia Operations in Colombia have produced more than 1.5 million ounces of high-grade gold since we commenced operations just over 11 years ago, and over 6 million ounces of gold over its 100+ year history. At GCM, we are committed to delivering value for our shareholders, while simultaneously generating economic and social benefits for the municipalities in which we operate, promoting a healthy and safe work environment, and reducing our environmental footprint.

4	GCM Mining 2021 Sustainability Report	About GCM Mining	Executive Messages	Approach and Governance	Our People	Environment	Community Relations	Performance

O P E R A T I O N A L D A T A O F I N T E R E S T

Guidance Achieved

The Company met its production guidance for the sixth consecutive year in 2021. The total production at Segovia during 2021 was 206,389 ounces of gold, an increase of 5% compared to 2020.

Mineral Resources

The Company replaced more than the mineral resources it mined in 2021, representing the sixth consecutive year that its ongoing exploration campaigns have, at a minimum, replaced the mineral resources mined at its Segovia Operations and extending the life of the operation.

Increased Revenue

GCM's revenue totaled US$377.5 million, reflecting an 8% increase compared

to last year.

Shareholder Dividends

During 2021, the Company returned about US$17.0 million to shareholders through its monthly dividend and normal course issuer bid purchases of its common shares for cancellation.

Company Renaming

On November 29, 2021, the Company changed its name from Gran Colombia Gold Corp., to GCM Mining Corp., to reflect its strategy of growth through diversification. Currently, it is expanding its operations and investments to other countries and broadening its products to include other metals beyond gold and silver, while returning value to its shareholders through its monthly dividend program.

Updated Assessments

In December 2021, the Company completed an updated mineral resource estimate ("MRE") and preliminary economic assessment ("PEA") for its 100%-owned Toroparu Project

in Guyana.

Diversifying Revenues

The Company is diversifying its revenue profile through a new polymetallic metal recovery plant which recovers zinc and lead concentrates derived from tailings at its Segovia Operations.

A W A R D S

2021 International Business Award (Bronze) in the Video Corporate Overview category, for our video "Beyond Gold."

31st place (up from 36th) in the Top 40 Canadian Miners 2020, announced on August 16, 2021.

5	GCM Mining 2021 Sustainability Report	About GCM Mining	Executive Messages	Approach and Governance	Our People	Environment	Community Relations	Performance

CEO Message

In 2021, we accomplished what we set out to achieve. We met our production guidance for the sixth consecutive year. With solid results in our drilling campaign, our exploration program at Segovia allowed

"I want to highlight and extend my gratitude to GCM's workforce in uniquely contributing to value generation and well-being."

I am pleased to share with our readers and stakeholders GCM's second Sustainability Report, developed in alignment with the SASB Metals and Mining Standard. This year we are also proud to include the standards on Artisanal Small-Scale Mining (ASM), developed by the Global Reporting Initiative (GRI).

Mr. Lombardo Paredes Arenas

Chief Executive Officer

us to not only replace what we mined last year, but also contribute significant increases in our mineral reserves and resources. We also advanced the expansion of our Maria Dama processing plant and we commenced operations at the new polymetallic plant at Segovia.

It is evident that the operation's ESG focus has largely been on improving employee safety as well as commiting to the environment and actions against climate change. As we incorporate these elements into our operations, we acknowledge the effort, work, and dedication of each one of our employees. I would like to extend my gratitude to our employees for embracing and supporting the changes that come with implementing our ESG initiatives.

The pandemic has highlighted the importance of healthcare for our workers, their families, and the stakeholders in the areas where we operate. We were able to supply 12,780 vaccine doses to our employees, their families, contractors and subcontractors, and the members of the ASM units, among others. We have achieved vaccination coverage of 99.6% in the initial cycle and 77% coverage in booster shots for our direct and temporary employees. As a result, we have vaccinated close to 20% of the population in the municipalities where we are located.

We carried out a materiality analysis in 2021, allowing us to validate that our primary ESG focus areas are aligned with those of our stakeholders. We also reflected on our commitments with our different stakeholders, to measure our performance on ESG metrics. We identified issues which hold a higher level of materiality for our stakeholders: climate change, local community relations, water use and management, tailings management, working conditions, and responsible mining practices. We have established robust action plans to address and improve the aforementioned ESG metrics.

Regarding the promotion and protection of human rights, GCM has been working on the development of its reports for the Voluntary Principles on Security and Human Rights. This process began in 2021 and will end by mid-2022.

I am very pleased to showcase in this report our action plan with our ASM miners as well as the construction and operation of our new polymetallic plant. We are proud to have signed 61 operation contracts from such miners in the last 10 years, which in turn led to 2,900 formalized miners and more than 33,000 ounces of gold produced in 2021 by such miners. This initiative has demonstrated notable social and environmental impacts and has simultaneously created value in the areas where we operate.

We added new revenue diversification through the new polymetallic plant allowing us to find a way to take advantage of residual heavy metals found in our tailings. The plant serves a two-fold purpose; by extracting heavy minerals (lead and zinc), we benefit from the added revenue while making a positive environmental impact.

Finally, we will apply our sustainability model to our recently acquired Toroparu Project in Guyana. This project provides us the opportunity to implement our operational and ESG mining practices that have proven to be successful, in this host country. These include, but are not limited to, evaluating logistics, adequately managing environmental issues that may arise, and closely working with the local ASM stakeholders. We hope to conduct a materiality analysis in Guyana, to design and implement programs and action plans that will meet the needs of our stakeholders and Company.

I hope you enjoy our 2021 Sustainability Report.

Lombardo Paredes

CEO, GCM Mining Corp.