Mr. Sonny Janda reports

GRENVILLE GOLD CORP. PROPOSES CONSOLIDATION OF ITS COMMON SHARES

Grenville Gold Corp. intends to consolidate its issued and outstanding shares on a ratio of up to 1:5. Currently the company has 25,104,926 common shares issued and outstanding. Postconsolidation there will be 5,020,985 common shares issued and outstanding.

This share consolidation is being proposed in order to allow the company greater flexibility in future financings. The company reserves the option of not consolidating its shares or consolidating at a ratio less than the above mentioned.

Upon consolidation all fractional common shares of the company will be cancelled, furthermore all postconsolidation shares of the company will be rounded to the next lowest whole number if the first decimal place is less than five and rounded to the next highest whole number if the first decimal place is five or greater.

The consolidation will not affect any shareholders' percentage ownership in the company other than by the minimal effect of eliminating fractional common shares of the company, even though such ownership will be represented by a smaller number of shares. Instead, the consolidation will reduce proportionately the number of shares held by all shareholders, as well as any outstanding warrants and issued stock options.

The consolidation is subject to acceptance by the TSX Venture Exchange. Upon acceptance the company's transfer agent, Computershare, will provide shareholders with a transmittal letter form to be used for the purpose of surrendering their certificates representing the currently outstanding common shares to the company's registrar and transfer agent in exchange for new share certificates representing whole postconsolidation common shares of the company, if they so choose.

We seek Safe Harbor.