Mr. Frank Basa reports

GRANADA AMENDS SHARES FOR DEBT

Granada Gold Mine Inc., further to its news release dated Dec. 2, 2022, has reached an agreement with a third party to repay the debt in the amended amount of $286,482.67 through the issuance of 5,729,654 shares in the capital of the company at a deemed price of five cents per share. The share-for-debt transaction remains subject to the acceptance from the TSX Venture Exchange.

All securities issued in connection with the share-for-debt transaction will be subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws.

About Granada Gold Mine Inc.

Granada Gold Mine continues to develop and explore its 100-per-cent-owned Granada old property near Rouyn-Noranda, Que., and is adjacent to the prolific Cadillac break. The company owns 14.73 square kilometres of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000 metres (2020 to 2021) out of 120,000 metres complete. The drills are currently paused to provide the technical team the necessary time to evaluate and assimilate existing data.

The Granada shear zone and the south shear zone contain, based on historical detailed mapping as well as from current and historical drilling, up to 22 mineralized structures trending east-west over 5.5 kilometres. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were eight to 10 grams per tonne gold from two shafts down to 236 metres and 498 metres with open-pit grades from 3.5 to five grams per tonne gold.

We seek Safe Harbor.