Mr. Frank Basa reports

GRANADA REPORTS ANNUAL GENERAL AND SPECIAL MEETING RESULTS

Granada Gold Mine Inc.'s 2023 annual general and special meeting was held today, Monday, July 17, 2023, and all resolutions were approved with over 99.45 per cent voting in favour in all categories. Resolutions passed are listed herein.

1. The following individuals were re-elected directors of the company: Frank J. Basa, Matthew Halliday and Dianne Tookenay;
2. McGovern, Hurley, Cunningham, chartered accountants, was reappointed as company auditor;
3. Adoption of the company's 10-per-cent rolling share option plan was ratified and approved;
4. The creation of a series of Class A preferred shares was approved;
5. The creation of a series of Class B preferred shares was approved.

The board of directors appointed the following officers of the company for the ensuing year:

• Frank J. Basa: president and CEO;
• Remantra Sheopaul: chief financial officer;
• Tina Whyte: corporate secretary.

Mr. Basa, Ms. Tookenay and Mr. Halliday were appointed members of the audit committee for the upcoming year.

Mineral resource estimate

On July 6, 2022, the company released an updated National Instrument 43-101 resource estimate for the Granada gold project (please see July 6, 2022, news release) with a combined total of 543,000 gold ounces of measured and indicated category and 456,000 gold ounces in inferred. This estimate contains 425,000 gold ounces of combined measured, indicated in pit resources with 24,000 gold ounces of inferred. For the underground 118,000 gold ounces of combined measured, indicated, with 431,000 gold ounces of inferred please see the first attached table for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, PEng, and Maxime Dupere, BSc, PGeo, SGS Canada Inc., with an effective date of June 23, 2022, and report date of Aug. 20, 2022.

About Granada Gold Mine Inc.

Granada Gold Mine continues to develop and explore its 100-per-cent-owned Granada gold 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 m out of 120,000 m complete. The drills are currently paused to provide the technical team with 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 m and 498 m with open-pit grades from 3.5 to five grams per tonne gold.

We seek Safe Harbor.