Mr. Frank Basa reports

GRANADA GOLD MINE'S 500-TONNE SURFACE BULK SAMPLE PRODUCES A 77.9 GRAMS PER TONNE GOLD CONCENTRATE

The continuing metallurgical test work at Temiskaming Testing Labs on Granada Gold Mine Inc.'s third, 500-tonne surface, bulk sample taken from the high-grade Vein One at the Granada deposit has returned a gravity concentrate of 77.9 grams per tonne gold.

Gold concentrate highlights:

• Concentrating of gold-bearing material: The concentration ratio was in the order of 48 (4,800 per cent) to a final grade of 77.9 grams per tonne gold concentrate from 1.47 grams per tonne gold gravity plant feed. Bag house dust was used for the test work to minimize the presence of any native gold in the feed material.
• Gold grades in feed sample and concentrate: The bag house material from the 500-tonne bulk sample returned an average feed grade of 1.47 grams per tonne gold and concentrate grade of 77.9 grams per tonne gold.

Frank J. Basa, PEng, president and chief executive officer of Granada Gold Mine: "Through meticulous bulk sampling, we are advancing crucial ore characterization that propels us closer to a decisive production commitment or rolling start. We are gratified to report that this comprehensive approach has unveiled increased grade beyond the constraints of conventional drilling results alone, affirming the robust potential of our project."

Granada Gold Mine remains confident in the potential of processing the mineralized material economically. With mining permits still in place, the company has begun an internal study for potential milling of the mineralized open-pit material.

Qualified person

The technical information in this news release has been reviewed and approved by Claude Duplessis, PEng, GoldMinds Geoservices Inc., a member of the Quebec Order of Engineers and a qualified person in accordance with the National Instrument 43-101 standards.

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., which 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 undergoing a large drill program with 30,000 metres out of 120,000 metres complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.

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