Mr. Frank Basa reports

GRANADA GOLD MINE ADVANCES STRATEGIC PARTNERSHIPS AND EXPANDS OPERATIONS

Granada Gold Mine Inc. has significant advancements in its operational strategy, reflecting the company's commitment to maximizing shareholder value and contributing positively to the region's economy. Following recent developments in our high-grade gold circuit and the pricing of essential equipment, Granada Gold Mine wishes to share the following key updates:

1. Letter of Intent (LOI) with Private Bidder: On March 28, 2024, Granada Gold Mine entered into a new Letter of Intent (LOI) with a private bidder for a local mill, marking a crucial step forward in our milling operations. This strategic partnership underscores our dedication to leveraging top-tier facilities to optimize our processing capabilities and enhance operational efficiency. If the bid is successful, we would have the opportunity to ship rock for custom processing.
2. Non-Disclosure Agreement (NDA): In pursuit of milling opportunities, Granada Gold Mine has signed a Non-Disclosure Agreement (NDA) with a prominent player in the mining industry. This agreement enables us to evaluate the potential utilization of their circuit for processing ores from Granada, opening avenues for collaboration and mutual benefit.
3. Expansion of Mining Leases: As part of our ongoing efforts to secure long-term viability and capitalize on favorable market conditions, Granada Gold Mine is in the process of adding to our existing mining leases. This expansion reflects our confidence in the rich potential of our resources and reaffirms our commitment to sustainable growth and development. This has set the stage for milling agreements, as we have the leases and permits in place.
4. CEO Statement: Frank Basa, CEO of Granada Gold Mine, expressed optimism and determination in navigating the company's path forward: "We are evaluating all the opportunities, and we are confident that we will find the best fit. We want to demonstrate that we have opportunities here, and we are working hard to find the best fit."

Granada Gold Mine remains steadfast in its mission to deliver value to stakeholders while upholding the highest standards of environmental responsibility and community engagement.

Qualified Person

The technical information in this news release has been reviewed and approved by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., who is 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 Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, which is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The Company is undergoing a large drill program with 30,000m out of 120,000m 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 twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.

Mineral Resource Estimate

On August 20, 2022 the Company released an updated NI 43-101 technical report supporting the resource estimate update for the Granada Gold project (Please see July 6, 2022 news release) reporting that the Granada deposit contains an updated mineral resource, at a base case cut-off grade of 0.55 g/t Au for pit constrained mineral resources within a conceptual pit shell and at a base case cut-off grade of 2.5 g/t for underground mineral resources within reasonably mineable volumes, of 543,000 ounces of gold (8,220,000 tonnes at an average grade of 2.05 g/t Au) in the Measured and Indicated category, and 456,000 ounces of gold (3,010,000 tonnes at an average grade of 4.71 g/t Au) in the Inferred category. Please see Table 1 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupere, B.Sc, P.Geo., SGS Canada Inc. dated August 20th, 2022 and with an effective date of June 23rd, 2022.

The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930's from two shafts before a fire destroyed the surface buildings. In the 1990s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.

We seek Safe Harbor.