Mr. Frank Basa reports

GRANADA GOLD ANNOUNCES APPOINTMENT OF NEW CFO

Heidi Gutte has been appointed as chief financial officer of Granada Gold Mine Inc., effective today, replacing the company's CFO, Remantra Sheopaul.

Ms. Gutte has nearly 15 years of experience with publicly traded mineral exploration and mining companies. She specializes in corporate finance, international financial reporting standards, audit preparation and response, tax optimization, and corporate compliance for the mineral exploration and junior mining sector. Ms. Gutte holds a bachelor's degree in computer engineering from the University of Applied Sciences in Brandenburg, Germany. She is a chartered professional accountant (CPA and CGA) and a member of Chartered Professional Accountants of British Columbia and Canada.

The company thanks Mr. Sheopaul for his contributions to the company and wishes him well in his future endeavours.

About Granada Gold Mine Inc.

Granada Gold 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 20,000 metres out of 120,000 m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate, assimilate existing data and wait for improved market conditions.

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 5-1/2 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.

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 1930s from two shafts before a fire destroyed the surface buildings. In the 1990s, Granada Resources extracted a bulk sample (pit No. 1) of 87,311 tonnes grading 5.17 grams per tonne Au. It also extracted a bulk sample (pit No. 2) of 22,095 tonnes grading 3.46 g/t Au.

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