Mr. Frank Basa reports

GRANADA ANNOUNCES PRIVATE PLACEMENT

Granada Gold Mine Inc. has arranged a non-brokered private placement offering of 2.2 million units at a price of 10 cents per unit for gross proceeds of up to $220,000. Each unit comprises one common share of the company and one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the company at an exercise price of 15 cents per share, for a period of two years from closing, subject to TSX Venture Exchange approval.

The proceeds of the private placement will be used for surface exploration, trenching and historical resampling of drill core on the company's Granada gold property in Quebec and for general working capital purposes.

All securities issued in connection with the private placement are subject to a four-month-and-one-day hold period in accordance with applicable securities laws.

About Granada Gold Mine Inc.

Granada Gold continues to develop the Granada gold property near Rouyn-Noranda, Que. Approximately 120,000 metres of drilling have been completed to date on the property.

We seek Safe Harbor.