Granada Gold Mine Inc (GGM)

Granada Gold Mine Advances On-Site Processing Authorization for Gravity Concentration at Granada Gold ProjectMay 26, 2026 9:01 AM
NewsfileCompany Engages Environmental Engineering Company to Prepare Authorization Modification Under Quebec's Environment Quality Act, on-site Gravity Concentration of Bulk SampleRouyn Noranda, Quebec--(Newsfile Corp. - May 26, 2026) - Granada Gold Mine Inc. (TSXV: GGM) (OTC Pink: GBBFF) (FSE: B6D) (the "Company" or "Granada") is pleased to announce the engagement of an Environmental Engineering Company ("EEC") to prepare and file an Authorization Modification Request under Article 30 of the Québec Environment Quality Act ("EQA") to add on-site gravity concentration to the Company's existing Certificate of Authorization for the Granada Gold Project located near Rouyn-Noranda, Québec. The application will seek to amend the Company's current authorization, which permits the mining of the mineralized material, to include on-site gravity processing technology housed within a dedicated facility at the mine site.The authorization modification represents the first formal infrastructure permitting step in the Company's Rolling Start development pathway and establishes the regulatory foundation for on-site processing at Granada. The Company currently holds a Certificate of Authorization from the Québec MELCCFP (formerly MDDELCC) authorizing the partial exploitation of the Granada Gold site, covering four open pits, two waste rock stockpiles, one mineralized material stockpile. The existing authorization, originally issued in 2016, covers mining and extraction infrastructure only. The proposed modification would add a processing facility to the permitted site, enabling the Company to evaluate on-site gravity concentration as a production pathway alongside toll milling alternatives. The Company is also advancing a mineral resource estimate update with GoldMinds Geoservices Inc. (see news release dated May 19, 2026).On-Site Processing Facility and Authorization ScopeThe proposed on-site facility will consist of a dome structure laid on a crushed-rock-and-membrane foundation, intended for seasonal operation of gravity concentrators. Gravity-based mineral separation technology that upgrades ore through physical processes (density-driven particle separation using water and centrifugal force) without the use of chemical reagents in the concentration step. The concentration process will be accompanied by a water treatment circuit comprising a settling pond within the dome, an external polishing pond, and a flocculation and precipitation treatment stage designed to manage suspended solids and dissolved metals. The facility is designed as a closed-loop system with no anticipated water discharge to the surrounding environment.The residue from the concentration process is expected to be non-deleterious and to hold resale value as a construction aggregate, consisting essentially of crushed rock that has undergone physical separation only. The Company intends to characterize the residue in consultation with the MELCCFP to determine the appropriate regulatory classification and requirements. The concentrate produced on site is intended for further metallurgical evaluation and recovery, including through the Company's ongoing optimization work with SGS Lakefield.The on-site gravity concentration step is complementary to the ore sorting results announced on April 28, 2026, which demonstrated a 2.7x gold-grade uplift with 88 percent gold recovery using XRT sorting. When combined in sequence, ore sorting followed by gravity concentration, these pre-concentration technologies have the potential to significantly reduce the volume of material requiring final processing, with direct implications for capital intensity, operating cost per recovered ounce, and the economics of a stand-alone processing operation at Granada."This authorization modification is the bridge between an exploration project with a permit and a project with processing infrastructure on the ground," stated Frank J. Basa, P.Eng. Ontario, President and CEO. "Our existing authorization already covers extraction of mineralization. Adding gravity concentration on site means we can begin producing a gold-bearing concentrate from our own property using proven, low-capital-intensity technology that generates a residue we expect to be non-deleterious, essentially crushed rock with potential resale value as construction aggregate. When you combine that with our ore sorting results, which reject two-thirds of the mass before it ever reaches the gravity concentration process, and the mineral resource update now underway with GoldMinds, the picture that emerges is a project where the path from permitted extraction to revenue has been materially shortened."EEC Engagement and TimelineEEC is a Québec-based environmental engineering company, with offices across Canada including in Rouyn-Noranda. EEC has supported environmental authorization processes for major Québec mining projects. The firm was recommended by the Company's advisors for its direct experience in environmental authorization applications for mining and industrial projects in the Abitibi region.The scope of work covers the consolidation and filing of the authorization modification application with the MELCCFP, including mandatory activity and impact forms, a geolocation file, and an accompanying report providing context for the requested modification. The application will require engineering design packages for both the concentration process and the water treatment circuit, which will be provided by an engineering firm to be selected by the Company. EEC will provide limited support in the identification of requirements for the engineering services provider. A preliminary version of the application is expected by September 2026, with the final version targeted for October 2026, subject to the timely provision of engineering design packages and other client-furnished documentation.Development Framework and Processing StrategyThe on-site processing authorization advances in parallel with the mineral resource estimate update being prepared by GoldMinds Geoservices Inc. under the direction of Claude Duplessis, P.Eng. (OIQ #45523). The Company is evaluating the scope of a Preliminary Economic Assessment to complement the updated MRE, which would assess development scenarios centred on production, including both toll milling to a third-party processing facility in the Abitibi region and the option of on-site processing at the Granada property. The authorization modification announced today would establish the regulatory foundation for the on-site processing scenario and, if approved, provide the Company with the flexibility to pursue either pathway, or a combination of both, based on the economic analysis to follow.The authorization modification builds on the Company's existing Certificate of Authorization for mineralized material extraction, the ore sorting results announced on April 28, 2026, and the mineral resource estimate update currently underway. Together, these workstreams are intended to establish the technical and economic foundation for a production decision. The Company continues to evaluate project financing alternatives, including potential non-dilutive structures such as offtake agreements and prepayment facilities.Qualified PersonThe technical information in this news release was reviewed and approved by Matthew Halliday, P.Geo., Director of Granada Gold Mine Inc. and member of the Ordre des Géologues du Québec, who is a Qualified Person in accordance with NI 43-101.Mineral Resource EstimateOn August 22, 2022 the Company filed 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 Dupéré, B.Sc, P.Geo., SGS Canada Inc. dated August 20th, 2022 and with an effective date of June 23rd, 2022.Cut-Off (g/t Au)ClassificationTypeTonnesAu (g/t)Gold Ounces0.55 / 2.5MeasuredInPit+UG4,900,0001.70269,000
IndicatedInPit+UG3,320,0002.57274,000
Measured & IndicatedInPit+UG8,220,0002.05543,000
InferredInPit+UG3,010,0004.71456,000 Table 1: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold OuncesAbout Granada Gold Mine Inc.Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, 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 advancing the Granada Gold Project through an updated mineral resource estimate and preliminary economic assessment, with drilling planned to target both lateral extensions and depth expansion of the existing mineral resource.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 kilometres. 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 (43-101 reference).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. Details available in 43-101 report and on Company website: https://granadagoldmine.com/.For further information, Contact:
Frank J. Basa, P.Eng. member of Professional Engineers Ontario
Chief Executive Officer
P: 416-625-2342Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298840 Original: Granada Gold Mine Advances On-Site Processing Authorization for Gravity Concentration at Granada Gold Project

Granada Gold Mine Engages GoldMinds Geoservices for Mineral Resource Estimate Update Reflecting Current Gold PricingMay 19, 2026 9:01 AM
NewsfileUpdated MRE to Evaluate Expanded Open-Pit Gold Potential Using various cut-off gold gradesRouyn Noranda, Quebec--(Newsfile Corp. - May 19, 2026) - Granada Gold Mine Inc. (TSXV: GGM) (OTC Pink: GBBFF) (FSE: B6D) (the "Company" or "Granada") is pleased to announce the engagement of GoldMinds Geoservices Inc. ("GoldMinds") to complete an updated NI 43-101 compliant Mineral Resource Estimate ("MRE") for the Granada Gold Project located near Rouyn-Noranda, Québec. The MRE will be prepared under the direction of Claude Duplessis, P.Eng. (OIQ #45523), a Qualified Person as defined under NI 43-101.The MRE update will incorporate all available drilling and exploration data accumulated since the last resource update and will evaluate the deposit using various cut-off grades for pit-constrained mineral resources. This approach builds on the methodology employed by GoldMinds in its May 2017 NI 43-101 Technical Report. That report, which constitutes a historical mineral resource estimate, reported pit-constrained Measured resources of 17,068,500 tonnes at 1.14 g/t Au for 625,000 ounces and Indicated resources of 4,507,000 tonnes at 1.26 g/t Au for 182,700 ounces (combined Measured and Indicated of 21,575,500 tonnes at 1.16 g/t Au for 807,700 ounces), plus Inferred underground resources of 10,386,500 tonnes at 4.56 g/t Au for 1,523,800 ounces. With gold now trading near US$4,700 per ounce, compared to the US$1,250 per ounce price assumption used in the 2017 estimate, the Company believes a re-evaluation of the deposit at current price levels is warranted and could demonstrate a materially larger economic resource envelope. Inferred mineral resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically, and it cannot be assumed that all or any part of an Inferred mineral resource will be upgraded to a higher category.The study will also consider the integration of ore sorting technology, following the Company's recent independent test program at the Saskatchewan Research Council, which demonstrated a 2.7x gold grade uplift with 88 percent recovery (see news release dated April 28, 2026)."The original author of the 2017 historical resource estimate is now updating his own work with the benefit of additional drilling data, a structural reinterpretation of the deposit, and a gold price environment that no longer requires us to apologise for a 0.39 gram per tonne cut-off," stated Frank J. Basa, P.Eng. Ontario, President and CEO. "We engaged GoldMinds because Claude Duplessis and his team bring direct continuity with the geological model and block model they built for this deposit."MRE Scope of WorkThe GoldMinds engagement covers a two-phase scope of work:Mineral Resource Estimate Update will include a mass model update, updated pit-constrained and underground mineable shape optimization, and preparation of an NI 43-101 compliant technical report. The update will incorporate data from all drill programs through 2025, including the 158,000+ metres drilled from surface across more than 1,000 holes, as well as the structural interpretation completed by Ronacher McKenzie Geoscience Inc. (see news releases dated November 17, 2025 and January 8, 2026).Historical Mineral Resource Estimate and Gold Price ContextThe following table summarizes the May 2017 historical mineral resource estimate prepared by GoldMinds Geoservices Inc. (the "2017 Historical Estimate") using a pit-constrained methodology with a 0.39 g/t Au cut-off (US$1,250/oz gold, CDN/US exchange rate of 1.37) for pit-constrained M&I resources and a 1.5 g/t Au cut-off ($81.99 per tonne) for underground Inferred resources. Key parameters include: a density of 2.7 to convert volume to tonnage; original assays capped at 60 g/t Au for compositing; gold recovery of 94.1% for full mill cyanidation; search ellipsoid estimation ID2 of 50x50x5, 100x100x10, 200x200x15 and 300x300x20; open-pit constrained resources modelled on 10mE x 5mN x 5mZ block size and underground resources on 10mE x 3mN x 3mZ. Classification criteria required a minimum of 4 holes with 2 composites per hole for Measured, 3 holes with 2 composites per hole for Indicated, with the remainder classified as Inferred. The resource categories used in the 2017 Historical Estimate are consistent with the CIM Definition Standards on Mineral Resources and Mineral Reserves (2014) as adopted by CIM Council. The 2017 Historical Estimate is considered relevant to the planned MRE update because it was prepared by the same Qualified Person (Claude Duplessis, P.Eng.) using a methodology, database, and block model that will form the foundation of the updated estimate; however, the Qualified Person has not done sufficient work to classify the 2017 Historical Estimate as a current mineral resource, and the Company is not treating the 2017 Historical Estimate as a current mineral resource. The work required to upgrade and verify the 2017 Historical Estimate as a current mineral resource includes incorporation of all post-2017 drill data, updated geological and structural interpretation, re-optimization of pit shells and underground mineable shapes using current economic parameters, and preparation of a new NI 43-101 compliant technical report, which is the subject of the GoldMinds engagement announced herein:

Source: NI 43-101 Technical Report, Mineral Resource Estimation Update 2017, GoldMinds Geoservices Inc., effective May 16, 2017. This is a historical mineral resource estimate. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

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https://images.newsfilecorp.com/files/11947/297756_20274f0134f599c2_002full.jpgThe following table provides a comparative view of the Granada Global Classified Block Model at a 0.40 g/t cut-off, showing the growth in contained gold ounces between the 2012 and 2017 resource estimates:

Source: GoldMinds Geoservices Inc., 2017. The Global Block Model is presented for comparative purposes and does not constitute a mineral resource estimate. See notes to the 2017 Technical Report for methodology and assumptions.

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https://images.newsfilecorp.com/files/11947/297756_20274f0134f599c2_003full.jpgThe most recent NI 43-101 mineral resource estimate for the Granada Gold Project was prepared by SGS Canada Inc. with an effective date of June 23, 2022 (see July 6, 2022 news release), reporting 543,000 ounces of gold (8,220,000 tonnes at 2.05 g/t Au) in the Measured and Indicated category and 456,000 ounces of gold (3,010,000 tonnes at 4.71 g/t Au) in the Inferred category, at cut-off grades of 0.55 g/t Au (pit-constrained) and 2.5 g/t Au (underground). The GoldMinds MRE update will re-evaluate the deposit using current economic parameters and various gold cut-off grade frameworks, incorporating additional drilling data and the recently completed structural reinterpretation.Development Framework and Next StepsThe MRE update and PEA represent a systematic advancement of the Granada Gold Project toward a production decision. The Company holds a Certificate of Authorization from the Québec MDDELCC authorizing the mining of 550 tonnes per day for approximately 590,000 tonnes, structured as a phased Rolling Start pathway. Together with the ore sorting results announced on April 28, 2026, the completed structural analysis, the recently closed $2.5 million private placement financing (see news release dated February 18, 2026), and the existing exploration and environmental permits.Qualified PersonsClaude Duplessis, P.Eng. (OIQ #45523), President of GoldMinds Geoservices Inc., is the independent Qualified Person responsible for the preparation of the MRE as defined under NI 43-101. Mr. Duplessis was the Qualified Person responsible for the preparation of the 2017 Historical Estimate referenced herein.The technical information in this news release was reviewed and approved by Matthew Halliday, P.Geo., Director of Granada Gold Mine Inc. and member of the Ordre des Géologues du Québec, who is a Qualified Person in accordance with NI 43-101.Mineral Resource EstimateOn August 22, 2022 the Company filed 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 Dupéré, B.Sc, P.Geo., SGS Canada Inc. dated August 20th, 2022 and with an effective date of June 23rd, 2022.Cut-Off (g/t Au)ClassificationTypeTonnesAu (g/t)Gold Ounces0.55 / 2.5MeasuredInPit+UG4,900,0001.70269,000IndicatedInPit+UG3,320,0002.57274,000Measured & IndicatedInPit+UG8,220,0002.05543,000InferredInPit+UG3,010,0004.71456,000 Table 1: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold OuncesAbout Granada Gold Mine Inc.Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, 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 advancing the Granada Gold Project through an updated mineral resource estimate and preliminary economic assessment, with drilling planned to target both lateral extensions and depth expansion of the existing mineral resource.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 kilometres. 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 (43-101 reference).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. Details available in 43-101 report and on Company website: https://granadagoldmine.com/.For further information, Contact:
Frank J. Basa, P.Eng. member of Professional Engineers Ontario
Chief Executive Officer
P: 416-625-2342Or:Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297756 Original: Granada Gold Mine Engages GoldMinds Geoservices for Mineral Resource Estimate Update Reflecting Current Gold Pricing

Granada Gold Mine Demonstrates 2.7x Grade Uplift on Open-Pit Mineralization Through Ore Sorting at Saskatchewan Research CouncilApril 28, 2026 9:01 AM
NewsfileXRT Sorting Upgrades 2.93 g/t Feed to 7.87 g/t at 88 Percent Gold Recovery - Two-Thirds of Mill Feed Rejected as Waste Before ProcessingRouyn-Noranda, Quebec--(Newsfile Corp. - April 28, 2026) - Granada Gold Mine Inc. (TSXV: GGM) (OTC Pink: GBBFF) (FSE: B6DA) (the "Company" or "Granada") is pleased to report results from an independent ore-sorting test program completed at the Saskatchewan Research Council ("SRC") that demonstrates a 2.7x gold-grade uplift on open-pit mineralization from the Granada deposit. A 500-kilogram sample of open-pit mineralization was tested using x-ray transmission ("XRT") and laser sorting; results indicate the mineralization is highly amenable to upgrading prior to milling, with material implications for project capital intensity, operating cost, and resource economics."These results change the conversation around Granada. A 2.7x grade uplift with 88 percent gold recovery, and two-thirds of the material rejected as waste before it ever reaches the mill, redefines what this project costs to build and what it costs to run. The Saskatchewan Research Council's independent confirmation gives us a defensible technical basis to advance the resource update and the project financing in parallel, rather than sequentially. We expect ore sorting to be a foundational element of the path from the current resource," commented Frank J. Basa, P.Eng. Ontario, President and CEO of Granada Gold Mine Inc.Ore Sorting Highlights:XRT Sorting: head gold grade at 2.93 grams per tonne upgraded to 7.87 grams per tonne gold with an 88 percent recovery. Mass recovery of 32.7 percent with a waste rejection of 67.8 percent.Laser Sorting (secondary modality): head gold grade of 1.22 grams per tonne upgraded to 5.13 grams per tonne gold with 41.5 percent gold recovery. Mass recovery of 9.9 percent with waste rejection of 90.1 percent.Ore Sorting Benefits:Potential to expand economic resources by lowering the grade applied to open-pit mineralizationReduced processing cost per tonne of contained gold, driven by smaller required mill throughput and lower energy and reagent consumptionReduced plant capital intensity through smaller mill footprint and lower water and tailings infrastructure requirementsReduced surface disturbance and tailings volume per ounce of gold produced, supporting permitting and community engagementNext StepsThe Company holds a Certificate of Authorization issued by the Quebec Ministère du Développement durable, de l'Environnement et de la Lutte contre les changements climatiques ("MDDELCC") authorizing the mining of 550 tonnes per day for a total of approximately 590,000 tonnes (representing approximately 75,000 ounces of gold), structured as a phased "Rolling Start" bulk sample pathway. The ore sorting results announced today are expected to materially enhance the economics of the Rolling Start by upgrading the gold grade of material delivered for processing and reducing the mass of material requiring downstream handling per ounce of gold recovered.The Company intends to incorporate the Saskatchewan Research Council test program results into a forthcoming updated technical report on the Granada Gold project, building on the framework of the existing NI 43-101 mineral resource estimate referenced above.Qualified personThe technical information in this news release was reviewed and approved by Matthew Halliday, P.Geo., Director of Granada Gold Mine Inc., and member of the Ordre des Géologues du Québec, who is a Qualified Person in accordance with National Instrument 43-101.Mineral Resource EstimateOn August 22, 2022 the Company filed 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 Dupéré, B.Sc, P.Geo., SGS Canada Inc. dated August 20th, 2022 and with an effective date of June 23rd, 2022.Table 1: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold OuncesCut-Off
(g/t Au)ClassificationTypeTonnesAu (g/t)Gold Ounces0.55 / 2.5Measured1InPit+UG4,900,0001.70269,000IndicatedInPit+UG3,320,0002.57274,000Measured & IndicatedInPit+UG8,220,0002.05543,000InferredInPit+UG3,010,0004.71456,000 About Granada Gold Mine Inc.Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and 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 currently undergoing a large drill program with 20,000m out of 120,000m 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 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.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. For further information, Contact:
Frank J. Basa, P.Eng. member of Professional Engineers Ontario
Chief Executive Officer
P: 416-625-2342Or:Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294383
Original: Granada Gold Mine Demonstrates 2.7x Grade Uplift on Open-Pit Mineralization Through Ore Sorting at Saskatchewan Research Council