GVG Grenville Gold Corp. (delisted)

Grenville Gold Corporation ("Grenville" or "the Company"), (TSX VENTURE: GVG)(PINK SHEETS: GVLGF)(FRANKFURT: F9I)(WKN: A0KELU) announces that Minera Grenville S.A.C. and Bella Rubia S.M.R.L. have signed a formal agreement with the Community of Parac for access to the Pacococha and Millotingo mines at the Silveria Property until November, 2012 to conduct significant exploration and development in the area. A previous agreement with another mining company in the area has been rescinded by the community.

The completion of the NYRSTAR purchase of 85% of the Coricancha Mine from Gold Hawk Resources is now complete. The Coricancha Mine is 4 km from the Silveria Property. Gold Hawk reports the Coricancha mine could be in production during the first half of 2010.

The Silveria Property is located 80 kilometers east of Lima, Peru near the town of San Mateo. The property is also 30 kilometers south-west of Pan American Silver's Morococha Silver Mine and Chalco's (Chinese Aluminum) Toromocho Porphyry Copper Project. Grenville's Silveria claims encompass a majority of the high grade, past producing Pacococha, Millotingo, Silveria and Germania Mines.

Preliminary exploration results reported by Gilbertson and O'Donovan (2008) reveal that the mineralized rock on the Property(x) contains up to 279.0 g/t silver with an average content of 57.8 g/t (n=19). The base metals are locally strongly enriched with lead and zinc concentrations reaching up to 6.93 % and 13.05 % respectively and averaging 1.88% (n=19) and 2.72% (n=19) respectively. Copper concentrations average 0.44% (n=19). Gold contents reach up to 1.57 g/t and average 0.25 g/t (n=19). This recognizance survey was performed in order to broadly characterize the Property's mineralization.

The mineralization textures and associated alteration, and geochemical characteristics at Silveria are consistent with the epithermal deposit model. Structural geologic interpretations combined with the geochemical studies suggest the Millotingo mine is stratigraphically higher in the epithermal system where precious metals are enriched and base metals depleted.

Gilbertson and O'Donovan (2008) report that thin (less than 10 centimetre wide), typically prismatic quartz veins with up to 15% fine pyrite, locally form sheeted and stockworked zones in outcrop at the top of Pacococha and Germania. Quartz-pyrite alteration is often associated with areas of strong quartz vein development.

The Authors note that veins and alteration occurs over relatively large areas and represent a potential bulk target. Gold has never been targetted at Silveria although several anomalous gold samples have been collected.

Based upon published information, mine plans, production records and reserve estimations obtained from the operators, the historic production amalgamated by the Godden and Stone (2007) indicate that 2.6 million tonnes of ore was processed at Millotingo producing:

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Silver (oz)   Gold (oz)     Copper (lb)   Zinc (lb)
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39,000,000    90,000        97,000,00     44,000,000
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In addition, extensive records exist for the Pacococha Mine. The same Authors indicate that 2.7 milion tonnes of ore was processed producing:

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Silver (oz)   Gold (oz)     Copper (lb)   Zinc (lb)     Lead (lb)
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8,057,156     unknown       90,000,000    100,000,000   30,000,000
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These historic numbers give an indication of the scope of the previous operations and is a clear indication that significant gold mineralization occurs near Millotingo and most likely in other areas of the Property. Grenville intends to first identify the gold rich zones within the Millotingo camp and define its relation to the polymetallic mineralization. Gilbertson and O'Donovan (2008) report several gold-mineralized quartz-pyrite dominant rock-chip grab samples were taken from mine dumps at portals accessing veins for which historic records do not mention gold mineralization. The Authors consider this very significant in that it indicates that quartz-pyrite dominant veins, which were likely not a focus of historic mining, represent valid exploration targets. Moreover, these veins may develop preferentially in secondary tensional structures, which form at oblique angles to the main shears.

The company has also entered into further negotiations with Minera Sunicancha S.A.C. on the purchase of mineral concessions in the Silveria area. The company will not pay an extension fee of $ 25,000 to retain the option to purchase 1,250 Ha of land for $ 2 million USD under the Letter of Intent announced September 16, 2009. An equity financing to complete the $ 2 million USD purchase was determined to be too dilutive to the current share structure.

(x)Only those samples collected within Grenville's Claims and that are characterized by more than 10 g/t silver have been included in this statistical analysis.

The technical information has been reviewed by Luc Pigeon, M.Sc., P. Geo and Qualified Person for NI 43-101 purposes at Grenville's Peruvian Properties.

On behalf of the Board of Directors,

A. Paul Gill, President & Director

We Seek Safe Harbor.

Contacts: Grenville Gold Corporation A. Paul Gill President & Director Direct: (604) 303-1051 www.grenvillegoldcorp.com