GGM:CC - Granada Gold Completes MOU Review Period with Lafleur Minerals

(TheNewswire)

June 25 2025 – TheNewswire - RouynNoranda, Quebec - Granada Gold Mine Inc. (TSXV:GGM) (the “Company” or “Granada”) reports that the non-binding Memorandum of Understanding("MOU") with Lafleur Minerals for custom milling at theBeacon Mill hasconcluded following the expiration of its 90-dayterm on June 23, 2025.

During the evaluation period, both parties conductedtechnical reviews and exchanged data room information. Followingcomprehensive assessment, the companies have determined not to proceedwith a definitive milling agreement at this time.

"The three-month evaluation with Lafleur providedvaluable technical insights that will inform our go-forwardstrategy," stated Frank J. Basa,  CEO of Granada Gold Mine."Granada continues to assess multiple near-term productionscenarios, with our existing permits providing flexibility for variousapproaches including potential open-pit mining and ore transportationarrangements. We are actively engaged in discussions with severalparties regarding processing alternatives and other strategicinitiatives designed to monetize our 543,000-ounce measured andindicated resource."

Key Strategic Considerations:

• Granada Gold Property remains fully permitted formining and ore shipment

• Multiple processing pathways under activeevaluation

• Strong interest from industry participants in theregion

• Focus on near-term revenue generation while advancingdeep drilling program

The Company anticipates providing further updates onits strategic initiatives as discussions advance and materialdevelopments warrant disclosure.

Qualified person

The technical information in this news release wasreviewed and approved by Matthew Halliday, P.Geo., Director ofGranada Gold Mine Inc., and member of the Ordre des Géologues duQuébec, who is a Qualified Person in accordance with NationalInstrument 43-101.

Mineral Resource Estimate

On August 22, 2022 the Company filed an updated NI43-101 technical report supporting the resource estimate update forthe Granada Gold project (Please see July 6, 2022news release ) reporting that the Granadadeposit contains an updated mineral resource, at a base case cut-offgrade of 0.55 g/t Au for pit constrained mineral resources within aconceptual pit shell and at a base case cut-off grade of 2.5 g/t forunderground mineral resources within reasonably mineablevolumes, of 543,000 ounces of gold (8,220,000 tonnes at an averagegrade of 2.05 g/t Au) in the Measured and Indicated category, and456,000 ounces of gold (3,010,000 tonnes at an average grade of 4.71g/t Au) in the Inferred category. Please see Table 1 below for fulldetails. Report reference : Granada Gold Project Mineral Resource Estimate Update,Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. andMaxime 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 Ounces

About Granada Gold Mine Inc.

Granada Gold Mine Inc. continues to develop and exploreits 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, andis adjacent to the prolific Cadillac Break. The Company owns 14.73square kilometers of land in a combination of mining leases andclaims. The Company is currently undergoing a large drill program with 18,000m out of 120,000m complete.The drills are currently paused to provide the technical team with thenecessary time to evaluate, assimilate existing data and wait forimproved market conditions.

The Granada Shear Zone and the South Shear Zonecontain, based on historical detailed mapping as well as from currentand historical drilling, up to twenty-two mineralized structurestrending east-west over five and a half kilometers. Three of thesestructures were mined historically from four shafts and three openpits. Historical underground grades were 8 to 10 grams per tonne goldfrom two shafts down to 236 m and 498 m with open pit grades from 3.5to 5 grams per tonne gold ( 43-101 reference ).

The property includes the former Granada Goldunderground mine which produced more than 50,000 ounces of gold at 10grams per tonne gold in the 1930’s from two shafts before a firedestroyed the surface buildings.  In the 1990s, Granada Resourcesextracted 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 grading3.46 g/t Au.  Details available in 43-101report and on Company website: https://granadagoldmine.com/

For further information, Contact:

Frank J. Basa, P.Eng. member of ProfessionalEngineers Ontario

Chief Executive Officer

P: 416-625-2342

Or:

Wayne Cheveldayoff,

Corporate Communications

P: 416-710-2410

E: waynecheveldayoff@gmail.com

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.

This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-looking statements. The Company does not undertake to updateany forward-looking information in this news release or othercommunications unless required by law.

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