GGM:CC - Granada Gold Proceeds with Evaluation of Custom Milling at the Beacon Gold Mill

(TheNewswire)

March 27, 2025 – TheNewswire - RouynNoranda, Quebec, Granada Gold Mine Inc. (TSXV:GGM) (the “Company” or “Granada”) ispleased to announce that it has signed anon-binding MOU for custom milling of the Granada Gold Mine ore at theBeacon Mill, owned by Lafleur Minerals in Quebec, Canada.

Highlights of non-binding CustomMilling MOU:

• Beacon Mill is fully permitted for 750 tonnes perday.

• Granada Gold Mine is fully permitted to ship gold ore.Current open-pit and underground 43-101 measured and indicatedresource at 543,000 ounces of gold at 2 grams per tonne gold (seebelow).

• Toll milling agreement is expected by June of this yearfollowed by shipping of ore thereafter to the Beacon Mill.

Granada CEO Frank J. Basa commented, “This is awelcome development for Granada which enables the Company to generaterevenue to carry on with the planned deep drilling program and thepotential to increase our current 43-101 resource by further drillingwhile developing a metallurgical balance.  Granada has obtainednumerous permits allowing the Company to conduct open-pit mining toship ore to a local mill and we are happy to know that the Beacon Millcan be available to process it.  We are expecting the evaluationprocess to be relatively short and we are confident that shipping andproduction can begin before the end of 2025 . ”

Continuation of Deep Drilling Programand Metallurgical Balance Program:

The current mineralized zone, over 2 kilometers of the5-kilometer overall east-west structure, is only 20 percent explored.A 120,000-meter drill program was outlined, of which 18,000 meters hasbeen completed, to test gold mineralization at depth. Upon completionof this drill program, the Company will have drilled 270,000meters.

Based on gravity concentration processing of previousbulk samples, the Granada Gold Mine mineralized material shows that anaverage of 50% of the recoverable gold is visible, or native 43-101 reference .  Processing of a bulk sample by toll milling will allow acomprehensive  metallurgical balance to determine an accurate gradeof the open pit resource.

In the past, the grade of ore when milled averaged 30percent higher than the current 43-101 resource developed from drillintersections. The Granada Gold Mine open pit was mined at 3.5 to 5grams per tonne gold, while the current open pit and underground43-101 resource is 2 grams per tonne gold. Recently, two 500-tonneopen pit samples taken by the company returned grades of 4 grams pertonne gold (Please see July 6, 2022news release ) .

Private Placement:

Granada announces a non-brokered private placementfinancing for up to 40,000,000 units ("Units") at a price ofC$0.025 per Unit raising gross proceeds of C$1,000,000.

Each Unit is comprised of one common share of theCorporation and one common share purchase warrant. Each whole Warrantwill entitle the holder to acquire one additional Share (a"Warrant Share") at an exercise price of $0.05 per WarrantShare (the "Exercise Price") for a period of 24-monthsimmediately following the closing.

The private placement is subject to TSX VentureExchange (“Exchange”) approval.  The proceeds of the privateplacement will be used for the Company’s Granada Gold Property, nearRouyn-Noranda, Quebec and General and Administrative expenses. Finder’s fees will be paid in connection with the privateplacement. The finder’s fees paid in connection with the privateplacement are subject to Exchange approval.  All securities issued inconnection with the private placement will be subject to afour ? month and a dayhold period in accordance with applicable Canadian SecuritiesLaws.

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 withopen pit grades from 3.5 to 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 Professional Engineers 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 notundertake to update any forward-looking information in this newsrelease or other communications unless required by law.

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