GGM:CC - Granada Reports AGM Results
(TheNewswire)
July 13, 2022 – TheNewswire –Rouyn Noranda, Quebec - Granada Gold Mine Inc.(TSXV:GGM) (OTC:GBBFF) (“Granada Gold” or the “Company”) announces that the 2022 Annual General Meeting was held today,Wednesday, April 13, 2022 and is pleased to report that allresolutions were approved with over 99.92% voting in favour in allcategories. Resolutions passed are listed below.
1. The following individuals were re-electedDirectors of the Company: Frank J. Basa and Dianne Tookenay. MatthewHalliday was also elected as a Director of the Company.
2. McGovern, Hurley,Cunningham, Chartered Accountants , werere-appointed as Company auditors.
3. Adoption of the Company’s 10% rollingshare option plan was ratified and approved.
The Board of Directors appointed the following officersof the Company for the ensuing year:
Frank J. Basa: President &CEO
Remantra Sheopaul: Chief Financial Officer
Tina Whyte: Corporate Secretary
Frank J. Basa, Dianne Tookenay and Matthew Hallidaywere appointed members of the Audit Committee for the upcoming year.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and exploreits 100% owned Granada Gold Property adjacent to the prolific CadillacBreak near Rouyn-Noranda, Quebec. The Companyowns 14.73 square kilometers of land in a combination of mining leasesand claims and to date Granada has conducted 150,000m of drilling onthe property. The Company recently completed 30,000m of a planned120,000m drill program aimed at expanding the size of the deposit. Thedrills are currently paused to provide the technical team with thenecessary time to evaluate and assimilate existing data.
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 (g/t)gold from two shafts down to 236m and 498m with open pit grades from3.5 to 5 g/t gold.
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 1990’s, 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.
The Company is in possession of all mining permitsrequired to commence the initial mining phase, known as the “RollingStart”, which allows the company to mine up to 550 tonnes per day.Additional information is available at www.granadagoldmine.com .
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
For further information, pleasecontact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or
Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or waynecheveldayoff@gmail.com
Neither the TSX Venture Exchange nor its RegulationService Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release. This news release may contain forward-lookingstatements including but not limited to comments regarding the timingand content of upcoming work programs, geological interpretations,receipt of property titles, potential mineral recovery processes, etc.Forward-looking statements address future events and conditions andtherefore, involve inherent risks and uncertainties. Actual resultsmay differ materially from those currently anticipated in suchstatements.
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