GGM:CC - Resource Acquisitions on the Cadillac Break Are Positive for Granada Gold Mine

(TheNewswire)

January 22, 2025 - TheNewswire - Rouyn Noranda, Quebec, Granada GoldMine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to showcase recent property transactions on theCadillac Break. With the recent increase in the price of gold, and theacute shortage of permitted mineable resources on the Cadillac Breaklocated in the Rouyn-Noranda-Val d’Or area, operating gold miningcompanies have been buying up companies and resources to sustain their“Fill the Mill” operating requirements.

Frank J. Basa., President and CEO notes, “The currentGranada Gold Mine resource valuation has the potential to increase. Inaddition, with the continuation at Granada of the planned deep drillprogram and ongoing bulk sampling program, it is expected thatGranada’s gold resource estimate will increase.”

Recent Resource ValuationsHighlights:

• Granada Gold Mine high-grade open pitmeasured and indicated resource at 543,000 ounces at 2.05 grams pertonne gold (20 percent of the mineralized zone explored) (see belowand news release August22, 2022 ). Fullypermitted to go into production as a shipper. Meets the “Fill theMill” requirements.

• $25 million for Yorbeau ResourcesInc’s Rouyn Property immediately adjacent to Granada  Gold Mineproperty (see news release October 2, 2024 . Resource is not permitted togo into production.

• $204 million for O3 Mining Inc’s Marban Alliance property (see news  release December 12, 2024 ). Resource is not permitted to go into production.

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, 2022 newsrelease ) 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. Reportreference : Granada Gold ProjectMineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canadaauthored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, P.Geo., SGSCanada Inc. dated August 20th, 2022 and with an effective date of June23rd, 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 programwith 20,000m out of 120,000m complete. The drills are currently pausedto provide the technical team with the necessary time to evaluate,assimilate existing data and wait for improved marketconditions.

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.

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.

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 nor its RegulationServices 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 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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