Granada East Project Revisited in Search of Historic High-Grade 200 Grams per Tonne Gold Mineralization

(TheNewswire)

April 14, 2025 – TheNewswire - RouynNoranda, Quebec - Granada Gold Mine Inc. (TSXV:GGM) (the “Company” or “Granada”) ispleased to announce its expanded exploration focus on the Granada EastProject. The potential strike length on the property is 5.5kilometres, including the eastward extension 2.5 kilometres from theGranada Pit 1 to the historical Aukeko Shaft and a further 2kilometres to the Austin-Rouyn Shaft.

The Aukeko Shaft was sunk on the “Auk Shear” zonein conjunction with stripping and trenching which was mapped over aone-kilometre length with an average width of 50 metres. The Auk Shearzone was the location of the Bert Vein where three bulk samples werereported to have been taken in 1938 from a trench approximately50-to-150 metres east of the Aukeko Shaft.  The bulk samples averageda grade of 7.0 ounces gold per ton (240.0 grams per tonne) (frompublic files with MERN(Ministère d’Energie et RessourcesNaturelles) GM52851)( News Release July 10,2018 ).

The Austin Rouyn shaft, sunk to a depth of 68 metres,reported grab samples from the first level (at 36 metres) taken in1940 and assaying up to 8.57 ounces of gold per short ton (291.4 gramsper tonne) (1980, Report:GM36668 ).

Exploration Highlights:

• Phase I - Conduct Drone Lidar survey to integrate with historic dronemag survey, property mapping and drilling

• Phase II –Conduct Second round of geophysics (survey details still in discussionwith geophysics company, potentially radiometric) to maximizepotential drill targets for REE, Alkali Metals and Goldmineralization.

The Granada Project lies along a significant butunderexplored structural corridor. To date, over 90% of explorationactivity has been concentrated on the western portion of the property,while Granada East remainslargely unexplored , despite historical recordsdating as far back as the 1920s. The renewed focus on Granada Eastrepresents a critical step forward in unlocking the full potential ofthe project.

About Granada East:

The Aukeko gold mine is part of the east-west trending structure on the Granada Gold Mine property. It is two kilometres eastfrom the extended LONG Bars zone where over 160,000 metres of drillinghas been undertaken to date, in addition to historical drilling fromthe 1990s. A further 1.9 kilometres east is the Austin-Rouyn Mine.Note that there are two cross-cutting intrusive dykes of undefinedwidth within that strike length. The potential strike length isconceptual in nature as there has been insufficient exploration todefine the full length of the mineralized material and it is uncertainif further exploration will do so.

In the late 1930s, a shaft was sunk to 13 metres andextensive trenching was undertaken on surface at the Aukeko Mine.Mapping identified several auriferous structures within a 500-metrewide, east-west trending zone with shearing, alteration, and quartzveining along with numerous porphyry intrusions.

Proposed Exploration:

Granada Gold Mine conducted a Drone Magnetic Survey in2018, which currently covers most of the property. Building on thisdata, the Company plans to initiate a Phase I LiDAR survey ,aimed at enhancing the structural understanding of the area. Theintegration of this new data with the existing magnetic survey,historic geological mapping (notably KWG, 1993), and historicaldrilling results will provide a robust framework for identifyinghigh-priority exploration targets through the delineations ofprominent structures.

“The opportunity to explore for high grade gold opensup a new frontier at Granada, particularly in the underexploredeastern claim block,” said Frank J. Basa, President CEO. “Byleveraging a combination of modern and historical data, we’repositioning ourselves to make informed, high-impact explorationdecisions.”

In preparation for Phase II , GranadaGold will engage with a local geophysical firm to determine the mosteffective methods for further defining gold-bearing structures. EM/IPwork will be considered as part of this ongoing evaluation. TheCompany’s goal is to partner with strong technical collaborators todefine high-potential drill targets, enhancing both the mineral andstructural understanding of the Granada property and our commitment tofostering local businesses and communities.

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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