Granada Gold Mine Closes Oversubscribed Private Placement Financing

(TheNewswire)

Rouyn Noranda, Q.C., February 18, 2026 – TheNewswire - Granada Gold Mine Inc.(TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) (the "Company" or"Granada") today announced that it has closed itspreviously announced $2.5 million private placement financing (the"Offering") (see news release dated January 30, 2026). TheCompany has increased the size of the Offering and issued a total of58,949,400 Units (the "Units") at a price of C$0.05 per Unitfor aggregate gross proceeds of C$2,947,470 under the Offering.

Each Unit is comprised of one common share of theCompany (each, a "Share") and one Common Share purchasewarrant (the "Warrants") of the Company. Each Warrantentitling the holder thereof to purchase an additional Share at aprice of $0.075 per Common Share for a period of five (5) years fromthe date of issuance. The securities to be issued under the Offering,including the Shares underlying the Warrants will be subject to a holdperiod of four months and one day, under applicable Canadiansecurities laws and  the policies of the TSXV. The Offering remainssubject to the approval of the TSXV.

In connection with the Offering, the Company shall payfinders fees to certain qualified and approved finders, in cashtotaling C$137,130 and issue a total of 2,742,600 non-transferableshare purchase warrants (the "Finder's Warrants") aspermitted under the rules of the TSX Venture Exchange. EachFinder's Warrant will be exercisable at a price of C$0.07 pershare for a period of five years from the date of issue.

The net proceeds of the offering will be used for:a resource update, exploration and generalcorporate purposes for the Company’s Granada Gold Property, nearRouyn-Noranda, Quebec

In connection with the Private Placement, Mr. FankBasa, who is an insider of the Company (the "Insider"),acquired 4,000,000 Units, representing 6.8% of the Units sold underthe Offering. Participation by the Insider in the Offering wasconsidered a "related party transaction" pursuant toMultilateral Instrument 61-101 Protection of Minority Security Holdersin Special Transactions ("MI 61-101"). The Company wasexempt from the requirements to obtain a formal valuation or minorityshareholder approval in connection with the Insiders'participation in the Private Placement pursuant to subsections 5.5(a)and 5.7(1)(a) of MI 61-101, as neither the fair market value of theUnits to be issued to, nor the consideration paid by the Insidersexceeded 25% of the Company's market capitalization.

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 program with 20,000m 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.

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 EngineersOntario

Chief Executive Officer

P: 416-625-2342

Or:

Wayne Cheveldayoff, 

Corporate Communications

P: 416-710-2410 

E: waynecheveldayoff@gmail.com

Information set forth in this news release containsforward-looking statements that are based on assumptions as of thedate of this news release. These statements reflect management'scurrent estimates, beliefs, intentions and expectations. They are notguarantees of future performance. The Company cautions that allforward-looking statements are inherently uncertain and that actualperformance may be affected by a number of material factors, many ofwhich are beyond the Company's control. Such factors include,among other things: risks and uncertainties relating to Company'slimited operating history, ability to obtain sufficient financing tocarry out its exploration programs and the need to comply withenvironmental and governmental regulations. Accordingly, actual andfuture events, conditions and results may differ materially from theestimates, beliefs, intentions and expectations expressed or impliedin the forward-looking information. Except as required underapplicable securities legislation, the Company undertakes noobligation to publicly update or revise forward-lookinginformation.

The forward-looking statements contained in this newsrelease are made as of the date of this news release. Except asrequired by law, the Company disclaims any intention and assumes noobligation to update or revise any forward-looking statements, whetheras a result of new information, future events or otherwise.

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

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