December 8, 2022
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Granada Gold Mine Extends Terms of Mandate

By on September 25, 2021 0


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Granada Gold Mine Inc. announces that it will extend by two years the expiration date of a total of 6,861,806 share purchase warrants. The 6,861,806 warrants will expire on October 18 and November 6, 2021. The expiration date will be extended by two years and the warrants will now expire on October 18 and November 6, 2023. All other terms and conditions remain. the same. The private placement units were …

(The press wire)

Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) (the “Company” or “Grenada”) announces that it will postpone the expiration date of a total of 6,861,806 two-year share subscription (the “). The 6,861,806 warrants will expire on October 18 and November 6, 2021. The expiration date will be extended by two years and the warrants will now expire on October 18 and November 6, 2023. All other terms and conditions remain constant.

The private placement units were issued at a price of $ 0.15 per unit and consisted of one common share and a warrant allowing the holder to purchase one additional common share at an exercise price of $ 0.15. the share for a period of three years from closing. The amendment is subject to the approval of the TSX Venture Exchange.

About Granada Gold Mine Inc.

Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada gold property near Rouyn-Noranda, Quebec, and adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land under a combination of mining leases and claims. The company is currently undergoing an extensive drilling program with 30,000m by 120,000m completed. Exercises are currently on hiatus to give the technical team sufficient time to assess and assimilate existing data.

The Granada Shear Zone and the South Shear Zone contain, based on detailed historical mapping as well as current and historical drilling, up to twenty-two east-west trending mineralized structures over five and a half kilometers. Three of these structures have historically been mined from four wells and three open pits. Historical underground grades were 8-10 grams per tonne of gold from two wells down to 236 m and 498 m with open-pit grades of 3.5 to 5 grams per tonne of gold.

The property includes the former Granada Gold underground mine which produced over 50,000 ounces of gold at 10 grams per tonne of gold in the 1930s from two shafts before a fire destroyed the surface buildings. In the 1990s, Granada Resources mined 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 grading 3.46 g / t Au.

“Frank J. Basa”

Frank J. Basa, P.Eng.

Chief Executive Officer

For more information, contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

Phone. : 416-625-2342

Or:

Wayne Cheveldayoff,

Business communication

Phone. : 416-710-2410

E: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements that include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. With the exception of statements of historical fact, comments which deal with resource potential, upcoming work programs, geological interpretations, receipt and security of mining title, availability of funds and the like. are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may differ materially from such statements. General business conditions are factors that could cause the actual results of forward-looking statements to vary materially.

Copyright (c) 2021 TheNewswire – All rights reserved.

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