Rouyn Noranda, QC TheNewswire – January 8, 2026 – Granada Gold Mine Inc. (TSXV: GGM,OTC:GBBFF) (OTC: GBBFF) (Frankfurt: B6D) (the “Company” or “Granada”) is pleased to provide a structural interpretation from our geological consultants. Historically, the Granada gold mine was mined via two shafts with an average gold grade of 9.7 grams per tonne from veins 1 and 2, with 3 additional veins (#2a, #3 and #5) identified. The company has completed 126,000 meters of drilling in 538 holes to date. Because only 20 percent of the 2-kilometer east-west mineralized structure has been explored, and because the mineralized package is open to depth, there is the possibility that additional vein structures could be identified with further drilling.
The interpretation identifies that the southern portion of the property exhibits higher structural complexity, based on all geophysical and historical data, extending eastward and westward along the length of the property. Further research is needed in the area of the northwest- and northeast-trending faults and their relationship with the regional east-west trending structures.
The geological consultants further recommended creating an updated geological map for the terrain that integrates historical maps, LiDAR and magnetic lines, as well as compiling historical structural measurements into a database to create a more complete structural framework to support an updated 3D model.
Qualified person
The technical information contained in this press release has been reviewed and approved by Matthew Halliday, P.Geo., director of Granada Gold Mine Inc., and member of the Ordre des Géologues du Québec, who is a qualified person in accordance with National Instrument 43-101.
Estimation of mineral resources
On August 22, 2022, the company submitted an updated technical report NI 43-101 in support of the update of the resource estimate for the Granada Gold project (see Press release of July 6, 2022) reports that the Granada deposit contains an updated mineral resource, with a base case of 0.55 g/t Au for mine-restricted mineral resources within a conceptual mine shell and with a base case of 2.5 g/t for underground mineral resources within reasonable recoverable volumes, of 543,000 ounces of gold (8,220,000 tonnes at an average grade of 2.05 g/t Au) in the Measured and Indicated category, and 456,000 ounces of gold (3,010,000 tonnes at an average grade of 4.71 g/t Au) in the Inferred category. See Table 1 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada written by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, P.Geo., SGS Canada Inc. dated August 20, 2022 and with an effective date of June 23, 2022.
Table 1: Mineral resource estimate showing tonnes, average grade and gold ounces
Cut off (g/t Au) | Classification | Type | Ton | Au (g/t) | Golden ounce |
0.55 / 2.5 | Measured1 | InPit+UG | 4,900,000 | 1.70 | 269,000 |
Indicated | InPit+UG | 3,320,000 | 2.57 | 274,000 | |
Measured & indicated | InPit+UG | 8,220,000 | 2.05 | 543,000 | |
Derived | InPit+UG | 3,010,000 | 4.71 | 456,000 |
About Granada Goldmine 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 in a combination of mining leases and claims. The company is currently undergoing a major drilling program with 20,000 m of the 120,000 m completed. The exercises are currently paused to give the technical team the necessary time to evaluate existing data, assimilate it and wait for improved market conditions.
The Granada Shear Zone and the South Shear Zone, based on historical detailed maps and based on current and historical drilling, contain up to twenty-two mineralized structures running east to west for five and a half kilometres. Three of these structures were historically mined from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts to 236m and 498m with open pit grades of 3.5 to 5 grams per tonne gold.
The property includes Granada’s former underground gold mine, which produced more than 50,000 ounces of gold at a price of 10 grams per tonne from two shafts in the 1930s before a fire destroyed the above-ground buildings. In the 1990s, Granada Resources collected a bulk sample (Pit #1) of 87,311 tonnes, grading 5.17 g/t Au. They also took a bulk sample (Pit #2) of 22,095 tonnes, grading 3.46 g/t Au.
For more information please contact:
Frank J. Taal, P.Eng. meberen Professional Engineers Ontario
General manager
P: 416-625-2342
Or:
Wayne Cheveldayoff,
Business communication
P: 416-710-2410
E: waynecheveldayoff@gmail.com
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This press release may contain forward-looking statements, including, but not limited to, statements regarding future events and circumstances, which are subject to various risks and uncertainties. Other than statements of historical fact, comments addressing resource potential, upcoming work programs, geological interpretations, receipt and security of mineral title titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those statements. General business conditions are factors that could cause actual results to differ materially from forward-looking statements. The Company undertakes no obligation to update any forward-looking information contained in this press release or other communications except as required by law.
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