Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) announces that the Company has closed a non-brokered private placement by way of issuing 12,053,333 units (“Units”) at a price of $0.06 per Unit raising gross proceeds of $723,200.

The proceeds of the private placement will be used for surface exploration, trenching, and historical resampling of drill core on the Company’s Granada Gold Property in Québec and for general working capital purposes.

Mineral Resource Estimate

On March 15, 2021, the Company released an updated NI 43-101 resource estimate for the Granada Gold project with a combined total of 713,000 gold ounces of measured, indicated, and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated, and inferred for the open pit and 362,000 gold ounces of combined measured, indicated, and inferred for the underground.

About Granada Gold Mine Inc.

Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec which is 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 large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.