GRANADA ANNOUNCES PRIVATE PLACEMENT announces a non‐brokered private placement offering of up to 4, 000,000 units (“Units”) at a price of $0.25 per Unit for gross proceeds of up to $1,000,000. Each Unit is co mprised of one common
2875 Ave Granada
Rouyn Noranda, Québec J9Y 1Y1
Tel : 819-797-4144 / Fax: 819-792-2306
GRANADA ANNOUNCES PRIVATE PLACEMENT
January 22, 2018 Granada Gold Mine Inc. (TSX.V: GGM) (“Granada G o l d ” o r t h e “ C o m p a n y ” )
announces a non‐brokered private placement offering of up to 4, 000,000 units (“Units”) at a price
of $0.25 per Unit for gross proceeds of up to $1,000,000. Each Unit is co mprised of one common
share of the Company and one share purchase warrant. Each whol e warrant will entitle the holder
thereof to purchase one additional common share of the Company at an exercise price of $0.35 per
s h a r e , f o r a p e r i o d o f t w o y e a r s f r o m c l o s i n g , s u b j e c t t o T S X Venture Exchange (“Exchange”)
approval.
Finder’s fees may be paid in connection with the private placem ent and all finder’s fees payable are
subject to Exchange approval.
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.
All securities issued in connection with the private placement are subject to a four month and a day
hold period in accordance with applicable Securities Laws.
About Granada Gold Mine Inc.
G r a n a d a G o l d M i n e I n c . i s d e v e l o p i n g t h e G r a n a d a G o l d P r o p e r t y near Rouyn‐Noranda, Quebec. The
property includes the former Granada gold mine which produced more than 50,000 ounces of gold in
the 1930’s before a fire destroyed the surface buildings. The highly prolific Cadillac Trend, which has
been the source of more than 50 million ounces of gold produced in the past century on a line running
from Val‐d’Or to Rouyn‐Noranda, cuts through the north part of the property.
An updated Mineral Resource Estimate and revised Block Model dated June 30, 2017, with effective date
of May 16, 2017, includes the first material estimate of high‐grade gold resources discovered in zones at
depth immediately north of the LONG Bars Zone open‐pit deposit.
An initial Inferred underground resource of 10,386,500 tonnes grading 4.56 g/t Au at a cut‐off grade of
1.5 g / t (1.5 million oz. Au) has been outlined along 600 meters of strike, north of the original near‐
surface discovery at Granada. Open‐pit‐constrained resources have 625,000 ounces Measured at 1.14
g/t Au and 182,700 ounces Indicated at 1.26 g / t A u w i t h a c u t ‐ o f f g r a d e o f 0 . 3 9 g / t A u (807,700
ounces M&I at 1.16 g/t Au) representing a major increase in Block Model estimates for Granada vs.
2012 Block Model.
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The Company has obtained all necessary permits for the initial mining phase known as the “Rolling
Start” for which stripping has already begun, and has been conducting exploration drilling in order to
expand the reported mineral resource for the property. Addition al information is available at
www.granadagoldmine.com.
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
For further information, please contact:
Frank J. Basa, P. Eng., President and CEO at 1‐819‐797‐4144 or
Wayne Cheveldayoff, Investor Relations, at 416‐710‐2410 or [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Pro vider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the ade quacy or accuracy of this release. This news
release may contain forward‐looking statements including but no t limited to comments regarding the timing
and content of upcoming work pro grams, geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. F o r w a r d ‐ l o o k i n g s t a t e m e n t s a d dress future events and conditions and
therefore, involve inherent risks and uncertainties. Actual res ults may differ materially from those currently
anticipated in such statements.