Granada Closes Flow-Through Financing
2875 Ave Granada
Rouyn Noranda, Québec J9Y 1Y1
Tel : 819-797-4144 / Fax: 819-792-2306
GRANADA CLOSES FLOW-THROUGH FINANCING
December 1, 2017, Granada Gold Mine (TSX.V: GGM) (“Granada Gold ” or the “Company”) is pleased
to announce that further to its news release dated November 24, 2017, the Company has closed its
non‐brokered private placement offering raising gross proceeds of $700,000. The Company issued
2,000,000 flow‐through shares (“FT Shares”) at a price of $0.35 p e r F T S h a r e , s u b j e c t t o T S X V e n t u r e
Exchange (“Exchange”) approval.
Finder’s fees totalling $63,000 payable in cash and 180,000 broker warrants were paid in connection
w i t h t h e f i n a n c i n g . T h e b r o k e r warrants are exercisable at $0.35 per share for a period of two years
fr om c los ing . The fi nde r ’s fe e s p a id in c onne c t ion w it h t he p rivate placement 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.
All securities issued in connection with the private placement are subject to a four month and a day hold
period expiring on April 2, 2018, in accordance with applicable Securities Laws.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. is developing the Granada Gold Property 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 A u a t a c u t ‐ o f f
grade of 1.5 g / t (1.5 m i l l i o n o z . A u ) h a s b e e n o u t l i n e d a l o n g 600 m e t e r s o f s t r i k e , n o r t h o f t h e
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 Au with a cut‐off grade of 0.39
g/t Au (807,700 o u n c e s M & I a t 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.