Granada Gold Completes MOU Review Period with Lafleur Minerals
2875 Ave Granada
Rouyn Noranda, Québec J9Y 1Y1
Tel : 819-797-4144 / Fax: 819-792-2306
Granada Gold Completes MOU Review Period with Lafleur Minerals
June 25 2025, Rouyn Noranda, Quebec, Granada Gold Mine Inc. (TSXV: GGM) (the
“Company” or “Granada”) reports that the non -binding Memorandum of Understanding
("MOU") with Lafleur Minerals for custom milling at the Beacon Mill has concluded
following the expiration of its 90-day term on June 23, 2025.
During the evaluation period, both parties conducted technical reviews and exchanged data
room information. Following comprehensive assessment, the companies have determined
not to proceed with a definitive milling agreement at this time.
"The three -month evaluation with Lafleur provided valuable technical insights that will
inform our go-forward strategy," stated Frank J. Basa, CEO of Granada Gold Mine. "Granada
continues to assess multiple near -term production scenarios, with our existin g permits
providing flexibility for various approaches including potential open -pit mining and ore
transportation arrangements. We are actively engaged in discussions with several parties
regarding processing alternatives and other strategic initiatives de signed to monetize our
543,000-ounce measured and indicated resource."
Key Strategic Considerations:
• Granada Gold Property remains fully permitted for mining and ore shipment
• Multiple processing pathways under active evaluation
• Strong interest from industry participants in the region
• Focus on near-term revenue generation while advancing deep drilling program
The Company anticipates providing further updates on its strategic initiatives as discussions
advance and material developments warrant disclosure.
Qualified person
The technical information in this news release was 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.
Mineral Resource Estimate
On August 22, 2022 the Company filed an updated NI 43-101 technical report supporting the
resource estimate update for the Granada Gold project (Please see July 6, 2022 news release)
reporting that the Granada deposit contains an updated mineral resource, at a base case cut-
off grade of 0.55 g/t Au for pit constrained mineral resources within a conceptual pit shell
and at a base case cut -off grade of 2.5 g/t for underground mineral r esources within
reasonably mineable volumes, of 543,000 ounces of gold (8,220,000 tonnes at an average
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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. Please see
Table 1 below for full details. Report reference : Granada Gold Project Mineral Resource
Estimate Update, Rouyn -Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and
Maxime Dupéré, B.Sc, P.Geo., SGS Canada Inc. dated August 20th, 2022 and with an effective
date of June 23rd, 2022.
Table 1: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold Ounces
Cut-Off
(g/t Au) Classification Type Tonnes Au
(g/t) Gold Ounces
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
Inferred InPit+UG 3,010,000 4.71 456,000
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 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 18,000m out of 120,000m
complete. The drills are currently paused to provide the technical team with the necessary
time to evaluate, assimilate existing data and wait for improved market conditions.
The Granada Shear Zone and the South Shear Zone contain, based on historical detailed
mapping as well as from current and historical drilling, up to twenty -two mineralized
structures trending east-west over five and a half kilometers. Three of these structures were
mined historically from four shafts and three open pits. Historical underground grades were
8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades
from 3.5 to 5 grams per tonne gold (43-101 reference).
The property includes the former Granada Gold underground mine which produced more
than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before
a fire destroyed the surface buildings. In the 1990s, Granada Resources extracted 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. Details available in 43-101 report and on
Company website: https://granadagoldmine.com/
For further information, Contact:
Frank J. Basa, P.Eng. member of Professional Engineers Ontario
Chief Executive Officer
P: 416-625-2342
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
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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 news release may contain forward -looking statements which include, but are not limited to, comments that
involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of
historical facts, comments that address resource potential, upcoming work programs, geological interpretations,
receipt and security of mineral property titles, availability of funds, and others are forward -looking. Forward -
looking statements are not guarantees of future performance a nd actual results may vary materially from those
statements. General business conditions are factors that could cause actual results to vary materially from
forward-looking statements. The Company does not undertake to update any forward-looking information in this
news release or other communications unless required by law.