GGM.V · 2018-11-08 12:00:00

Granada Gold Drills 5.07 G/T Over 11 Meters at Granada

Drill Results

Granada Gold Drills 5.07 G/T Over 11 Meters at

Granada

ROUYN NORANDA, QC

Nov. 8, 2018

/CNW/ - Granada Gold Mine (TSXV: GGM) ("Granada Gold"

or the "Company") is pleased to announce its latest partial drill results at the

Granada

property

located along the prolific

Cadillac Trend

Northern Quebec, Canada

Highlights

5.07 G/T AU

over

11 M

in hole GR-18-03

13.21 G/T AU

over

1.5 M

including

37.3 G/T AU

over

0.5 M

in hole GR-18-04

VG (visible gold) observed in hole GR -18-04

Hole GR-18-03 intersected gold mineralization at depth, tested the Magnetic anomaly in the center

of the property, and expands the quality of the mineral resource along the plunge of the deposit. A

new finding in hole GR-18-04 shows an unusual geological context with a strong reddish(hematised)

silicified conglomerate with disseminated sulfides including visible gold (VG) grains. The discovery

opens new ground at a much shallower depth than was initially expected at this position on the

Granada

property. The new finding of Hole GR-18-04 to the north-west is located at 600 metres

from surface which open new sector for exploration.

"The GR-18-03 high-grade intercept over a significant core length continue expanding the quality of

our mineralized zone at

Granada

." stated

Frank J. Basa P.Eng

., President and Chief Executive

Officer of Granada Gold Mine.

At the time of this press release, three holes had been completed for 2178 meters with a fourth in

progress.

Partial Results Table

Hole name

From(m)

To(m)

Length(m)

Au g/t

Type

GR-18-03

567.00

578.00

11.00

5.07

including

569.00

574.00

5.0

9.85

including

573.00

574.00

1.0

45.7

GR-18-04

662.00

663.50

1.5

13.21

including

662.50

663.00

0.5

37.3

•

Core length, not capped FA=Standard Fire assay, SM Screen Metallic 1kg

Not all the core has been analyzed, these are partial results only. The Company considers this

discovery to be significant and a potential game changer in the evolution of

Granada

and has taken

the decision to disclose the assays already received. As more results come in, a similar

determination will be made regarding immediate release.

QA/QC

Core samples were logged by GoldMinds geologists then cut in half using a rock saw at the

Granada

site by Technominex technicians. Standards and blanks were inserted in the sequence at

every 20 samples. Standard preparation was completed at ALS Rouyn-Noranda with gold analysis

conducted in

Val d'Or

while multi element assays were completed in

Vancouver

. For the new gold

discovery, a special preparation with screen metallic of 1 kg was used due to visible gold being

observed within the core. The standards and blanks are in line with expected values and allow for

the public disclosure of these analytical results.

Qualified Person

Dr.

Merouane Rachidi P. Geo

a geological, environmental and mining consultant and

Claude

Duplessis

, P. Eng., of GoldMinds Geoservices Inc., are qualified persons in accordance with

National Instrument 43-101. Both have both reviewed and approved the contents of this news

release.

About Granada Gold Mine Inc.

Granada Gold Mine Inc. is continuing to develop 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 at 10 grams per tonne gold in the 1930's before a fire destroyed the surface

buildings. The property has 120,000 meters of drilling completed to date which has been focused on

the extended LONGBARS zone which trends 2 kilometers east west over a potential 5.5 kilometers

mineralized structure. The highly prolific

Cadillac Trend

, the source of 50 million plus ounces of gold

production in the past century, cuts right through the north part of the

Granada

property on a line

running from

Val-d'Or

Rouyn-Noranda Quebec

The Company is in possession of all permits required to commence the initial mining phase known as

the "Rolling Start" to production with stripping underway. Exploration drilling is ongoing with the goal

of increasing the mineral resource at

Granada

. Additional information is available at

www.granadagoldmine.com

"Frank J. Basa"

Frank J. Basa P. Eng

President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Service 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 including but not limited to

comments regarding the timing and content of upcoming work programs, geological interpretations,

receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements

address future events and conditions and therefore, involve inherent risks and uncertainties. Actual

results may differ materially from those currently anticipated in such statements.

Granada Gold 2018 Drilling Campaign (CNW Group/Granada Gold Mine Inc.)

SOURCE

Granada Gold Mine Inc.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/November2018/08/c5816.html

%SEDAR: 00004087E

For further information:

Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144; or Wayne

Cheveldayoff, Corporate Communications, at 416-710-2410 or [email protected]

CO: Granada Gold Mine Inc.

CNW 11:12e 08-NOV-18

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