Granada Gold to Participate in John Tumazos Mining Conference Webinar on February 16 at 8:30 am Eastern


Canada NewsWire

ROUYN NORANDA, QC,Feb. 12, 2021/CNW Telbec/ – Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (FRANKFURT: B6D) (the “Company” or “Granada”) is pleased to announce that it will participate in a John Tumazos Very Independent Research LLC 2021 Conference webinarTuesday February 16, 2021at8:30 amEastern.Frank Basa, President and CEO, will present a company update including theJanuary 29, 2021resource update showing higher grade open-pit and underground gold resources and the ongoing drill program and bulk sampling activity underway at theGranadadeposit aimed at expanding the resource estimate to 2.5 to 3 million ounces with a 120,000-metre drill program.  The webinar will include a question-answer session.Registration to the webinar can be found at: registering, you will receive a confirmation email containing information about joining the webinar.The corporate presentation for the webinar can be found at: Mineral ResourceThe updated resource at the Company’s Granada Gold project inRouyn-Noranda, Quebecwas estimated by SGS Canada and outlined in aJanuary 29, 2021news release.Updated Mineral Resource Estimate Base Case with Details Between the Open Pit Portion and the Underground Portion

Updated Mineral Resource Estimate Base Case with Details Between the Open Pit Portion and the Underground Portion (CNW Group/Granada Gold Mine Inc.)
  1. Cut-off grades are based on a gold price ofUS$1,600per ounce, a foreign exchange rate ofUS$0.76for CA$1, a gold recovery of 93%
  2. Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell
  3. Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes

Qualified PersonsFor the purposes of this announcement,Claude Duplessis, P. Eng., of Goldminds Geoservices Inc., a geological, environmental and mining consultant and qualified person in accordance with National Instrument 43-101, has reviewed and approved the contents of this news release.About Granada Gold Mine Inc.Granada Gold Mine Inc. continues to develop the Granada Gold Property nearRouyn-Noranda, Quebec. Approximately 120,000 meters of drilling has been completed to date on the property, focused mainly on the extended LONG Bars zone which trends 2 kilometers east-west over a potential 5.5 kilometers of mineralized structure. The highly prolific Cadillac Break, the source of more than 75 million plus ounces of gold production in the past century, cuts through the north part of theGranadaproperty, but is not necessarily indicative of mineralization hosted on the company’s property.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 two shafts and two open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to236 mand498 mwith open pit grades from 5 to 3.5 grams per tonne gold.The Company is in possession of all mining permits required to commence the initial mining phase, known as the “Rolling Start”, which allows the company to mine up to 550 tonnes per day. Additional information is available”Frank J. Basa”Frank J. Basa P. Eng.President and Chief Executive OfficerNeither 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.

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