Granada Gold Mine Inc. provided a gold assay of 4.33 grams per tonne on its 500-tonne bulk sample taken from surface in 2020. Highlights: A 500-tonne mineralized, and 900-tonne waste rock bulk sample were taken from surface in 2020. A 10.5-tonne composite sample was screened from the 500-tonne mineralized bulk sample.

The 10.5-tonne composite sample was crushed, ground and screened at 20 mesh to ensure no visible gold was in the sample to be evaluated. The 500-tonne bulk sample was taken 400 meters east of Pit #1 on the Vein 1 structure which trends 5.2 kilometers east-west. Historically Vein 1 was mined from underground in the thirties at 9-10 grams per tonne gold, and mined by open pit in 1993-94 at 5.17 grams per tonne gold having mined 87,000 tonnes and again in 1996 at 3.46 grams per tonne gold having mined 22,095 tonnes.

Bulk Sample Assay Results: The screened, minus 20 mesh material was passed through the sampling tower at Temiskaming Testing Laboratory (TTL) in Cobalt, Ontario. Five super sacs were sampled by taking four samples from each super sac for assaying. Duplicate assays were run on one sample per super sac.

No visible gold was recovered when processing the minus 20 mesh portion of the bulk sample. Visible gold was present in the plus 20 mesh material. At this stage of evaluating the surface mineralization sample, the company is assessing the grade of the material without any high-grade visible gold.

It has been estimated, based on metallurgical testing, that close to 50% of the gold at Granada is in native form (43-101 Technical Report Updated Mineral Resource Estimate, March 15, 2021). Qualified person: The technical information in this news release has been reviewed by Frank J. Basa, P.Eng., member of Ontario Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards. Quality Control and Reporting Protocols: The subsamples and duplicates were processed at TTL.

The sample weights were 1 Kg. Each sample was split, and 500 grams were pulverized to -200 mesh, a 30-gram split was used in the fire assay process with AA finish. The process includes blanks and standards which are in line with the expected results which allow public disclosure of the results.

Quality Assurance/Quality Control (QA/QC) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes for this program in addition to the lab QA/QC. Location: The Granada Gold project is located in an established mining district 5 km south of Rouyn-Noranda adjacent to the prolific Cadillac Break shear zone, which is hosted in Pontiac metasedimentary rocks, granites, and younger syenite sills along the Granada shear zone (LONG Bars Zone).

The project is located on the same side of the Cadillac Fault as the Canadian Malartic mine property, which has historically produced 12.7 million ounces of gold from 1935 to 2010 with an additional 5 million ounces as of June 18, 2020 (Canadian Malartic Technical Report of March 25, 2021 & Le Citoyen June 19, 2020).