Granada Gold Mine Announces $2.5 Million Private Placement
Rouyn Noranda, Q.C. — January 30, 2026 — Leads & Copy — Granada Gold Mine Inc. plans to raise up to $2.5 million through a non-brokered private placement offering of up to 50 million units at a price of $0.05 per unit.
Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will allow the holder to purchase one common share at $0.075 per share for five years from the issuance date.
The company may pay finders’ fees related to the offering to eligible arm’s length finders, following applicable securities laws and TSXV policies.
Granada Gold intends to use the net proceeds for a resource update, exploration, and general corporate purposes related to the company’s Granada Gold Property near Rouyn-Noranda, Quebec.
All securities issued in connection with the private placement will be subject to a four-month hold period, plus one day, according to Canadian Securities Laws.
The offering’s completion is subject to necessary regulatory approvals, including approval from the TSX Venture Exchange.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States or any jurisdiction where such an offer, solicitation, or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.
Matthew Halliday, P.Geo., a director of Granada Gold Mine Inc. and a member of the Ordre des Géologues du Québec, reviewed and approved the technical information in the release. Halliday is a Qualified Person as defined by National Instrument 43-101.
An updated NI 43-101 technical report filed August 22, 2022, supports the resource estimate update for the Granada Gold project. The report states that, at a base case cut-off grade of 0.55 g/t Au for pit-constrained mineral resources and 2.5 g/t for underground mineral resources, the Granada deposit contains 543,000 ounces of gold (8,220,000 tonnes at an average 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.
Granada Gold Mine Inc. is developing and exploring its wholly-owned Granada Gold Property near Rouyn-Noranda, Quebec, adjacent to the Cadillac Break. The company owns 14.73 square kilometers of land through mining leases and claims. A large drill program is underway, with 20,000m completed out of a planned 120,000m. Drilling is currently paused to allow the technical team to evaluate data and await improved market conditions.
The Granada Shear Zone and the South Shear Zone contain up to twenty-two mineralized structures trending east-west over five and a half kilometers, based on historical mapping and drilling. 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, and open pit grades ranged from 3.5 to 5 grams per tonne gold.
The property includes the former Granada Gold underground mine, which produced over 50,000 ounces of gold at 10 grams per tonne in the 1930s. In the 1990s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au and a bulk sample (Pit #2) of 22,095 tonnes grading 3.46 g/t Au.
Source: Granada Gold Mine Inc.
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