Granada Gold Mine Inc. announced significant progress in its pursuit of open-pit mining with the submission of a renewal for Mining Development Lease BM-813 which is now approved for signing. This renewal, facilitated through the Directorate of Development and Control of Mining Activity (DDCAM) part of the Ministry of Natural Resources and Forestry (MNRF), marks a critical milestone in the Company's journey towards becoming a prominent gold producer on the Cadillac Break. The renewal application for Mining Development Lease BM-813, covering a 21.12-hectare area, has been submitted under the provisions outlined in Section 121 of the Mining Act.

Granada Gold anticipates now that BM-813 is approved for signing they are ready to see these consolidated mining leases (BM-813 and BM-852) monetized, underscoring the Company's commitment to advancing its operations responsibly and in compliance with regulatory standards. Mining Lease BM-813 holds significant historical significance for Granada Gold, having previously yielded notable results from high-grade vein 1. A 500-tonne surface bulk sample extracted in 2022 showcased promising grades, with a reported gold content of 3.95 grams per tonne. This vein has a rich history dating back to the 1930s when it was mined underground, yielding impressive grades of 9-10 grams per tonne gold.

Subsequent open-pit mining endeavors in 1993-1994 and 1996 further demonstrated the area's potential, with grades ranging from 3.46 to 5.17 grams per tonne gold.