Granada grants options to buy 3.4 million shares
2025-09-17 05:28 ET – News Release
Mr. Frank Basa reports
GRANADA GOLD GRANTS STOCK OPTIONS
Granada Gold Mine Inc. has granted stock options to its directors and officers to purchase an aggregate of 3.4 million common shares in the capital of the company. The stock options are exercisable for a term of five years at an exercise price of five cents per share. All stock options are granted in accordance with the terms of the company’s stock option plan and the policies of the TSX Venture Exchange, and will be subject to a hold period of four months and one day.
About Granada Gold Mine Inc.
Granada continues to develop and explore its 100-per-cent-owned Granada gold property near Rouyn-Noranda, Que., and is adjacent to the prolific Cadillac Break. The company owns 14.73 square kilometres of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 18,000 metres out of 120,000 m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate, assimilate existing data and wait for improved market conditions.
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 22 mineralized structures trending east-west over 5.5 kilometres. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were eight to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open-pit grades from 3.5 to five grams per tonne gold.
The property includes the former Granada gold underground mine, which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930s from two shafts before a fire destroyed the surface buildings. In the 1990s, Granada Resources extracted a bulk sample (pit No. 1) of 87,311 tonnes grading 5.17 grams per tonne gold. It also extracted a bulk sample (pit No. 2) of 22,095 tonnes grading 3.46 g/t Au.
We seek Safe Harbor.
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