Granada Gold Mine Seeks Drill Permits to Expand Mineral Resources

Granada Gold Mine Inc. has applied for drill permits to expand its mineral resources at its 100%-owned Granada Gold Project near Rouyn-Noranda, Québec. The project, located adjacent to the Cadillac Break in the Abitibi gold belt, has a history of extensive exploration, including more than 150,000 metres of drilling in approximately 1,000 drill holes. These efforts have delineated mineral resources over approximately 2 kilometres of an estimated 5.5 kilometre east-west mineralized structure. The deposit remains open along strike and at depth, with approximately 20% of the property having been explored to date.

Following the appointment of J.W. Dumont as President on September 28, 2026, the Company’s immediate priority is to prepare for renewed drilling and align exploration spending with its financing plans. Dumont, who previously served as the Chief Operating Officer of a major mining company, brings a wealth of experience to the role.

The 2026 mineral resource estimate, effective June 8, 2026, reports Measured and Indicated Mineral Resources of 890,600 ounces of gold (15,982,000 tonnes at 1.73 g/t Au), and separately Inferred Mineral Resources of 865,500 ounces (20,096,000 tonnes at 1.34 g/t Au). Pit-constrained and underground resources are reported at cut-offs of 0.25 and 1.4 g/t Au, respectively. The estimate is supported by the amended NI 43-101 technical report dated September 9, 2026, prepared by independent Qualified Person Claude Duplessis, P.Eng., of GoldMinds Geoservices Inc. The 2026 update reflects revised economic assumptions and cut-offs and did not include additional diamond drilling after the 2022 resource estimate. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Inferred resources have lower confidence, and there is no assurance that further work will upgrade them.

The Granada Shear Zone and the South Shear Zone contain up to twenty-two mineralized structures trending east-west over five and a half kilometres. 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 from two shafts down to 236 m and 498 m. Open pit grades from 3.5 to 5 grams per tonne gold were also recorded. 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 #1) of 87,311 tonnes grading 5.17 g/t Au and another sample (Pit #2) of 22,095 tonnes grading 3.46 g/t Au. Details of these historical operations are available in the 43-101 report and on the Company’s website.

The Company will announce the finalized scope, budget, and schedule once confirmed. Drilling remains subject to required permits, financing, and contractor availability. The 2026 mineral resource estimate, effective June 8, 2026, reports Measured and Indicated Mineral Resources of 890,600 ounces of gold (15,982,000 tonnes at 1.73 g/t Au), and separately Inferred Mineral Resources of 865,500 ounces (20,096,000 tonnes at 1.34 g/t Au). Pit-constrained and underground resources are reported at cut-offs of 0.25 and 1.4 g/t Au, respectively.