Granada Gold Mine Inc. Reports Significant Increase in Mineral Resources for Granada Gold Project

Rouyn-Noranda, Quebec – June 23, 2026 – TheNewswire — Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) announced an updated Mineral Resource Estimate (2026 MRE) for its wholly-owned Granada Gold Project, located near Rouyn-Noranda, Quebec. The project is situated on the Abitibi greenstone belt, adjacent to the Cadillac Break, and is within trucking distance of several operating gold mines and mills in northwestern Quebec.

The 2026 MRE integrates both in-pit and underground Mineral Resources, re-evaluating an independent block model from SGS Canada Inc. that was used for the Company’s 2022 estimate. The updated estimate incorporates revised economic parameters, including the current gold price, adjusted cut-off grades, and updated processing and site assumptions to reflect the prevailing gold price environment.

Key highlights of the 2026 MRE include a 64% increase in Measured and Indicated in-pit and underground Mineral Resources, totaling 890,600 ounces of gold (15,982,000 tonnes grading 1.73 g/t Au). This compares to the 2022 estimate of 543,000 ounces (8,220,000 tonnes at 2.05 g/t Au). Additionally, Inferred in-pit and underground Mineral Resources saw a 90% increase, reaching 865,500 ounces of gold (20,096,000 tonnes grading 1.34 g/t Au), up from the 2022 estimate of 456,000 ounces (3,010,000 tonnes at 4.71 g/t Au).

The growth in resources is attributed primarily to a substantial rise in the gold price since the 2022 estimate. This has allowed for lower economic cut-off grades to be applied: 0.25 g/t Au for in-pit resources and 1.4 g/t Au for underground resources, a reduction from the 0.55 g/t and 2.5 g/t used in 2022, respectively. The deposit remains open along strike and at depth, with Mineral Resources delineated over approximately 2 kilometers of an estimated 5.5-kilometer mineralized east-west structure. Only about 20% of the property has been explored to date.

Granada Gold Mine Inc. plans to include this estimate in a forthcoming NI 43-101 technical report, which will be filed on SEDAR+ within 45 days of this news release.

The Company also highlighted its path to production, supported by a Certificate of Authorization from the Québec Ministère du Développement durable, de l’Environnement et de la Lutte contre les changements climatiques. This authorization permits mining of 550 tonnes per day, structured as a phased “Rolling Start” bulk-sample pathway. Recent ore-sorting results, completed at the Saskatchewan Research Council, demonstrated a 2.7-times gold-grade uplift with 88 percent gold recovery, with approximately two-thirds of the material rejected as waste before milling. These results are expected to improve the economics of the Rolling Start and the broader project, potentially supporting on-site processing with a reduced environmental footprint per ounce.

The Granada Gold Project includes the former Granada Gold underground mine, which produced over 50,000 ounces of gold at approximately 10 g/t Au in the 1930s. Historical bulk samples in the 1990s returned open-pit grades of 5.17 g/t Au and 3.46 g/t Au. The property hosts the Granada Shear Zone and South Shear Zone, with up to twenty-two mineralized structures trending east-west over approximately 5.5 kilometers.

The Mineral Resource Estimate was prepared by Claude Duplessis, ing. (P.Eng.), of GoldMinds Geoservices Inc., an independent Qualified Person. A technical report supporting the 2026 MRE will be filed on SEDAR+ within 45 days. The estimate has an effective date of June 8, 2026, and is reported in accordance with CIM Definition Standards (2019) and CIM Estimation Best Practice Guidelines. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

Source: Granada Gold Mine Inc.