Granada Gold Engages GoldMinds to Update Mineral Resource Estimate

Rouyn Noranda, Q.C. — May 19, 2026 — Leads & Copy — Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) has engaged GoldMinds Geoservices Inc. to update the NI 43-101 compliant Mineral Resource Estimate (MRE) for the Granada Gold Project near Rouyn-Noranda, Québec.

The MRE update will incorporate drilling and exploration data accumulated since the last resource update and will evaluate the deposit using various cut-off grades for pit-constrained mineral resources. Claude Duplessis, P.Eng., President of GoldMinds Geoservices Inc., will direct the MRE preparation as the Qualified Person under NI 43-101.

The approach builds on GoldMinds’ methodology in its May 2017 NI 43-101 Technical Report, which reported pit-constrained Measured resources of 17,068,500 tonnes at 1.14 g/t Au for 625,000 ounces and Indicated resources of 4,507,000 tonnes at 1.26 g/t Au for 182,700 ounces (combined Measured and Indicated of 21,575,500 tonnes at 1.16 g/t Au for 807,700 ounces), plus Inferred underground resources of 10,386,500 tonnes at 4.56 g/t Au for 1,523,800 ounces. The company believes that a re-evaluation of the deposit at current price levels is warranted and could demonstrate a materially larger economic resource envelope.

The study will also consider the integration of ore sorting technology, following the Company’s recent independent test program at the Saskatchewan Research Council, which demonstrated a 2.7x gold grade uplift with 88 percent recovery (see news release dated April 28, 2026).

Frank J. Basa, P.Eng., President and CEO, stated that the original author of the 2017 historical resource estimate is updating his work with additional drilling data, a structural reinterpretation of the deposit, and a new gold price environment. He added that GoldMinds was engaged due to Claude Duplessis and his team bringing direct continuity with the geological model and block model they built for the deposit.

The GoldMinds engagement includes a two-phase scope of work. The Mineral Resource Estimate Update will include a mass model update, updated pit-constrained and underground mineable shape optimization, and preparation of an NI 43-101 compliant technical report. The update will incorporate data from all drill programs through 2025, including the 158,000+ metres drilled from surface across more than 1,000 holes, as well as the structural interpretation completed by Ronacher McKenzie Geoscience Inc. (see news releases dated November 17, 2025 and January 8, 2026).

The May 2017 historical mineral resource estimate prepared by GoldMinds Geoservices Inc. (the “2017 Historical Estimate”) used a pit-constrained methodology with a 0.39 g/t Au cut-off (US$1,250/oz gold, CDN/US exchange rate of 1.37) for pit-constrained M&I resources and a 1.5 g/t Au cut-off ($81.99 per tonne) for underground Inferred resources. Key parameters include: a density of 2.7 to convert volume to tonnage; original assays capped at 60 g/t Au for compositing; gold recovery of 94.1% for full mill cyanidation; search ellipsoid estimation ID2 of 50x50x5, 100x100x10, 200x200x15 and 300x300x20; open-pit constrained resources modelled on 10mE x 5mN x 5mZ block size and underground resources on 10mE x 3mN x 3mZ. Classification criteria required a minimum of 4 holes with 2 composites per hole for Measured, 3 holes with 2 composites per hole for Indicated, with the remainder classified as Inferred.

The most recent NI 43-101 mineral resource estimate for the Granada Gold Project was prepared by SGS Canada Inc. with an effective date of June 23, 2022 (see July 6, 2022 news release), reporting 543,000 ounces of gold (8,220,000 tonnes at 2.05 g/t Au) in the Measured and Indicated category and 456,000 ounces of gold (3,010,000 tonnes at 4.71 g/t Au) in the Inferred category, at cut-off grades of 0.55 g/t Au (pit-constrained) and 2.5 g/t Au (underground). The GoldMinds MRE update will re-evaluate the deposit using current economic parameters and various gold cut-off grade frameworks, incorporating additional drilling data and the recently completed structural reinterpretation.

The MRE update and PEA represent a systematic advancement of the Granada Gold Project toward a production decision. The Company holds a Certificate of Authorization from the Québec MDDELCC authorizing the mining of 550 tonnes per day for approximately 590,000 tonnes, structured as a phased Rolling Start pathway.

Matthew Halliday, P.Geo., Director of Granada Gold Mine Inc. and member of the Ordre des Géologues du Québec, reviewed and approved the technical information in this news release.

Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, adjacent to the Cadillac Break. The Company is currently advancing the Granada Gold Project through an updated mineral resource estimate and preliminary economic assessment, with drilling planned to target both lateral extensions and depth expansion of the existing mineral resource.

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. 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 1930's from two shafts before a fire destroyed the surface buildings.

Source: Granada Gold Mine Inc.