Precious Metals

(TheNewswire)



Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the "Company" or "Granada") announces that it will be extending the expiry date of an aggregate 6,861,806 share purchase warrants (the "Warrants") by two years.  The 6,861,806 Warrants are due to expire on October 18 and November 6, 2021. The expiry date will be extended by two years and the Warrants will now expire on October 18 and November 6, 2023.  All other terms and conditions remain constant

The private placement units were issued at a price of $0.15 per unit and consisted of one common share and one Warrant entitling the holder to purchase one additional common share at an exercise price of $0.15 per share for a period of three years from closing.  The amendment is subject to the approval of the TSX Venture Exchange.

About Granada Gold Mine Inc.

Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.

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 twenty-two mineralized structures trending east-west over five and a half kilometers. 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 with open pit grades from 3.5 to 5 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 1930's from two shafts before a fire destroyed the surface buildings.  In the 1990's, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au.  They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.

"Frank J. Basa"

Frank J. Basa, P. Eng.

Chief Executive Officer

For further information, Contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

P: 416-625-2342

Or:

Wayne Cheveldayoff,

Corporate Communications

P: 416-710-2410

E: waynecheveldayoff@gmail.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

Copyright (c) 2021 TheNewswire - All rights reserved.

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Extensional Targets Deliver Shallow, High-Grade Intersections

Sarama Resources Ltd. ("Sarama" or the "Company") (ASX:SRR)(TSX-V:SWA) is pleased to announce that exploration drilling at its 100%-owned(4) Sanutura Project (the "Project") has intersected new high-grade mineralisation and identified extensions to selected lodes at the MM Prospect within the Tankoro Deposit. The new mineralisation is located near-surface in oxide material outside the current Mineral Resource and has potential to enhance open pit stripping ratios in any eventual mine development. Sarama intends to pursue these types of targets in upcoming drill programs

The reported drilling totals 2,200m and represents the fifth discovery of new mineralisation in the ongoing +50,000m program, which was designed to increase the oxide component of the Project's 0.6Moz Au (Indicated) plus 2.3Moz Au (Inferred)(1) Mineral Resource.

Highlights

  • New, high-grade mineralisation intersected from surface and outside the modelled Mineral Resource at the MM Prospect
  • Highlighted downhole intersections from new assays include:
    • 21m @ 7.57g/t Au from surface in TAA359;
    • 15m @ 2.48g/t Au from 15m in TAR041;
    • 13m @ 1.41g/t Au from 21m in TAR042;
    • 13m @ 1.36g/t Au from 29m in TAR040; and
    • 30m @ 0.84g/t Au from 8m in TAA411
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  • Results continue to support the thesis that potential remains for significant new discoveries close to known mineralisation
  • Results from the final suite of assays in the Q2/Q3 2022 program will be announced later this quarter
  • Follow-up drilling, including greenfields exploration drilling, expected to commence in 2023

Sarama's President, CEO & MD, Andrew Dinning commented:

"We are very pleased with the quality of results from the Q2/Q3 2022 exploration program. As per previous releases, these most recent results continue to illustrate the potential for new discoveries within the Tankoro Deposit's very large and prospective mineralised corridor. We look forward to completing the current drill program and following-up the multitude of exciting discoveries made so far."

Sarama Resources Ltd., Monday, November 28, 2022, Press release picture

Figure 1 - Tankoro Deposit Location Plan - Continued Exploration Success for Oxide Targets

A Growth-Oriented Drill Program in Oxide Material

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