(TheNewswire)
Rouyn Noranda, Q.C., October 21, 2026 – TheNewswire - Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) (the “Company” or “Granada”) announces that it has granted stock options to an Officer of the Company to purchase an aggregate of 4,545,319 common shares in the capital of the Company. The stock options are exercisable for a term of four years at an exercise price of $0.05 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.
Additionally, the 4,545,319 stock options granted are subject to performance vesting as follows:
(a) 1,136,330 options shall vest upon the Company achieving a market capitalization (as defined below) of C$50 million; and
(b) the remaining 3,408,989 options shall vest upon the Company achieving a market capitalization of C$100 million. The thresholds must be achieved within three (3) years after the grant date while the Officer remains engaged by the Company.
For purposes of determining whether a Market Capitalization performance hurdle applicable to the Options has been achieved, “Market Capitalization” means, as at any applicable measurement date, the amount calculated by multiplying (i) the total number of issued and outstanding common shares of the Company as at the close of trading on such date by (ii) the closing price of the common shares of the Company on the TSX Venture Exchange on such date.
A Market Capitalization performance hurdle shall be deemed to have been achieved only if the Market Capitalization, calculated in accordance with the foregoing, equals or exceeds the applicable threshold of C$50,000,000 or C$100,000,000, as applicable, for twenty (20) consecutive trading days.
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 18,000m out of 120,000m 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 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 (43-101 reference).
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 1990s, 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. Details available in 43-101 report and on Company website: https://granadagoldmine.com/.
For further information, Contact:
Frank J. Basa, P.Eng. member of Professional Engineers Ontario
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. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
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