Granada Gold Mine announced the filing on SEDAR of a technical report for its Granada Gold Project. The report dated August 20, 2022, is entitled "Technical Report on the Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada. The report was prepared following the regulations laid out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI-43-101"), by Yann Camus, P.Eng.

and Maxime Dupéré, géo, of SGS Canada Inc., who are independent "Qualified Persons" as defined by NI 43-101. Qualified Persons: For the purposes of this announcement, Yann Camus, P.Eng., is a Qualified Person in accordance with National Instrument 43-101 and has reviewed and approved the technical content of this news release with respect to the Mineral Resource Estimate. As independent QP, Mr. Camus was responsible for the preparation of the technical information contained within the report.

Claude Duplessis, P.Eng., of Goldminds Geoservices Inc., a geological, environmental and mining consultant and qualified person in accordance with National Instrument 43-101, has reviewed and approved the contents of this news release. Mineral Resource Estimate: On August 20, 2022 the Company released an updated NI 43-101 technical report supporting the resource estimate update for the Granada Gold project reporting that the Granada deposit contains an updated mineral resource, at a base case cut-off grade of 0.55 g/t Au for pit constrained mineral resources within a conceptual pit shell and at a base case cut-off grade of 2.5 g/t for underground mineral resources within reasonably mineable volumes, 543,000 ounces of gold (8,220,000 tonnes at an average grade of 2.05 g/t Au) in the Measured and Indicated category, and 456,000 ounces of gold (3,010,000 tonnes at an average grade of 4.71 g/t Au) in the Inferred category. Please see Table 1 below for full details.

Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, P.Geo., SGS Canada Inc. dated August 20th, 2022 and with an effective date of June 23rd, 2022. 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 surfacebuildings.

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.