Granada Closes Shares for Debt Transaction

(TheNewswire)

January 20, 2026 – TheNewswire- Granada Gold Mine Inc. (TSXV: GGM)(“Granada Gold” or the “Company”) announces that further to its newsrelease dated January 16, 2026, the Company has closed the shares fordebt transaction and the Company has issued 3,000,000 common shares ata deemed price of $0.10 per share to certain non-arm’s lengthcreditors to settle $300,000 worth of debt owed to thecreditors.

All securities issued in connection with the shares fordebt transaction will be subject to a four?month and a day holdperiod expiring on May 21, 2026 in accordance with applicable Canadiansecurities laws.  

About Granada Gold Mine Inc.

Granada Gold Mine Inc. continues to develop and exploreits 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, andis adjacent to the prolific Cadillac Break. The Company owns 14.73square kilometers of land in a combination of mining leases andclaims. 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 thenecessary time to evaluate, assimilate existing data and wait forimproved market conditions. 

The Granada Shear Zone and the South Shear Zonecontain, based on historical detailed mapping as well as from currentand historical drilling, up to twenty-two mineralized structurestrending east-west over five and a half kilometers. Three of thesestructures were mined historically from four shafts and three openpits. Historical underground grades were 8 to 10 grams per tonne goldfrom two shafts down to 236 m and 498 m with open pit grades from 3.5to 5 grams per tonne gold (43-101 reference).

The property includes the former Granada Goldunderground mine which produced more than 50,000 ounces of gold at 10grams per tonne gold in the 1930’s from two shafts before a firedestroyed the surface buildings.  In the 1990s, Granada Resourcesextracted 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 grading3.46 g/t Au.  Details available in 43-101 reportand 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 norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.

This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking.Forward-looking statements are not guarantees of future performanceand actual results may vary materially from those statements. Generalbusiness conditions are factors that could cause actual results tovary materially from forward-looking statements. Forward-lookingstatements in this news release may include statements regardingacceptance of the Exchange of the Transaction and the of completion ofthe Transaction. Although the Company believes the expectationsreflected in the forward-looking statements are reasonable, resultsmay vary. The Company doesnot undertake to update any forward-looking information in this newsrelease or other communications unless required by law.

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