Granada Gold Mine Inc. (TSXV: GGM | OTC: GBBFF | Frankfurt: B6DA) has announced it has applied for drill permits at its 100%-owned Granada Gold Project near Rouyn-Noranda, Québec, targeting both infill and exploration drilling across a property that the company says remains approximately 80% unexplored. The move follows newly appointed President J.W. Dumont's stated priority of renewing drilling activity after taking the role on September 28, 2026. With Measured and Indicated Mineral Resources of 890,600 ounces of gold and Inferred Mineral Resources of 865,500 ounces, investors may be watching whether planned drilling can support a meaningful resource update along the broader 5.5 km mineralized structure.

Key Points

  • Granada Gold Mine Inc. (TSXV: GGM | OTC: GBBFF | Frankfurt: B6DA) announced the drill permit application on October 7, 2026.
  • The company has applied for permits to conduct both infill and exploration drilling at its Granada Gold Project in the Abitibi gold belt.
  • The 2026 resource estimate reports 890,600 oz M&I at 1.73 g/t Au and 865,500 oz Inferred at 1.34 g/t Au, effective June 8, 2026.
  • Drilling remains subject to permit approvals, financing, and contractor availability; finalized scope and budget have not yet been disclosed.

Granada Gold Project's Mineral Resource Base and Exploration Upside

Granada's 2026 mineral resource estimate, effective June 8, 2026, reports Measured and Indicated Mineral Resources of 890,600 ounces of gold across 15,982,000 tonnes at 1.73 g/t Au, along with Inferred Mineral Resources of 865,500 ounces from 20,096,000 tonnes at 1.34 g/t Au. The estimate was prepared by independent Qualified Person Claude Duplessis, P.Eng., of GoldMinds Geoservices Inc., and is supported by an amended NI 43-101 technical report dated September 9, 2026. Importantly, the 2026 update did not include diamond drilling beyond the 2022 resource estimate, and reflects revised economic assumptions and cut-offs.

Infill and Exploration Drilling Strategy Across the 5.5 km Mineralized Corridor

The Granada property hosts an estimated 5.5 km east-west mineralized structure, of which mineral resources have been delineated over approximately 2 km. More than 150,000 metres of historical drilling across approximately 1,000 drill holes have been completed, yet the company states only about 20% of the property has been explored to date. The planned program intends to combine infill drilling to increase confidence in the existing resource with exploration drilling targeting strike extensions and depth potential. The deposit remains open along strike and at depth, the release states.

New Leadership Aligns Drill Plans With Financing Strategy

J.W. Dumont, appointed President on September 28, 2026, stated the company's immediate priority is preparing for renewed drilling aligned with its financing plans. Dumont noted in the release that the focus is on disciplined capital allocation to maximise long-term shareholder value and that results should guide future exploration spending. The company indicated it will announce the finalized scope, budget, and schedule once confirmed. Drilling remains conditional on receiving required permits, securing financing, and contractor availability.