Shareholder Update
Dear Shareholders
Since my last biannual update, my colleagues and I have continued to develop our interests and build sustainable social license foundations of our small-mines focused business plan. We are making considerable progress at our Guilianita near-term gold-producing property in Peru, in an area of the world where change is incremental but respect for process and social license promises great reward.
Together with our team of geological, environmental and cultural experts in Canada and Peru, our wholly owned subsidiary Recuperación Realzada S.A.C., is working together with all stakeholders – community interest groups, informal miners and government agencies – to create the sustainable and mutually beneficial development and production model we envisioned when we added a small-mines component to our business plan.
Grandview Chairman Dr. Michael Hitch, PH.D., P.Geo, and I have made several trips to Giulianita, returning just last week from our most recent and perhaps most productive visit. We begin this new year with increased enthusiasm and confidence in Grandview’s presence in Peru, and the potential for shareholder appreciation. Though the process of introduction, due diligence and partnership building has been at times slow and frustrating, we have many reasons to believe that, ultimately the reward will be well worth our efforts and patience. We enjoy the strong support of local mining and non-mining groups, and the greater community of which we are now part. What we hope this means for Grandview and for all stakeholders is more frequent and detailed communication, and a relatively short road to production in Peru.
Notwithstanding the year that has passed since we raised the $2 million to explore and engage the Giulianita opportunity, we were able to prudently manage and consolidate company holdings and assets in North and South America, and our non-flow-through cash position currently sits at around $1million. So, we continue to engage the informal miners and mineral processors, and consider the advice and engagement of the local business community, and advantage the expertise of two of Grandview’s uniquely qualified Canadian advisors, Dr. Marcello Veiga, PH,D., P.E, and Dr. Bernard Klein, PH.D., P.Eng, We will report news of our progress at Giulianita as it develops.
In late December we completed a small flow-through financing to continue exploration of our high potential, high grade gold properties in Red Lake, Ontario. Our early spring plans for Dixie Lake focus on upgrading the noncompliant resource of 1.1 million tons grading 0.10 ounces per ton as estimated by Teck Resources. The goal is to confirm and bring to a 43-101 standard, a resource on the property. Our goal ultimately, is to partially fund Canadian exploration programs independently, through our small-mines model, but until such time we will continue to finance necessary and highly-prospective exploration projects in the public markets – albeit balancing maximum benefit with minimum dilution.
In summary then I assure all Grandview shareholders that we have been making progress, at times more slowly than we would like. As a geologist and as your CEO and President, I am doing my utmost to accelerate a near-term conclusion to pre-exploration work in Peru. While I can offer no guarantees, I feel we are on the right path.
For those shareholders new to the company, I wish to revisit the tenants of our business plan that balances sustainable small-scale mine development and gold production. That is, to discover and sustainably develop cash-flow-positive small mines properties in Canada and new and emerging gold districts of the Americas, to lessen the company’s dependence on the capital markets to fund our high-potential, high-grade gold properties in the established gold districts of Red Lake, Ontario and Rice Lake, Manitoba.
It is essential that we remain focused on our new business plan. To accelerate our small-mines plans, and move toward cash-flow independence to help fund exploration in Canada, and to acquire additional small mines properties at home and abroad.
I thank you for your continued patience, and give you my assurance once again that we will bring you news just as soon as it becomes available.
Yours most sincerely,
Paul Sarjeant, B.Sc., P.Geo.
President and CEO, Grandview Gold Inc.
Dear Shareholders
Over the course of the past four months, since the last Shareholder Update, my colleagues and I have been furthering the Company’s development interests in Peru and also in Canada.
Grandview’s Chairman, Dr. Michael Hitch and I traveled to Peru several times to meet and work with local and regional authorities with respect to the sustainable development of our Giulianita gold-producing property in Piura, and to explore other small-scale mining opportunities in Peru. We have a four-person team in the field in Piura, working with local authorities and community groups, strengthening relationships and common purpose, and evolving environmental and geological assessment protocols.
It remains our intention to work together with the community and informal local miners to create a sustainable and mutually beneficial development and production model, and, while we are making progress working within the guidelines and timelines established by the Ministerio de Energia y Minas (Ministry of Mines and Energy) and local authorities, we still have work to do.
As a company, we are committed for the long term in Peru. We are committed to securing the greatest possible return for our shareholders while still creating a viable development and production model that benefits all stakeholders and improves the local GDP and quality of life in the areas in which we operate. On that note, we have identified and continue to evaluate a number of other small-scale operating mines in other regions of Peru that, like Giulianita, fit within our parameters for profitable small-scale mines.
What we have learned during these past few months in particular has re-doubled our commitment to sustainable small-scale mine development. The time is right to introduce our particular model and move toward a cash-flow positive position for the company. It is our goal and obligation to find ways to work together with local and regional communities in and around Giulianita and indeed in every district in which Grandview operates in the future.
As we evolve our business plan and implement mineral processing facilities to service our properties, we will create sustainable programs that satisfy both our obligation to create shareholder appreciation, and to satisfy the needs of host communities - to protect existing jobs, create new employment, respect traditions and customs, and improve the overall quality of life. This, we believe, is the way of the future, and this is what we have been working on these past many months, and not just in Peru.
Canada too, presents sustainable small-scale mine opportunities worth exploring, and we have been doing just that. While we negotiate the processes of approvals and relationship building in Peru, Grandview geologists have been on the ground in Canada, evaluating high-potential small-scale mine opportunities here at home.
The North American small-scale mining formula is different to be sure, but outstanding opportunities exist none-the-less. Unlike most junior gold companies, we have the on-board small-scale mining and mineral processing expertise to help us evaluate these opportunities wherever they exist, and we continue to do so.
Recently, on the exploration front, we consolidated our Sanshaw-Bonanza property in Red Lake and reduced the NSR to just 0.375%, so we now hold 100% interest in this historic gold producing property whose northeast border is contiguous with the Goldcorp-Premier Gold JV, Rahill-Bonanza project. Together with 100% interest in Loisan, and 64% interest in Dixie Lake, our Red Lake portfolio stands out among juniors, and comfortably in the company of producing and past-producing neighbours. See our Red Lake Discoveries and Activity map for an expanded view of Grandview’s Red Lake neighbourhood.
In Rice Lake too, we are in very good company. Our Bissett property, located very close to San Gold’s 1.7M oz Au Rice Lake Mine (formerly Bissett Mine) is still a grassroots project, but is located in a highly-prospective neighborhood. Our Banksian-GVG Group boasts more than 20 historic gold showings between the past-producing Diana and Gunnar Mines. Grandview holds 100% interest in all three Rice Lake projects, and, as San Gold continues to release impressive results, Rice Lake proponents are watching closely.
We have been making progress, albeit quietly, since closing the $2M financing six months ago. We have a healthy treasury, and our development and explorations plans are on track. While it is true that our share price in no way reflects the value of the cumulative indicated resources of Grandview properties, for some that represents an opportunity.
With gold prices high, holding their own and no downside in the forecast, the time is right for us to stay focused on our new business plan. To accelerate our small-mines plans, and move toward cash-flow independence to help fund exploration at our Red Lake and Rice Lake gold district properties, and to acquire additional small mines properties at home and abroad.
I thank you for your continued patience as we stay the course, and give you my assurance that we will bring you meaningful news, not speculation, just as soon as it becomes available.
The resumption of news should help return the company’s share price to levels that reflect our indicated and actual assets, our business plan, and our future.
Yours most sincerely,
Paul Sarjeant, B.Sc., P.Geo.
President and CEO, Grandview Gold Inc.
It is my pleasure to be in touch with you today regarding the corporate developments of Grandview Gold Inc.
Those of you who actively follow the business of the company, our share price and our news, already know that, like many junior resource companies, we are emerging from a period of relative inactivity.
The good news is that, we not only negotiated one of the most difficult junior resource markets in Canadian history, we emerged funded, with greater boardroom and field expertise than ever before, and with an energized, diversified and highly-prospective business plan. A business plan that balances gold production from sustainable small-mines development and continued exploration.
I invite you to visit our updated website and review the Corporate Overview and Gold Properties sections for the long story (and People story), but the short story is quite simple. Grandview Gold, through the combined efforts of our management team and a truly blue chip board of directors and advisors, has revised its business plan to include a small-mines gold production component.
Such in-house diversification is rare among Canadian junior resource companies. We believe very strongly in the comparatively short–term and exponential revenue-generating potential of the gold-producing small-mines model, as an important addition to our portfolio of high-potential projects in the major gold camps of North America.
Our company and its people are indeed uniquely qualified to execute our newly diversified exploration and production plans in a way that should not only reduce our dependence on capital markets in the relative near term (+/-18 months as anticipated), but accelerate Canadian exploration plans for Red Lake and Rice Lake projects, and create a sustainable small-mines community at our newly optioned project in Peru.
We anticipate that 2010 will be a strong news year for our company, and one that is both exciting and authentic with respect to news content. While our business plan has evolved to accommodate the new economic landscape, we are advantaging an extraordinary emerging opportunity. That opportunity, we believe will put Grandview Gold Inc back on the radar of institutional and private investors, and ultimately, increase confidence and value for all shareholders.
In closing, I thank you for your patience and confidence these past many months and I invite you to renew that confidence in a more diversified Grandview Gold.
Yours most sincerely,
Paul Sarjeant, B.Sc., P.Geo
President and CEO, Grandview Gold Inc.
Dear Shareholders:
Six months have passed since my last update, and while the flow of news may have slowed to the pace of the markets, these past months have been eventful ones for your company.
My focus as most of you know, remains on the company’s long story. I believe in that long story. The short story has been very disconcerting to be sure and we’ve seen our share price along with most junior exploration groups drop dramatically. The collective thinking of the business community seems to be that, until North American political environments settle and the path to world economic recovery is laid out, the day-to-day short story and corresponding direction of the markets remain uncertain. What we do know absolutely is that history repeats itself; lows become highs, and markets recede and advance. What we don’t know is when, so we remain singularly focused on those things we know well – ‘gold’ and ‘opportunity’.
We face challenges, but history tells us that challenging times create remarkable opportunity. For those who are willing to listen and position their companies to advantage those opportunities, the focus is further – beyond today, beyond today’s news, beyond today’s share price. While we must narrow our focus inwardly, we cannot let our outward focus broaden to the will of the markets; to become reactive versus proactive. To do so would risk unwise spending and distraction, and that would be a disservice to our shareholders.
Our fundamental strategies are sound and demonstrable, but like so many juniors we were hit very hard. As tempted as we were to counter under-evaluation with promotion to set the record straight, we instinctively knew that no amount of telling or expenditure could compete with the wholesale, irrational will of the markets. So instead we focused more narrowly, on conservation, and on the discovery and creation of opportunity.
Inasmuch as this irrational market offers unprecedented opportunities for resource investors to average down or buy shares of fundamentally sound, undervalued juniors at historic low prices, so too does it afford juniors the opportunity to explore, consider and engage in acquisition or joint venture opportunities that were inconceivable not six months ago. Unfortunately some juniors won’t survive this market turmoil, and that creates opportunity for opportunity-focused companies. We believe in opportunity, we believe in the continued strength of hard assets during turbulent times, and we believe that now is the time to be looking.
The resource market tells us to stay the course. While our market cap has not kept pace with gold, gold is still outpacing the market. China and India, the two fastest growing and most populous nations in the world are projecting growth rates of 4-6% and China’s $540 billion stimulus package bodes well for the country’s middle class and their continued demand for gold.
Year-to-date, in the face of enormous turmoil and huge fluctuations in the markets, gold is the only resource that has held its value. At the time of writing, gold had closed at 809.20 USD per ounce, up 30 cents on its year ago price of $808.90 USD per ounce. All other widely-traded resource unit prices are way down on the year – including silver (-30%), platinum (-43%), palladium (-48%), copper (-51%), nickel (-64%), zinc (-52%), uranium (-42%) oil (-51%), and even natural gas (-19%).
Gold has maintained its market-leading strength in the face of some of the most trying times the contemporary market has seen. This is the long story on which we focus as we position our company to best advantage opportunities presented to us and to present ourselves as a valuable partner to producing gold companies looking for highly prospective partners in major gold camps.
Our fundamental strategies are strong. Market swings don’t change the intrinsic and potential value of our gold properties, or the fact that those properties are located in some of the richest gold districts in the world. Logic tells us that we should defend our gross undervaluation and weight our market cap relative to contemporaries in our sector, or to juniors as a whole. But as equities across the boards were hit hard by the irrationality of the market, logic and rational thinking therefore, do not figure prominently.
Our Red Lake portfolio is headlined by well-positioned properties in the company of demonstrable economic viability. Not four kilometers northwest of our Sanshaw-Bonanza property sits the Bruce Channel discovery that Goldcorp recently acquired from Gold Eagle for USD $1.5 billion. Contiguous to the east of our Sanshaw-Bonanza property sits the Goldcorp/Premier Gold Rahill-Bonanza property. We maintain our thinking that the southwest extension of the Rahill-Bonanza CP-Zones (Follansbee Zones) may extend onto our ground. We earned our 60% interest by expending CAD $500,000, plus options payments, and shares.
Due east of Sanshaw, sharing its northern border with Goldcorp, sits our highly prospective but under-explored Loisan property. Southeast of both sits our 64% earned-in Dixie Lake project, which last season revealed a third gold system and assays as high as 163 g/T Au and garnered the attention of new retail and institutional investors.
The recently completed private placement will permit us to carry out a focused exploration program at our Dixie Lake Property, with the intent to drill the promising NS Zone and other un-tested targets, and re-evaluate the resource estimate on the 88-4 and 88-4 West Zones. See the dated December 5, 2008 for further details of the Dixie Lake program. We hope to return to Sanshaw-Bonanza to test historical geophysical anomalies and structural zones under the ice and re-drill those targets not completed earlier this year
Across the Manitoba border from Red Lake, the Archean greenstone belt continues as the Rice Lake Gold District, where we have 80% ownership of +8,000 hectares near San Gold’s (SGR: TSX-V) 1.7M oz Au Rice Lake Mine. San Gold now has two operating mines and is one of the strongest emerging gold production stories. Also this season we continued earning toward a 50% interest in the GEM Property and acquired additional land in the Rice Lake belt. We have exciting grassroots projects on trend between the past-producing Gunnar and Diana Mines in an area of 20+ gold showings and we hope to continue assessment of targets developed during first pass surface mapping and sampling this summer. We will also seek new opportunities that we believe will surface under the present market conditions.
So, in the face of this turmoil and uncertainty, be assured that intrinsically we are still the company you invested in, namely an outstanding junior gold company with strong fundamentals, sound management and a stellar board of directors. We have excellent properties in major gold districts and expectations of a promising future. We have a plan in place to conserve financial resources and continue to explore as the markets and consumer confidence recover from this, what we anticipate is a significant but temporary set back.
Specifically, we remain focused on those areas of the world that are of greatest interest to institutional investors and managers, namely Red Lake and Rice Lake, and where institutional and individual investors can benefit from the tax incentives associated with flow-thru dollar investing. In light of this difficult time and the irrational market behavior that accompanies it, it is most definitely in the best interest of our shareholders to follow this Canada-focused path in the near term.
I conclude by offering my thanks for your patience and confidence in Grandview Gold. I remain firm in my commitment to uphold the company’s standards of excellence at all levels and to weigh each decision with your best interests in mind.
Yours very truly,
Paul Sarjeant, B.Sc., P.Geo
President and CEO, Grandview Gold Inc.
May 12, 2008
Dear Shareholders:
It is my pleasure to share my thoughts on the events of your company’s first quarter.
Spring has arrived on the heels of an eventful winter. As you are no doubt aware, the escalating price of gold, while very attractive and exciting, did little to influence the public market’s interest in junior mining companies. A disconcerting reality to be sure, but from my perspective, also an opportunity.
An opportunity to spend the cold winter months in research, exploring major and emerging gold districts for undervalued acquisition opportunities and developing exploration programs for our own high-potential properties.
With respect to our properties I re-state a firm commitment to the long story of Grandview Gold. The short story is a hiccup in the economy and its attendant volatility. The long story moves us along upward and onward.
When I accepted the seat of CEO and President I was reminded by our Chairman Michael Hitch that the post was much like ascending a staircase with a yo-yo – many ups and down along the way but with an idea, a process and the requisite conviction to follow through you will arrive victorious at the top none-the-less. The journey thus far has been like that exactly. We are confidently executing the plan that we have laid out even if our market cap hasn’t caught up with us. I have absolutely no doubt that it will and I encourage your confidence in your company.
During times like these I am mindful of the figure Certified Financial Analyst Nigel Heath, B.B.M., CFA, assigned to the in-ground value of the 43-101 compliant drill inferred and indicated resource on our Pony Creek property alone. That estimate of $1.67 per share values your company at more than USD $60 million. And while market conditions have certainly changed since that value was assigned in October 2007, the in-ground value of the resource has not. To review or download the full text of that independent research report please go to www.eresearch.ca/_report/GVX_101707-I.pdf
Again, I am not alone in my confidence. This spring we gained some very powerful, very informed allies at the board level. We welcomed Mr. Harold Wolkin, CFA, MAEcon and Mr. Ken Hight, to the Grandview team. These gentlemen have reputations that precede them and most certainly were not pursuing a junior gold company directorship to pad their blue chip resumes. Mr. Wolkin and Mr. Hight see something special in our company, are excited by our opportunities and are uniquely positioned to help us tell our story to the capital markets.
Jointly, they are formidable. Individually, they’ve raised and managed billions in equity financing. Together with the other immensely talented and committed members of our board of directors, your Chairman and I will open new doors and communicate our opportunities to the institutional community.
For detailed biographical information on Messrs Wolkin and Hight:
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• https://grandviewgold.com/Corporate/Management
Over these past few months, we advantaged the period of quiet to embark on a more personal approach to shareholder communications. We were aggressive in establishing or re-establishing direct dialogue and as a result now have a stronger and more effective investor relations department. If we have your contact information, you would have heard from us personally. If we don’t, we are making every effort to find you. We believe in old-fashioned, one-on-one communication with our shareholders and are very pleased by the level of commitment and support returned to us by individual shareholders in recent months. As the field season commences very shortly, you will be hearing more from us and we whole-heartedly encourage you to call investor relations at or email , at any time with any question or concern.
Over the winter, at the invitation of vendors and/or potential joint-venture partners, I traveled with our Chairman, Dr. Michael Hitch to visit gold properties and consult with stakeholders. There are numerous opportunities to consider and as always there are far more opportunities than good opportunities. We rely on the expertise of our outstanding technical team to help evaluate these opportunities and separate the wheat from the chafe.
We have considered individual projects as well as collections of projects and companies as potential merger candidates, but at this point nothing has met our criteria. We continue the search, mindful of the fact that, while ‘acquisition for acquisition’s sake’ is certainly one popular way of temporarily elevating share price, it is most definitely not in the best long-term interest of our shareholders. We seek opportunities that we believe will be accretive to the value of the company. As I have mentioned many times before, I advocate the long story of Grandview Gold, and its development is a process.
After an un-expectedly and un-seasonably warm December spent waiting for the ice to thicken at our Sanshaw-Bonanza property, we temporarily re-directed our exploration and drill crew to our Dixie Lake property also in Red Lake, and were able to extend the high-grade, narrow-vein mineralization there over just a few holes in the NS Zone.
The numbers were impressive and ranged from 6.78g/T over 0.4 m to 26.66 g/T over 0.5 m within a remarkably consistent intercept that graded 18.26 g/T over 2.20 m with considerable visible gold. Based on these numbers, assays returned last season and historic data, our geologists are working to understand the geometry of the vein(s) so that we can effectively continue exploration efforts in that area. We are also going to re-evaluate the historic resource on the 88-4 zone as defined previously on the property. It is our hope that the increase in gold prices will have a net effect on increasing the mineralized zone and that we can increase and upgrade the quality of that resource.
The Rice Lake exploration program saw limited geological study last year primarily due the success we had at our Dixie Lake project in Red Lake. We are planning a more sustained exploration program this year focusing on mapping and sampling over the entire property package. We have learned a great deal to date and with some of our findings and contributions from the Manitoba Geological Survey we are confident that we will have a successful summer. The program remains relatively grassroots in nature, but we like our prospects.
Geologists are currently on the ground at our Pony Creek property on the Carlin Trend. Soon the drill will be turning again and we will be following up on the success we had last year when we returned some excellent results within the 43-101 compliant drill inferred 1.426 million oz resource area.
*Hole PC-07-19 (2.59 g/T gold over 42.7m) and PC-07-20 (1.33 g/T gold over 47.2m) in Pony Creek South were drilled from the same drill pad as PC-07-16 (2.18 g/T gold over 36.6m) to test for a northern and southern extensions respectively to the mineralization intersected by PC-07-16 and to test new interpretation of structural controls on mineralization in and around the PC-20 zone. The PC-20 zone refers to a target area within the inferred resource area, first drilled by Newmont Mining Corp in 1981. Results from PC-07-16 and PC-07-19 and PC-07-20 appear to confirm Grandview geologists' new interpretation of a north-south structural control on mineralization in the inferred resource area. *Highlights only. For summary details on the 2007 Pony Creek program see:
We continue our efforts to better the company at all levels. With the addition of Messrs. Hight and Wolkin we now have greater strength in capital markets. We are looking to add some more technical strength to the group to supplement the talent that we already have. In order to improve the company I believe it is necessary to continually seek out new opportunities and keep the “funnel of opportunity” full. Notwithstanding our current portfolio of blue chip projects, we must always strive to improve the actual and potential value of our holdings and opportunities. Without that continual driving force, we risk complacency and that is simply not acceptable.
Finally, at this time I would like to express my deep and heartfelt thanks and appreciation to Mr. Ian Grant, B.Econ.Fr, under whose wise and sophisticated counsel Grandview negotiated the often-times rocky junior resource company road. Mr. Grant is retiring his board position to make room for Mr. Hight, but will assume an active new role as the Company’s Capital Markets Advisor. His wisdom and selfless commitment to your Company is truly commendable. See https://grandviewgold.com/Corporate/Management/
I conclude by offering my thanks for your continued commitment to Grandview Gold and in turn offer my commitment to upholding the company’s standards of excellence and to maximizing shareholder value. This is a very exciting time of year for geologists and we can’t wait to get out in the field, start the drills turning and of course, deliver more good news.
Yours very truly,
Paul Sarjeant, B.Sc., P.Geo
President and CEO, Grandview Gold Inc.
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October 19th, 2007
Dear Shareholders and Grandview News Subscribers:
As promised at the close of my Third Quarter Update to Shareholders (September, 2007), it is my pleasure to communicate once again with shareholders and Grandview news subscribers to review exploration and corporate developments and to offer you an advance look at initiating reports on Grandview Gold prepared by Chartered Financial Analysts at independent equity research firms in Canada and the United States.
If you receive Company news on a regular basis you are already aware that the 2007 Exploration Program has been extraordinary so far. Our Red Lake and Nevada programs have delivered remarkable assays and we are about to commence diamond drilling in the Rice Lake gold district. We are still on the ground in Nevada, with assays pending and our Canadian exploration team will be diamond drilling a second Red Lake property, Sanshaw-Bonanza, later in the winter field season. If you are just catching-up on company news, consider the following month-to-date exploration highlights:
Red Lake Gold District, Ontario
The Company announced significant drilling results for the Dixie Lake property. High-grade gold intervals intersected during diamond drilling confirmed discovery of the new NS Zone and the extension of four existing mineralized zones on the Property.
Considerable visible gold characterized significant assays like 163.75 g/tonne over 0.47m, and 22.90 g/tonne over 2.86m including 61.97 g/tonne over 1m in hole DC-10-17. And 4.28 g/tonne over 6.25m and 11.30 g/tonne over 1.7 m in DC-15-07.
Earlier this week we announced the completion, under terms of our option agreement with Fronteer Development Group, of 51% earn-in on the Dixie Lake project and subsequent increase to a 64% undivided interest in the project.
The 30 million ounce Red Lake Gold District is the richest gold district in Canada and home to Goldcorp's 11 million ounce Red Lake Mine, one of the richest, lowest cost production gold mines in the world. We are fortunate to have three Red Lake properties in our portfolio, two of which will have seen diamond drilling this season. Complete details can be found in the company
Carlin Trend, Nevada
Following up on 2006 and 2005 season drilling in the Pony Creek South 1.426 million ounce gold inferred resource area, Grandview geologists encountered what appears to be a parallel structure to the historic PC-20 hole drilled by Newmont in 1981. Grandview Chairman Dr. Michael Hitch and I were on site at Pony Creek just a few weeks ago and were very excited about the work being done and drilling progress to date. Hole DC-07-16 delivered a remarkable 36.6m width grading 2.18 g/tonne including 10.05 g/tonne over 1.5m, 3.29 g/tonne over 12.2m and 3.18 g/tonne over 6.1m. Assays are pending on subsequent off-set holes. Complete details can be found in the company
The Carlin Trend district is the richest gold district in the western hemisphere, second in the world only to Witwatersrand South Africa. Grandview's 28 square-mile Pony Creek/Elliot Dome Property represents the largest consolidated land position on the Carlin Trend not already owned by a major. Here again the company has blue chip, gold producing neighbours so we are confident of our position and potential in Nevada.
Rice Lake Gold District, Manitoba
Our Canadian exploration team is about to commence diamond drilling on our Angelina property located southeast of the 1.4 million ounce gold Rice Lake Gold Project (formerly San Antonio Mine). All of our Manitoba projects are grass roots in nature, but due to the geological similarities between the Rice Lake and Red Lake gold districts and the un-explored potential of the area, we anticipate positive results. Angelina results will be reported as the drilling program progresses. For details on the Rice Lake Gold District visit the Rice Lake pages of the company website.
Grandview has three Rice Lake Gold District and one Lac du Bonnet Mining District property in its Manitoba portfolio.
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Independent Equity Research Reports
Given the relatively short period of time that has passed since the September 2007 completion of the company's re-structuring, it follows that there has been no independent analyst coverage of Grandview Gold Inc. Therefore, in an effort to communicate un-biased commentary and opinion of the business and potential of the company to Grandview shareholders and potential shareholders, we invited certified/chartered financial analysts to research and analyze the company, its management, capital structure, properties and exploration programs and then report their findings -- good or bad.
We undertook the process in full confidence but also knowing that we would have no recourse or influence upon report outcomes and recommendations. In the end we were pleased to discover that our enthusiasm for our properties and our people is shared by the CFAs and that, though the risk-adjusted Canadian target price was in our view conservative, our Canadian and US properties, exploration programs and long term potential were deemed excellent.
On Wednesday, eResearch (Independent Equity Research Group) analysts Nigel Heath, BBM, CFA and Bob Weir, B.Sc, B.Comm, CFA released their initiating report on Grandview Gold Inc, dated October 17, 2007. They recommended GVX as a 'Speculative Buy' with a near-term target price of CAD$1.35 per share and a longer-term target price of CAD$3.00. The 24-page report is embargoed for two weeks from date of release and available only to paid eResearch subscribers, but Grandview subscribers can immediately access the complete report for download in PDF format or viewing online. eResearch will be following the progress of the company for a period of 12 months, issuing period updates, recommendations and adjusted target prices as warranted.
On October 10, 2007, Beacon Equity Research Senior Analyst Lisa Springer, MBA,CFA issued an 18-page initiating report on Grandview Gold. Beacon recommended GVGDF (GVX) as a 'Speculative Buy' with a near-term target price of USD $3.54. The complete report is available to you to download in PDF format or view online. Beacon will be following the progress of the company for a period of 6 months, issuing period updates, recommendations and adjusted target prices as warranted.
We are confident that as the Grandview Gold story unfolds, it will capture the unsolicited attention and imagination of blue chip precious metals and small cap investment analysts. Until that time we will continue to invite independent equity research analysts to look closely and comment.
In closing, I thank you for your continued interest in Grandview Gold and for the confidence and commitment shown to me through this exciting period of growth and increased capitalization. We still have plenty on the go this 2007 season including news from the field and from the boardroom, so you will be hearing from us again soon. As always, it will be my pleasure to keep you posted.
Sincerely,
Paul Sarjeant, B.Sc., P.Geo
President and Chief Executive Officer
Grandview Gold Inc.
September 14th, 2007
Dear Shareholders:
Some six months have passed since I issued my first Shareholder Update as President and CEO of Grandview Gold Inc. And while it feels as though those months have flown by, when I consider what has transpired since March of this year, I am struck by the scope of progress made by the Company.
The confidence I have in the talented and enthusiastic managers and geologists I work alongside everyday has developed into a new understanding of how a group of uniquely qualified and committed individuals can work as a team to grow an idea through to successful execution.
As a geologist, the implied real estate value of this company is immediately apparent to me by virtue of the location of exploration properties in established gold districts in North America. As the company's President and CEO however, its potential true net asset value reveals itself exponentially with each new development and with each passing day.
When I joined the company, I assumed management of a junior exploration company whose infancy was spent building a property portfolio of merit on which to focus future exploration, but not necessarily on building a corporate structure. I knew at the time that the extended program for Grandview management and its board of directors was to build that solid structure and along with it, shareholder confidence in more than just potential.
I am extremely pleased to report that we are where we hoped to be by the end of this quarter. The company has arrived at a place where our foundation is solid, our property positions and fundamental exploration programs are well defined, and we have a stellar (albeit slight) board of directors plus over 250 years of cumulative geological experience spanning three generations. The company is well funded and we have no debt.
Before we began the exploration season this spring we had some of the best minds in the industry fine-tuning geochemical and geophysical models to shed more focused light on identified target areas at our properties. The intensity of that focus remained for as long as the drills turned and the exploration programs continued. It continues today in Nevada and in Manitoba, and will continue through the winter in Ontario.
Already, we are seeing the benefits of such focus in areas like the 30 million ounce ($21 billion* USD) Red Lake Gold District in Ontario, where team geology and excellent science jointly enabled the discovery of previously undiscovered quartz vein systems with considerable visible gold on the company's Dixie Lake Gold Project. Recently returned assay results indicate gold grades and widths similar to Goldcorp's 11 million ounce ($8 billion*) Red Lake Mine, one of the richest, lowest cost production gold mines in the world.
I cannot say with certainty what will come next, but I do know that our Red Lake success is just the beginning for the company and for its shareholders.
Six Month Review:
Corporate
- As phase one of a plan to complete a $5 million financing to fund exploration, the company completed a $1.46 million tranch. Dilution clauses imposed by the Toronto Stock Exchange mandated shareholder approval to proceed with the balance of financing.
- The company received shareholder approval to raise an additional $3.45 million financing to fund exploration through 2007 and into 2008.
- The company undertook a week-long program of introduction to Canadian institutional investors, with the dual goal of introducing new management and to showcase our commitment to the application of advanced geology, geochemistry and geophysics.
- Mr. Alex Korbough, M.Sc., P.Geo (Russia, Israel) joined the company as Exploration Manager for Canada. Alex has been instrumental in our efforts to re-build a technical group to carry out the important work of organizing and advancing our Canadian exploration projects and has contributed greatly to the success of the Dixie Lake drilling program this season.
- The company added two extremely qualified geologists to its Canadian exploration team; Mr. Martin Tuchsherer, M.Sc., who is completing his Ph.D. at the University of Witwatersrand, South Africa (richest gold district in the world), and Mr. Peter MacDonald, B.Sc., who is in the final stages of completing his Masters degree at Laurentian University. Both geologists bring strong academic and field experience to the company and were instrumental to the success of the Dixie Lake program.
- Dr. Peter Born, P.Geo joined the Grandview board of directors. Dr. Born brings a wealth of experience and expertise to the board. Peter was thrice awarded Canada's prestigious National Science and Engineering Research Council (NSERC) Post-Graduate Scholarship (1991,92,93), and has truly impressive field experience of direct relevance to Grandview exploration projects.
- The Company has improved its corporate profile considerably. With the re-organizing of the corporate structure and review of all eight properties in three gold districts, came the opportunity to communicate this information more completely to individual and institutional shareholders, the greater investment community and to our joint venture partners. The communications process has only begun, but already the company is enjoying the positive results of a higher, more widely reaching profile, and a greater global understanding of the company and its potential.
- More than 75 new pages of project information and regional activity maps have been added to the corporate website - https://grandviewgold.com/.
- A more organized corporate structure delivers more finely-tuned financial controls which, while not immediately apparent to shareholders, result in better reporting procedures and facilitate the company's ability to govern exploration programs and flow-thru commitments, and act quickly when property acquisition or joint venture opportunities present themselves.
Exploration
- In March, the company concluded agreements with McKeena Gold to acquire 100% interest in the Angelina and Banksian properties in Manitoba's emerging Rice Lake Gold District, southeast of the 1.4 million ounce Rice Lake Gold Complex (formerly San Antonio Mine) in southeastern Manitoba. The company firmly believes the Rice Lake District has many of the same attributes as the Red Lake Gold District in Ontario. Rice Lake and Red Lake are separated only by the Ontario-Manitoba border and exploration histories. In spite of its similarities to Red Lake, Rice Lake remains virtually un-explored, having produced about 10% of the gold produced by the Red Lake District (30 million ounces), and almost all of that production happened pre WWII and the advent of modern exploration techniques. Grandview will begin diamond drilling on the Angelina property in October of 2007.
- In May, we commenced drilling on the Dixie Lake Project in the Red Lake Gold District of Ontario. The program was designed to follow-up on untested targets and determine the extent of mineralized shoots on the 88-04, Main and South Zones. Our project geologists and I were very pleased, though not entirely surprised by results that indicate those zones remain open at depth along strike length in at least one direction. Of even more importance was the discovery of some previously un-discovered quartz vein systems with visible gold. Recently received assay results indicate gold grades and widths similar to those at Goldcorp's Red Lake Mine, which again is one of the richest, lowest cost production gold mines in the world.
- We advantaged an opportunity to extend the company's option agreement on the Sanshaw-Bonanza property in the Red Lake Gold District, until August 2008. The extension affords us the opportunity to explore the property during the winter when the lake is frozen and drill from a more advantageous and much more cost-effective position right over-top of the target.
- It is important to note that, the company's Sanshaw-Bonanza project is located along the western boundary of the Goldcorp/Premier Gold Mines Rahill-Bonanza joint venture property. We are encouraged by the results reported by Premier Gold, most particularly as they relate to the continuation of the Follansbee/Bonanza (CP) Zones. A Red Lake Gold District regional activity map, showing neighbouring mines, gold deposits and exploration activity can now be found on our website at https://grandviewgold.com/Gold_Properties/Red_Lake_Gold_District/
- Company geologists spent a great amount of time compiling information, reviewing historical reports and working with consulting geologists in an effort to better understand and prepare the 2007 Nevada drilling program for our +28 square-mile Pony Creek project. The addition of new geologists, new information and advanced science benefited the program considerably and we are confident that our efforts will be rewarded by excellent results this year. I am supremely confident that our geological staff and consultants have a firm grasp on Pony Creek geology and we will be able to take full advantage of our considerable land position in the richest gold district in the western hemisphere.
- We have completed ‘first pass prospecting' for much of our Manitoba interests and are currently analyzing the data, compiling information and building preliminary targets. Concurrently we are preparing to mobilize the diamond drill and the Canadian exploration team to our Angelina property in the emerging Rice Lake Gold District, to test targets this October. While our Manitoba projects are more-or-less all grass roots in nature, we are very confident that Rice Lake's similarities to Red Lake are of fundamental importance.
All in all it has been an extraordinarily busy year for Grandview Gold, and at that we are just getting started. This is a very busy and exciting time with drills turning, results coming in and the beginnings of a flood of ideas about what to do next.
Now that we have re-built our corporate structure and put the people and mechanisms in place to help us realize the top-shelf junior exploration company status we aspire to, we will endeavour to keep you, our valued shareholders even more informed every step of the way.
I know that I speak for all Grandview management and our board of directors when I communicate my anticipation of and confidence in the results of winter drilling at Sanshaw-Bonanza and also the late summer results from Pony Creek. The best, I believe, is yet to come.
In closing, I thank my colleagues at Grandview for affording me the opportunity to help shape the company's future. Most particularly I thank you, our shareholder for the confidence and commitment you have shown to a truly great company, and for the patience you have shown through some difficult times and what can only be described as a disinterested precious metals market.
I trust that your patience and confidence will be rewarded as we enter an exciting new era for the company. And how timely that we do so at the beginning of what appears to be a very ‘interested' gold market. It will be my pleasure to keep you posted as our exploration season unfolds.
Sincerely,
Paul Sarjeant, B.Sc., P.Geo,
President and Chief Executive Officer
Grandview Gold Inc
*calculated using today's gold price of $708 USD
March 15th, 2007
Dear Shareholders:
Assuming the office of President and Chief Executive Officer of Grandview Gold in November of 2006 was testament to my belief that the core assets of the company were those that a successful business could be built around. The talented and enthusiastic individuals that I have had the good fortune to work with also affirm my faith that we can build and operate a great company. After 90 days, I can say without reservation that I made the right decision.
In joining Grandview, I joined a junior exploration company whose value was inherently apparent to me as a geologist. As is the case with many juniors, Grandview spent its infancy restructuring and searching for projects of merit on which to focus future exploration.
Those decisions were the right ones for the times as they paved the way for money to go into the ground. As of November, we've had some of the best minds in the industry working hard to put the finishing touches on the geochemical and geophysical modeling and science that will shed more focused light on the outstanding historic and current assay results we have catalogued for all of our properties. When we hit the ground running this upcoming drill season, we will have more clearly defined targets and can apply this advanced science to minimize exploration time and expense, and maximize shareholder value.
During the first week of February, I visited Vancouver, British Columbia where I spent productive and inspiring time at the mining industry Cordillian Round Up with our joint venture partners, senior mining company executives, drill contractors, and some of the most forward-thinking geologists in the business. The excitement and enthusiasm for Grandview projects demonstrated by the people I respect most validated my commitment to continue along the path I assumed late last year - that is to stay focused on our prime objective, but keep my door open to opportunity and to shareholders.
Mid February I met with individuals in Florida's retail investment community. Once again I was energized by their enthusiasm, and more important, I was grateful to be well equipped to answer any question with respect to company assets, acquisitions, and programs moving forward.
Since assuming this office I've had the pleasure of announcing some significant, if under-stated news - our intuitive new investor website and shareholder communications program, the Rice Lake Research Report, the Rocky Ridge Option Agreement, the preliminary results from summer 2006 drilling on our Pony Creek Project on the Carlin Trend, and a $1.5 million flow-thru financing that ended the year on a high note. Just a few days ago we announced yet another Red Lake asset - the option to earn a 60 percent interest in the 10 claim Sanshaw-Bonanza gold project in the Red Lake Mining District of southwest Ontario. That property, by virtue of its strategic position alongside and in proximity to blue chip neighbors like Goldcorp's Red Lake Mine, the richest gold mine in the world, could prove to be of particular benefit to shareholders.
It is my hope that someday, the Grandview name will be synonymous with some of the richest gold properties in the world. If I didn't believe in that possibility I wouldn't be here today.
Currently, Canadian institutions own a relatively large pool of Grandview shares. I view this as a vote of confidence and hope to reward their loyalty with an impressive 2007 season. But the heart of the company is held in the hands of individual shareholders like you who see value in owning our stock and believe, as we do, in location, location, location.
Presently I am focused on defining and refining our summer 2007 drill programs in Nevada and Canada. Every square foot of exploration, every linear foot of drilling we execute reveals more information, further develops our exploration targets, and brings us that much closer to our end goal of transacting with a major mining company.
I believe that Grandview Gold, with its blue chip real estate and blue chip people, is immensely undervalued, and is without question, best positioned among juniors. In weighing the credibility of my opinion on relative value, consider the true net asset value of nothing more than our 1.43 million oz/Au resource at Pony Creek - and, as impressive as that resource is, the truth of the matter is that it is just part of the story. We have several excellent properties and those properties are just beginning to reveal their integrity. As a fellow shareholder, I reflect on our assets:
Pony Creek/Elliott Dome Project: 28 square miles of prime Carlin Trend real estate.
-The Carlin Trend has more +1. +5, +10 million oz gold discoveries than in all of China, Russia and the Russian continent.
-Carlin Trend historical production = 75 million oz gold with un-mined gold reserves of 200 million oz gold.
-The Carlin Trend is the most prolific gold district in North America; second richest in the world, next to Witwatersrand in South Africa.
-GVX's Pony Creek Elliot Dome project represents the largest Carlin Trend land position not held by a major.
-GVX has an inferred (NI 43-101 compliant) resource of 1.43 million oz gold and is working to increase and potentially upgrade that resource using more current drilling techniques.
-GVX property lies just south of Newmont's 2-3 million oz Rain Deposit.
-The Mississippian Webb Formation, known to host most ore grade gold mineralization in the Southern Pinyon Range, has been identified on the Pony Creek property.
-While the company has drilled only one of its typical Carlin Type targets, three high-grade deep targets have been identified on the property.
-GVX is very near completing its 60% earn-in on the property, at which time Mill City Gold Inc will have the option to begin contributing 40% of the cost of continued exploration and drilling. We expect to complete our earn-in by prior to the 2007 drill season.
Red Lake Gold District, Ontario
-The Red Lake Mining District is to Canada, what the Carlin Trend is to the United States, and what Witwatersrand is to South Africa - the most prolific gold producing region in the entire country.
-GVX holds 100% interest in eight claims covering 60 hectares in close proximity to Goldcorp's Red Lake Mine, the highest grade, lowest cost production mine in the world.
- GVX has an option to earn 60% interest in the 10 claim Sanshaw-Bonanza property, located just five kilometers southwest of Goldcorp's Red Lake Mine which produces over 600,000 oz/au annually; over 11 million oz to date.
-GVX holds an option to earn 51% interest in Fronteer Development Group's Dixie Lake Project, located just 16 miles south of Goldcorp's Red Lake Mine. Dixie Lake is a mid-stage exploration property with an established gold resource.
Rice Lake, Manitoba
-The Rice Lake Greenstone Belt, just across the Manitoba-Ontario border from the Red Lake Mining District, while vastly under-explored, has the potential to be the next Red Lake as it shares many of the same geological features. We believe this earlier stage play could lead to a significant discovery for the company.
-GVX holds 100% interest in 11 claims covering 234 hectares in close proximity to the Bissett Gold Mine (a.k.a. San Antonio Mine). The Bissett Gold Camp, located on the Rice Lake greenstone belt, is one of the top-producing gold areas in North America. The Bissett Mine has produced over 1.5 million ounces of gold.
-Three of the 11 claims have mine shafts and known gold mineralization.
-GVX has an option to earn 70% interest in the 1120 hectare Rocky Ridge gold property in the historic Lac Du Bonnet Mining District.
-The Rocky Ridge property has delivered pre-NI43-101 grab sample gold values of up to 140.6 g/t gold and the property shows strong but heretofore unrecognized potential for both high-grade narrow vein and low-grade larger tonnage gold mineralization.
The assets abridged above belong to a great Canadian gold exploration company, one with whom I am privileged to be associated.
In closing I wish to repeat my sentiments on teamwork. It takes a dedicated team of passionate and committed individuals, including shareholders, to pilot big ideas through to fruition. It also takes patience and foresight.
I thank my colleagues at Grandview for affording me the opportunity to be part of the company's exciting future. In particular I thank you, for your confidence and commitment to a truly great company. It will be my pleasure to keep you informed of future milestones and opportunities.
Sincerely,
Paul Sarjeant, B.Sc., P.Geo, CFP
President and Chief Executive Officer
Grandview Gold Inc.
View in PDF
Dear Shareholders:
Assuming the office of President and Chief Executive Officer of Grandview Gold in November of 2006 was testament to my belief that the core assets of the company were those that a successful business could be built around. The talented and enthusiastic individuals that I have had the good fortune to work with also affirm my faith that we can build and operate a great company. After 90 days in the trenches, in the field and on the road, I can say without reservation that I made the right decision.
As many of you already know, I left a lucrative strategic investment practice to join a junior exploration company whose value was inherently apparent to me as a seasoned geologist. As is the case with many juniors, Grandview spent its infancy restructuring and searching for projects of merit on which to focus future exploration.
Those decisions were the right ones for the times as they paved the way for money to go into the ground. As of November, we've had some of the best minds in the industry working hard to put the finishing touches on the geochemical and geophysical modeling and science that will shed more focused light on the outstanding historic and current assay results we have catalogued for all of our properties. The short story is that when we hit the ground running this upcoming drill season, we will have more clearly defined targets and can apply this advanced science to minimize exploration time and expense, and maximize shareholder value.
During the first week of February, I visited Vancouver, British Columbia where I spent productive and inspiring time at the mining industry Cordillian Round Up with our joint venture partners, senior mining company executives, drill contractors, and some of the most forward-thinking geologists in the business. The excitement and enthusiasm for Grandview projects demonstrated by the people I respect most validated my commitment to continue along the path I assumed late last year - that is to stay focused on our prime objective, but keep my door open to opportunity and to shareholders.
Just last week I met with individuals in Florida's retail investment community. Once again I was energized by their enthusiasm, and more important, I was grateful to be well equipped to answer any question with respect to company assets, acquisitions, and programs moving forward.
Since assuming this office I've had the pleasure of announcing some significant, if under-stated news - our intuitive new investor website and shareholder communications program, the Rice Lake Research Report, the Rocky Ridge Option Agreement, the preliminary results from summer 2006 drilling on our Pony Creek Project on the Carlin Trend, and a $1.5 million flow-thru financing that ended the year on a high note. Just a few days ago we announced yet another Red Lake asset - the option to earn a 60 percent interest in the 10 claim Sanshaw-Bonanza gold project in the Red Lake Mining District of southwest Ontario. That property, by virtue of its strategic position alongside and in proximity to blue chip neighbors like Goldcorp's Red Lake Mine, the richest gold mine in the world, could prove to be of particular benefit to shareholders.
It is my hope that someday, the Grandview name will be synonymous with some of the richest gold properties in the world. If I didn't believe in that possibility I wouldn't be here today.
Currently, Canadian institutions own a relatively large pool of Grandview shares. I view this as a vote of confidence and hope to reward their loyalty with an impressive 2007 season. But the heart of the company is held in the hands of individual shareholders like you who see value in owning our stock and believe, as we do, in location, location, location. Someone once said that the creator isn't making any more of it, so grab the good real estate when you can. Nowhere does that adage ring truer than in gold exploration.
Presently I am focused on defining and refining our summer 2007 drill programs in Nevada and Canada. Every square foot of exploration, every linear foot of drilling we execute reveals more information, further develops our exploration targets, and brings us that much closer to our end goal of transacting with a major mining company.
I believe that Grandview Gold, with its blue chip real estate and blue chip people, is immensely undervalued, and is without question, best positioned among juniors. In weighing the credibility of my opinion on relative value, consider the true net asset value of nothing more than our 1.43 million oz/Au resource at Pony Creek - and, as impressive as that resource is, the truth of the matter is that it is just part of the story. We have several top-drawer properties and those properties are just beginning to reveal their integrity. As a fellow shareholder, I reflect on our assets:
Pony Creek/Elliott Dome Project: 28 square miles of prime Carlin Trend real estate.
- The Carlin Trend has more +1. +5, +10 million oz gold discoveries than in all of China, Russia and the Russian continent.
- Carlin Trend historical production = 75 million oz gold with un-mined gold reserves of 200 million oz gold.
- The Carlin Trend is the most prolific gold district in North America; second richest in the world, next to Witwatersrand in South Africa.
- GVX's Pony Creek Elliot Dome project represents the largest Carlin Trend land position not held by a major.
- GVX has an inferred (NI 43-101 compliant) resource of 1.43 million oz gold and is working to increase and potentially upgrade that resource using more current drilling techniques.
- GVX property lies just south of Newmont's 2-3 million oz Rain Deposit.
- The Mississippian Webb Formation, known to host most ore grade gold mineralization in the Southern Pinyon Range, has been identified on the Pony Creek property.
- While the company has drilled only one of its typical Carlin Type targets, three high-grade deep targets have been identified on the property.
- GVX is very near completing its 60% earn-in on the property, at which time Mill City Gold Inc will have the option to begin contributing 40% of the cost of continued exploration and drilling. We expect to complete our earn-in by prior to the 2007 drill season.
Red Lake Gold District, Ontario
- The Red Lake Mining District is to Canada, what the Carlin Trend is to the United States, and what Witwatersrand is to South Africa - the most prolific gold producing region in the entire country.
- GVX holds 100% interest in eight claims covering 60 hectares in close proximity to Goldcorp's Red Lake Mine, the highest grade, lowest cost production mine in the world.
- GVX has an option to earn 60% interest in the 10 claim Sanshaw-Bonanza property, located just five kilometers southwest of Goldcorp's Red Lake Mine which produces over 600,000 oz/au annually; over 11 million oz to date.
- GVX holds an option to earn 51% interest in Fronteer Development Group's Dixie Lake Project, located just 16 miles south of Goldcorp's Red Lake Mine. Dixie Lake is a mid-stage exploration property with an established gold resource.
Rice Lake, Manitoba
- The Rice Lake Greenstone Belt, just across the Manitoba-Ontario border from the Red Lake Mining District, while vastly under-explored, has the potential to be the next Red Lake as it shares many of the same geological features. We believe this earlier stage play could lead to a significant discovery for the company.
- GVX holds 100% interest in 11 claims covering 234 hectares in close proximity to the Bissett Gold Mine (a.k.a. San Antonio Mine). The Bissett Gold Camp, located on the Rice Lake greenstone belt, is one of the top-producing gold areas in North America. The Bissett Mine has produced over 1.5 million ounces of gold.
- Three of the 11 claims have mine shafts and known gold mineralization.
- GVX has an option to earn 70% interest in the 1120 hectare Rocky Ridge gold property in the historic Lac du Bonnet Mining District.
- The Rocky Ridge property in the Lac De Bonnett region has delivered pre- NI43-101 grab sample gold values of up to 140.6 g/t gold and the property shows strong but heretofore unrecognized potential for both high-grade narrow vein and low-grade larger tonnage gold mineralization.
The assets abridged above belong to a great Canadian gold exploration company, one with whom I am privileged to be associated.
In closing I wish to repeat my sentiments on teamwork. It takes a dedicated team of passionate and committed individuals, including shareholders, to pilot big ideas through to fruition. It also takes patience and foresight.
I thank my colleagues at Grandview for affording me the opportunity to be part of the company's exciting future. In particular I thank you, for your confidence and commitment to a truly great company. It will be my pleasure to keep you informed of future milestones and opportunities.
Should you wish to speak with me directly at any time, I can be reached in my Toronto office at, ext 113, or by email at
Yours most sincerely,
Paul Sarjeant, B.Sc., P.Geo, CFP
President and Chief Executive Officer
Grandview Gold Inc.
P.S. If you have not yet signed-up to receive company news and irStream updates via email, please take a moment to visit the home page of the Grandview website at grandviewgold.com, and become a subscriber.
_______________________________________________________________________________________________
Grandview Gold Inc is a gold exploration company focused on creating value for shareholders by applying advanced geology, geochemical and geophysical science to reduce exploration and development costs at numerous high-grade gold properties in major gold camps of North America. Details of Grandview Gold’s projects are available on the Company’s website at grandviewgold.com.
For further information, please contact Paul Sarjeant at #113 or visit grandviewgold.com
This document may contain forward-looking statements, relating to the Company’s operations or to the environment in which it operates, which are based on Grandview Gold Inc.’s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or beyond Grandview Gold Inc.’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place undue reliance on such forward-looking statements. Grandview Gold Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events of otherwise.