VANCOUVER, British Columbia, July 19, 2007 (PRIME NEWSWIRE) -- Grenville Gold Corporation ("Grenville" or "the Company") (TSX-V:GVG) (Other OTC:GVLGF) (Frankfurt:F9I) (WKN:A0KELU) is pleased to announce that its subsidiary Inversiones Mineras Alexander S.A.C. has purchased 31 new mineral concessions totaling 620 Ha from various mineral title owners, to bring the total mineral concessions under the Silveria Project to 2,797 Ha. Grenville is now in a position to maximize the full potential of the former producing Pacococha, Millotingo, Silveria and Germaina mines. Currently, the nearest permitted mine in the area, the Corichanca Mine, is owned and operated by Goldhawk Resources located 4 km away from the Silveria Project. Grenville is working towards an ultimate goal of re-opening at least two of the former mines encompassed by the Silveria Project.
"With this land and mineral title acquisition, Grenville is moving quickly to achieve its overall corporate strategy of controlling both the mountain ridges and valley where the four former mines are located," stated A. Paul Gill, President & CEO. "This is a sound strategy as other mountain and valley mineral occurrences such as Toromocho, owned by Peru Copper and Morococho, owned by Pan American Silver, respectively, are very close in proximity to each other and are tremendously valuable deposits on stand alone basis. We are taking no chances and don't want to miss any opportunities as historical records indicate mineralized veins occur over a wide area in the region."
Grenville's subsidiary IMA now owns 100% of 3393 Ha of land and 2797 Ha of mineral titles. Grenville has no further share issuances to purchase properties planned, no option payments to vendors are required, no net smelter returns (NSRs) exist on any claim, no claw back provisions are in place and the acquisition of this property has been approved the TSX Venture when Grenville purchased IMA. Grenville will continue to acquire and stake land in the area but now development of the Silveria Property is the primary focus of the company going forward.
Download the latest corporate powerpoint at:
http://www.grenvillegoldcorp.com/Corporate/CorporatePresentations/tabid/74/Default.aspx
View land acquisition and historical vein data at:
http://www.grenvillegoldcorp.com/Properties/Silveria/tabid/63/Default.aspx
Grenville will announce further developments and provide report, studies and maps of the project as information becomes available.
About Grenville Gold Corporation
Grenville Gold (www.grenvillegoldcorp.com) is a junior resource company seeking prospective properties in Peru and Ecuador. The company has three subsidiaries: 90% owned Inversiones Mineras Alexander S.A.C. in Peru which owns the Silveria Property, Espanola Property and the Chorobal Property, Minera MineGreville S.A. in Ecuador which owns 100% of the approximately 56,250 Ha Rio de Oro Project and has an option to acquire the La Tigrera Project, and Parkman Diamond Corp. in Ontario, Canada which owns the Parkman Diamond Prospect. Grenville Gold plans to leverage the experience of its Board and Management in exploration and mining to develop its growth strategy in North and South America.
The Grenville Gold Corp. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3048
On behalf of the Board of Directors,
"A. Paul Gill" President & CEO Ph. 604-669-8842 info@grenvillegold.com
We Seek Safe Harbour
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission, the Ontario Securities Commission, and the Alberta Securities Commission.