VANCOUVER, British Columbia, June 2, 2008 (PRIME NEWSWIRE) -- Grenville Gold Corporation ("Grenville" or "the Company"), (TSX-V:GVG) (Other OTC:GVLGF) (Frankfurt:F9I) (WKN:A0KELU) announces that it has entered into a share purchase agreement with John O'Donnell and Blue Stack Capital Corp. to sell its share position in Parkman Diamond Corporation.
Under the agreement, Grenville will sell 5,442,922 common shares of Parkman Diamond's 8,164,842 outstanding shares to the purchasers in consideration for the release and settlement of a $39,616.46 debt owed to Mr. O'Donnell by the Company.
"Grenville has been concentrating on developing its business in South America and we will continue to focus on acquiring and consolidating formerly operating mines in Peru and finding joint venture partners to develop these projects," stated Mr. A. Paul Gill, CEO. "Our strategy continues to be a combination of exploration and development risk mitigation and limited share dilution while maximizing blue sky potential."
Grenville intends to continue its focus on the Silveria Silver-Copper-Zinc-Gold Project, the Espanola Copper-Gold Project and adding additional prospective properties.
About Grenville Gold Corporation
Grenville Gold (www.grenvillegoldcorp.com) is a junior resource company seeking prospective properties in Peru. 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. Contact info@grenvillegold.com or phone 604-669-8842.
On behalf of the Board of Directors, "Mel Rokosh" Mel Rokosh, Director
We Seek Safe Harbour
The TSX-Venture Exchange 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.