VANCOUVER, British Columbia, May 22, 2008 (PRIME NEWSWIRE) -- Grenville Gold Corporation ("Grenville" or "the Company"), (TSX-V:GVG), (Pink Sheets:GVLGF), (Frankfurt:F9I), (WKN:A0KELU) announces that it has established a working partnership with Intercapital Canada Inc. in order to prepare for a market awareness program in Latin America to coincide with its application to list on the Bolsa de Valores de Lima SA ("BVL").
The BVL was one of the most profitable exchanges in the world in 2006, with average profits of 166 per cent. Mining shares, which make up 61 per cent of the exchange listings, led with average profits of 266 per cent, followed by agriculture of 239 per cent, and basic industry and services, which showed profits of 177 per cent. ("El Comercio," Dec. 28, 2006).
Intercapital Canada Inc. is a Canadian subsidiary of Intercapital SAB SA, a private Peruvian brokerage house and investment bank. Intercapital's Canadian office is headed by Managing Partner, Luis Zapata. Mr. Zapata has years of experience in the Canadian capital markets, having previously held positions at both a major Canadian brokerage house and a boutique private equity firm. Envisioned as a nexus between Canadian juniors and the Latin American capital markets, Intercapital Canada provides their clients with an all-inclusive range of financial advisory services.
Grenville's Silveria Project is currently under a joint venture with Journey Resources Corp., subject to regulatory approval. Grenville intends to develop its Silveria polymetalic project, which is located in the Huarochiri Province of Peru approximately 90 km northeast of the city of Lima and covers 3,959 hectares of mineral concessions. The Silveria project area includes four historic mines (the Pacacocha, Millotingo, Germania and Silveria mines). The project is 2-4 kms from the Corichanca Mine owned by GoldHawk Resources. The more significant mines during its period of operations were the Millotingo mine which produced lead, zinc, gold, copper and primarily silver and the Pacacocha mine which was predominantly lead, zinc, silver and copper. Registries for Millotingo and Pacococha mines show that the production of the mines began in 1962 and 1964, respectively, and that both mines were closed in 1992, due to a combination of weak metal prices and political upheaval.
Grenville's Espanola Copper Property is located 100 km south of Lima. On May 16, 2007, Grenville reported that a total of 45 grab samples of rock were collected from various underground workings. The average of the samples was 0.19 ppm Gold and 2.51% Copper. Mineralization on surface is hosted by steeply dipping malachite-stained quartz veins averaging between 0.5 to 3 meters wide. In the underground workings sulphide mineralogy consists of bornite and chalcopyrite. Results are consistent with the former producing Raul/Condestable Mines, located 15 kilometers west of Espanola.
In addition, Grenville announces that it has granted 200,000 stock options to a consultant of the Company, exercisable at a price of $0.20 for up to five years from the date of grant. These options are subject to a four-month hold period to commence on the date of grant.
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,
'A. Paul Gill' A. Paul Gill, President & CEO
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.