SOURCE: Grenville Gold Corporation

October 25, 2007 17:28 ET

Grenville Updates Known Information on Dispute

VANCOUVER, BC--(Marketwire - October 25, 2007) - Grenville Gold Corporation (TSX-V: GVG) (PINKSHEETS: GVLGF) (FRANKFURT: F9I) (WKN: A0KELU) ("Grenville" or "the Company") is currently collecting information related to a public release by High Ridge (TSX-V: HRR) dated October 15, 2007 which indicated that Grenville and two of its Officers and Directors, Paul Gill and Len De Melt, and other employees were facing 'criminal proceedings' in Peru. Grenville has requested and received photocopies on files from government offices in Peru related to the matter and will be reviewing them this week.

Grenville's initial review indicates that a 'Citacion Policial' was initiated by High Ridge and the document indicates an investigation is underway regarding a dispute and requests our appearance. As Grenville had not received the 'Citacion Policial' until this week, it was impossible for the Company to comply with the request.

One of the confusing aspects of this situation which may not be apparent to the all parties and the investing public, is that there are two gates in this area, one controlled by the Community of Viso and another, closer to Lake Pacococha, which is controlled as of July 17, 2007 by Grenville's subsidiary. It is unclear which gate High Ridge is referring to in their complaint to the Peruvian authorities. Grenville will request High Ridge to contact the Community of Viso for clarification on this issue.

Grenville management assures investors that it will not shirk its duty to investors to protect their interests. Management will continue to investigate and report accordingly.

About Grenville Gold Corporation

Grenville Gold is a junior resource company seeking prospective properties in Peru and Ecuador. The Company has three operating 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 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.

On behalf of the Board of Directors,

"A. Paul Gill"
President & CEO
Ph. 604-669-8842

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.

Contact Information

  • Contact:
    A. Paul Gill
    President & CEO
    Ph. 604-669-8842
    Email Contact