Grandview Gold Inc.
OTC Bulletin Board : GVGDF

Grandview Gold Inc.

March 14, 2007 08:30 ET

Grandview Acquires 100% Interest in Angelina and Banksian Gold Properties: Further Consolidating Rice Lake Gold Belt Property Portfolio

TORONTO, ONTARIO--(CCNMatthews - March 14, 2007) - Grandview Gold Inc. ("Grandview" or the "Company") (TSX:GVX)(OTCBB:GVGDF) is very pleased to announce the purchase, from McKeena Gold Inc. ("McKeena"), 100% interest in the Angelina and the Banksian gold properties in the Rice Lake Gold Belt in mining-friendly Manitoba. The Angelina property was purchased for 100,000 common share warrants at an exercise price of $0.70, expiring February 28, 2008 and Banksian was purchased for 250,000 common share warrants at an exercise price of $0.70, expiring February 28, 2008. The transactions contemplated herein continue to remain subject to receipt of all required regulatory approvals, including approval of the Toronto Stock Exchange.

The Angelina gold property comprises 351 acres underlain by archean mafic volcanics, metasedimentary rocks intruded by the Ross River pluton. The project area is located 24 km southeast of the town of Bissett, Manitoba approximately 100 km west of Red Lake, Ontario.

The Banksian gold property consists of 14 claims totaling 2,824 hectares and is underlain by similar geological units as at the Angelina property. The project area lies approximately 45 km southeast of Rice Lake right on the Ontario - Manitoba border.

Grandview continues to acquire and explore high-potential gold properties in proven high-grade gold camps and emerging gold camps in low political risk environments in Canada and the United States. "The Angelina and Banksian purchases represent another step in the Company's plan to consolidate properties in the Rice Lake Gold Belt," says Grandview president Paul Sarjeant B.Sc., P.Geo,. "The Rice Lake Gold Belt, while separated from the +11 million ounce Red Lake Gold Camp by provincial boundary, displays similar greenstone belt geology and shares regional fault and shear zones."

Several shear zones were first discovered in 1927 on what is known as the Angelina property and there has been sporadic exploration over the years. Recent shear zone mapping and compilation data produced by P. Fulton-Regula for Gossan Resources Ltd. in 2003 indicated gold results from chip samples over multiple shear zones including 0.53 oz/t (18.0 g/tonne) over 3.7 m, 0.26 oz/t (8.84 g/tonne) over 7.92 m, 0.27 oz/t (9.18 g/tonne over 2 m). Individual grab samples of vein quartz ranged from 31g/tonne to 205.7 g/tonne gold. Gold mineralization was found along NNW trending shear zones within a structurally complex assemblage of basalts, metasediment, gabbro and tuffs.

In 2004, Gossan Resources drilled 10 shallow diamond drill holes with results including; Ang-04-01 3.4 g/tonne gold over 1 m and Ang-04-05 which returned 1.9 g/tonne gold over 4.2 m. Drilling has focused primarily on the eastern extent of the property. Shear zones and other structures to the west have been largely unexplored.

The Banksian property remains largely unexplored and represents an early stage exploration target. "We will utilize all resources to help guide our exploration efforts in this region. Including airborne data flown by Grandview in 2006." says Mr. Sarjeant.

In a research report entitled "Could Rice Lake be the Next Red Lake Gold Mining District?" commissioned jointly by Grandview and several other junior mining companies with gold properties in the Red Lake Mining Belt, Goldmau analyst John Lee, CFA points out that "geology knows no boundaries," siting the Peru/Chile, Peru/Ecuador and Ontario/Manitoba examples, and further that, "often political boundaries are arbitrarily drawn on the landscape and cut right through prospective geological belts."

Grandview management and geologists believe that, because of similarities to Red Lake, strategic Rice Lake Gold Belt properties hold a high degree of potential for increasing shareholder value. Despite geological similarities to the Red Lake Mining District, the Rice Lake Gold Belt has produced approximately 10 percent of the gold that Red Lake has. Most of that gold was recovered pre-1950, well before the advent of modern mining techniques and the type of advanced geology, geochemical and geophysical science Grandview currently applies to reduce exploration risk and expense.

Current mining activity indicates that four to five times more junior mining companies are active in the Red Lake Mining District than are exploring the Rice Lake Mining Belt. Those numbers support Grandview's long view of consolidating premium Rice Lake properties before property values begin to reflect the districts high-grade gold potential.

The San Antonio Mine, which produced over 80% of the gold from the Rice Lake Gold Belt to date, recovered over 1.36 million ounces of gold between 1932 and 1968, and is located approximately 30 km west northwest of Grandview's Rice Lake Gold Belt properties.

Mr. Sarjeant believes that Manitoba's mining-friendly position is an asset and points out that the province leads the world in mining policies, accessible geoscience databases and stable land tenure systems. In a 2005 survey conducted by the Fraser Institute, and highly-regarded independent public policy organization, Manitoba ranked first in Canada and third in the world for its mineral policies. "Manitoba's arms-wide-open attitude to the mining industry adds value to companies like Grandview whose shareholders have invested in high-potential properties in the province. "

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 While the Manitoba and Ontario gold property pages of the Company website are being updated, an overview of the Company's Rice Lake Gold Belt properties and neighboring Red Lake Gold District properties is contained in the recent Shareholder Update and can be found reviewed at

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.

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