Grandview Gold Inc.
CNQ : CVGI

Grandview Gold Inc.

October 19, 2005 13:30 ET

Grandview Gold Closes $500,000 Financing

TORONTO, ONTARIO--(CCNMatthews - Oct. 19, 2005) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES

Grandview Gold Inc. (CNQ:GVGI) ("Grandview Gold" or the "Company") announced today the closing of a private placement of 400,000 flow-through shares at a price of $1.25 per flow-through share, for aggregate proceeds of $500,000. The securities issued under the private placement are subject to a four-month resale restriction and the entire placement is subject to CNQ approval. Today's closing is the third and final closing of a previously announced private placement for gross proceeds to the Company of $3,861,780.

Haywood Securities Inc. lead the syndicate of agents (collectively the "Agents"), which included Coniston Investment Corp. For their services in connection with the private placement, the Company paid to the Agents a cash commission equal to 8% of the gross proceeds and issued the Agents compensation options entitling the Agents to purchase that number of Units, (as defined in the press release dated September 15, 2005) equal to 10% of the number of Securities sold.

Proceeds from this third and final closing will be used to help finance ongoing exploration of the Company's Canadian exploration properties.

These securities have not been registered under the United States Securities Act of 1933 (the "US Securities Act"), as amended, or the securities laws of any state and may not be offered or sold in the United States or to US persons (as defined in Regulation S of the US Securities Act) unless an exemption from registration is available.

Grandview Gold Inc. is a gold exploration company, listed on the CNQ Exchange under the symbol "GVGI". Grandview Gold focuses on creating value for shareholders by exploring and developing high-grade gold properties in the major gold camps of North America. Details of Grandview Gold's projects are available on the Company's website at www.grandviewgold.com.

This news release contains forward-looking statements regarding the timing and content of upcoming programs and may be subject to regulatory approval. Actual results may differ materially from those currently anticipated in such statements.

Contact Information