Grandview Gold Inc.
OTC Bulletin Board : GVGDF

Grandview Gold Inc.

September 11, 2008 08:00 ET

Grandview Gold Fulfills Sanshaw-Bonanza Earn-In Requirements; Consolidation of Red Lake Gold District Directs Company Focus North

TORONTO, ONTARIO--(Marketwire - Sept. 11, 2008) - Grandview Gold Inc. (TSX:GVX)(OTCBB:GVGDF) ("Grandview" or the "Company") is pleased to announce that it has incurred the expenditures required to successfully fulfill the terms of its option agreement with EMCO Corporation SA ("EMCO") to earn a 60% undivided interest in the Sanshaw-Bonanza property (the "Property") in Ontario's prolific Red Lake Gold District. As a result of this earn in and Grandview's other holdings in the area, Grandview intends to focus exploration funds and geological expertise in the Red Lake Gold District this winter.

Grandview President Paul Sarjeant submitted details of the earn-in to EMCO which, under an extension agreement dated July 31, 2007, required the Company to incur $500,000 (CAD) in resource exploration and development expenditures on or before August 31, 2008, to EMCO. The Company had also previously issued to EMCO an aggregate of 215,000 shares and 200,000 purchase warrants all as required under the terms of the option agreement with EMCO.

Sanshaw-Bonanza is located approximately five kilometers southwest of Goldcorp's 11 million ounce Red Lake Mine, on the western strike extension of the Goldcorp/Premier Rahill-Bonanza property, and four kilometers southeast of Gold Eagle Mines' Bruce Channel discovery that is currently the subject of a $1.5 billion takeover offer from Goldcorp. Grandview's Sanshaw-Bonanza exploration program will focus on diamond drilling the southwest extension of the Goldcorp/Premier CP-Zones (Follansbee Zones) whose surface boundaries are contiguous with the Property.

"The recent consolidation of the Red Lake Gold District by companies like Goldcorp, Agnico-Eagle and Gold Eagle, in addition to Premier Gold's recently announced impressive resource and grade numbers have validated the focus we as a company have placed on our Red Lake gold properties and the development of our geological team these past 18 months," says Paul Sarjeant.

"The gold assays from diamond drilling and surface work done on our Red Lake properties, plus their locations on the Red Lake Mine trend and proximity to producing and consolidating mine properties, makes Red Lake a priority for the Company and we believe this to be in the best interest of our shareholders."

Grandview geologists have been refining a Canadian exploration plan for winter 2008 and summer 2009 for the strategically located Sanshaw-Bonanza, Loisan and Dixie Lake properties. To see the map please view the following link:

- The Loisan property is situated on the southern border of the Goldcorp/Premier Gold Rahill-Bonanza property. Interpretation of geophysics and air photo lineaments suggest a strong structural intersection underlies the property. Preliminary exploration plans include surface sampling and mapping of priority areas in and around historic gold showings.

- The Dixie Lake property is located south of Goldcorp's Red Lake Mine and has a non-compliant resource of 378,296 tonnes grading 4.4 g/T Au established by Teck Exploration Ltd. ("Teck") (1989-90). Diamond drilling done by Grandview in 2007 and 2008 resulted in the discovery of new high-grade gold zones (NS Zone), and the continuation of existing zones. Within the NS Zone numerous high-grade gold intervals containing visible gold characteristic of a Red Lake vein type deposit, and assays as high as 163.75 g/T Au. Exploration programs include a return to the Dixie Lake property to continue to trace mineralization in the high grade NS Zone and further evaluate other areas of mineralization. Grandview has not completed the work required to verify the historical estimate established by Teck and is not treating this historical estimate as being compliant with current standards under 43-101 and as such this historical estimate should not be relied upon.

Canadian exploration plans also include continued surface sampling and mapping at the Company's highly prospective grassroots properties in the Rice Lake Gold District. Grandview geologists are currently reviewing surface assay results and news of the 2008 exploration season is pending.

About the Property

Grandview has an option to earn 60% interest in the 10 claim Sanshaw-Bonanza property located on the Red Lake Mine Trend in the Red Lake Mining District, approximately five kilometers southwest of Goldcorp's Red Lake Mine. The Red Lake Mine is one of the richest, lowest cost production gold mines in the world with annual production of 600,000 ounces gold and over 11 million ounces produced to date worth almost USD$9 billion at today's prices. The Red Lake Mining District has produced over 30 million ounces of gold worth USD$24 billion.

This document may contain forward looking statements, relating to the Company's operations or 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 or otherwise.

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