Grandview Gold Inc.
OTC Bulletin Board : GVGDF

Grandview Gold Inc.

April 04, 2007 08:30 ET

Grandview Gold Hires Canadian Exploration Manager to Oversee Red Lake and Rice Lake Gold Project Development

TORONTO, ONTARIO--(CCNMatthews - April 4, 2007) - Grandview Gold Inc. ("Grandview" or the "Company") (TSX:GVX)(OTCBB:GVGDF) is very pleased to announce the appointment of Alex Korboukh, M.Sc.,P.Geo to the Company as Manager of Exploration Canada.

Mr. Korboukh holds a Masters of Science in Geology degree from the University of Irkutsk, Siberia and has over 20 years experience working in gold exploration and development and on Canadian gold projects since 1998. Most recently he worked as Underground Mine Manager for the Holloway-Holt Gold Mine in Maddison, Ontario for St. Andrews Goldfields Ltd.

"We are extremely pleased to have Alex join our team. He has great organizational skills and field instincts, and is intimately familiar with the type of archean greenstone belt geology that defines our Red Lake and Rice Lake gold properties - having worked underground on similar structures in the Timmins camp." says Grandview President and CEO Paul Sarjeant, M.Sc.,P.Geo,. Alex has begun reviewing historic exploration data for both Red Lake and Rice Lake projects and joins Mr. Sarjeant in planning exploration programs for this 2007 season. Details of the 2007 program will be released shortly.

Grandview holds 100% interest in eight claims covering 60 hectares in close proximity to Goldcorp's Red Lake Mine in southwest Ontario, the highest grade, lowest cost production mine in the world and an option to earn 60% interest in the 10 claim Sanshaw-Bonanza property, located just five kilometres southwest of Goldcorp's Red Lake Mine which produces over 600,000 oz/au annually; over 11 million oz to date. The Company also holds an option to earn 51% interest in Fronteer Development Group's Dixie Lake Project, located just 16 miles south of Goldcorp's Red Lake Mine. Dixie Lake is a mid-stage exploration property with an established gold resource.

In southeast Manitoba, in the emerging gold region called the Rice Lake Mining District, the Company holds 100% interest in 11 claims covering 234 hectares in close proximity to the Bissett Gold Mine (a.k.a. San Antonio Mine). The Bissett Gold Camp, located on the Rice Lake greenstone belt, is one of the top-producing gold areas in North America. The Bissett Mine has produced over 1.5 million ounces of gold. Three of the 11 claims have mine shafts and known gold mineralization. Grandview has an option to earn 70% interest in the 1120 hectare Rocky Ridge gold property in the historic Lac Du Bonnet Mining District. The Rocky Ridge property has delivered pre-NI43-101 grab sample gold values of up to 140.6 g/t gold and the property shows strong but heretofore unrecognized potential for both high-grade narrow vein and low-grade larger tonnage gold mineralization.

The Rice Lake Greenstone Belt, just across the Manitoba-Ontario border from the Red Lake Mining District, while vastly under-explored, has the potential to be the next Red Lake as it shares many of the same geological features, including the archean greenstone belt. The Company believes this earlier stage play could lead to a significant gold discovery.

The Company also wishes to announce fulfillment of duties and resignation by Company Director Mr. John Hogg. Mr. Hogg's wisdom and guidance were tremendous assets to the Company as it negotiated a period of restructuring. Grandview management thank Mr. Hogg for his tenure with the Company and wish him well as he continues his duties as Vice President Exploration at CMQ Resources Inc.

The Company also wishes to announce that an accounting reserve of $250,000 CAD has been set aside to manage any obligations that may arise from the Company's failure to incur qualifying Canadian exploration expenses in the amount of $750,000 by December 31, 2006 as required pursuant to flow-through subscription agreements entered into by the Company with certain investors in the fall of 2005. The funds were expended largely in connection with the exploration of the Company's properties but these expenses did not qualify as Canadian exploration expenses.

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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