Grandview Gold Inc.
CNQ : GVGI
OTC Bulletin Board : GVGDF

Grandview Gold Inc.

March 27, 2006 15:18 ET

Grandview Gold Inc. Announces Closing of $4,384,571.40 Financing

TORONTO, ONTARIO--(CCNMatthews - March 27, 2006) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Grandview Gold Inc. (CNQ:GVGI)(OTCBB:GVGDF) ("Grandview Gold" or the "Company") - is pleased to announce that it has closed on $4,384,571.40 of a private placement previously announced on February 3, 2006 from the issuance of 3,985,974 Units at a price of $1.10 per Unit. Each Unit is comprised of one common share and one-half of one warrant, with each of the 1,992,987 whole warrants exercisable at $1.75 for an additional common share of Grandview Gold, for a period of 3 years from the closing. The placement was brokered by Haywood Securities Inc. and Coniston Investment Corp. for a negotiated commission of 8% paid in cash, as well as 398,597 broker warrants exercisable at $1.10 for 36-months. The securities issued under the private placement are subject to a four-month resale restriction.

The net proceeds of the offering will be used to fund an aggressive deep hole drilling program on the Company's Carlin Trend Pony Creek project in Nevada, and for general working capital purposes.

Also, further to its press release dated February 16, 2006, wherein Grandview Gold announced that it had received conditional approval for listing of its common shares on the Toronto Stock Exchange (the "TSX"), Grandview Gold is pleased to announce that it has, with this financing, met all of the conditions set out in this conditional listing letter, subject to filing of final documentation with the TSX.

Grandview Gold Inc. is a gold exploration company focused 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 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 are 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 any 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.

This is not an offer for sale, or a solicitation of an offer to buy, in the United States or to any US Person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act") of any equity shares or any other securities of Grandview Gold Inc. Securities ("securities") of Grandview Gold Inc. are traded on the Canadian Trading & Quotation System (CNQ) and on the OTC BB. This does not constitute, and should not be construed as, "general solicitation or general advertising" as defined under Regulation D of the Securities Act, or "directed selling efforts" under Regulation S of the Securities Act.

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