Grandview Gold Inc.
OTC Bulletin Board : GVGDF
TSX : GVX

Grandview Gold Inc.

May 25, 2006 16:53 ET

Grandview Gold to Remain Independent

TORONTO, ONTARIO--(CCNMatthews - May 25, 2006) - Grandview Gold Inc. (TSX:GVX) (OTCBB:GVGDF) ("Grandview Gold" or the "Company") announced today that its board of directors (the "Board") has determined not to proceed with either of the merger proposals referenced in its April 20, 2006 press release. After a thorough review of the two proposals and obtaining professional advice from Westwind Partners Inc., the Board has determined that neither merger proposal is in the best interest of Grandview shareholders.

As stated on May 11, 2006 Grandview's gold exploration program in Nevada is expected to start in the first half of June. The immediate 12 drill hole targets are in proximity to Newmont's PC-20 high-grade hole and drill hole PC-05-02/2A, drilled in late 2005, with high-grade intercepts referenced in Stockwatch on February 1, 2006.

Under the terms of the option agreement for the Pony Creek/Elliot Dome properties, Grandview has the right to earn an undivided 60-percent interest from Mill City Gold Corp. by spending $3.5-million (U.S.) over three years commencing April, 2005, subject to certain conditions.

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 Toronto Stock Exchange (TSX) 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.

Contact Information

  • Grandview Gold Inc.
    Rick Brown
    (416) 867-8280