Grandview Gold Inc.
OTC Bulletin Board : GVGDF

Grandview Gold Inc.

June 06, 2008 05:00 ET

Grandview Mobilized Reconnaissance Teams to GEM-GVG-Grand Group in Highly Prospective Rice Lake Gold District

TORONTO, ONTARIO--(Marketwire - June 6, 2008) - Grandview Gold Inc. (TSX:GVX)(OTCBB:GVGDF) ("Grandview" or the "Company") is pleased to report that the company mobilized geological field crews to its Rice Lake Properties (the "Properties") in Manitoba's emerging Rice Lake Gold District. The teams arrived at the Properties comprising 7,605 hectares, situated southeast of the 1.7 million ounce gold Rice Lake Mine Complex, just across the provincial border from Ontario's 30 million ounce gold Red Lake Gold District.

"This highly prospective grassroots opportunity is precisely the sort of operation our Company is primed to identify and develop," says Grandview CEO and President Paul Sarjeant. "Our geological team is particularly skilled in interpreting Archean greenstone geology and worked with internal airborne geophysical data, historic assessment files and recent Manitoba Geological Survey geological mapping information these past months updating and reinterpreting geology and the opportunity."

The reconnaissance teams continue surface sampling and mapping of those priority areas in and around historic gold showings and recorded and implied past-production to evaluate and define potential targets for diamond drilling later this year.

The Properties are considered highly prospective for gold. Surface work on neighboring properties proved to be highly successful and surface and structural environments are closely analogous to those hosting spectacular high-grade gold mineralization in the Red Lake Mine in Ontario. Advance work done by the reconnaissance team supports an aggressive exploration program, details of which will be announced as the field season unfolds. "We continue to mitigate exploration time and expense by applying as much experience, research and advanced geology as possible in advance of drilling so that we can best advantage a rather short field season and optimize exploration funds," adds Sarjeant.

About the Properties

The Company is exploring and developing 7,605 hectares of consolidated property in the Rice Lake Gold District, including 100-percent interest in the 14 claim 2,824 hectare Banksian project, an option with Marum Resources Inc to earn a 50-percent interest in the seven claim 1,594 hectare GEM claim group, and has staked additional claims in the area for follow up work this summer.

About the Rice Lake Gold District

The Rice Lake Gold District in mining-friendly Manitoba is best-known for the 1.7 million ounce gold Rice Lake Mine Complex which resumed operations in 2006. The Rice Lake Gold District is an emerging gold district located approximately 80 kilometres west of the prolific Red Lake Mining District in Ontario, home to Goldcorp's 11 million ounce Red Lake Mine complex which produces over 600,000 ounces of gold per year.

The Red Lake and Rice Lake Mining Districts share many geologic features. They lie in the same geological terrain, on the same crustal fault and are structurally very similar. Like the Red Lake greenstone belt, the Rice Lake greenstone belt is part of the Superior Province and Uchi Subprovince. What separates the districts from each other is their exploration history and the border between the provinces of Manitoba and Ontario.

In spite of its similarities to the Red Lake Gold District, the Rice Lake District remains virtually un-explored, having produced about 10 percent of the gold produced by the Red Lake District. Industry estimates suggest that Rice Lake exploration activity runs at about 20 percent of Red Lake levels, and expenditures at about one to two percent. Most mining activity took place prior to WWII and the advent of even pre-modern exploration techniques.

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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