Grenville Gold Corporation

Grenville Gold Corporation

June 11, 2008 09:00 ET

Grenville Gold Cancels 1,277,220 Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2008) - Grenville Gold Corporation ("Grenville" or "the Company"), (TSX VENTURE:GVG)(PINK SHEETS:GVLGF)(FRANKFURT:F9I)(WKN:A0KELU) announces that it has cancelled 1,277,220 stock options granted to certain former directors, employees and consultants.

"Our focus is to limit dilution of the company's shares while joint venture partners develop our properties in the San Mateo area of Peru where there is ground staked by major mining companies, current mining activity by small-cap and mid-tier companies and several historic mines." stated A. Paul Gill, President & CEO, "At the same time, listing on the Peru Stock Exchange, the Bolsa de Valores de Lima SA, will increase exposure to knowledgeable retail and institutional investors in South America."

Grenville's Silveria Project is currently under a joint venture with Journey Resources Corp., subject to regulatory approval. Grenville intends to develop its Silveria polymetalic project, which is located in the Huarochiri Province of Peru approximately 90 km northeast of the city of Lima and covers 3,959 hectares of mineral concessions. The Silveria project area includes four historic mines: the Pacococha, Millotingo, Germania and Silveria mines. The project is 2-4 kms from the Corichanca Mine owned by GoldHawk Resources. The more significant mines during its period of operations were the Millotingo mine which produced lead, zinc, gold, copper and primarily silver and the Pacococha mine which was predominantly lead, zinc, silver and copper.

About Grenville Gold Corporation

Grenville Gold is a junior resource company seeking prospective properties in Peru. Grenville Gold plans to leverage the experience of its board and management in exploration and mining to develop its growth strategy in North and South America.

On behalf of the Board of Directors,

Mel Rokosh, Director

We Seek Safe Harbour

All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission, the Ontario Securities Commission, and the Alberta Securities Commission.

The TSX-Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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