SOURCE: Grenville Gold Corporation

March 26, 2007 09:15 ET

Grenville Gold Initiates Scoping Study by Knight Piesold Consulting for Silveria Project

VANCOUVER, BC -- (MARKET WIRE) -- March 26, 2007 -- Grenville Gold Corporation ("Grenville" or "the Company") (TSX-V: GVG) (PINKSHEETS: GVLGF) is pleased to report that is has engaged Knight Piesold Consulting in Lima, Peru to assess tailings management options and complete a scoping study for its Silveria Project in Peru.

"We are committed to moving this project forward and identifying the challenges we may face early on in the process," stated Len De Melt, Chairman.

Grenville is focused on developing its Silveria Project located in San Mateo District, Peru. As part of the overall development plan for the project, conceptual level scoping studies will be necessary to establish as early as possible the potential locations for key structure such as the tailing storage facility (TSF), plant site and mine waste dump. The selected tailing facility, plant site and mine waste site will have an important affect on permitting strategies. The conceptual studies will, therefore, strive to find combinations of cost effective tailing storage methods and mine waste placement so as to maximize the available storage in an environmentally acceptable manner.

In regards to the assessment of tailings, the work will include, but not be limited to, a ranking system, considering both conceptual-level expenditures for the listed options or a combination of the following tailing management options:

--  Slurry behind a water retaining rock fill dam.
--  High density thickened slurry behind a water retaining rock fill dam.
--  Cyclone sand drained embankment.
    
Without prejudging the outcome of the study, it is known that some of the above options will be very difficult and costly to operate. Nonetheless, each option will be addressed so that a comparative analysis can be conducted.

The work also includes a preliminary site audit of the existing abandoned tailing facility, evaluation of tailing storage facility options, tailing pipeline routing for transportation and deposition from the proposed plant site location, proposed location for the plant site and mine waste dump. This work will optimize the storage potential of tailing and mine waste within the project area and will take into account the tailing transportation issues and environmental issues which will have a significant influence on successful permitting.

The work scope will include, but not be limited to:

--  Confirmation of Base Case production, storage requirements and overall
    site facilities conceptual layout.
--  Review of available near-site topographic mapping.
--  Conceptual understanding of local geotechnical conditions in areas of
    interest.
--  Preliminary site audit of the abandoned tailing facility.
--  Tailing storage capacity determinations for other sites or combination
    of sites.
--  Evaluate pipeline routes for slurry transportation and deposition
    associated with each option from each plant site.
--  Hydrology and surface water management/diversion issues for each site.
--  Review mine plan with regard to the schedule for delivery of mine
    waste and waste rock for use in tailing containment embankments if made
    available.
--  Rank a selected list of available potential impoundment sites and
    tailing management options, mine waste dump layouts and potential plant
    site locations for further analysis in the pre-feasibility study.
--  Conduct a site trip to inspect the abandoned tailing facility and to
    carry out a general site reconnaissance program.
    
On the basis of the findings and recommendations of this conceptual desk study, the advantage of the knowledge and experience gained will allow for a better informed position to provide an accurate and meaningful proposal for carrying out the pre-feasibility study which will include field investigations and laboratory testing of tailing samples and mine waste.

About Grenville Gold Corporation

Grenville www.grenvillegold.com is a junior resource company seeking prospective properties in Peru and Ecuador. The Company has three subsidiaries: Inversiones Mineras Alexander S.A.C. in Peru, Minera MineGreville S.A. in Ecuador and Parkman Diamond Corp. in Ontario, Canada. Grenville plans to leverage the experience of its Board and Management in exploration and mining to develop its growth strategy in North and South America. For further information contact 604-669-8842 or info@grenvillegold.com.

On behalf of the Board of Directors,

"A. Paul Gill"
President & CEO
Ph. 604-669-8842
info@grenvillegold.com
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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. We seek safe harbour.

Contact Information

  • Contact:
    A. Paul Gill
    President & CEO
    Ph. 604-669-8842
    Email Contact