SOURCE: GRIT International Inc.

GRIT International Inc.

October 12, 2010 12:43 ET

GRIT International Inc. -- Signs Agreements to Acquire New Mineral Projects

GRANDE PRAIRIE, AB--(Marketwire - October 12, 2010) -  GRIT International (PINKSHEETS: GRIG) (FRANKFURT: 3GR1) is pleased to announce its agreement with BCT Mining of Vancouver BC Canada to acquire several gold and other mineral projects in Canada, Africa and South America. BCT will be a joint venture partner and will also function as project manager and operator. The company has already begun to review a large 4600 hectare project in Canada that has shown to have 2 ounces of gold per ton of ore. The company is eager to begin further exploration work as it prepares to begin mining this spring. GRIT Minerals expects to acquire a minimum of 24 new leases in Canada by the end of the year as it works toward its target of having 250 substantial Canadian leases in development, joint venture and full production. Many of these Canadian leases are high grade gold deposits with anywhere from 20,000 ounces to 150,000 ounces of gold depending of course on the size of the lease and ease of access. Two of our planned projects already have 43-101 compliant work completed; these documents noted considerable mineral content including both gold and cobalt. This property is expected to hold a minimum of 20,000 tonnes of material resulting in 23grams of gold per tonne. The mineralized structure has also been traced for a length of 300 metres and over a vertical extent of 160 metres and most of this structure has not been tested. The Canadian properties offer GRIT Minerals the advantage of working in a mining friendly environment along with a stable economic and political atmosphere. Canada will be a consistent location for the company with a minimum of 50 years of exploration and production work ahead.

Other projects located in Africa have demonstrated immense potential with one property in particular showing 1,000,000 ounces of gold based on preliminary testing, historical results and production along the same formation. The over-all cost to GRIT Minerals to put this project into production is $5,000,000 USD. Permits are already in place and BCT is ready to begin work once funding is in place. With favourable weather being a part of the climate, GRIT expects to mine this lease 12 months each year. We also expect to uncover additional opportunities at and around this location so we look forward to seeing these results. GRIT Minerals will begin work at this location within 6 weeks and additional testing will be completed. If the anticipated results are proved out, the value of this lease could be in the (Gold: $1,353.00 US/oz) $1,350,000,000 USD.

GRIT Minerals geologists have arrived in Tanzania on October 11th in order to survey another lease which offers the company very exciting opportunities. GRIT expects to see test results come back shortly and the company is hoping to see reserves stated in the 200,000 ounce range. GRIT Minerals has made this project a priority and expects additional exploration work to begin on the property within 4 weeks. The initial exploration budget to begin development is $500,000 USD with a production budget in the $2,000,000 range.

The company is very excited and looks forward to reviewing 6 additional properties now being discussed with our partners. Ecuador is another very prolific area, the company has already selected leases and has begun negotiations for the joint venture development of an area expected to produce 500,000 ounces of gold. This would put reserve estimates to be in the $675,000,000 range, but more firm numbers will be established once exploration has begun and 43-101 compliant documents are completed. The company expects to make further announcements shortly.

Expected 1,500,000 ounces of gold, today's value of $1,350.00 US, placing reserves estimates over $2.0 Billion US; GRIT shareholder value of > $15.00 US per share.

GRIT International President Lawrence Zeiben stated: "This is a big step for Grit as we've managed to progress quickly toward our goal of establishing a significant asset base in minerals. We are also pleased with our partners and operators and we look forward to getting production underway."

GRIT International is a Canadian based company registered in the State of Nevada, US; -- Diversified Industrial Services Company, offering Support Services, Utilities, Oil & Gas and Mineral holdings. The businesses that make up GRIT INTL -- Integrate amongst each other providing a present revenue from the energy industry and also seeks out Environmentally Sustainable solutions in nuclear energy, renewable resources in bio-waste and other alternative fuels available at present time. GRIT foresees expanding its divisions from an international to that of a Global services provider. For more information please visit the company's website at

Safe Harbor Statement; under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

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