NEWS RELEASE

TSX: GVX

For Immediate Release OTCBB: GVGDF

is pleased to report that the Company

commenced diamond drilling on its 234 hectare Angelina Gold Property (the

“Property”)

located southeast of the 1.4 million ounce gold Rice Lake Gold Project (formerly San Antonio

Mine) across the Manitoba-Ontario border from the 30 million ounce gold Red Lake Gold

District and that the 1,500 metre (4,921 ft) program is progressing well.

Grandview geologists, reporting from Bissett, Manitoba confirm what Company President and

CEO Paul Sarjeant, B.Sc, P.Geo, calls “Visual indication of alteration, quartz veining and

sulphidation at greater than expected widths. The number and thickness of these zones and the

veining density appears to be greater than expected, though we won’t know anything definitive

until the results of the first few holes come back from the assay lab.” Visually mineralized zones

range in thickness from a few metres to more than 15.5 metres (drill length).

The 2007 drilling program for the Property follows up on prospecting done earlier this field

season as part of the Rice Lake Greenstone Belt Reconnaissance program. At the Property, eight

surface samples returned anomalous gold values over an area of approximately 450 metres by 150

metres (1,476 by 492 feet). Two samples contained VG (visible gold) and assayed 16.6 g/tonne

gold and 15.2 g/tonne gold. A third sample returned 10.8 g/tonne gold. Grandview geologists

remain focused on examining anomalous shear zones and have refined an eight hole, 1,500 metre

drill program to test the target model.

Grandview considers Manitoba’s emerging Rice Lake Gold District as a potential new major gold

district given its geological similarities to the Red Lake Gold District. What separates the two

Archean greenstone belt districts, other than the provincial border, is their gold exploration

histories. 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.

Grandview’s Canadian geologists are very experienced at interpreting greenstone geology, as

their combined histories and recent success in Red Lake suggest. And, while they consider the

Company’s Rice Lake projects to be early-stage, they believe the adjoining district’s greenstone

similarities to be opportunistic and of fundamental importance. “In the context of gold

exploration, Rice Lake is emerging. However, we as a Company firmly believe that, by virtue of

its geological similarities to Red Lake and the return on investment delivered against historic

exploration activity, Rice Lake has better than average potential for delivering major

discoveries,” says Sarjeant.

In spite of its similarities to the Red Lake Gold District, the Rice Lake Gold District remains

virtually un-explored, having produced about 10-per-cent of the gold produced by the Red Lake

District. Industry estimates suggest that Rice Lake exploration activity runs at about 20-per-cent

of Red Lake levels, and expenditures at about one to two-per-cent.

Grandview Gold News Release – Angelina Drilling – Page 2.

Most mining activity took place prior to WWII and the advent of even pre-modern exploration

techniques. In 2006, San Gold re-opened the San Antonio/Bissett Mine (1.4 million ounces

historic production 1932-68, 1982-83) as the Rice Lake Gold Project and is currently in

production with proven and probable reserves of 1.2 million ounces gold. A dozen other mines

produced an aggregate of 300,000 ounces from 1922 – 1951. No other producing resource

companies are currently operating in the area.

Company Chairman Dr. Michael Hitch. M.Sc, Ph.D, P.Geo, is a considered Rice Lake proponent

and comments, “Exploring for gold is about location, timing and applied geology – and instinct of

course. Goldcorp was visionary and timely when they developed the Red Lake Mine across the

border in Ontario . It has become one of the richest, lowest cost production mines in the world.

It is no surprise that the neighbouring Rice Lake District is now attracting forward-thinking

juniors. Grandview is very fortunate to have three Rice Lake projects under early-stage

development and we are very optimistic about the future of the district.”

) in 2003

and 2004 attracted the Company to the Property which was first staked in 1925. Several shear

zones and high-grade visible gold were discovered on the Property in 1927 and there has been

sporadic exploration over the years. Recent mapping and compilation data produced by P. Fulton-

Regula for Gossan in 2003 indicated gold results from chip samples over multiple shear zones

including 18.0 g/tonne gold over 3.7 metres, 8.84 g/tonne gold over 7.92 metres, 9.18 g/tonne

gold over 2 metres.

Individual grab samples of vein quartz ranged from 31g/tonne to 205.7 g/tonne gold. Gold

mineralization was found along NNW trending shear zones within a structurally complex

assemblage of basalts, metasediment, gabbro and tuffs. In 2004, Gossan drilled 10 shallow

diamond drill holes with results including; Ang-04-01 returned 3.4 g/tonne gold over 1 metre and

Ang-04-05 returned 1.9 g/tonne gold over 4.2 metres. For further details regarding the

exploration history of the Property visit the Past Exploration and Drilling Results pages of the

Company website at

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For further information, contact Paul Sarjeant at 416.486.3444 #113 or visit

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