Drilling to Commence
at Galeana and Guadalupe Projects
Vancouver, British Columbia, October 25,
2004 - Grid Capital Corp. ("Grid") (TSXV:GID) is pleased to announce
the commencement of the fall drill program at the Company's two properties
in the Sierra Madre precious metal belt in Chihuahua State, Mexico. Crews
are presently on site doing minor road repairs and it is anticipated that
drilling will begin the last week of October.
Galeana Gold/Silver Project
The Company commenced a diamond drill program
at Galeana in February, 2004.
Drilling was halted in the spring due to the onset of the rainy season.
Upon re-commencement, the primary target, the San Miguel Ahumada zone will
be drill tested.
Historic production is estimated at 100,000 oz. of gold averaging 0.6
oz./ton. Grid believes that the historic grades reported from the Galeana
vein systems have potential to host a multi-million ounce gold resource.
Guadalupe La Bufa Gold/Silver Project
The Guadalupe La Bufa project surrounds the
town of Guadalupe y Calvo, where another mining company, MexGold
Resources, is currently undertaking a major drill program. This area has
been the site of significant historical gold/silver production (2 million
oz. of gold and 28,000,000 oz. of silver).
A major vein structure, La Bufa, has been
traced over a 1.4 kilometer distance on Grid's Guadalupe property. The
Bufa vein structure is hosted in a window of Lower Group andesitic rocks,
the same rocks that host the past-producing mines at Guadalupe y Calvo
located one kilometer to the northwest.
Additional mapping and sampling has been
carried out along the main vein system which consists of a series of NW-SE
striking, en echelon, banded and brecciated, low sulphidation epithermal
quartz veins that vary in length from 200 to 700 meters. The aggregate
length of all veins mapped is approximately 39 kilometers. Of this, about
1.6 kilometers of vein strike length ranges from 1 meter to 7.8 meters in
true thickness.
The veins are variably mineralized with
pyrite, hematite and limonite with the best precious metal values obtained
from the northwestern one half of the system. To date, 47 chip samples
have been collected from 33 locations along this section of the vein
system. At 30 of these locations, sample results ranged from 0.1 to 13.95
grams per tonne (g/t) gold and up to 193 g/t Ag over widths of 0.3 to 5.8
meters.
The project work is under the direction of
Juan Caelles, Ph.D., P.Geo., a qualified person within the meaning of
National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E (Ted) Charlesworth
President
For further information please contact John Watson at
604.272.4352/604.765.5422 or
toll free at 1.877.872.4352 or by email at:
The TSX Venture
Exchange has not reviewed nor accepted responsibility for the adequacy or
accuracy of the contents of this news release which has been prepared by
management. Statements contained in this news release that are not historical
facts are forward looking statements. Such forward‑looking statements are
subject to risks and uncertainties which could cause actual results to differ
materially from estimated results.
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
Results of Diamond Drill Test of Rosswoll Wollastonite
Deposit in Southeastern B.C.
Update on Galeana and Guadalupe Projects
Vancouver, British Columbia, July 14, 2004
- Grid Capital (Grid) (TSXV:GID) is pleased to report that a second
program of diamond drilling on the Rosswoll wollastonite deposit located
north of Rossland, B.C. is currently underway.
Five holes have been completed for a total of 174 metres on three sections
separated by 25 metres along a north-south strike. This 2004 drilling adds
75 metres of strike length to the north end of the 50 metres of strike
tested by 4 holes in late 2003.
Over this 125 metres of demonstrated strike length, the WM (wollastonite
marble) zone varies from 38 to 60 metres thick, strikes northerly and dips
about 30 degrees west. The upper half of the zone is dominated by
wollastonite, as much as 80% by volume, on section 5050N. The lower part
of the zone is a coarsely crystalline white marble.
Grid is planning an additional two or three more holes at the Rosswoll
property at which time an inferred tonnage will be estimated.
Procedures and testing facilities for defining the quality of the
wollastonite are being studied. Material will be collected from cores and
distributed to users and test facilities to determine quality.
The project work is under the direction of T.W. Muraro, P. Eng., a
qualified person within the meaning of National Instrument 43-01.
Update of Galeana and Guadalupe Projects
Galeana Project
Since the last update (March 24, 2004), the
Company completed the initial phase of a diamond drill program at the
Faldo Norte zone. During this period, sampling of the Estrella de Oro zone
was completed and further work is planned.
Due to the onset of the rainy season, drilling activity is planned to
resume in the fall, at which time, the primary target, the San Miguel
Ahumada zone will be drill tested.
Guadalupe Project (La Bufa)
Additional sampling was completed at the
Guadalupe property surrounding the town of Guadalupe y Calvo in Chihuahua
State. The results of this sampling work were encouraging and indicate
additional work.
The Company continues to monitor the activities of another mining company,
Mexgold Resources, which has undertaken a major drill program at Guadalupe
y Calvo.
The Company plans to begin the initial phase of a diamond drill program in
the fall of 2004.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E (Ted) Charlesworth
President
For further information please contact John Watson at
604.272.4352/604.765.5422 or
toll free at 1.877.872.4352 or by email at:
The TSX Venture
Exchange has not reviewed nor accepted responsibility for the adequacy or
accuracy of the contents of this news release which has been prepared by
management. Statements contained in this news release that are not historical
facts are forward looking statements. Such forward‑looking statements are
subject to risks and uncertainties which could cause actual results to differ
materially from estimated results.
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
SAMPLING RESULTS FROM
GUADALUPE PROJECT
Vancouver, British Columbia, June 21, 2004 - Grid Capital
Corporation (Grid) announces that additional sampling has recently been
completed at its Guadalupe property surrounding the town of Guadalupe y
Calvo in Chihuahua State, Mexico. The property is held under option from
Almaden Minerals Ltd. Grid may earn a 60% interest in the property by
spending US $2,000,000 and issuing 500,000 shares to Almaden.
A major vein structure, the Bufa, has been traced over a 1.4 kilometer
distance on Grid's Guadalupe property. The Bufa vein structure is hosted
in a window of Lower Group andesitic rocks, the same rocks that host the
past- producing mines at Guadalupe y Calvo located one kilometer to the
northwest. Historic production at Guadalupe y Calvo is estimated at
2,000,000 ounces gold and 28,000,000 ounces silver.
The additional mapping and sampling was carried out along the main vein
system which consists of a series of NW-SE striking, en echelon, banded
and brecciated, low sulphidation epithermal quartz veins that vary in
length from 200 to 700 meters. The aggregate length of all veins mapped is
approximately 3.9 kilometers. Of this, about 1.6 kilometers of vein strike
length ranges from 1 meter to 7.8 meters in true thickness.
The veins are variably mineralized with pyrite, hematite and limonite
with the best precious metal values obtained from the northwestern one
half of the system. To date, 47 chip samples have been collected from 33
locations along this section of the vein system. At 30 of these locations,
sample results ranged from 0.1 to 13.95 grams per tonne(g/t) gold and up
to 193 g/t Ag over widths of 0.3 to 5.8 meters.
Highlights from the most recent sampling are as follows
|
Au(g/t) |
Ag(g/t) |
Width
(meters) |
|
1.63 |
18.5 |
3.2 |
|
3.39 |
19.6 |
0.7 |
|
1.05 |
57.8 |
4.0 |
|
6.05 |
108.0 |
1.2 |
|
6.08 |
47.7 |
1.5 |
|
3.89 |
49.5 |
1.3 |
|
2.22 |
39.7 |
3.5 |
Prospecting on the NW portion of the Bufa claim was also undertaken and
results are currently being compiled.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E (Ted) Charlesworth
President
For further information please contact John Watson at
604.272.4352/604.765.5422 or
toll free at 1.877.872.4352 or by email at:
The TSX Venture
Exchange has not reviewed nor accepted responsibility for the adequacy or
accuracy of the contents of this news release which has been prepared by
management. Statements contained in this news release that are not historical
facts are forward looking statements. Such forward‑looking statements are
subject to risks and uncertainties which could cause actual results to differ
materially from estimated results.
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
Sampling Results
From Galeana Project
Vancouver, British Columbia, June 17, 2004 - Grid Capital
Corporation (Grid) announces that sampling of the Estrella de Oro vein
structure was recently completed on the Galeana property located in
southeast Chihuahua State, Mexico. The Estrella de Oro occurrence is one
of several high-grade, epithermal gold-silver quartz vein occurrences
located on the Galeana property optioned from Almaden Minerals Ltd. This
occurrence is located approximately 1.4 kilometers southwest of the
Ahumada vein structure which will be the target of an up-coming drill
program.
The results of mapping and sampling conducted on the accessible
portions of surface exposures and 100 year-old mine workings located at
Estrella de Oro are described as follows:
The West Vein has been traced in outcrop and underground over a strike
length of greater than 100 meters. Two historic adits have been developed
on the vein. The South Adit exposes the vein over a strike length of 40
meters and chip samples across the vein spaced from 5 to 7 meters apart
returned the following results.
|
Au(g/t) |
Ag(g/t) |
Width
(meters) |
|
2.67 |
5.2 |
0.50 |
|
5.12 |
13.9 |
0.45 |
|
5.88 |
9.0 |
0.55 |
|
9.31 |
15.3 |
0.65 |
|
3.96 |
6.9 |
0.80 |
|
8.27 |
14.4 |
0.75 |
|
1190 ppb |
1.7 |
0.30 |
The North Adit is developed on the West Vein over a strike length of
greater than 200 meters. Where exposed, the vein is dominantly calcite. A
chip sample collected on the exposed vein 20 meters from the portal
assayed 0.139 g/t and 1.2 g/t Ag over a 0.2 meter width. A second chip
sample taken on the vein at 110 meters from the portal returned 3.76g/t
and 11.5g/t Ag over a width of 1.3 meters.
The East Vein is exposed approximately 100 meters north of the surface
exposure of the West Vein and has been traced over a strike length of
about 180 meters. Historic production records from the early 1900's
indicate that the vein widened considerably with depth. Chip samples from
outcrop and old mine workings returned the following assays:
|
Sample No. |
Sample Location |
Au(g/t) |
Ag(g/t) |
Width
(meters) |
|
4703 |
Pillar at south end of stope on East Vein |
52.5 |
225 |
1.20 |
|
4749 |
Portion of East Vein remaining on wall of 1
meter-wide open stope approx. 25 m north of sample 4703 |
7.43 |
39.6 |
0.10 |
|
4750 |
Surface exposure of parallel vein approx. 7 m
NW of sample 4749 |
5.56 |
21.0 |
0.30 |
|
4704 |
Exposure of East Vein in 2 meter-long adit
approx. 50 m north of mouth of stope |
13.3 |
238 |
0.30 |
|
4748 |
Surface exposure of East Vein 5 m north of adit
described above |
14.9 |
74.3 |
0.10 |
|
4705 |
Surface exposure of parallel vein 5 m east of
adit. |
1.29 |
4.2 |
0.05 |
|
4747 |
Surface exposure of East Vein approx. 70 m
north of mouth of stope |
11.85
|
78.2 |
0.12 |
|
4706 |
East Vein exposed at top of shaft approx. 10 m
north of sample 4747 |
4.08 |
81.2 |
0.10 |
|
4702 |
Surface exposure of parallel vein approx. 30 m
southwest of mouth of stope |
23.8 |
79.0 |
0.45 |
The current sampling of surface exposures and historic workings on the
Estrella de Oro vein system indicates that potential for high-grade
gold-silver mineralization exists below the historic workings. Further
work is being planned.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E (Ted) Charlesworth
President
For further information please contact John Watson at
604.272.4352/604.765.5422 or
toll free at 1.877.872.4352 or by email at:
The TSX Venture
Exchange has not reviewed nor accepted responsibility for the adequacy or
accuracy of the contents of this news release which has been prepared by
management. Statements contained in this news release that are not historical
facts are forward looking statements. Such forward‑looking statements are
subject to risks and uncertainties which could cause actual results to differ
materially from estimated results.
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
GUADALUPE PROJECT UP-DATE
Vancouver, British Columbia, April 27, 2004
- Grid Capital Corporation (Grid) announces that an initial program of
geological mapping and sampling has been completed at its Guadalupe
property surrounding the town of Guadalupe y Calvo in Chihuahua State
Mexico. The property is held under option from Almaden Minerals Ltd. Grid
may earn a 60% interest in the property by spending US $2,000,000 and
issuing 500,000 shares to Almaden.
A major vein structure, the Bufa, has been traced over a 1.4 kilometer
distance on Grid's Guadalupe property. The Bufa vein is hosted in a window
of Lower Volcanic Group andesitic rocks, the same rocks that host the
past-producing Mines at Guadalupe y Calvo located one kilometer to the
northwest. Historic production at Guadalupe y Calvo is estimated at
2,000,000 ounces gold and 28,000,000 ounces silver.
The Bufa vein is a banded, brecciated, low sulphidation, epithermal quartz
vein that is cross-cut by a series of en echelon veins varying in length
from 30 cm to 7.8 meters true thickness. The veins are variably
mineralized with pyrite, hematite and limonite.
Sixty (60) chip samples taken across the vein system, returned elevated
gold and silver values along its entire length. The best values were
obtained from the northwest one-half of the vein system where 15 of 16
chip samples returned assays ranging from 0.1 g/t gold to 2.2 g/t gold and
2.9 g/t to 84.4 g/t silver over vein widths averaging 1.4 meters. All
samples were analyzed at ALS Chemex Labs in North Vancouver. A more
detailed sampling program of the vein system is expected to be carried out
within the next two weeks.
Exploration carried out on the Guadalupe property by Grid is under the
direction of H.Leo King, P.Geo., a qualified person within the meaning of
National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E (Ted) Charlesworth
President
For further information please contact John Watson at
604.272.4352/604.765.5422 or
toll free at 1.877.872.4352 or by email at:
The TSX Venture
Exchange has not reviewed nor accepted responsibility for the adequacy or
accuracy of the contents of this news release which has been prepared by
management. Statements contained in this news release that are not historical
facts are forward looking statements. Such forward‑looking statements are
subject to risks and uncertainties which could cause actual results to differ
materially from estimated results.
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
HIGH-GRADE FLOAT FOUND
ON GALEANA PROPERTY
Vancouver, British Columbia, April 22, 2004 - Grid Capital
Corporation (Grid) reports that recent prospecting on the Galeana
gold-silver property in Chihuahua State, Mexico, has encountered
high-grade gold-silver mineralization in epithermal quartz-carbonate float
found in the area of the Estrella de Oro vein structure. The area is
located 2 kilometers to the south along the projected strike extent of the
Ahumada Zone. The highest assay was returned from sample No. 1519 which
assayed 96.9 g/t (3.11oz/ton) gold and >100 g/t (3.2oz/ton) silver. A
second piece of float from the same area, sample No. 1518, assayed 18.85
g/t (0.61oz/ton) gold and 98.8 g/t (3.18oz/ton) silver. A more detailed
prospecting and mapping program is expected to commence shortly in efforts
to determine the source of the high- grade boulders.
The diamond drill program at Galeana, initiated in February 2004 was
suspended while road access was completed to the primary drill target, the
Ahumada Zone, which has not yet been drilled. Significant historic
production and some of the best sampling results by Almaden Minerals Ltd.
and Grid were obtained from this zone.
Initial drill testing with 3 diamond drill holes of a secondary target,
the Falda Norte Zone, was completed in February, 2004. The drill holes did
not intersect the down-dip projection of the Falda Norte structure due to
post mineral diking and faulting. However, in the first hole, a partially
sampled, altered, quartz-veined andesite dike returned an average of 0.41
g/t gold and 9.4 g/t silver over a core length of 1.4meters.The drilling
did not provide a conclusive test of the Falda Norte vein structure.
On-going geological interpretation of the initial drill results will
determine if additional drill testing of this structure is warranted.Drill
testing of the Ahumada Zone will commence as soon as a drill can be
mobilized.
The Galeana property is held under option from Almaden Minerals Ltd.
Grid may earn a 60% interest in the property by spending U.S.$2,000,000
and issuing 500,000 shares to Almaden.
Exploration carried out on the Galeana property is under the direction
of H.Leo King, P.Geo., a qualified person within the meaning of National
Instrument 43-101. All samples taken were analyzed at ALS Chemex Labs in
North Vancouver.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E (Ted) Charlesworth
President
For further information please contact John Watson at
604.272.4352/604.765.5422 or
toll free at 1.877.872.4352 or by email at:
The TSX Venture
Exchange has not reviewed nor accepted responsibility for the adequacy or
accuracy of the contents of this news release which has been prepared by
management. Statements contained in this news release that are not historical
facts are forward looking statements. Such forward‑looking statements are
subject to risks and uncertainties which could cause actual results to differ
materially from estimated results.
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
Corporate Review and Update
Vancouver, British Columbia, March 23, 2004 –
Grid Capital Corporation ((TSXV:GID) is pleased to provide the first in a
series of periodic corporate reviews. These reviews will provide
shareholders and other interested investors with a summary of the
Company’s progress.
Over the past three months, the Company has greatly strengthened its cash
position as a result of the successful completion of an $850,000 financing
in January. Also, in February, 1,260,000 warrants were exercised at $.35,
adding an additional $441,000 to the Company treasury. The Company is now
in a strong position to advance its current projects and to consider other
opportunities.
In February, the Company began the initial phase of a diamond drill
program on the Galeana gold/silver property in Chihuahua State, Mexico.
Progress has been somewhat slowed as a result of additional and unexpected
road work being required to get to the primary targets. Management is
optimistic that the required road work will be completed shortly and
drilling can commence at the primary sites.
Also, in February Grid announced that the Guadalupe (La Bufa) gold/silver
project had been optioned from Almaden Minerals Ltd., a TSX listed
company. The Guadalupe project surrounds the town of Guadalupe y Calvo in
Chihuahua State, Mexico, where another mining company, Mexgold Resources,
is currently undertaking a major drill program. This area has been the
site of significant historical gold and silver production (2 million
ounces of gold and 28 million ounces of silver).
Work has begun on the Grid’s Guadalupe property and the
Company has engaged the firm of Pincock, Allen and Holt, Consulting
Engineers, to prepare a Geological Report.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E (Ted) Charlesworth
President
The TSX Venture Exchange has neither approved nor disapproved of this
press release.
For further information please contact John Watson at
604.272.4352/604.765.5422 or
toll free at 1.877.872.4352 or by email at:
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
Vancouver,
British Columbia, February 26 2004 - Grid Capital Corporation
(“Grid") (TSXV: GID) announced that to date 1,080,000 of the common share
purchase warrants that expire March 6, 2004 have been exercised. The
exercise price of the warrants was 35 cents per share. Proceeds totaled
$378,000 and will be added to the funds for the continuing exploration and
advancement of Grid’s Galeana and Guadelupe gold/silver projects in Mexico
and for general corporate purposes, including an on-going public relations
program.
On February
12, 2004, Grid announced that it had optioned the Guadelupe gold/silver
project from Almaden Minerals Ltd. This property is located in the
immediate area of Guadelupe y Calvo, a historic gold/silver mining town in
Southwest Chihuahua State, Mexico. Grid expects to initiate an exploration
program on the property in the near future.
As
announced on February 16, 2004, Grid began a diamond drill program on the
Galeana gold/silver property in the Sierra Madre precious metal belt in
Chihuahua State, Mexico. The property is held under option from Almaden
Minerals Ltd. Grid may earn up to a 60% interest in the Galeana property
under the terms of a joint venture agreement.
For more detailed information on these properties,
please visit the News Releases at
www.gridcapitalcorp.com
.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E. (Ted) Charlesworth
President
The TSX Venture Exchange has neither approved nor disapproved of this
press release.
For further information please contact John Watson
604.272.4352 / 1.877.872.4352, by cell at 604.765.5422 or by email at:
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
Preliminary
Results of Diamond Drill Test of Rosswoll Wollastonite Deposit in S.E.,
B.C.
Vancouver, British Columbia, February 23, 2004 -
Grid Capital Corporation (Grid) (TSXV: GID) is pleased to report results
of the first diamond drill tests of the Rosswoll wollastonite deposit
located near Highway 3A, 12 km, north of Rossland, B.C.
The wollastonite zone occurs within a west-dipping, limestone interval of
the Mount Roberts Formation and is exposed for 100 meters along a
northerly trending ridge.
Four diamond drill holes tested the wollastonite bearing zones with 3 of
the 4 holes intersecting wollastonite over core lengths of 9 meters to
21.6 meters.
Hole No. 1, collared on line 5000 N and 936 E and drilled at -50 degrees
E, intersected wollastonite from 12 to 20 meters.
Hole No. 2, collared 50 meters north of Hole No. 1 on section 5050 N and
943 E and drilled at -50 degrees E, intersected a late dike.
Hole No. 3 was collared on section 5050 N and 961 E and drilled at -60
degrees E. A 21.6 meter core interval of wollastonite, from 0.7 m to 22.3
meters, was intersected, interrupted by only one 2.6 meter section of
marble and dike from 18.2 m to 20.7 m.
Hole No. 4, drilled vertically from the same location as Hole No. 3,
intersected wollastonite over a core length of 13.2 meters, from 1.2
meters to 14.2 meters.
Sufficient wollastonite was obtained from core for preliminary testing.
Thin sections, microscopic descriptions, x-ray diffraction work and whole
rock analyses have been completed. The dominant, non-wollastonite
component is calcite with minor (<1%) diopide. An estimated 80 to 90
percent of the 11 meters of core tested is coarse-grained wollastonite
with 1 to 2 cm radiating crystals intergrown and generally oriented
parallel to the compositional layering.
Further testing is necessary to determine qualitative results for aspect
ratio, brightness, whiteness and purity. Management is encouraged with the
results and additional drilling is planned to determine the size and
character of the deposit.
The project work is under the direction of T.W. Muraro, P. Eng., a
qualified person within the meaning of National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E. (Ted) Charlesworth
President
The TSX Venture Exchange has neither approved nor disapproved of this
press release.
For further information please contact John Watson
604.272.4352 / 1.877.872.4352, by cell at 604.765.5422 or by email at:
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
DIAMOND DRILLING PROGRAM UNDERWAY AT GRID'S GALEANA
PROJECT, MEXICO
Vancouver, British Columbia, February 16, 2004 -
Grid Capital Corporation (Grid) (TSXV: GID) is pleased to announce that a
diamond drill program has commenced on the Galeana gold/silver property in
Chihuahua State, Mexico. The property is held under option from Almaden
Minerals Ltd. (Almaden). Grid may earn a 60% interest in the Galeana
property by spending US$2,000,000 and issuing 500,000 shares to Almaden.
The drill program will consist of a total of 1,500 meters to test two of
the systems identified on the property, the Miguel Ahumada and Faldo Norte
zones. The Galeana property hosts three major, classic, epithermal,
banded, quartz-adularia vein systems, the San Miguel-Ahumada-Estrella de
Oro, the Faldo Norte and the San Geronimo. All have had limited historic
production prior to the Mexican revolution when all mining activity
ceased. Mapping, sampling and alteration mineralogic and petrographic
analyses of the veins in the Galeana area have resulted in the
interpretation that the exposed veins represent a high level within the
original hydrothermal system. This interpretation, coupled with the
identification of high-gold grades in fragments found in breccia bodies
identified on the property, suggests that the potential to identify high
grade gold and silver ore shoots in the veins may increase with depth.
Exploration carried out on the Galeana property by Grid is under the
direction of H. Leo King, P.Geo., a qualified person within the meaning of
National Instrument 43-101. Samples will be sent to ALS Chemex Labs in
North Vancouver for analysis.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E. (Ted) Charlesworth
President
The TSX Venture Exchange has neither approved nor disapproved of this
press release.
For further information please contact John Watson
604.272.4352 / 1.877.872.4352, by cell at 604.765.5422 or by email at:
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
GUADALUPE PROJECT OPTIONED FROM
ALMADEN MINERALS LTD.
Vancouver, British Columbia, February 12, 2004 -
Grid Capital Corporation (Grid) (TSXV: GID) is pleased to announce that
the Guadalupe gold/silver project in Mexico has been optioned from Almaden
Minerals Ltd. (Almaden), a TSX listed company. Under the terms of the
agreement, Grid must issue to Almaden 400,000 shares and complete
exploration expenditures of US$1,000,000 by June 30, 2007, to earn a 50%
interest in the project. Grid is committed to issue 100,000 shares to
Almaden upon TSX Venture Exchange approval of the agreement and to
complete US$50,000 in exploration expenditures by June 30, 2004. Grid may
earn an additional 10% interest in the property by issuing a further
100,000 shares and spending a further US$1,000,000 in exploration
expenditures by December 31, 2008.
The Guadalupe project surrounds the town of Guadalupe y Calvo in Chihuahua
State, Mexico.
Gold was discovered at Guadalupe y Calvo in October 1835. Production was
sufficiently large that the Mexican Government built a mint at Guadalupe y
Calvo in 1844. L.J. Buchanan (1981) estimated historic production at
2,000,000 ounces gold and 28,000,000 ounces silver. Estimated production
grade was 37 g/t gold and 870 g/t silver.
Grid plans to carry out an exploration project on this new property in the
next two months.
Grid is very pleased to be associated with Almaden, a company with a
history of acquiring high quality properties in Mexico, and looks forward
to cooperation with Almaden in the development of the Guadalupe project.
Grid views the Guadalupe project as an exceptional high-grade gold/silver
target and the combined talents of Grid and Almaden will be focused on
exploring this property.
ON BEHALF OF THE BOARD OF DIRECTORS
J.E. (Ted) Charlesworth
President
The TSX Venture Exchange has neither approved nor disapproved of this
press release.
For further information please contact John Watson
604.272.4352 / 1.877.872.4352, by cell at 604.765.5422 or by email at:
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T 1G8,
Canada ph. 604.272-4352 fax: 604.272-4345
$850,000 PRIVATE PLACEMENT WITH
CANACCORD CLOSED
Vancouver, British Columbia, January 12, 2004 - Grid Capital
Corporation (the "Company") (TSXV: GID) has now closed its recently
announced private placement of 4,250,000 units at $0.20 per unit, each
unit consisting of one common share and one-half of one non-transferable
share purchase warrant. Each whole warrant is exercisable into one common
share for a period of one year at an exercise price of $0.25. The shares,
warrants and any shares issued upon exercise of the warrants are subject
to a hold period and may not be traded in British Columbia until May 13,
2004.
Grant of Incentive Stock Options
The Company has, pursuant to its Stock Option Plan approved by
shareholders on July 20, 2003, granted options to directors and
consultants to purchase an aggregate of 450,000 common shares of the
Company at $0.26 per share for a five year period from the date of grant.
ON BEHALF OF THE BOARD OF DIRECTORS
"H. Leo King"
Director
The TSX Venture Exchange has neither approved nor
disapproved of this press release.
For further information please contact John Watson
604.272.4352 / 1.877.872.4352, by cell at 604.765.5422 or by email at:
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GRID CAPITAL CORPORATION
1075 Duchess Avenue, West Vancouver, B. C. V7T
1G8, Canada ph. 604.272-4352 fax: 604.272-4345
$850,000
FINANCING WITH CANACCORD
Vancouver, British Columbia, November 28, 2003 - Grid Capital
Corporation (the ‘Company") (TSXV: GID) is pleased to announce the
engagement of Canaccord Capital Corporation as Agent to carry out a
Private Placement to raise gross proceeds of $850,000.
The Agent has agreed to use its commercially reasonable efforts to
place up to 4,250,000 units at $0.20 per unit. Each Unit will consist of
one common share and one-half of one non-transferable share purchase
warrant. Each whole warrant will be exercisable into one common share for
a period of one year at an exercise price of $0.25.
The Agent will receive an administration fee of $7,000, an 8% cash
commission, half of which may paid in Units, Brokers Warrants equal to 20%
of the offering sold and a Corporate Finance Fee of 100,000 Units. All of
the Agent’s Units will having the same terms as the Units offered. Each
Brokers Warrant will be exercisable into a common share at $0.23 per share
for a period of one year.
The proceeds of this financing will be used primarily for further
exploration of the Company’s Mexican mineral properties and general
working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
"J. E. Charlesworth"
President
The TSX Venture Exchange has neither approved nor disapproved of
this press release.
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For further information please contact John Watson 604.272.4352 /
1.877.872.4352, by cell at 604.765.5422 or by email at:
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