Grid Capital Corporation is a junior mineral exploration company trading on the TSX Venture Exchange under the symbol GID. The company’s objective is to evaluate and acquire properties outright or through joint venture agreements, which have the potential to host multi million ounce deposits. Options properties from Almaden Minerals Ltd.

Grid Capital Corporation     GID   (TSXV)

Galeana Au-Ag Property, Chihuahua. Grid Capital Corporation is pleased to announce the results of a program of geological mapping, rock and soil sampling and induced polarization (I.P.) surveying carried out in April, 2003 on the Galeana gold-silver property in Chihuahua State, Mexico. The Company has an agreement with Almaden Minerals Ltd. whereby its can earn up to a 60% interest in the property.

The Galeana property hosts three major vein systems, the San Miguel-Ahumada-Estrella de Oro, the Falda Norde and the San Geronimo. All have had limited historic production prior to the Mexican revolution when all mining activity ceased.

The Miguel Ahumada zone, consisting of fault breccia, epithermal quartz veining and quartz vein breccia, has been traced for over 500 meters. The zone, where exposed by a number of open cuts, pits and adits, varies from 1 meter to more than 3 meters in thickness. Four grab samples of breccia quartz clastic material found in the Ahumada adit ranged from 1.79 grams/tonne (g/t) gold (Au) and 11.5 g/t silver (Ag) to 15.75 g/t Au and 549 g/t Ag. Four surface samples of quartz float at the east end of the Ahumada structure, 150 meters to the northeast of the eastern-most opening, returned values of up to 9.3 g/t Au and 181 g/t Ag. As well, soil sampling was completed along four lines, spaced 200 meters apart crossing the Ahumada structure. Two anomalous soil samples grading 299 ppb Au and 214 ppb Ag, taken 150 meters to the north of the above-mentioned high-grade quartz float, indicate the presence of an undiscovered auriferous vein and represents a high priority target for follow-up work. Along strike to the southwest of the Ahumada zone, results of soil sampling and quartz vein float sampling has extended the zone 200 meters and indicates the zone is open to the southwest. I.P. surveys carried out over the four lines crossing the Ahumada trend suggest that several parallel veins may be present.

One kilometre north of the Ahumada zone, the Falda Norde structure returned anomalous (7100 ppb) to highly anomalous (greater than 1 g/t) gold values from rock and soils over a 800 meter strike length. The best results were returned from a chip sample taken in the Falda Norde adit across a zone of banded limonitic epithermal veining, vein breccia and clay gouge. The chip sampling assayed an average of 9.18 g/t Au and 46.6 g/t Ag over 0.85 metres.

Approximately 400 meters south of the Falda Norde adit, along the same structural trend, 20 samples were taken from old workings in the Rosario adit and from float located over 500 meters of strike. Nine samples returned values of greater than 100 ppb Au. The highest gold value came from the float boulder of quartz vein breccia that assayed 14.1 g/t Au and 8.9 g/t Ag. Two anomalous gold in soil values, 200 meters east of the Falda Norde trend, indicate the presence of a gold-bearing structure that warrants follow-up work. In addition, I.P. survey results from 2 lines spaced 200 meters apart, crossing the Falda Norde structure, indicate other parallel vein structures may be present.

The San Geronimo structure, located about 1 kilometre southeast of the Ahumada trend, was the centre of significant historic gold production. Three of the five samples taken from well-mineralized but generally narrow structures returned values up to 7.4 g/t Au and 54.3 g/t Ag.

The combined results of soil and rock sampling and I.P. surveys have identified a number of targets that the Company believes warrant drill testing. The Company plans to carry out a drill program to test the most promising targets.

Press Release 6Jun03

Guadalupe y Calvo District, Chihuahua. Also in the Sierra Madre Gold Belt in Mexico. The project surrounds the historic mining town of Guadalupe y Calvo in Chihuahua state, Mexico. Grid views the Guadalupe project as an exceptional high-grade gold/silver target in an area that has historic production of 2 million ounces of gold and 28 million ounces of silver. Initial exploration work on the property is expected to begin in March, 2004. The property was optioned from Almaden Minerals Lid. in February, 2004 allowing Grid to earn up to 60% interest.

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.

wwwInfo 31Dec05