Granite Creek Reports on its Annual General Meeting, New Director, Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Jan. 3, 2013) - Granite Creek Gold Ltd. (the "Company") (TSX VENTURE:GCX) is pleased to report that the Company held its Annual General Meeting on December 20, 2012, at which time Timothy Johnson, Keon Kwan, Willis W. Osborne, Stephen Soby and James Glass were re-elected to the Company's Board of Directors.

Shareholders approved the Company's Stock Option Plan, pursuant to which the directors may, from time to time, authorize the issuance of options to directors, officers, employees and consultants of the Company to a maximum of 10% of the issued and outstanding common shares at the time of the grant with a maximum of 5% of the Company's issued and outstanding shares being reserved to any one person. MacKay LLP was appointed as auditors for the ensuing year.

Subsequent to the Annual General Meeting, the Board of Directors appointed Messrs. Kwan, Soby and Glass to the audit committee and the following persons were appointed as officers: Timothy Johnson as President and Chief Executive Officer, Keon Kwan as Chief Financial Officer and Jennifer Nestoruk as Secretary.

The Company is also very pleased to report that Mamadou Keita has agreed to join the Company's Board of Directors. Mr. Keita received his Ingenieur Degré (Geology) from the National School of Ingenieurs (Mali) in 1969 and his M.Sc. (Minera) from the Mining Institute of Petersburg (Russia) in 1978. From 1978 to 1983, he was a Chief Geologist for the Bureau de Recherches Geologiques et Minieres, an agency of the French Government, heading a regional survey for gold and diamonds in Western Mali. It was during this survey that the initial discovery of the Loulo gold deposit was made. From 1985 to 1991, Mr. Keita was the Chief Geologist of the Kenieba Region for the Direction Nationale de la Geologie et des Mines of the Malian Ministere des Mines. From 1998 to 2011 he acted as director and VP of exploration for Great Quest Metals Ltd. Mr. Keita oversaw the acquisition and assisted in the development of the Great Quest's gold concessions including the Kenieba concession, where a NI 43-101 compliant inferred resource of 324,000 ounces of gold (Carl Verley, P. Geo) was delineated by Great Quest Metals (January 8, 2008 Great Quest Metals press release) before the project was sold to Avion Gold Corporation.

The Board has approved the granting of stock options to a Director and two consultants for the purchase of up to 225,000 common shares of the Company's capital stock for a period of five years at a price of $0.10 per share in accordance with the Company's Stock Option Plan and subject to regulatory approval.


About Granite Creek Gold

Granite Creek Gold is a Vancouver BC based exploration company with an advanced staged British Columbia project, the 2781 ha copper-gold-molybdenum "Taseko" Property. The Company has an option to acquire a 70% interest in the property which hosts a non- NI 43-101 compliant historical resource. The project lies within 25km south of Taseko Mines' advanced stage copper-gold Prosperity project.

The Company also has an option to acquire a 100% interest in the Koussikoto Ouest concession in West Africa. The Company intends to continue to evaluate Malian projects and is relying on directors Willis Osborne and Mamadou Kieta for their vast experience working in the country especially in the highly prospective Birimian.


This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the expected listing of shares, Exchange approvals, the use of proceeds, exploration programs, and other future plans, objectives or expectations of the Company 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 plans or expectations include the Company's ability to obtain Exchange approval and to complete its exploration programs on schedule and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contact

Granite Creek Gold Ltd.
Timothy Johnson, President
604-569-2430
604-569-2414 (FAX)
info@granitecreekgold.com
www.granitecreekgold.com