Granite Creek Announces Consolidation

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 10, 2014) - Granite Creek Gold Ltd. (the "Company") (TSX VENTURE:GCX) announces that effective Thursday, December 11, 2014 at market open, the Company will consolidate its common shares on the basis of one (1) new post-consolidation common share for every four (4) pre-consolidation common shares. The Company's common shares will begin trading on a post consolidated basis on the TSX Venture Exchange on December 11, 2014.

As a result of the consolidation, the Company's currently outstanding 23,392,066 common shares will be reduced to approximately 5,848,017 common shares. No fractional shares will be issued. Any fractions of a share will be rounded to the nearest whole number of common shares. The Company's name and trading symbol will remain unchanged. The consolidation was approved by the directors of the Company on November 13, 2014 and accepted by the TSX Venture Exchange on December 10, 2014.

Registered shareholders will be required to exchange their share certificates representing pre- consolidation common shares for new share certificates representing post-consolidation common shares. Registered shareholders will be sent a transmittal letter from the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"), as soon as practicable after the effective date of the consolidation. The letter of transmittal will contain instructions on how certificate(s) representing pre-consolidation shares may be surrendered to Computershare. The transfer agent will forward to each registered shareholder who has provided the required documents a new share certificate representing the number of post-consolidation common shares to which the shareholder is entitled. Until surrendered, each share certificate representing pre-consolidation common shares of the Company will be deemed for all purposes to represent the number of whole post-consolidation common shares to which the holder is entitled as a result of the consolidation.

It is the opinion of the Board of Directors of the Company that the consolidation will facilitate any new equity investment in the Company.

About Granite Creek Gold

Granite Creek is a Vancouver based exploration company in the business of acquiring and carrying out exploration on mineral properties, especially those with precious metals potential, with the goal of establishing a mineable mineral resource. Granite Creek's Malian projects consist of the 94 sq km Niaouleni gold concession on which it has an option to acquire up to a 100% interest; and the 75 sq km Darsalam gold concession on which it has an option to acquire a 100% interest. The Company also holds the, 5611 ha Troitsa Property, a copper/molybdenum/gold/silver property located in central British Columbia, on which it has an option to acquire a 100% interest.

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 regulatory approvals, 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 regulatory 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.