Interview with: A. Paul Gill, President and CEO - featuring: their gold, silver and copper assets in Peru and Ecuador.

Grenville Gold Corporation (GVG-TSXV) (GVLGF-OTCBB) (F9I – Berlin)

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Grenville Gold is focused in Ecuador and Peru where there are great prospects for developing gold, silver and copper mines

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(F9I – Berlin)

Grenville Gold Corporation

Suite 207, 475 Howe Street
Vancouver BC Canada V6C 2B3
Phone: 604-669-8842

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A. Paul Gill
President and CEO

Interview conducted by:
Lynn Fosse, Senior Editor
Published - February 1, 2007

A. Paul Gill

President, Director

Mr. Gill developed significant experience in the strategic development of resource companies such as Norsemont Mining Inc. and Lomiko Resources. He has held the positions of President, Chief Financial Officer, Corporate Secretary and Vice-President of Business Development of Norsemont Mining Inc. and was also a co-founding director with Mr. De Melt.

Company Profile:

Grenville Gold Corporation (TSX Venture: GVG) is a mining and exploration company developing gold, silver and copper assets in Peru and Ecuador. Our mission is to acquire majority interests in advanced exploration projects in South America that have previous exploration data and/or extremely strong evidence of economic grades of mineralization. We create value for our shareholders by cost-effectively bringing prospective properties up to National Instrument 43-101 compliant resource standards.

Our exploration and acquisition office in Lima, Peru has been a hub of mineral property acquisition for over ten years, and has been instrumental in the development of some of the richest ore-bodies in the country. Your new management team is committed to advancing these properties efficiently while continuously evaluating new prospects brought to us by regional prospectors.

: Mr. Gill, Grenville Gold is a reorganized entity; tell us why you are with the company and about your vision?
Mr. Gill: “My vision with Grenville is a company that has assets in different parts of the world and in the best parts of the world for gold, silver and copper. That is our primary area of interest and why we are in Ecuador, where there is an excellent opportunity to develop gold prospects. We are in Peru where there is an excellent opportunity to develop copper and silver prospects. We recently put out a news release in regards to sticking 80 thousand Hectares in Ecuador with our joint venture partner.”

CEOCFO: What do you look for in a property?
Mr. Gill: “The main thing to look for is an area that we have some concept that there is potential for a large disseminated deposit. When you are in resource mining and in a junior resource situation, what you want to look for is something that will give you the ultimate blue sky. That is why our projects are focused on getting in there with a low cost, making sure we have it open ended and make sure we can develop it down the line.”

CEOCFO: What do like about Ecuador and Peru for your exploration?
Mr. Gill: “What I like about Peru is that it is now on its second term with a stable government. It has all of the fantastic geology that Chile has and the potential to go fifty years with development and infrastructure upgrades without political upheaval. I think that is the advantage of Peru, fantastic geology, stable environment and they really want to attract investment and that is what corporations like for long-term success. With Ecuador, I think they have gone through the process of developing the country to a point where they can attract investments and they have had major discoveries in that area. IAMGOLD Corporation (IAG) in Ecuador has a deposit with 2.8 million ounces on it of gold. Aurelian Resources Inc. has had a fantastic discovery in the southern part of Ecuador and in the area that we have announced the Rio de Oro acquisitions - the Portovelo-Zaruma regions – there has been 4.5 million ounces of gold pulled out of the ground. Therefore, there are substantial size deposits (in Ecuador) and I think that potential fits right into our plans.”

CEOCFO: You mentioned a joint partner in the Ecuador venture; do you partner for most of your projects?
Mr. Gill: “We have several different projects in Ecuador. The one very interesting project is the La Tigrera gold project. That has a defined pre-43-101 report of about 700 thousand ounces of gold based on a historical estimate by an Australian company called Climax Mining. We try to garner 100% of these kinds of properties. What we do with large-scale areas like the 80,000 Hectares of the Rio de Oro Project is to have other companies get involved. Our current joint venture partner gives us an opportunity to share costs. If they cannot raise the money, we will kick in extra and be able to buy the portion back or vice versa depending on how things go. We are able to have options with other joint venture partners and that is the key for any public company is always planning for contingencies. It is also a way of mitigating risk. We know this is a risky business; we want to make sure we have plenty of options out there so we can manage risk to our shareholders and the company.”

CEOCFO: Development is very expensive; how are you funded?
Mr. Gill: “Right now, we have about $1.1 million Cdn in the bank. We have 21 million shares issued and 32 million fully diluted. If we were to get the extra money in from warrants, it would be another $1.5 million. Currently the actual float is 15 million shares and we think that is very small. We have the potential, with the different projects, of financing again at a premium. We are always talking to investors and always interested in talking to people that have an interest in investing in these countries.”

CEOCFO: What is the timetable going forward to get started with these projects?
Mr. Gill: “We hope to be on the ground and sampling in the next few weeks in Peru. We are still in the process of acquiring different land packages in and around Ecuador and certainly other packages around Peru. We are still in the acquisition and growth phase as opposed to getting into full term exploration, but we soon hope to be out there exploring, discovering targets and looking at a drill program.”

CEOCFO: Many people are looking for projects at a good price; what separates you and enables you to see the potential that others may not?
Mr. Gill: “That leads to management and what our management has that others might not. Len DeMelt is running our Peru operation and he has ten years of experience in Peru and 30 years of experience in the mining industry. He has opened 6 different mines and participated in different levels of mine management, so he is well experienced. He went to Peru and fell in love with Peru because of the geology there. He is down there now and he is down there constantly always looking for properties. He has been able to build a team that has the ability to acquire property in different parts of the country. We have lots of good information coming from Peru and we are able to use that for find the best property. The same applies to Ecuador; one of the reasons we are happy to have our CFO, Stephen Brown on board is because he brings that expertise; like Len in Peru, he brings the same expertise to the company in Ecuador. What he has is experience in talking to the local people there. He has worked with different people that have developed mines in Ecuador. He has also talked to government, governmental agencies and he is well respected in that country. We need that kind of person because that is how you get the best information on which areas are the most prospective."

CEOCFO: It sounds as if you put the company together and you are ready to rollout and do it!
Mr. Gill: “Absolutely! When I came aboard with this company, I first came on as a director in October (2006) and the whole concept was very new. What they were able to show me is that they had a plan to acquire properties, raise money and talk to shareholders to make sure they understood what the potential of the company was. I knew could fill a valuable roll communicating that to the entire team and to all of the shareholders. We are committed to making this company a very good investment for our shareholders.”

CEOCFO: Where does the commodities price cycle fit in for Grenville?
Mr. Gill: “Many analysts tend to view the commodities cycle as something that stops and starts on a dime and it is not something that happens that way. Gold has gone for a bit of a sideways movement in the latter half of 2006 and I think that there have been all kinds of predictions for it to go to $700, but I do not think anyone was predicting that it would go to $500. We think going forward that gold is a very good investment and the way to do it is to leverage that investment by getting into the junior mining companies that you can buy for inexpensive prices and be able to leverage those as their deposits grow. Silver has not has its full run in a long time. It has had a good year in 2006 and we anticipate it will have another decent year in 2007. It has many industrial uses that have yet to be adopted, it is much cheaper than gold, but has some similar conductive properties, so that has serious potential in industry and there will be many different uses for silver. The base metals used in production, molybdenum, copper, zinc and cobalt are all in great demand. You have fluctuations form time to time. When prices were really sky rocketing in copper, there was a news story that some companies in the U.S. were switching to plastic piping; that may be the case for a short term softening of copper prices. Copper has come off considerably and a lot of that was due to people covering their losing option trades and getting out of the trade. Things look good going forward with the kind of demand that is out there, the Asian market and the kind of development that is happening worldwide. The middle class is growing around the world and developing countries are coming on line with China and Asia. You are going to see a lot of demand for base metals such as copper, zinc as well as gold and silver. All of these new folks in the middle class have to get married and have their cars, houses along with the silverware and gold used as part of their marriage ceremonies. Therefore, we see a long run for commodities.”

CEOCFO: Why should investors be interested in Grenville and what might there be that people don’t realize about the company?
Mr. Gill: “The reason I came to Grenville is that I saw the potential. I was involved in a company called Norsemont Mining I for a long time and we saw the company develop from 25 or 30 cents to a $4.00 stock and develop a fantastic copper asset in Peru. We know what Peru can do. Peru can make companies and that is why we are there. Ecuador can make companies and that is why we are there. My vision for Grenville is a company that has great gold, silver and copper assets in the most prospective mining areas in the world. That is our primary focus. We are in Peru where there is an excellent opportunity to develop copper and silver prospects. We are in Ecuador where there is an excellent opportunity to develop gold prospects. Our management team is motivated and will build on past success.”


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“My vision for Grenville is a company that has great gold, silver and copper assets in the most prospective mining areas in the world. That is our primary focus. We are in Peru where there is an excellent opportunity to develop copper and silver prospects. We are in Ecuador where there is an excellent opportunity to develop gold prospects. Our management team is motivated and will build on past success.” - A. Paul Gill does not purchase or make
recommendation on stocks based on the interviews published.