DGAP-News: GRIT International Inc.: SIGNS AGREEMENTS TO ACQUIRE NEW MINERAL PROJECTS

DGAP-News: GRIT International Inc. / Key word(s): Agreement
GRIT International Inc.: SIGNS AGREEMENTS TO ACQUIRE NEW MINERAL
PROJECTS

12.10.2010 / 12:00

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Corporate Press Release

Tuesday, October 12th, 2010

12.00pm Central European Summer Time

PRESS RELEASE

GRIT INTERNATIONAL INC. – SIGNS AGREEMENTS TO ACQUIRE NEW MINERAL PROJECTS

GRANDE PRAIRIE, AB, Tuesday, October 12th, 2010: GRIT INTERNATIONAL
(3GR1:F) is pleased to announce its agreement with BCT Mining of Vancouver
BC Canada to acquire several gold and other mineral projects in Canada,
Africa and South America. BCT will be a joint venture partner and will also
function as project manager and operator. The company has already begun to
review a large 4600 hectare project in Canada that has shown to have 2
ounces of gold per ton of ore. The company is eager to begin further
exploration work as it prepares to begin mining this spring. GRIT MINERALS
expects to acquire a minimum of 24 new leases in Canada by the end of the
year as it works toward its target of having 250 substantial Canadian
leases in development, joint venture and full production. Many of these
Canadian leases are high grade gold deposits with anywhere from 20,000
ounces to 150,000 ounces of gold depending of course on the size of the
lease and ease of access. Two of our planned projects already have 43-101
compliant work completed; these documents noted considerable mineral
content including both gold and cobalt. This property is expected to hold a
minimum of 20,000 tonnes of material resulting in 23grams of gold per
tonne. The mineralized structure has also been traced for a length of 300
metres and over a vertical extent of 160 metres and most of this structure
has not been tested. The Canadian properties offer GRIT MINERALS the
advantage of working in a mining friendly environment along with a stable
economic and political atmosphere. Canada will be a consistent location for
the company with a minimum of 50 years of exploration and production work
ahead.

Other projects located in Africa have demonstrated immense potential with
one property in particular showing 1,000,000 ounces of gold based on
preliminary testing, historical results and production along the same
formation. The over-all cost to GRIT MINERALS to put this project into
production is $5,000,000 USD. Permits are already in place and BCT is ready
to begin work once funding is in place. With favourable weather being a
part of the climate, GRIT expects to mine this lease 12 months each year.
We also expect to uncover additional opportunities at and around this
location so we look forward to seeing these results. GRIT MINERALS will
begin work at this location within 6 weeks and additional testing will be
completed. If the anticipated results are proved out, the value of this
lease could be in the (Gold:$1,353.00US/oz) $1,350,000,000 USD

GRIT MINERALS geologists have arrived in Tanzania on October 11th in order
to survey another lease which offers the company very exciting
opportunities. GRIT expects to see test results come back shortly and the
company is hoping to see reserves stated in the 200,000 ounce range. GRIT
MINERALS has made this project a priority and expects additional
exploration work to begin on the property within 4 weeks. The initial
exploration budget to begin development is $500,000USD with a production
budget in the $2,000,000 range.

The company is very excited and looks forward to reviewing 6 additional
properties now being discussed with our partners. Ecuador is another very
prolific area, the company has already selected leases and has begun
negotiations for the joint venture development of an area expected to
produce 500,000 ounces of gold. This would put reserve estimates to be in
the $675,000,000 range, but more firm numbers will be established once
exploration has begun and 43-101 compliant documents are completed. The
company expects to make further announcements shortly.

Expected 1,500,000 ounces of gold, todays value of $1,350.00 US, placing
reserves estimates over $2.0 Billion US; GRIT shareholder value of>
$15.00
US per share.

GRIT International President Lawrence Zeiben stated: –This is a big step
for Grit as we–ve managed to progress quickly toward our goal of
establishing a significant asset base in minerals. We are also pleased with
our partners and operators and we look forward to getting production
underway.–

ABOUT

GRIT INTERNATIONAL INC

GRIT International is a Canadian based company registered in the State of
Nevada, US; -Diversified Industrial Services Company, offering Support
Services, Utilities, Oil&Gas and Mineral holdings. The businesses that
make up GRIT INTL – Integrate amongst each other providing a present
revenue from the energy industry and also seeks out Environmentally
Sustainable solutions in nuclear energy, renewable resources in bio-waste
and other alternative fuels available at present time. GRIT foresees
expanding its divisions from an international to that of a Global services
provider. For more information please visit the company–s website at
www.gritintl.com

Safe Harbor Statement; under the Private Securities Litigation Reform Act
of 1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays
beyond the company–s control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company–s filings with the
Securities and Exchange Commission.

###

Contact: GRIT International Inc.,

Investors Relations

Website: www.gritintl.com;

E-mail: grit-admin@gritintl.com

P : 780.513.1125

F : 780.814.5584

A : Suite 201, 9914 – 109th Avenue, Grande Prairie, AB, T8V 1R7

Investors Relations – German

Mr. James Stewart

P: 49 2161 49694870

E: jstewart@gritintl.com

End of Corporate News

12.10.2010 Dissemination of a Corporate News, transmitted by DGAP – a
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