FORM 13-502F1

CLASS 1 REPORTING ISSUERS – PARTICIPATION FEE

Reporting Issuer Name: GRANDVIEW GOLD INC.                                                                                                                                                       

Fiscal year end date used to calculate capitalization: May 31, 2008                                                                                                                             

Market value of listed or quoted securities:
Total number of securities of a class or series outstanding as at
the issuer's most recent fiscal year end	36,288,765              (i)
Simple average of the closing price of that class or series as of
the last trading day of each month of the fiscal year
(See clauses 2.11(a)(ii)(A) and (B) of the Rule)	$0.50                        (ii)
Market value of class or series	(i) X (ii) =	18,144,382          (A)
(Repeat the above calculation for each class or series of
securities of the reporting issuer that was listed or quoted on a
marketplace in Canada or the United States of America at the
end of the fiscal year)		-                             (B)
Market value of other securities:
(See paragraph 2.11(b) of the Rule) (Provide details of how
value was determined)		-                             (C)
(Repeat for each class or series of securities)		-                             (D)
Capitalization
(Add market value of all classes and series of securities)	(A)+ (B)+(C)+(D) =	18,144,382
Participation Fee
(From Appendix A of the Rule, select the participation fee
beside the capitalization calculated above)		$600.00
New reporting issuer's reduced participation fee, if applicable
(See section 2.6 of the Rule)
Participation fee X Number of entire months remaining
in the issuer's fiscal year                                     =
Late Fee, if applicable
(As determined under section 2.5 of the Rule)