Getchell Gold Corp. Appoints Michael Hobart to Board of Directors

On May 2, 2024 Robert (Bob) Bass of Ontario, Canada acquired, through Bass Research Services Ltd., non-convertible debentures for principal amount of $300,000 (" Debentures ") and 3,000,000 debenture warrants (" Debenture Warrants ") of Getchell Gold Corp. (the " Company ") pursuant to a private placement, representing securities convertible into approximately 2.3% of the Company's issued and outstanding shares on an undiluted basis. Each Debenture Warrant entitles the holder to purchase a common share of the Company at $0.16 per share until May 2, 2027 . 50% of the Debenture Warrants vested on closing of the private placement, and the remaining 50% will vest and be exercisable on July 2, 2025 if the non-convertible debentures are not paid by such date.

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Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (FWB: GGA1) ("Getchell" or the "Company") is pleased to announce that the Company has closed the third and final tranche of its previously announced debenture financing (the " Debenture Financing "). In this third tranche of the Debenture Financing, the Company closed on $1,441,900 aggregate principal amount of non-convertible debentures. As part of the Debenture Financing, the Company issued 14,419,000 warrants (each a " Debenture Warrant "). Each Debenture Warrant entitles the holder to purchase a common share of the Company at $0.10 per share until May 2, 2027 . 50% of the Debenture Warrants vested on closing and the remaining 50% will vest and be exercisable on July 2, 2025 . Combined with the first and second tranches of the Debenture Financing, the Company issued non-convertible debentures in the aggregate principal amount of $4,363,318 and an aggregate of 43,633,180 Debenture Warrants.

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (FWB: GGA1) (" Getchell" or the " Company ") announces that it proposes to extend the expiry dates of an aggregate of 5,202,250 outstanding share purchase warrants, as described below.

The Company issued 3,011,250 warrants with an exercise price of $0.50 pursuant to a private placement of units that closed on May 14, 2021 (the " 2021 Warrants "). The original exercise price of the 2021 Warrants was $0.65 and the exercise price was previously repriced to $0.50 . The original expiry date of the 2021 Warrants was May 14, 2023 , and the expiry date of the 2021 Warrants was previously extended to May 14, 2024 . The Company proposes to extend the expiry date of the 2021 Warrants by an additional 12 months, such that 2021 Warrants will expire on May 14, 2025 . All other terms of the 2021 Warrants remain unchanged.

The Company issued an aggregate of 2,191,000 warrants with an exercise price of $0.60 pursuant to a private placement of units that closed on May 30, 2022 (the " 2022 Warrants "). The original expiry date of the 2022 Warrants was May 30, 2024 . The Company proposes to extend the expiry date of the 2022 Warrants by an additional 12 months, such that 2022 Warrants will expire on May 30, 2025 . All other terms of the 2022 Warrants remain unchanged.

Warrant holders are advised that replacement warrant certificates will not be issued and that the original warrant certificate must be presented to the Company in order to effect the exercise of the warrants.

The Company further announces that it intends to enter into debt settlement agreements with two directors of the Company to settle outstanding bona-fide indebtedness in the aggregate amount of $6,000 in exchange for 54,545 common shares of the Company at a price of $0.11 per share. The amount of indebtedness represents outstanding amounts owing for director services provided to the Company. The Company also proposes to issue common shares to the two directors as monthly payment for director services, issuable on a quarterly basis. All shares issued will be subject to a four-month hold period.

About Getchell Gold Corp.

The Company is a Nevada focused gold and copper exploration company trading on the CSE: GTCH, OTCQB: GGLDF, and FWB: GGA1. Getchell Gold is primarily directing its efforts on its most advanced stage, 100% owned, Fondaway Canyon gold project, a past gold producer with a large mineral resource estimate. Complementing Getchell's asset portfolio are the 100% owned; Dixie Comstock , a past gold producer with a historic resource and two earlier stage exploration projects, Star (Cu-Au-Ag), and Hot Springs Peak (Au) projects. Fondaway Canyon and Dixie Comstock properties are located in Churchill County, Nevada .

For further information please visit the Company's website at www.getchellgold.com or contact the Company at info@getchellgold.com .

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the extension of the 2021 and 2022 Warrants, entering into the debt settlement agreements, and future payment of director fees in common shares. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of Getchell have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE Getchell Gold Corp.

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Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (FWB: GGA1) ("Getchell" or the "Company") is pleased to announce the final tranche of its debenture financing (the " Debenture Financing "). In this third tranche of the Debenture Financing, the Company has subscriptions for $1,441,900 principal amount of non-convertible debentures, for total aggregate funds of $4,363,318 across all tranches of the Debenture Financing. In connection with this closing, the Company will issue 14,419,000 warrants (each a " Debenture Warrant "). Each Debenture Warrant will entitle the holder to purchase a common share of the Company at $0.10 per share for three years. 50% of the Debenture Warrants will vest on closing and the remaining 50% will vest and be exercisable 14 months following closing if the Debenture has not been repaid prior to that vesting date.

Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (FWB: GGA1) (" Getchell " or the " Company ") warmly welcomes Robert (Bob) Bass as a Director and the new Chairman of the Board of Directors.

Mr. Bass is a well-recognized and respected labor relations senior negotiator and spokesperson leading a distinguished career spanning decades. Celebrated as a key figure in his field, Mr. Bass has been instrumental in negotiations and arbitration for a wide array of major public sector entities, including the Metropolitan Toronto School Board, the Ontario Hospital Association, hospitals, police services, universities, nursing homes, and government.

Mr. Bass is an astute investor with a lengthy history and knowledge of investing in mining and mineral exploration. Mr. Bass's increasing ownership position in the Company, highlighted by his recent participation in the Company's debenture financing (Company news release dated Jan. 29, 2024 ), underscores his significant investment and belief in Getchell's ability to successfully advance its Nevada -based Fondaway Canyon Gold project.

Getchell Gold Corp. CEO and previous Chairman, Bill Wagener , expressed his enthusiasm for Mr. Bass's appointment stating, "Bob was one of the founders of Getchell when we started out as a private company. He has been a continuous and longtime supporter, and we are thrilled to welcome him to the helm of Getchell Gold Corp. His leadership, business acumen, and extensive network of contacts are precisely what we need to propel the recognition and valuation of the Company and the Fondaway Canyon Gold project. Bob's talents and dedication speak volumes, and we are confident in his ability to guide Getchell towards greater success."

Upon his appointment, Mr. Bass stated, "I am fully committed to take on the role of Chairman at Getchell Gold Corp. and motivated by the immense potential of the Fondaway Canyon Gold project, located in the world-class mining jurisdiction of Nevada . I believe that with our combined efforts, we can unlock great value for the Company and our shareholders. My confidence in this venture is unwavering, and I look forward to guiding the Company towards achieving its strategic goals."

In addition to Mr. Bass' appointment, the Company is pleased to welcome his son, Chris Bass , to its Board of Directors. Chris is a seasoned entrepreneur with significant experience in healthcare. He currently serves as the CEO of InventoRR MD Inc., where he has been pivotal in the development and success of the company's revolutionary flagship medical device, AbClo. These leadership changes underscore Getchell's commitment to continuous improvement and strong corporate governance, positioning the Company for long-term success.

In connection with the Director appointments, the Company has granted 1,000,000 stock options to Directors under the Company's 2022 stock option plan. Each option is exercisable into one common share of the Company at a price of $0.15 per share for a period of 5 years from the date of grant. Additionally, the Company has granted its investor relations consultant, Fred Cooper , 250,000 stock options on the same terms.

With the addition of Bob and Chris Bass , the Directors, Officers, and Management of Getchell Gold Corp. now own 20.4% of the Company on a partially-diluted basis.

In light of these new additions, Jim Mustard has resigned as a Director to the Company and will assume the role as an advisor and consultant to the Company. Jim is a well-respected capital markets and mining professional and the Company welcomes his continued contribution. In addition, Jerry Bella has resigned as a Director to the Company. The Company thanks Jerry for his efforts and wishes him the best in his future endeavours.

The Company further announces that it intends to enter into a debt settlement agreement with a bona-fide creditor of the Company to settle outstanding indebtedness in the aggregate amount of $3,000 (the "Debt") in exchange for the issuance of 23,100 common shares of the Company (the "Shares") at a price of $0.13 per Share. The Shares issued by the Company will be subject to a four-month hold period and the Debt settlement remains subject to Canadian Securities Exchange acceptance.

The Company is a Nevada -focused gold and copper exploration company trading on the CSE: GTCH, OTCQB: GGLDF, and FWB: GGA1. Getchell Gold is primarily directing its efforts on its most advanced stage, 100% owned, Fondaway Canyon gold project, a past gold producer with a large mineral resource estimate. Complementing Getchell's asset portfolio are the 100% owned; Dixie Comstock , a past gold producer with a historic resource and two earlier stage exploration projects, Star (Cu-Au-Ag), and Hot Springs Peak (Au) projects. Fondaway Canyon and Dixie Comstock properties are located in Churchill County, Nevada .

For further information please visit the Company's website at www.getchellgold.com or contact the Company at info@getchellgold.com .

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the impact of Board changes on the Company's future success. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of Getchell have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE Getchell Gold Corp.

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