Gabriel Resources Limited - Results of AGM

LONDON, August 3, 2022 - Gabriel Resources Ltd. ("Gabriel" or the "Company") announces that all of the matters submitted to shareholders for approval, as set out in the Company's Management Information Circular dated June 28, 2022 ("Circular"), were approved by the requisite majority of votes cast at its annual general and special meeting ("Meeting") held in Vancouver, British Columbia, earlier today, including resolutions:

• Re-electing Dag Cramer, Ali Erfan, Dan Kochav, Anna El-Erian, James Lieber, Jeffrey Couch and Dragos Tanase as directors of the Company;
• Re-appointing PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year and authorizing the directors of the Company to fix its remuneration; and
• Approving certain amendments to the incentive stock option plan of the Company (the "Option Plan").

The amendments to the Option Plan remain subject to the final approval of the TSX Venture Exchange.

For further details regarding the matters approved at the Meeting, please see a copy of the Circular, which is available on the Company's SEDAR profile at www.sedar.com or its website at www.gabrielresources.com.

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Gabriel

Gabriel is a Canadian resource company listed on the TSX Venture Exchange. The Company's principal business had been the exploration and development of the Ro?ia Montan? gold and silver project in Romania. The Ro?ia Montan? Project, one of the largest undeveloped gold deposits in Europe, is situated in the South Apuseni Mountains of Transylvania, Romania, an historic and prolific mining district that since pre-Roman times has been mined intermittently for over 2,000 years. The exploitation license for the Ro?ia Montan? Project is held by Ro?ia Montan? Gold Corporation S.A., a Romanian company in which Gabriel owns an 80.69% equity interest, with the 19.31% balance held by Minvest Ro?ia Montan? S.A., a Romanian state-owned mining company.

Upon obtaining the License in June 1999, the Group focused substantially all of their management and financial resources on the exploration, feasibility and subsequent development of the Ro?ia Montan? Project. Despite the Company's fulfilment of its legal obligations and its development of the Ro?ia Montan? Project as a high-quality, sustainable and environmentally-responsible mining project, using best available techniques, Romania has unlawfully blocked and prevented implementation of the Ro?ia Montan? Project without due process and without compensation. Accordingly, the Company's current core focus is the ICSID Arbitration. For more information investors are urged to read the Company's filings with Canadian securities regulatory agencies which can be viewed online at www.sedar.com, or please visit the Company's website at www.gabrielresources.com.

SOURCE: Gabriel Resources Ltd.