Second Closing of US$3.4 Million Private Placement

Gabriel Resources Ltd. announced the second closing of its non-brokered private placement on October 27, 2026. The company issued 3,181,552 units to eligible investors, specifically clients of Swiss Capital S.A., generating gross cash proceeds of US$185,000.

Total units issued under the offering to date stand at 43,090,848 units. Total subscriptions amount to approximately US$2.51 million, comprising US$930,634 in cash and US$1,575,000 from bridge-debt settlement. Each unit consists of one common share and one common share purchase warrant. The warrants carry an exercise price of C$0.11 and expire on October 16, 2031.

The company stated that the proceeds will be used to fund working capital, sustain essential operations, and continue the application to annul the ICSID arbitration award rendered on March 8, 2024. There remain 15,380,909 units available for closing, representing approximately US$894,365 in subscriptions.

Securities are subject to a statutory Canadian hold period of four months and one day, expiring on February 28, 2027. Gabriel Resources has received conditional acceptance from the TSX Venture Exchange, with final acceptance pending.

Gabriel Resources Ltd. (GBU) announced a follow-up to its October 2, 2026 financing announcement and the subsequent initial closing on October 16, 2026. This transaction represents an incremental step in a multi-tranche capital raise. The cash component of this specific closing was minimal, totaling US$185,000, which does not materially alter the company's severe liquidity position.

The financing is aimed at covering immediate working capital and legal costs associated with the ICSID annulment application. The offering did not introduce new strategic partnerships, operational milestones, or positive catalysts. The dilutive nature of the offering and the reliance on debt-for-equity swaps highlight ongoing financial distress.

Gabriel Resources Ltd. is a Canadian mining company focused on the Roșia Montană gold-silver project in Romania. The company has no active operations or revenue generation, maintaining a severely curtailed footprint. Development is entirely stalled due to protracted legal battles, regulatory hurdles, and the ICSID arbitration against the Romanian government. The company's primary activity is now legal defense and asset preservation rather than exploration or development.