Getchell repays full $275,430 of remaining debentures

Executive Summary

• Getchell Gold Corp. has fully extinguished all remaining outstanding debentures, paying $119,691 in cash for principal and accrued interest and issuing common shares via warrant exercise for the remainder.
• The company announced the resignation of Vice-President of Exploration Scott Frostad and the appointment of Patrick McLaughlin as Senior Project Geologist and Qualified Person.
• The settlement concludes a previous conversion event where the majority of debentures were converted into units in June 2025.

Key Details

• Debt Settlement Structure:
  • Total remaining principal settled: $275,430.
  • Cash Payment: $119,691 paid on Aug. 22, 2025, consisting of $70,000 in principal and $49,691 in accrued interest.
  • Equity Conversion: $205,430 of principal was applied to the exercise of 2,054,300 previously issued debenture warrants.
  • Share Issuance: 2,054,300 common shares issued at a price of $0.10 per share.
• Previous Context:
  • In June 2025, debentures with an aggregate principal amount of $4,087,888 and accrued interest of $613,794.20 were converted into 23,508,412 units.
  • The Aug. 22 settlement represents the final extinguishment of the remaining debt.
• Management Changes:
  • Resignation: Scott Frostad resigned as Vice-President of Exploration. He served for four years and contributed to the Fondaway Canyon gold project.
  • Appointment: Patrick McLaughlin, BSc, PGeo, appointed as Senior Project Geologist and Qualified Person.
  • McLaughlin Background: Over 20 years of mineral exploration experience; partner in Coast Mountain Geological Ltd.; BSc (Honours) from University of Manitoba (2005); member of APEGBC and APEGO.
  • Strategic Impact: McLaughlin’s appointment is expected to ensure seamless transition for the 2025 drill program at the Fondaway Canyon project.

Notable Quotes

• "Mr. McLaughlin is a highly experienced project manager and well versed in the geological setting and gold mineralization system at Fondaway Canyon. With solid groundwork previously established and a defined exploration plan, I anticipate a seamless transition for the 2025 drill program," states Mike Sieb, president, Getchell Gold.