Closing of Second and Final Tranche of Private Placement

Executive Summary

• Gabriel Resources Ltd. completed the second tranche of its non‑brokered private placement, issuing 10,781,571 units at C$0.105 per unit for US $825,000 (≈C$1.16 M).
• The total offering now amounts to 37,441,457 units and gross proceeds of US $2.865 M (≈C $4.0 M).
• Net proceeds will be used for general corporate purposes, notably funding the company’s ongoing ICSID annulment application and critical operational expenses.

Key Details

• Units Issued – Second Tranche: 10,781,571 units at C$0.105 per unit.
• Aggregate Gross Proceeds – Second Tranche: US $825,000 (≈C$1.16 M).
• Unit Composition: Each unit = 1 common share + 1 common‑share purchase warrant.
• Warrant Terms: Exercise price C$0.14 per share; expiry September 12 2030.
• Total Offering Size: 37,441,457 units issued across all tranches.
• Total Gross Proceeds (all tranches): US $2,865,000 (≈C$4.0 M).
• Statutory Hold Period: Four‑month hold on securities expires March 13 2026.
• Closing Conditions: Subject to final TSX Venture Exchange approval.
• Use of Proceeds: General corporate purposes, including costs of the ICSID annulment application and other critical operational expenses; no finders’ fees will be paid.
• Regulatory Notice: Securities not registered under U.S. securities laws; offering not available to U.S. persons except as permitted by exemptions.

Notable Quotes

(No direct quotes from management were included in the release.)