Gabriel completes $2.04M (U.S.) closing of placement

Mr. Dragos Tanase reports INITIAL CLOSING OF PRIVATE PLACEMENT Gabriel Resources Ltd. has completed an initial closing of its previously announced non-brokered private placement of up to 37,441,457 units of the company at a price of 10.5 cents per unit. For more information on the offering, please see the company's press releases dated Aug. 29, 2025, and Sept. 2, 2025, which are available under the company's SEDAR+ profile. Pursuant to the initial closing, the company has issued a total of 26,659,886 units for aggregate gross proceeds of $2.04-million (U.S.) (approximately $2.8-million). Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share in the capital of the company for a period of five years from the date of closing of the offering at an exercise price of 14 cents per common share. The securities issued in connection with the initial closing are subject to a statutory four-month hold period, which will expire on Jan. 13, 2026. Completion of the offering is subject to receipt of final approval of the TSX Venture Exchange. The company intends to complete additional closings of the offering during the course of September, 2025. The net proceeds of the offering will be used for general corporate purposes, including, without limitation, the costs and expenses of pursuing the company's ICSID annulment application and for critical operational expenses. The company will not pay any finders' fees in respect of the procurement of arm's-length subscribers in connection with the offering. About Gabriel Resources Ltd. Gabriel is a Canadian resource company listed on the TSX Venture Exchange. The company's principal business has been the exploration and development of the Rosia Montana gold and silver project in Romania, one of the largest undeveloped gold deposits in Europe. Upon obtaining the licence in June, 1999, the group focused substantially all of its management and financial resources on the exploration, feasibility and subsequent development of the Rosia Montana project. An extension of the exploitation licence for the Rosia Montana project (held by Rosia Montana Gold Corp. SA, a Romanian company in which Gabriel owns an 80.69-per-cent equity interest, with the 19.31-per-cent balance held by Minvest Rosia Montana SA, a Romanian state-owned mining company) was rejected by the competent authority in late June, 2024. We seek Safe Harbor.