Mr. Arnold Kondrat reports

ARNOLD T. KONDRAT-ACQUISITION OF UNITS

Arnold T. Kondrat has purchased for cash three million units of Gentor Resources Inc. at a price of six cents per unit pursuant to a non-brokered private placement financing closed today by the company. Reference is made to the company's press release dated Aug. 27, 2014, announcing the closing of the financing. Each unit is composed of one common share of the company and one-half of one warrant of the company, with each full warrant entitling the holder to purchase one common share of the company at a price of 7.5 cents for a period of two years.

The three million common shares comprising part of the units represent 3.99 per cent of the currently outstanding common shares of the company, taking into account the completion of the financing. Taking into account the acquisition of such shares, Mr. Kondrat now owns 24,697,500 (or 32.82 per cent) of the outstanding common shares of the company. He also holds 1.5 million warrants, an additional 7.5 million common share purchase warrants of the company (with each such additional warrant entitling the holder to purchase one common share of the company at a price of seven cents until January, 2016) and stock options to buy 500,000 shares granted under the company's stock option plan (with each such stock option entitling the holder to purchase one common share of the company at a price of 15 cents until May, 2019) such that, assuming the exercise of the warrants, the said additional warrants and the said stock options, he would own, on a fully diluted basis, 34,197,500 (or 40.35 per cent) of the outstanding common shares of the company.

Mr. Kondrat acquired the units for investment purposes and may in the future increase or decrease his ownership of securities of the company from time to time depending upon the business and prospects of the company and future market conditions.

Mr. Kondrat is a director and officer of the company. His address is Suite 7070, 1 First Canadian Place, 100 King St. West, Toronto, Ont., M5X 1E3, Canada.