Mr. Dragos Tanase reports

GABRIEL RESOURCES LTD. EXERCISE OF WARRANTS

A total of 871,400 outstanding warrants to purchase common shares of Gabriel Resources Ltd. at a price of 39 cents per share (each a 2020 warrant) have been exercised for cash. The company has received consideration of $339,846 in respect of those 2020 warrants exercised.

Gabriel has the following securities outstanding:

• 1,035,976,840 common shares;
• 25,723,372 warrants which are exercisable at a price of 49 cents and expire on Jan. 15, 2024;
• 76,504,263 warrants which are exercisable at a price of 64.5 cents and expire on Aug. 23, 2024;
• 5,225,970 warrants which are exercisable at a price of 64.5 cents and expire on Sept. 13, 2024.

About Gabriel Resources Ltd.

Gabriel is a Canadian resource company listed on the TSX Venture Exchange. The company's principal business had been the exploration and development of the Rosia Montana gold and silver project in Romania. The Rosia Montana project, one of the largest undeveloped gold deposits in Europe, is situated in the South Apuseni Mountains of Transylvania, Romania, a historic and prolific mining district that since pre-Roman times has been mined intermittently for over 2,000 years. The exploitation licence for the Rosia Montana project is 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.

We seek Safe Harbor.