Mr. Brian Skanderbeg reports

GFG ISSUES SHARES TO IEP PURSUANT TO WWCC GOLD PROPERTY OPTION AGREEMENT

GFG Resources Inc. has issued shares pursuant to the previously announced option agreement with International Explorers and Prospectors Inc. whereby GFG Resources can acquire a 100-per-cent interest of the WWCC property, located 40 kilometres east of Timmins, Ont.

Pursuant to the agreement, GFG Resources issued a total of 2.5 million common shares of the company to IEP on April 12, 2024, at a deemed value of eight cents per common share based on the volume-weighted average price for the five previous trading days. The common shares issued will have a statutory hold period of four months and one day from the date of issuance.

About GFG Resources Inc.

GFG Resources is a North American precious metal exploration company focused on district-scale gold projects in Tier 1 mining jurisdictions Ontario and Wyoming. In Ontario, the company operates three gold projects, each large and highly prospective gold properties within the prolific gold district of Timmins, Ont., Canada. The projects have similar geological settings that host most of the gold deposits found in the Timmins gold camp, which have produced over 70 million ounces of gold. The company also owns 100 per cent of the Rattlesnake Hills gold project, a district-scale gold exploration project located approximately 100 kilometres southwest of Casper, Wyo., United States.

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