Mr. David Kelsch reports

GGL RESOURCES CORP. CLOSES INITIAL TRANCHE OF PRIVATE PLACEMENT

GGL Resources Corp. has closed the initial tranche of the non-brokered private placement offering originally announced on Feb. 13, 2024. The initial tranche consisted of the sale of 3.2 million common shares at a price of five cents per share for gross proceeds of $160,000.

The following insiders of GGL participated in this private placement:

1. Matthew Turner, a director of GGL, subscribed for 100,000 shares.
2. Strategic Metals Ltd., a reporting issuer listed on Tier 1 of the TSX Venture Exchange and GGL's largest shareholder, subscribed for two million shares.
3. Dave Kelsch Consulting Ltd., a company controlled by Dave Kelsch, the president, chief operating officer and a director of GGL, subscribed for 100,000 shares.

As required by the TSX Venture Exchange, GGL will be seeking disinterested shareholder approval at its upcoming annual general and special meeting for the subscription by ECEE Money Ltd., a private company controlled by W. Douglas Eaton, the chief executive officer and a director of GGL, for 2.8 million shares.

The participation of the insiders listed above constituted a related party transaction within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. GGL has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) in respect of the related party participation in the private placement, as the fair market value (as determined under MI 61-101) of the subject matter of, or the fair market value of the consideration for, the transaction, in relation to each insider disclosed above, did not represent more than 25 per cent of GGL's market capitalization (as determined under MI 61-101).

All of the securities issued pursuant to the initial closing are subject to a hold period in Canada until July 28, 2024. The proceeds from the offering will be used for exploration and development activities at GGL's Gold Point project in the Walker Lane trend of western Nevada and for general working capital purposes.

About GGL Resources Corp.

GGL is a seasoned, Canadian-based junior exploration company, focused on the exploration and advancement of under evaluated mineral assets in politically stable, mining-friendly jurisdictions. GGL has optioned and wholly owns claims in the Gold Point district of the prolific Walker Lane trend, Nevada. The Gold Point claims cover several gold-silver veins, four of which host past-producing high-grade mines, and an exciting new porphyry discovery. GGL also owns the McConnell project, which hosts epithermal gold veins and an underexplored porphyry copper-gold prospect in the Kemess district of north-central British Columbia. GGL also holds diamond royalties on mineral leases adjacent to the Gahcho Kue diamond mine in the Northwest Territories.

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