Mr. Ken Booth reports

GITENNES ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Gitennes Exploration Inc. has closed its previously announced non-brokered private placement (see news release dated Sept. 19, 2024) pursuant to which the company issued: (i) 8.3 million common shares in the capital of the company at a price of five cents per hard-dollar share; (ii) two million flow-through common shares in the capital of the company at a price of five cents per flow-through share; and (iii) 1.7 million units at a price of five cents per unit, for aggregate gross proceeds of $600,000.

The units comprising part of the offering were issued pursuant to the listed issuer financing exemption under Part 5A.2 of National Instrument 45-106 (Prospectus Exemptions). Each unit consists of one common share and one common share purchase warrant, each warrant entitling the holder thereof to purchase one common share at an exercise price of 6.5 cents per common share for a period of 24 months from the closing of the offering.

The net proceeds from the sale of the HD shares and the units are intended to be used for general and administrative expenses and working capital purposes, and the gross proceeds from the sale of the FT shares are intended to be used to incur Canadian exploration expenses that will qualify as flow-through mining expenditures (as such terms are defined in the Income Tax Act (Canada)) in relation to the company's mineral projects. The HD shares and the FT shares will be subject to a four-month-and-one-day hold period in Canada while the units issued pursuant to the LIFE exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. The closing of the offering is subject to final acceptance of the TSX Venture Exchange.

About Gitennes Exploration Inc.

Gitennes is in the business of exploring for and advancing mineral properties. The company currently has two properties in the Sept Iles region of Quebec, where the company is exploring for nickel, niobium and tantalum, and three gold properties in the Chapais-Chibougamau area of Quebec: New Mosher, JMW and Maxwell. All properties are 100 per cent owned by Gitennes except for New Mosher, which is under option and in which Gitennes can earn an initial 70 per cent and has the right to increase its ownership to 85 per cent.

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