Mr. Jordan Potts reports

GITENNES ARRANGES PRIVATE PLACEMENT FOR UP TO $1.5 MILLION

Gitennes Exploration Inc. has arranged a non-brokered private placement of up to five million units of the company at a price of 30 cents per unit for aggregate gross proceeds of up to $1.5-million. Each unit will consist of one common share and one-half common share purchase warrant, with each full warrant being exercisable to purchase one common share at a price of 40 cents for 12 months from the date of issuance.

The private placement is expected to close on or about Dec. 20, 2024.

The company may pay finders' fees to eligible finders, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The private placement is subject to the approval of the TSX-V, and all securities issued under the private placement will be subject to a statutory hold period expiring four months and one day from the date of closing of the private placement.

The company intends to use the net proceeds of this financing for exploration, evaluation of potential new resource projects, general and administrative expenses, which will include funds for marketing and investor relations, and cash for working capital.

Acceleration clause

If, at any time after the date of issuance of the warrant, the closing price of the company's common shares on the TSX-V (or such other stock exchange on which the common shares may be traded from time to time) is at or above 55 cents per share for a period of 10 consecutive trading days, the company may, within five days of the triggering event, accelerate the expiry date of the warrants by giving notice thereof to the holders of the warrants, by way of news release, and in such case, the warrants will expire on the first day that is 30 calendar days after the date on which such notice is given by the company announcing the triggering event and all rights of holders of such warrants shall be terminated without any compensation to such holder.

About Gitennes Exploration Inc.

The company currently has two properties in the Sept-Iles region of Quebec, where it 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 an option agreement, whereby Gitennes can earn an initial 70 per cent and has the right to increase its ownership to 85 per cent.