Mr. William Wagener reports

GETCHELL GOLD CORP. CLOSES SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Getchell Gold Corp. has closed the second tranche of its previously announced non-brokered private placement offering by issuing 638,000 units at a price of 20 cents per unit for aggregate gross proceeds of $127,600. Together with the first tranche of the offering, the company issued an aggregate of 4,925,500 units for gross proceeds of $985,100.

Each unit consists of one common share and one-half of one warrant of the company. Each warrant entitles the holder to acquire one additional common share at a price of 35 cents per share for a period of two years from the date of closing.

The proceeds from the private placement will be used for exploration and development of the company's properties and general working capital.

In connection with the second tranche, the company paid finders' fees in the amount of $4,800 and issued an aggregate of 24,000 finders' warrants. Each finder's warrant entitles the holder to acquire one additional common share of the company at a price of 35 cents per share for a period of two years from the date of closing.

The securities to be issued in connection with the second tranche are subject to a statutory four-month hold period expiring on Nov. 15, 2023, in accordance with applicable securities laws.

One officer of the company participated in the second tranche in the amount of $27,600. The transaction with the officer, who is an insider of the company, constitutes a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions under Section 5.5(a) and Section 5.7(1)(a) from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the units issued to the related party and the consideration paid by the related party under the second tranche does not exceed 25 per cent of company's market capitalization, as determined in accordance with MI 61-101. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the second tranche, as the details of the participation by related party of the company were not settled until shortly prior to closing of the second tranche.

The company also announces that it has granted an aggregate of 325,000 stock options to certain consultants of the company. The stock options are exercisable into common shares at 20 cents per share for a period of five years.

About Getchell Gold Corp.

The company is a Nevada-focused gold and copper exploration company trading on the Canadian Securities Exchange under the symbol GTCH and on the OTCQB under the symbol GGLDF. Getchell Gold is primarily directing its efforts on its most advanced-stage asset, Fondaway Canyon, a past gold producer with a significant in-the-ground current resource estimate. Complementing Getchell's asset portfolio is Dixie Comstock, a past gold producer with a historic resource and two earlier-stage exploration projects -- Star (copper/gold/silver) and Hot Springs Peak (gold). Getchell has the option to acquire 100 per cent of the Fondaway Canyon and Dixie Comstock properties in Churchill county, Nevada.

We seek Safe Harbor.