Mr. William Wagener reports

GETCHELL GOLD CORP. INCREASES FONDAWAY CANYON PROJECT CLAIM AREA BY 50%

Getchell Gold Corp. has increased the size of the Fondaway Canyon project, its flagship advanced-exploration-stage gold property, by 50 per cent through staking.

The company has staked an additional 75 claims, for 600 hectares (1,480 acres), bringing the total claim group to 246 claims, for 1,785 hectares (4,412 acres). The extended claim package now spans seven kilometres (4.5 miles) east to west and three kilometres (two miles) north to south.

The expanded claim boundary provides Getchell:

1. Sole control of the entire Fondaway Canyon gold corridor and mineralizing system;
2. Room to significantly expand the mineral resource and conceptual open pits;
3. Ample area to support the infrastructure required for future potential development.

Fondaway Canyon gold project

Getchell is delineating a potential Tier 1 gold resource at its flagship Fondaway Canyon gold project located in Nevada, United States.

Following three consecutive successful drilling programs, the company has effectively doubled the size of the historic resource, firmly placing Fondaway Canyon amongst the foremost developing projects in a world-class mining jurisdiction. The company recently published its first mineral resource estimate at Fondaway Canyon (see the company news release dated Feb. 1, 2023), which highlighted:

• Gold mineralization is at and near surface, supporting an open-pit mine model;
• Inferred mineral resource of 38.3 million tonnes at an average grade of 1.23 grams per tonne gold for 1,509,100 ounces of gold;
• Indicated mineral resource of 11.0 million tonnes at an average grade of 1.56 g/t Au for an additional 550,800 ounces of gold;
• Strong gold mineralization in the most peripheral drill holes leaves the mineral resources open in most directions for further expansion and indicates a substantially larger body of mineralization than delineated to date (see the company news release dated Aug. 9, 2023);
• Fully permitted drill program designed to expand the mineral resources and upgrade inferred resources to indicated.

Getchell is well positioned to continue expanding the mineral resource estimate and advancing toward a preliminary economic assessment.

Scott Frostad, PGeo, is the qualified person (as defined in National Instrument 43-101), who reviewed and approved the content and scientific and technical information in the news release.

Supplemental financing amendment

Further to the company's announcement dated Nov. 27, 2023, the warrant terms of the non-brokered private placement supplemental offering have been revised while all other terms remain unchanged.

The financing will consist of up to 1.5 million units at a price of 10 cents per unit for gross proceeds of up to $150,000. Each unit will consist of one common share of the company and one common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share of the company at a price of 15 cents per share for a period of two years from the date of closing.

The proceeds from the financing will be used to conduct exploration work on the Fondaway Canyon gold project and for general working capital. In connection with the financing, the company may pay finders' fees.

Closing of the financing is subject to receipt of all necessary corporate and regulatory approvals, including acceptance by the Canadian Securities Exchange. The securities issued pursuant to the financing will be subject to a statutory four-month hold period in accordance with applicable securities laws.

About Getchell Gold Corp.

The company is a Nevada-focused gold and copper exploration company trading on the Canadian Securities Exchange (GTCH), the OTCQB (GGLDF) and the Frankfurt Stock Exchange (GGA1). Getchell is primarily directing its efforts on its most advanced stage asset, Fondaway Canyon, a past gold producer with a large mineral 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, Churchill county, Nevada.

We seek Safe Harbor.