Mr. William Wagener reports

GETCHELL GOLD CORP. ANNOUNCES CLOSING OF SECOND AND FINAL TRANCHE OF EQUITY FINANCING

Getchell Gold Corp. has closed the second and final tranche of its previously announced non-brokered private placement of units. Between both tranches, the company issued a total of five million units for gross proceeds of $500,000. Each unit comprises one common share and one common share purchase warrant. Each unit warrant entitles the holder to acquire an additional common share at a price of 15 cents for two years from the date of issuance.

The proceeds from the unit financing will be used to conduct further exploration work on the company's mining properties and for general working capital.

Corporate

The company has engaged WA Group LLC as a strategic advisory consultant to the company for a period of six months. As consideration for its services, the company will issue to the consultant a total of 225,000 common shares and 225,000 stock options. The shares will be issued monthly in tranches of 37,500 shares over the course of the consultant's term, and the options will be exercisable at a price of 15 cents per share for a period of three years from the grant date. The consultant and the company are arm's-length parties.

The securities issued in the second tranche of the unit financing, and the securities issued and issuable to the consultant, are subject to a statutory hold period of four months from the date of issuance, in accordance with applicable securities laws.

About Getchell Gold Corp.

The company is a Nevada-focused gold and copper exploration company. Getchell Gold is primarily directing its efforts on its most-advanced-stage, 100-per-cent-owned Fondaway Canyon gold project, a past gold producer with a large mineral resource estimate. Complementing Getchell's asset portfolio are the 100-per-cent-owned Dixie Comstock, a past gold producer with a historical resource, and two earlier-stage exploration projects: Star (copper-gold-silver) and Hot Springs Peak (gold). The Fondaway Canyon and Dixie Comstock properties are located in Churchill county, Nevada.

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