Mr. Mike Sieb reports

GETCHELL GOLD CORP. REPORTS SIGNIFICANT INCREASE TO THE MINERAL RESOURCE ESTIMATE AT THE FONDAWAY CANYON GOLD PROJECT, NV

Getchell Gold Corp. has an updated mineral resource estimate (2024 MRE) for the Fondaway Canyon gold project in Churchill county, Nevada.

2024 updated mineral resource estimate key highlights:

• 18-per-cent increase in indicated mineral resources and 11-per-cent increase in inferred relative to previous MRE;
• Indicated mineral resource of 13.5 million tonnes at an average grade of 1.49 grams per tonne (g/t) gold (Au) for 648,000 ounces (oz) of gold;
• Inferred mineral resource of 44.8 million tonnes at an average grade of 1.16 g/t Au for an additional 1,670,100 ounces of gold;
• Significant oxide cap delineated;
• Gold mineralization starts at surface and remains open for further expansion.

"The significant increase to the mineral resource estimate at Fondaway Canyon moves the valuation bar considerably higher and continues to demonstrate the incredible upside potential that has yet to be discovered," stated Mike Sieb, president.

The results of the 2024 updated mineral resource estimate are provided in the attached tables.

The MRE represents a significant expansion to the 2023 mineral resources estimate published by the company in February, 2023, primarily due to:

1. The addition of eight holes drilled in 2022 in the central area, FCG22-20 through FCG22-28 (excluding FCG20-24 drilled to the west outside of the current resource), completed subsequent to the cut-off for inclusion into the 2023 MRE. All eight drill holes intersected significant intervals of gold mineralization (company news release dated June 6, 2024);
2. A 7-per-cent increase in the bulk density of the mineralized host rock, derived from the 2024 field work collecting a total of 1,382 sample measurements and validated by a subset of 121 samples analyzed at Bureau Veritas's laboratory in Sparks, Nev. (company news release dated June 6, 2024);
3. An increase to the $1,950 (U.S.) price of gold from a price of $1,650 (U.S.) utilized in the 2023 mineral resource model, reflecting the substantial increase in the price of gold occurring over the intervening period.

Oxide cap

In addition, this iteration of the mineral resource estimate delineated a significant near-surface oxide cap to the resource (see an attached table). This could be of major significance in the potential development and economics of a future operation at Fondaway Canyon.

Preliminary economic assessment

The company has engaged Forte Dynamics Inc., of Fort Collins, Colo., to complete modern metallurgical studies and prepare a preliminary economic assessment (PEA) on the Fondaway Canyon gold project (company news release dated June 25, 2024). With the 2024 MRE complete, Forte Analytical is in the process of completing a series of modern metallurgical studies that will be incorporated into the Fondaway Canyon PEA with completion scheduled for the fall.

The full documentation for the 2024 mineral resource estimate will be reported within the forthcoming PEA.

Michael Dufresne, PGeol, PGeo, is independent and the qualified person (as defined in NI 43-101) who reviewed and approved the content and scientific and technical information in the news release.

Corporate

The company issued an aggregate of 1,411,250 common share purchase warrants, pursuant to a non-brokered private placement of units of the company that closed on Sept. 28, 2020. The warrants were issued with an exercise price of 60 cents and an expiry date of Sept. 28, 2022. On Sept. 16, 2022, the company extended the expiry date of the warrants by one year and changed the exercise price from 60 cents to 50 cents, and on Sept. 7, 2023, the company further extended the expiry date of the warrants to Sept. 28, 2024. The company has further extended the expiry date of the warrants by one year to Sept. 28, 2025.

About Getchell Gold Corp.

The company is a Nevada-focused gold and copper exploration company trading on the Canadian Securities Exchange (symbol GTCH), the OTCQB market (symbol GGLDF) and the Frankfurt Stock Exchange (symbol GGA1). Getchell Gold 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 the high-grade Star (Cu-Au-Ag) projects.

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