Mr. Mike Sieb reports

GETCHELL GOLD CORP. ANNOUNCES ENGAGEMENT OF DRILL CONTRACTOR FOR THE 2025 DRILL PROGRAM AT FONDAWAY CANYON, NEVADA

Getchell Gold Corp. has engaged a drill contractor to conduct the 2025 drill program at the company's Fondaway Canyon gold project in Nevada.

Key highlights:

• Large gold mineral resource;
• Robust preliminary economic assessment;
• Mineralization open for expansion;
• 10-hole, 3,000-metre (10,000-foot) drill program to commence mid- to late July;
• Designed to extend gold mineralization and increase mineral resource.

Fondaway Canyon

The project is located 140 kilometres (87 miles) northeast of Reno and 58 km (36 miles) northeast of Fallon, Nev. The project covers a total claim area of 4,623 acres (1,871 hectares) and extends seven kilometres east-west encompassing the entirety of the Fondaway Canyon gold corridor. Moreover, the extent of the claim package offers ample area to support resource growth and the infrastructure required for future development.

The project contains a large mineral resource (news release dated Sept. 11, 2024) comprising an indicated mineral resource of 13.5 million tonnes at an average grade of 1.49 grams per tonne gold, totalling 648,000 ounces of gold and an inferred mineral resource estimated at 44.8 million tonnes at 1.16 grams per tonne gold, amounting to 1,670,100 ounces of gold. Notably, gold mineralization starts at surface and remains open in most directions for further expansion.

Following the mineral resource estimate, a positive preliminary economic assessment on the Fondaway Canyon gold project was completed and filed (see news release dated Feb. 7, 2025). The PEA outlined an open-pit mining operation, coupled with a conventional 8,000-tonne-per-day milling process, projecting an initial mine life of approximately 10.5 years. The economic analysis highlighted robust project economics, with a pretax net present value (NPV) of $546-million (U.S.) and a 51.2-per-cent internal rate of return (IRR) and an after-tax NPV of $474-million (U.S.) and a 46.7-per-cent IRR at a conservative 10-per-cent discount and gold price of $2,250 (U.S.) per ounce.

2025 drill program

Given that the mineral resource remains open in most directions, an initial 10-hole, 3,000-metre (10,000-foot) drill program has been designed to further extend the mineralization, along strike and dip, with the intent to increase the mineral resource, enlarge the open-pit model and substantially enhance the project's overall value.

The company has engaged Foraco Corp. of Salt Lake City, Utah, to conduct the 2025 drill program at Fondaway Canyon. It is anticipated that the drill will mobilize to the project and commence drilling mid- to late July and continue through to the end of the drill season.

Qualified persons

The independent and qualified person for the mineral resource estimate, as defined by National Instrument 43-101, is Michael Dufresne, PGeol, PGeo, from Apex Geoscience Ltd.

The qualified person overseeing the minable resource estimate used for the economic analysis is Jonathan R. Heiner, SME-RM, from Forte Dynamics Inc.

The qualified person overseeing the metallurgical testing and mineral processing is Deepak Malhotra, SME-RM, from Forte Dynamics.

The qualified person overseeing the overall preliminary assessment and the economic analysis is Donald E. Hulse, SME-RM, from Forte Dynamics.

The qualified person (as defined in NI 43-101) who reviewed and approved the scientific and technical information in the news release is Scott Frostad, PGeo, vice-president, exploration, at Getchell Gold, who is non-independent.

Corporate

The company further announces that it has granted an aggregate of 325,000 incentive stock options under the company's omnibus equity incentive plan to a consultant of the company. The options are exercisable at a price of 30 cents per common share, have a three-year term from the date of grant and will vest immediately on the date of grant. The options are subject to the terms and conditions prescribed by the Canadian Securities Exchange and applicable securities laws.

About Getchell Gold Corp.

The company is a Nevada-focused gold exploration company trading on the CSE (symbol: GTCH), the OTCQB (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 and recently published preliminary economic assessment.

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