Mr. Mike Sieb reports

GETCHELL GOLD CORP. COMMENCES DRILL PROGRAM AT FONDAWAY CANYON, NEVADA

Getchell Gold Corp. has commenced the 2025 drill program at the company's 100-per-cent-owned 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;
• Designed to extend gold mineralization and increase mineral resource.

Fondaway Canyon

The project is located 140 kilometres (87 miles) northeast of Reno and 58 kilometres (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 (MRE) (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 MRE, a positive preliminary economic assessment (PEA) on the 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 internal rate of return (IRR) of 51.2 per cent and an after-tax NPV of $474-million (U.S.) and IRR of 46.7 per cent, at a conservative 10-per-cent discount and a 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.

For the first series of drill holes, the drill will be stationed in the Colorado pit, designed to expand the mineralization up dip to the northeast, then progressing to test the northwestern strike extent, with the balance of the drilling designed to expand the mineralization down dip to the southwest.

Private placement of units

The company announces that it has issued an additional one million units pursuant to its previously announced private placement financing of units at a price of 20 cents per unit. The additional subscription was not included in the original closing due to an administrative error. Each unit comprises one common share of the company and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share of the company at an exercise price of 30 cents per share until July 22, 2028. Together with this additional subscription, the company raised an aggregate of $4.2-million under the private placement, and the company intends to use the proceeds of the offering to spearhead the 2025 exploration program at the Fondaway Canyon gold project, as set out in greater detail in the company's news release dated May 26, 2025. The additional securities issued under the offering are subject to a four-month hold period, expiring on Nov. 23, 2025, in accordance with applicable Canadian securities laws.

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 mineral 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 Patrick McLaughlin, PGeo, senior project manager at Getchell Gold, and he is non-independent.

About Getchell Gold Corp.

The company is a Nevada-focused gold exploration company trading on the Canadian Securities Exchange under the symbol GTCH, on the OTCQB exchange under the symbol GGLDF and the Frankfurt Stock Exchange under the 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.

We seek Safe Harbor.