Mr. Gabriel Alonso-Mendoza reports

GABO MINING LTD. ANNOUNCES AGREEMENT TO ACQUIRE U.S. URANIUM PROJECTS AND PROPOSED NAME CHANGE TO GAMMA RESOURCES LTD.

A wholly owned subsidiary of Gabo Mining Ltd. (Medallion Research USA Inc.) has entered into a lease agreement dated April 14, 2025, with C Bar B Properties Corp. (the vendor), pursuant to which the company has been granted a four-year lease, with exclusive option to purchase, two advanced-stage uranium exploration projects located in Utah and New Mexico, United States. In connection with the transaction and to reflect its sharpened focus on uranium exploration and development, the company also announces its intention to rebrand as Gamma Resources Ltd. The acquisition, the name change and the associated proposed new trading symbol GARL are all subject to approval by the TSX Venture Exchange.

"Rebranding to Gamma Resources Ltd. reflects a deliberate and strategic realignment of our corporate identity with our mission to develop U.S.-based uranium resources that directly support the country's energy security and transition to a low-carbon future," said Gabriel Alonso-Mendoza, the company's president and chief executive officer. "Additionally, with our proprietary rare-earth element (REE) extraction technology currently licensed to ACDC Metals Ltd. (ASX: ADC) in Australia, we are expanding our role in supplying the critical raw materials essential to both national security and global clean energy objectives."

The two projects subject to the lease agreement with the vendor are described below. The company's immediate focus will be on the Green River project.

Green River project -- Utah

• Located in Emery county's San Rafael mining district, the Green River project comprises 41 unpatented lode mining claims targeting uranium mineralization in the Salt Wash member of the Morrison formation.
• The project is adjacent to Western Uranium Vanadium Corp's San Rafael project and lies just 11 km from the Maverick Minerals uranium/vanadium processing plant.
• Uranium deposits held by third parties near the Green River project include Deep Gold, Down Yonder, 4484 deposit, North deposit and Jackrabbit. Historical data for these nearby deposits north of the Green River project described a combined total indicated resource of 3,404,593 pounds, and an inferred resource of 1,859,532 lb 3O8.
• Additionally, three nearby mines, the Snow, Lucky and Probe mines, produced a total of approximately one million lb 3O8 from the same formation between 1973 and 1982.
• The reader is cautioned that mineralization similar to that known from may adjacent project areas not be indicative of mineralization that may be discovered on the Green River project.
• Claims are royalty-free and benefit from prior exploration infrastructure and data.
• Mineralization style and geology are supportive of potential ISR development.

Mesa Arc project -- New Mexico

• The Mesa Arc project includes 41 lode mining claims in northern New Mexico. Historical uranium production and mineralization are well documented across the district.
• Uranium mineralized bodies have been identified in prior drilling and were the subject of an internal resource estimate by Magnum Uranium Corp. in 2006.
• This historical (non-National Instrument 43-101 compliant) resource estimate suggested 2.5 to 3.0 million pounds of 3O8 on the Mesa Arc project claims.
• Potential for strike and down-dip extensions remains open.
• Claim consolidation and expansion initiatives under way.
• Phase exploration planned for Q2.

Data from summary logs of each drill hole giving the depth, thickness and grade of the intercept were incorporated into a spreadsheet. All uranium grades were given in Ueq (equivalent uranium as determined by down-hole probe). A disequilibrium ratio of Ueq by 1.29 minus 0.001 was used to estimate the true grade. The true grade by thickness value was then assigned to each polygon.

These intercepts were added and a volume was calculated for each hole based on the area by thickness. A tonnage factor of 16 was used in the calculation based on the average density of sandstone. A tonnage was assigned to each polygon (cubic feet of a polygon/16 tons), then the pounds of U3O8 for each polygon was determined. Cut-off grade in the calculations was 0.02 Ueq.

The historical mineral resource estimates for the nearby deposits held by third parties near the Green River project use indicated and inferred mineral resource categories and are believed to have the same meaning per those resource categories set out in sections 1.2 and 1.3 of the NI 43-101 -- Standards of Disclosure for Mineral Projects.

Select historic drill holes shall be twinned to verify grade. Any historic holes remaining open could be probed to verify grade.

The above information was derived from historical information that has not been verified or confirmed by a qualified person (as defined below). Such information will be used to assist the company in plans for continuing work on the properties, but the reader is cautioned that results may not be repeated. No qualified person has done sufficient work to classify the historical estimates as current mineral resources or mineral reserves and the company is not treating the historical estimates as current mineral resources or mineral reserves. Management cautions that past results on adjacent properties are not necessarily indicative of the results that may be achieved on the projects being acquired.

Key terms of the lease agreement

• Initial consideration:
  • $50,000 (U.S.) upon signing;
  • $200,000 (U.S.) payable within 120 days of execution.
• Annual lease payments:
  • $250,000 (U.S.) on each of the first, second and third anniversaries;
  • Option to purchase:
• Exclusive option to acquire a 100-per-cent interest in both project areas for a cash payment of $1.8-million (U.S.);
• The initial consideration and all annual lease payments are creditable toward the purchase price;
• Option exercisable at any time during the four-year lease term;
• No royalty or minimum work obligation:
  • No production royalty payable to the vendor;
  • No exploration or development spending commitments.
• AdditionalrRights:
  • Full ISR, mining, surface and subsurface rights granted;
  • All exploration data generated remains the sole property of the company;
  • One-mile area of interest safeguarded, with two-year posttermination restriction on competing claims or acquisitions.

"We are executing our strategy to build a U.S.-based portfolio of high-impact uranium assets with ISR potential," said Gabriel Alonso-Mendoza. "These projects offer scale, infrastructure advantages and geological continuity with historically productive systems.

"We look forward to initiating fieldwork in Q2 2025 as we advance toward our goal of delivering North American uranium supply."

The proposed acquisition is not a non-arm's-length transaction and no finders' fees are payable.

Mark Saxon (FAusIMM, MAIG), a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and a director of the company, has reviewed and approved the scientific and technical disclosure in the news release.

About Gabo Mining Ltd. (proposed: Gamma Resources Ltd.)

Gabo is a resource company focused on critical minerals within the Americas. The company has developed and licensed a proprietary rare-earth element (REE) extraction process and is now advancing uranium assets in New Mexico and Utah, U.S. Gabo is committed to responsible development and environmental-, social- and governance-aligned practices, including applying life cycle assessment methodologies in its planning and operations.

We seek Safe Harbor.