Gabriel Resources Ltd. Update on ICSID Arbitration

LONDON, UK / ACCESSWIRE / March 7, 2024 / Gabriel Resources Ltd. (TSXV:GBU - "Gabriel" or the "Company") previously announced that the arbitral tribunal (the "Tribunal") must issue its final decision ("Award") to the parties in its World Bank International Centre for Settlement of Investment Disputes ("ICSID") claim against Romania on or before March 12, 2024.

The parties have now been informed by ICSID that the Tribunal expects to render its Award this Friday, March 8, 2024. Once an Award is received, Gabriel will notify the market.

For information on this press release, please contact:

Dragos Tanase President & CEO Phone: [phone] [e-mail]

Richard Brown Chief Financial Officer Mobile: [phone] [e-mail]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Gabriel

Gabriel is a Canadian resource company listed on the TSX Venture Exchange. The Company's principal business had been the exploration and development of the Roșia Montană gold and silver project in Romania. The Roşia Montană Project, one of the largest undeveloped gold deposits in Europe, is situated in the South Apuseni Mountains of Transylvania, Romania, an historic and prolific mining district that since pre-Roman times has been mined intermittently for over 2,000 years. The exploitation license for the Roşia Montană Project is held by Roșia Montană Gold Corporation S.A., a Romanian company in which Gabriel owns an 80.69% equity interest, with the 19.31% balance held by Minvest Roșia Montană S.A., a Romanian state-owned mining company.

Upon obtaining the License in June 1999, the Group focused substantially all of their management and financial resources on the exploration, feasibility and subsequent development of the Roşia Montană Project. Despite the Company's fulfilment of its legal obligations and its development of the Roşia Montană Project as a high-quality, sustainable and environmentally-responsible mining project, using best available techniques, Romania has unlawfully blocked and prevented implementation of the Roşia Montană Project without due process and without compensation. Accordingly, the Company's current core focus is the ICSID Arbitration. For more information please visit the Company's website at www.gabrielresources.com.