Closing of Second and Final Tranche of Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

LONDON, UK / ACCESS Newswire / November 12, 2025 / Gabriel Resources Ltd. (TSXV:GBU)("Gabriel" or the "Company") is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement (the "Offering"). For more information on the Offering, please see the Company's press releases dated August 29, 2025, September 2, 2025 and September 12, 2025, which are available under the Company's SEDAR+ profile at www.sedarplus.ca.

Pursuant to the second closing of the Offering (the "Second Closing"), the Company has issued a total of 10,781,571 units of the Company ("Units") at a price of C$0.105 per Unit for aggregate gross proceeds of US$825,000 (approximately C$1.16 million). Each Unit consists of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one Common Share in the capital of the Company at an exercise price of C$0.14 per Common Share expiring September 12, 2030.

In aggregate, the Company issued 37,441,457 Units pursuant to the Offering for total proceeds of US$2,865,000 inclusive of the first tranche closing.

The securities issued in connection with the Second Closing are subject to a statutory four-month hold period, which will expire on March 13, 2026. Completion of the Offering is subject to receipt of final approval of the TSX Venture Exchange.

The net proceeds of the Offering will be used for general corporate purposes, including, without limitation, the costs and expenses of pursuing the Company's ICSID annulment application and for critical operational expenses. The Company will not pay any finders' fees in respect of the procurement of arm's length subscribers in connection with the Offering.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and accordingly may not be offered or sold within the United States or to "U.S. persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act ("U.S. Persons"), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account or benefit of, persons in the United States or U.S. Persons.