Gelum Closes Non-Brokered Private Placement Grants Stock Options

Vancouver, British Columbia--(Newsfile Corp. - March 11, 2026) - Gelum Resources Ltd. (CSE: GMR) (OTC: GMRCF) (the "Company" or "Gelum") reports that, pursuant to their news release dated February 5, 2026, the non-brokered private placement (the "Offering") has closed. Today, the Company issued 6,526,312 units for gross proceeds of $1,501,051.76.

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant, each warrant (the "Warrants") entitling the holder thereof to purchase one additional common share of the Company at a price of $0.38 per share for a period of 24 months from the closing of the Private Placement. Expiry of the Warrants may be accelerated if the closing price of the Company's Shares on the Canadian Securities Exchange ("CSE") is equal to or greater than $0.76 for a minimum of twenty consecutive trading days and a notice of acceleration is provided in accordance with the terms of the Warrants.

Insider participation included the Company's new director, Chad Williams for 434,790 units, which constituted a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the formal valuation and minority approval requirements under MI 61- 101, pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization.

Finder's fees were paid to Canaccord Genuity Corp. ($14,007.00 and 60,900 finder's warrants), Haywood Securities Inc ($8,050.00 and 35,000 finder's warrants) and Ventum Financial Corp. ($4,830.00 and 21,000 finder's warrants). Finder's warrants are non-transferable, otherwise they have the same terms as subscriber Warrants.

All securities issued in connection with the Offering have a four-month and one day hold period in Canada from closing.

Gross proceeds of the Offering will be used for working capital.

None of the foregoing securities have been or will be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.