Ms. Cherie Leeden reports

GOLD BULL ANNOUNCES SHAREHOLDER APPROVAL, RECEIPT OF COURT APPROVAL AND EXPECTED CLOSING DATE OF BOREALIS ARRANGEMENT

Gold Bull Resources Corp. shareholders approved the plan of arrangement with Borealis Mining Company Ltd. at the annual general and special meeting held on Feb. 28, 2025.

At the meeting, shareholders were asked to consider, and if thought fit, pass a resolution to approve the arrangement. Under the arrangement, Borealis will acquire all of the issued and outstanding shares of Gold Bull and issue to shareholders 0.93 of a Borealis common share for each Gold Bull share held. For further details about the arrangement, you can see the news release dated Dec. 10, 2024, or review the management information circular dated Jan. 24, 2025, posted on Gold Bull's website and on its profile on SEDAR+.

The arrangement Resolution required the approval of: (i) at least 66.67 per cent of the votes cast by shareholders present in person or represented by proxy at the meeting; and (ii) at least 50 per cent of the votes cast by shareholders present or in person or represented by proxy at the meeting, excluding votes cast by Cherie Leeden, president and chief executive officer of Gold Bull, in accordance with Section 8.1 of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101).

A total of 5,168,721 Gold Bull shares were voted for the arrangement resolution and a total of 25,071 Gold Bull shares were voted against the arrangement resolution. The arrangement resolution was approved by 99.52 per cent of the votes cast by shareholders. Excluding votes cast by Cherie Leeden in accordance with MI 61-101, the arrangement resolution was approved by 99.47 per cent of the votes cast by shareholders. No shareholders exercised dissent rights with respect to the arrangement.

Cherie Leeden, president and chief executive officer of Gold Bull, stated: "We want to thank all of our shareholders for their support received which is reflected in their 99.52 per cent votes in favour approving this takeover. Our board was unanimously in favour of this transaction because we believe Borealis has the potential to develop Sandman in a less dilutive manner while in parallel providing Gold Bull shareholders with the upside of their Borealis gold mine asset which is nearing production. There are not many other producing gold mines in this space operating in the Tier 1 jurisdiction of Nevada, USA."

Gold Bull is also pleased to announce that the Supreme Court of British Columbia has issued its final order approving the arrangement.

Gold Bull and Borealis expect the closing of the arrangement will occur on or around March 13, 2025.

About Gold Bull Resources Corp.

Gold Bull's mission is to grow into a United States-focused mid-tier gold exploration and development company via rapidly discovering and acquiring additional ounces. Gold Bull's exploration hub is based in Nevada, a top-tier mineral district that contains significant historical production, existing mining infrastructure and an established mining culture. Gold Bull is led by a board and management team with a record of exploration and acquisition success. Gold Bull's core asset is the Sandman project, located in Nevada, which has a 494,000-ounce-gold resource as per a 2021 National Instrument 43-101 resource estimate. Sandman is located 23 kilometres south of the Sleeper mine and boasts excellent large-scale exploration potential. Gold Bull also owns the Big Balds exploration project, also located in Nevada.

About Borealis Mining Company Ltd.

Borealis is a gold mining and exploration company focused on exploration and resumption of production of the Borealis mine in Nevada. The Borealis mine is a fully permitted mine site, equipped with active heap leach pads, an ADR facility and all necessary infrastructure to support a heap leach gold mining operation. In addition to the mine, the property, comprising 751 unpatented mining claims of approximately 20 acres each totalling approximately 15,020 acres and one unpatented mill site claim of about five acres located in western Nevada, is highly prospective for additional high-sulphidation gold mineralization. Borealis is led by a strong board and management team, many of whom have founded, managed and sold highly successful mining and exploration companies.

About the Borealis mine project

The Borealis mine property, located close to the town of Hawthorne, Nev., is fully permitted and equipped for present mine operations and future expansion, with existing open pits, heap leach pads, modern infrastructure and a functional ADR facility, which produces dore bars. The project has historically produced over 600,000 ounces of gold from an open-pit heap leach operation. It is an underexplored property and has not been drilled since 2011. The property possesses high-grade expansion potential with excellent historical drilling results, along with a number of untested regional targets.

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