Mr. Nicolae Suciu reports

GABRIEL ANNOUNCES CLOSURE OF ICSID ANNULMENT PROCEEDINGS

The proceedings concerning the application by Gabriel Resources Ltd. and Gabriel's wholly owned subsidiary, Gabriel Resources (Jersey) Ltd., to annul the arbitral award dated March 8, 2024, in their proceedings against Romania (ICSID case No. ARB/15/31) have been declared formally closed by the ad hoc committee of the International Centre for Settlement of Investment Disputes hearing the dispute.

The parties have been informed that the annulment committee expects to issue its decision on the annulment application by the end of the week ending Friday, Nov. 13, 2026. The company will provide a further update upon receipt of the annulment committee's decision.

About Gabriel Resources Ltd.

Gabriel is a Canadian resource company listed on the TSX Venture Exchange under the symbol GBU. The company's current focus is pursuing the annulment application and preserving its assets and interests in Romania.

Gabriel holds an 80.69-per-cent interest in Rosia Montana Gold Corp. SA with the remaining 19.31 per cent held by Minvest Rosia Montana SA, a Romanian state-owned company. RMGC holds the company's interests in the Rosia Montana gold and silver project. In June, 2024, the competent Romanian authority rejected RMGC's application to extend the project's exploitation licence. RMGC is challenging that refusal before the Romanian courts.

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