Mr. Hendrik van Alphen reports

GELUM ARRANGES NON-BROKERED PRIVATE PLACEMENT AND CHANGE IN OFFICERS

Gelum Resources Ltd. has arranged a non-brokered private placement for which units are currently being allocated. The company will issue up to 6,521,739 units at a price of 23 cents per unit for aggregate proceeds of up to $1.5-million.

Each unit consists of one common share of the company and one-half of one common share purchase warrant, each warrant entitling the holder thereof to purchase one additional common share of the company at a price of 38 cents 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 is equal to or greater than 76 cents for a minimum of 20 consecutive trading days and a notice of acceleration is provided in accordance with the terms of the warrants.

Finders' fees of 7 per cent in cash and 7 per cent in finders' warrants may be payable to qualified finders in connection with the private placement.

All securities issued in connection with the offering have a four-month-and-one-day hold period in Canada from closing. Finders' fees may be paid to eligible finders in accordance with Canadian Securities Exchange policies and applicable securities laws.

Gross proceeds of the private placement will be used for working capital.

Change in officers

The company further reports that Hendrik van Alphen has stepped in as chief executive officer, following the resignation of David Smith as president. The company has also appointed Stuart Ross as chief financial officer, following the resignation of Sead Hamzagic as CFO. The company would like to thank Mr. Smith and Mr. Hamzagic for their many years of service to the company.

About Gelum Resources Ltd.

Gelum Resources is a company led by seasoned management and advisers in the mining and financial sectors.

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