File: Attachment NIKL_NR_20240216 announcing transfer to NEX.pdf

FOR IMMEDIATE RELEASE February 16, 2024

GK RESOURCES ANNOUNCES TRANSFER TO NEX

Vancouver, British Columbia (February 16, 2024) GK Resources Ltd. (TSX-V: NIKL) ("GK" or the "Company") announces that it has been advised by the TSX Venture Exchange (the "Exchange") that, as it has been unable to satisfy the Continued Listing Requirements in accordance with Exchange Policy 2.5 - Continued Listing Requirements to maintain its listing as a Tier 2 issuer, effective February 20, 2024, the Company's listing will transfer to the NEX. Following the transfer, of the Company's listing, the Company's Tier classification will change from Tier 2 to NEX and the filing and service office will change from Vancouver to NEX.

The trading symbol of the Company will change from NIKL to NIKL.H. The Company name has not changed, there has been no change to its CUSIP number, and no consolidation of capital has occurred. The Company continues to review strategic opportunities that will qualify the Company to return to the Exchange.

Contact Information: For more information and to sign-up to the mailing list, please contact:

Ian McDonald President and Chief Executive Officer Tel: (647) 407-2515 Email: jhanson@gkresourcesltd.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the transfer of the Company from the TSXV to the NEX. Forward- looking statements are necessarily based upon a number of estimates and assumptions that, while - 2 -

considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals, including approval from the TSXV. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

File: '\\swfile\EmailIn\20240216 075119 Attachment NIKL_NR_20240216 announcing transfer to NEX.docx'

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4100.001\0143

FOR IMMEDIATE RELEASE February 16, 2024

GK RESOURCES ANNOUNCES TRANSFER TO NEX

Vancouver, British Columbia (February 16, 2024) - GK Resources Ltd. (TSX-V: NIKL) ("GK" or the "Company") announces that it has been advised by the TSX Venture Exchange (the "Exchange") that, as it has been unable to satisfy the Continued Listing Requirements in accordance with Exchange Policy 2.5 - Continued Listing Requirements to maintain its listing as a Tier 2 issuer, effective February 20, 2024, the Company's listing will transfer to the NEX. Following the transfer, of the Company's listing, the Company's Tier classification will change from Tier 2 to NEX and the filing and service office will change from Vancouver to NEX.

The trading symbol of the Company will change from NIKL to NIKL.H. The Company name has not changed, there has been no change to its CUSIP number, and no consolidation of capital has occurred. The Company continues to review strategic opportunities that will qualify the Company to return to the Exchange.

Contact Information: For more information and to sign-up to the mailing list, please contact:

Ian McDonald

President and Chief Executive Officer

Tel: (647) 407-2515

Email: jhanson@gkresourcesltd.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the transfer of the Company from the TSXV to the NEX. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals, including approval from the TSXV. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.