File: '\\swfile\EmailIn\20240301 135227 Attachment NIKL_NR_20240301 announcing private placement.docx'

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4100.001\0143

FOR IMMEDIATE RELEASE March 1, 2024

GK RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Vancouver, British Columbia (March 1, 2024) - GK Resources Ltd. (TSX-V: NIKL) ("GK" or the "Company") is pleased to announce a non-brokered private placement financing of up to 6,666,667 common shares of the Company (the "Shares") at a price of C$0.03 per Share for gross proceeds of up to C$200,000 (the "Financing").

Closing of the Financing is subject to receipt of all necessary approvals, including that of the board and the NEX board of the TSX Venture Exchange. All securities issued in connection with the Financing will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada.

Certain directors and officers of the Company will participate in the Financing. As a result, the Financing is expected to be a related party transaction subject to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(b) and 5.7(b) of MI 61-101.

Proceeds from the Financing will be used for working capital purposes.

[NTD: Jen we need to include the following if applicable:

the Issuer fully discloses to the public at the time of announcement of any financing and at the time of closing of any financing the proposed use of proceeds of the financing, including a breakdown by amount or percentage of: (A) any proposed payments to Non-Arm's Length Parties of the Issuer; and (B) any proposed payments to Persons conducting Investor Relations Activities; and (C) any specific use representing 10% or more of the gross proceeds;]

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

Grant Tanaka

Chief Financial Officer

Tel: (604) 802-2220

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. 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 NEX Board of the TSX Venture Exchange. 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: Attachment NIKL_NR_20240301 announcing private placement.pdf

FOR IMMEDIATE RELEASE March 1, 2024

GK RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Vancouver, British Columbia (March 1, 2024) GK Resources Ltd. (TSX-V: NIKL) ("GK" or the "Company") is pleased to announce a non-brokered private placement financing of up to 6,666,667 common shares of the Company (the "Shares") at a price of C$0.03 per Share for gross proceeds of up to C$200,000 (the "Financing").

Closing of the Financing is subject to receipt of all necessary approvals, including that of the board and the NEX board of the TSX Venture Exchange. All securities issued in connection with the Financing will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada.

Certain directors and officers of the Company will participate in the Financing. As a result, the Financing is expected to be a related party transaction subject to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(b) and 5.7(b) of MI 61-101.

Proceeds from the Financing will be used for working capital purposes. [NTD: Jen we need to include the following if applicable: the Issuer fully discloses to the public at the time of announcement of any financing and at the time of closing of any financing the proposed use of proceeds of the financing, including a breakdown by amount or percentage of: (A) any proposed payments to Non-Arm's Length Parties of the Issuer; and (B) any proposed payments to Persons conducting Investor Relations Activities; and (C) any specific use representing 10% or more of the gross proceeds;]

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

Grant Tanaka Chief Financial Officer Tel: (604) 802-2220 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 - 2 -

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. 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 NEX Board of the TSX Venture Exchange. 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.