Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (FWB: GGA1) is pleased to announce the final tranche of its debenture financing. In this third tranche of the Debenture Financing, the Company has subscriptions for $1,441,900 principal amount of non-convertible debentures, for total aggregate funds of $4,363,318 across all tranches of the Debenture Financing. In connection with this closing, the Company will issue 14,419,000 warrants. Each Debenture Warrant will entitle the holder to purchase a common share of the Company at $0.10 per share for three years. 50% of the Debenture Warrants will vest on closing and the remaining 50% will vest and be exercisable 14 months following closing if the Debenture has not been repaid prior to that vesting date.

In connection with the third tranche of the Debenture Financing, the Company may issue finder’s fees. The proceeds from the third tranche of the Debenture Financing will be used to conduct exploration work on the Company’s properties and for general working capital.

It is anticipated that one insider of the Company will participate in the Debenture Financing. The Debenture Warrants of this insider will be exercisable at $0.16 per share for three years, with the same vesting terms as applicable to the other Debenture Warrants. The insider’s participation constitutes a “related party transaction” under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements under section 5.5(a) and section 5.7(1)(a) of MI 61-101, as the fair market value of the securities issued to the related party will not exceed 25% of the Company’s market capitalization.

The securities to be issued in connection with the third tranche of the Debenture Financing are subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities laws. Closing of the third tranche of the Debenture Financing is subject to approval of the Canadian Securities Exchange.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

About Getchell Gold Corp.

The Company is a Nevada focused gold and copper exploration company. Getchell Gold is primarily directing its efforts on its most advanced stage, 100% owned, Fondaway Canyon gold project, a past gold producer with a large mineral resource estimate. Complementing Getchell’s asset portfolio are the 100% owned; Dixie Comstock, a past gold producer with a historic resource and two earlier stage exploration projects, Star (Cu-Au-Ag), and Hot Springs Peak (Au) projects. Fondaway Canyon and Dixie Comstock properties are located in Churchill County, Nevada.