GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) announces that it has received total proceeds of C$3,712,528 million from the exercise of 28,557,907 common share purchase warrants of the Company, which expired December 9, 2024. The Warrants were originally issued on October 6, 2022, March 21, 2023 and April 19, 2024. In connection with the exercise of warrants, Alamos Gold Inc. (TSX: AGI) (NYSE: AGI) has exercised 5,343,302 warrants for a total consideration of C$694,629. As of today, the Company currently has nil Warrants outstanding.

Brian Skanderbeg, President and CEO of GFG commented, “We are grateful for the unwavering support and confidence our shareholders have shown by exercising their Warrants. Our management team and Board of Directors have also demonstrated their commitment by exercising their own Warrants, ensuring alignment with shareholders. This funding enables GFG to accelerate the exploration programs at our projects in the highly prospective Timmins Gold Camp. We are currently focused on drilling at our Aljo Gold Project and are looking forward to initiating our first pass drill program at the Muskego Gold Target in early 2025.”

About GFG Resources Inc.

GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company operates three gold projects, each large and highly prospective gold properties within the prolific gold district of Timmins, Ontario, Canada. The projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 km southwest of Casper, Wyoming, U.S. On August 15, 2024, the Company signed a definitive agreement with Patriot Gold Vault Ltd. Under the terms of the Agreement, Patriot will purchase RSH by paying GFG an aggregate consideration of approximately C$3.3 million. The Company anticipates closing the transaction with Patriot prior to year-end.