Gold Bull Resources Corp. (TSX-V: GBRC) is pleased to announce that is has closed its previously announced non-brokered private placement for gross proceeds of CA$1,360,283.49.

“I would like to thank our existing shareholders for their support in this oversubscribed financing, especially in this difficult market,” commented Cherie Leeden, CEO of Gold Bull.

In connection with the completion of the Offering, the Company issued 5,038,087 common shares and 5,038,087 warrants. Each Warrant will entitle the holder thereof to acquire one additional Share at a price of $0.40 per Warrant Share until March 7, 2027.

The securities issued pursuant to the Offering will be restricted from trading until July 8, 2024. A total of $10,215 was paid in cash and a total of 37,833 finder’s warrants were issued for finder’s fees. The finder’s warrants will expire on March 7, 2027 and have an exercise price of $0.40.

The net proceeds of the Offering will be used for further exploration and general working capital purposes. The Offering is subject to receipt of TSX Venture Exchange final approval.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Sandman

In December 2020, Gold Bull purchased the Sandman Project from Newmont. Gold mineralization was first discovered at Sandman in 1987 by Kennecott and the project has been intermittently explored since then. There are four known pit constrained gold resources located within the Sandman Project, consisting of 21.8Mt @ 0.7g/t gold for 494,000 ounces of gold; comprising of an Indicated Resource of 18,550kt @ 0.73g/t gold for 433kozs of gold plus an Inferred Resource of 3,246kt @ 0.58g/t gold for 61kozs of gold. Several of the resources remain open in multiple directions and the bulk of the historical drilling has been conducted to a depth of less than 100m. Sandman is conveniently located circa 30 km northwest of the mining town of Winnemucca, Nevada.

About Gold Bull Resources Corp.

Gold Bull’s mission is to grow into a US focused mid-tier gold development Company via rapidly discovering and acquiring additional ounces. The company’s exploration hub is based in Nevada, USA, a top-tier mineral district that contains significant historical production, existing mining infrastructure and an established mining culture. Gold Bull is led by a Board and Management team with a track record of exploration and acquisition success.

Gold Bull’s core asset is the Sandman Project, located in Nevada which has a 494,000 oz gold resource as per 2021 43-101 Resource Estimate. Sandman is located 23 km south of the Sleeper Mine and boasts excellent large-scale exploration potential.

Gold Bull is driven by its core values and purpose which includes a commitment to safety, communication & transparency, environmental responsibility, community, and integrity.

Qualified Person

Cherie Leeden, B.Sc Applied Geology (Honours), MAIG, a “Qualified Person” as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Ms. Leeden is the Company’s Chief Executive Officer.