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Gelum Adds Ken Shannon to It's Advisory Board and Provides an Update on Eldorado Gold Project, B.C

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Vancouver, British Columbia--(Newsfile Corp. - June 23, 2022) - Gelum Resources Ltd. (CSE: GMR) (the "Company" or "Gelum) Vancouver, B.C. reports that management and directors are extremely pleased to welcome Mr. Ken Shannon to the Company's Advisory Board. Director Hendrik van Alphen is particularly pleased having successfully worked with Ken on Corriente Resources Inc., a copper project in Ecuador which was successfully sold in 2010 to CRCC-Tongguan Investments (Canada) Co. Ltd., a Chinese partnership, for $680,000,000.

Mr. Shannon has worked for over 20 years in the role of CEO, raising over $200 million of venture capital for mineral exploration projects. His accomplishments include the discovery or confirmation of the Taca-Taca deposit in Argentina, and the Mirador, Mirador Norte, Panantza and San Carlos deposits of the Corriente Copper Belt in Ecuador (>30 Billion pounds of contained copper in total).

In addition to Mr. Shannon's experience and knowledge relating to corporate management, the Board welcomes his recognition and experience in building a trusting and prosperous relationship with Indigenous Peoples, a focus of the existing management.

Corporate Review

1) Completion of a surface exploration work program (December 2021)

  • Geochemical sampling program indicates a significant expansion of the historical gold anomalies generated by previous work on the property.

  • Establishment of precise drill targets. Drilling to commence this summer in cooperation with the Bridge River Indian Band.

2) Announce the addition of Kelly Earle to Advisory Board (December 2021)

Ms. Earle has 15 years of experience in the mining industry and is currently Vice President, Communications with Skeena Resources Limited, where she oversees all corporate development and investor relations activities. Ms. Earle spent several years in the field as a geologist prior to making the transition into the corporate side of the industry. She is a founding member of the British Columbia Regional Mining Alliance (BCRMA), a regional partnership between Aboriginal groups, industry and provincial government representatives to promote mining investment in the Golden Triangle of northwest BC. Ms. Earle brings significant relevant experience to the Company's advisory board.

3) Completion of $937,500 Financing (January 2022)

The Company closed $520,000 Flow-Through funds and $417,500 Non-Flow-Through funds.

4) Acquired the ML copper-gold claims in central B.C. (March 2022)

The acquisition of the ML claims allows Gelum to earn a 100% interest in the 8,736 Ha ML land position 6 kilometres from the Mt. Polley porphyry Cu-Au past-producing mine (care and maintenance; Imperial Metals Corp.), 6 kilometres from Osisko's QR Deposit (past-producer) and 28 kilometres from the active Gibraltar porphyry Cu-Mo active mine (Taseko - 75%, Cariboo Copper Corp. - 25%), located in south-central British Columbia, Cariboo Mining District.

5) Acquired the Robson mineral claims in central B.C. (March 2022)

The acquisition of the Robson claims consolidated the existing Bralorne/Bridge River Eldorado claims with the addition of 305 hectares that lie within the Eldorado claims. The Robson claims have historical workings that when coupled with drilling by Gold Field's in 2011 indicate some broad intervals of anomalous, significant gold values within carbonate-sericite altered granodiorite of the Eldorado Pluton.

ML land position 6 kilometres from the Mt. Polley porphyry Cu-Au past-producing mine (care and maintenance; Imperial Metals Corp.), 6 kilometres from Osisko's QR Deposit (past-producer) and 28 kilometres from the active Gibraltar porphyry Cu-Mo active mine (Taseko - 75%, Cariboo Copper Corp. - 25%), located in south-central British Columbia, Cariboo Mining District.

6) Completion of VTEM geophysical survey covering 4000 Ha (April 2022)

VTEM airborne geophysics comprising 889 line-kilometres, covering 4000Ha, of the western third of the claim block was completed by Geotech Ltd., in April 2022. Final data and maps are being compiled and will be interpreted promptly.

7) An Exploration Agreement with the Bridge River Indian Band (May 2022)

The agreement was concluded and signed on May 9, 2022. The agreement covers the exploration of the Company's Eldorado project which is on territory within the St'at'imc territory ("Traditional Territory"), in which Xwísten and its members assert, hold and exercise constitutionally protected Aboriginal Title and Rights ("Indigenous Title and Rights." The agreement covers the relationship between Xwisten and the Company in governing the principles of good faith, mutual respect, transparency, and accountability in all dealings between Xwisten and the Company which will be the cornerstones of the agreement and relationship.

Management of Gelum have built a strong foundation for growth and look forward to commencing a drilling campaign this summer. In addition, the Company reports that it has developed a very positive working relationship with the Bridge River Indian Band. Clearly a win-win for all concerned.

Qualified Person

John Drobe, P.Geo., a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Drobe is not independent of the Company as he is a consultant of the Company.

About Gelum Resources Ltd.

Gelum Resources is a Company led by seasoned management and advisors in the mining and financial sectors. The Company currently has two objectives under management. The first is to define a multi-million oz. economic gold deposit in the Bralorne-Bridge River gold district located some 190 kilometres north of Vancouver and 74 km northwest of the town of Lillooet, B.C. This objective is made possible through the Company's acquisition of 26 mineral claims with a total area of 9028 hectares located in the Bralorne-Bridge River Gold District, which was host to one of the highest-grade, longest-producing mines in British Columbia. Management is proud to have developed an excellent working relationship with the Bridge River Indian Band (Xwísten) the project is within the traditional territory within the St'at'imc territory (Traditional Territory) in which Xwísten and its members assert, hold and exercise constitutionally protected Aboriginal Title and Rights ("Indigenous Title and Rights").

The second objective is to discover an alkalic porphyry and related skarn deposit within a prolific B.C. porphyry belt in the Interior Plateau region. The recently acquired ML property is accessible by 90% paved roads via Williams Lake, and the remainder by all-season dirt roads and secondary logging roads. The low to moderate relief allows year-round access and work. Airborne geophysics comprising magnetics and radiometrics was completed in early spring of 2022.

For further information about the Company and its exploration portfolio, please refer to Gelum Resources Corporate Presentation:

https://gelumresources.com/site/assets/files/5717/gelum_resources_deck_-_winter2022-03.pdf.

On Behalf of the Board of Directors

David Smith, President

For further information about Gelum, please contact:

David Smith, President
Email: dsmith@gelumresources.com
Phone: 604 484-1228
Cell: 778-834-1141

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

Cautionary Statements Regarding Forward-Looking Information

This presentation contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding any potential increase in shareholder value through the acquisition of undervalued precious metal deposits for development, joint venture or later disposition, the potential to partner with mine developers to achieve production at any of the Company's properties (existing or future); the potential for the capital costs associated with any of the Company's existing or future properties to be low; the potential for the Company to outline resources at any of its existing or future properties, or to be able to increase any such resources in the future; concerning the economic outlook for the mining industry and the Company's expectations regarding metal prices and production and the appropriate time to acquire precious metal projects, the liquidity and capital resources and planned expenditures by the Company, the anticipated content, commencement, timing and cost of exploration programs, anticipated exploration program results and the anticipated business plans and timing of future activities of the Company, are forward looking statements. Forward-looking statements are based on a number of assumptions which may prove incorrect, including, but not limited to, assumptions about the level and volatility of the price of gold; the timing of the receipt of regulatory and governmental approvals; permits and authorizations necessary to implement and carry on the Company's planned exploration programs at its properties; future economic and market conditions; the Company's ability to attract and retain key staff; and the ongoing relations of the Company with its underlying lessors, local communities and applicable regulatory agencies.

Accordingly, the Company cautions that any forward-looking statements are not guarantees of future results or performance, and that actual results may differ, and such differences may be material, from those set out in the forward-looking statements as a result of, among other factors, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, material adverse changes in economic and market conditions, changes in the regulatory environment and other government actions, fluctuations in commodity prices and exchange rates, the inability of the Company to raise the necessary capital for its ongoing operations, and business and operational risks normal in the mineral exploration, development and mining industries, as well as the risks and uncertainties disclosed in the Company's most recent management discussion and analysis filed with various provincial securities commissions in Canada, available at www.sedar.comThe Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events except as required by law. All subsequent written or oral forward-looking statements attributable to the Company or any person acting on its behalf are qualified by the cautionary statements herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128760