U.S. Markets closed

Getchell Gold Corp. Announces Repriced Warrants and Extension of Term

Newsfile Corp.

Toronto, Ontario--(Newsfile Corp. - December 17, 2019) - Getchell Gold Corp. (CSE: GTCH) ("Getchell Gold" or the "Company") announces that further to the news release dated November 4, 2019, the warrant holders holding an aggregate of 4,601,250 of the Company's share purchase warrants (the "Warrants") issued pursuant to a financing that closed in December 2017, have consented to and agreed to the repricing and extension of the Warrants.

Effective December 18, 2019, the exercise price of the Warrants is amended from US$0.40 per share to C$0.25 per share. The expiry date is extended to December 31, 2020, provided that if, following the amendment, for any 10 consecutive trading days the closing price of the Company's listed shares exceeds C$0.3125, the term of the Warrants will be accelerated to a 30 day exercise period.

For further information please visit the Company's website at www.getchellgold.com or contact the Company at:

William Wagener

Chairman & CEO
+1 303 517 8764
info@getchellgold.com

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release. Not for distribution to U.S. news wire services or dissemination in the United States.

This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "will", and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, the Company will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: risks of future legal proceedings; regulatory approval of the issuance of securities, and potential dilution.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50871