Gelum Completes Initial Reconnaisance and Sampling of Las Tinajas Gold Project, Northern Maricunga Belt, Chile

About this update from Gelum Resources Ltd.

GELUM ANNOUNCES $5 MILLION PRIVATE PLACEMENT AND PROVIDES TERMS OF SETTLEMENT AGREEMENTVancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - Gelum Resources Ltd. (CSE: GMR) (OTCQB: GMRCF) ("Gelum" or the "Company") reports that it has completed reconnaissance mapping and rock geochemical sampling at the Las Tinajas Gold Project ("Las Tinajas" or the "Project"), covering 2,600 hectares in the north end of the Maricunga Gold Belt, Chile. Las Tinajas is located 120 km northeast of Copiapó, in the Atacama Region of northern Chile (Figure 1). Gelum completed a 60-day due diligence to its satisfaction and may earn 100% interest in the Project according to the option agreement with Sociedad Contractual Minera Las Tinajas and Compañía de Inversiones Mineras S.A. (the "Option Agreement") outlined in our news release dated April 30, 2026.Henk van Alphen, CEO states that "Las Tinajas continues to show fabulous promise for being a large system with bulk-tonnage, open-pit potential for gold and possibly also copper".Figure 1. Location of Las Tinajas in northern Chile, and the claim configuration on satellite imageryTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6458/297991_8b4ff5d464a15a4f_002full.jpgLas Tinajas SummaryGelum Resources Ltd. is targeting a large epithermal disseminated gold deposit at Las Tinajas, which is located at the north end of the Maricunga Belt in northern Chile: a renowned gold-copper porphyry district. Gold mineralization is associated with silicified porphyry intrusions and associated diatreme breccias.Since 1986, 64 drillholes totaling 10,990 metres have been completed in three campaigns, the most recent being 16 holes totaling 2831 metres in 2024-2025. Multiple historical holes have significant intervals of >1g/t gold, with several ending in ≥1g/t gold.Only a small portion of the claim block has been drill-tested and there is significant potential to expand the known mineralized centres associated with the diatreme breccia.Sampling ResultsIn April 2026, a Gelum crew spent seven days on site auditing drill hole collars, reviewing select drill core, and collecting rock geochemical samples across the claims. The sampling focused on five-metre continuous rock chip samples across the strongest alteration exposed in several road cuts. A total of 157 samples were collected and ...

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