Gelum Resources Completes Acquisition of Las Tinajas Gold Project, Northern Maricunga Belt, Chile

About this update from Gelum Resources Ltd.

APPOINTS GORDON NEAL AS ADVISOR RETAINS LIVIAKIS FINANCIAL FOR INVESTOR RELATIONS SERVICES Vancouver, British Columbia--(Newsfile Corp. - April 30, 2026) - Gelum Resources Ltd. (CSE: GMR) (OTC Pink: GMRCF) ("Gelum" or the "Company") reports that further to its news release dated February 27, 2026, that it has signed an option agreement with Sociedad Contractual Minera Las Tinajas and Compañía de Inversiones Mineras S.A. (the "Option Agreement") both of Santiago, Chile, and both at arm's length to the Company, whereby Gelum may earn a 100% interest in the Las Tinajas Gold Project ("Las Tinajas" or the "Project") covering 2,600 hectares (the "Concessions") 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 has completed due diligence over the last 60 days to their satisfaction. Henk van Alphen, CEO states that "It is a very unique opportunity to find a project like Las Tinajas, which is located in one of the most prolific gold regions of the world where there are broad intervals of 30 to 80 meters of gold mineralization. This by itself would be very impressive, was it not for the fact that many drill holes ended in mineralization.. This points to a system with bulk tonnage open-pit potential". Option Agreement Terms OPTION AGREEMENT TERMS Cash Payments Date US Dollar Amount On signing (paid) $100,000 6 months following signing 200,000 12 months following signing 500,000 24 months following signing 1,000,000 36 months following signing 2,000,000 48 months following signing 5,200,000 Subject to whichever occurs first of the following conditions: The sale of at least 51% of the Project (or 51% of the Company holding the Project); or The Project goes into commercial production; or Once the Company releases an NI 43-101 mineral resource estimate containing a minimum of 2 million ounces of gold in the measured and indicated category. 2,500,000 Total: 11,500,000 Royalty (NSR) 2.5%* Buy back 1.25% of the Royalty for cash payment of*within a period of 5 years from the date of the final option payment 3,500,000 Minimum Exploration Expenditures* 24 months 2,000,000 36 months 1,000,000 Total: 3,000,000 *plus at least 4,000 meters of drilling   Las Tinajas is located 120 km northeast of Copiapó, in the Atacama Region of northern Chile, at th...

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