US$1.5 Million Bridge Loan

About this update from Gabriel Resources Ltd.

US$1.5 Million Bridge LoanNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO, ON / ACCESS Newswire / April 28, 2026 / Gabriel Resources Ltd. (TSXV:GBU) ("Gabriel" or the "Company") announces that it has entered into definitive agreements with certain existing shareholders pursuant to which the lenders will make available to the Company short-term unsecured bridge loans in an aggregate principal amount of US$1,500,000 (the "Loans").The Company is in a critical financial condition and requires an immediate infusion of short-term working capital to sustain its application to annul the award issued by the ICSID Tribunal in March 2024 and to fund its immediate operations. The Board of Directors of the Company (the "Board") believes that the Loans are fundamental to the Company's ability to complete a proposed financing (the "Proposed Financing"), which, if completed, will substantially improve the Company's balance sheet and allow it to finance its critical operational costs.The Loans will be unsecured and will rank pari passu with all other existing and future unsecured senior indebtedness of the Company and senior to any subordinated debt of the Company. The Loans will bear interest at a rate of 12% per annum and will mature on the earliest of: (i) the first anniversary of the date of the Loans (being April 28, 2027); (ii) the date which is five business days following the completion of the Proposed Financing; or (iii) the date on which the Lenders declare the Loans due and payable following the occurrence of an Event of Default (as such term is defined in the Loan agreements). It is anticipated that the Loans will be repaid from the proceeds of the Proposed Financing.The Proposed Financing, if implemented, will be subject to the approval of the TSX Venture Exchange (the "TSXV") and receipt of all necessary corporate and regulatory approvals. The terms of the Proposed Financing are currently under consideration. There can be no assurance that sufficient additional financing will be available to the Company at any time or, if available, that it can be obtained on terms and timing satisfactory to the needs of the Company.The Loans have been made available by two of Gabriel's principal shareholders, Electrum Global Holdings LP and Paulson & Co., Inc. (collectively the "Lenders").Due to the participation of insiders ...

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