LONDON, UK / ACCESSWIRE / January 11, 2019 / Gabriel Resources Ltd. ("Gabriel" or the "Company") announces that
it has granted an aggregate of 131,029 incentive stock options and 130,870 deferred share units to certain directors of the Company
as non-cash directors' fees for Q4 2018 (the "Director Grant"). All incentive stock options issued under the Director Grant are
exercisable for a period of ten years at $0.34 per share and vest immediately from the date of grant.
As of the date hereof, a total of 24,750,126 common shares of the Company are reserved for issuance under the Company's
incentive stock plan, representing 5.3% of the issued and outstanding share capital. 2,933,603 common shares of the Company are
reserved for issuance under the Company's deferred share unit plan.
For information on this press release, please contact:
Dragos Tanase
President & CEO
Phone: +44 7799 469694 dt@gabrielresources.com
Richard Brown
Chief Commercial Officer
Phone: +44 7748 760276 richard.brown@gabrielresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further Information
About Gabriel
Gabriel is a Canadian resource company listed on the TSX Venture Exchange. The Company's principal focus has been the
exploration and development of the Ro?ia Montan? gold and silver project in Romania ("Ro?ia Montan? Project"). The Ro?ia Montan?
Project, one of the largest undeveloped gold deposits in Europe, is situated in the South Apuseni Mountains of Transylvania,
Romania, an historic and prolific mining district that since pre-Roman times has been mined intermittently for over 2,000 years.
The exploitation license ("License") for the Ro?ia Montan? Project is held by Ro?ia Montan? Gold Corporation S.A., a Romanian
company in which Gabriel owns an 80.69% equity interest, with the 19.31% balance held by Minvest Ro?ia Montan? S.A., a Romanian
state-owned mining company. It is anticipated that the Ro?ia Montan? Project would bring over US$24 billion (at US$1,200/oz gold)
to Romania as potential direct and indirect contribution to GDP and generate thousands of employment opportunities.
Upon obtaining the License in June 1999, the Group (as defined below) focused substantially all of their management and
financial resources on the exploration, feasibility and subsequent development of the Ro?ia Montan? Project. Despite the Company's
fulfilment of its legal obligations and its development of the Ro?ia Montan? Project as a high-quality, sustainable and
environmentally-responsible mining project, using best available techniques, Romania has blocked and prevented implementation of
the Ro?ia Montan? Project without due process and without compensation. Accordingly, the Company's current core focus is the ICSID
Arbitration. For more information please visit the Company's website at www.gabrielresources.com.
Forward-looking Statements
This press release contains "forward-looking information" (also referred to as "forward-looking statements") within the meaning
of applicable Canadian securities legislation. Forward-looking statements are provided for the purpose of providing information
about management's current expectations and plans and allowing investors and others to get a better understanding of the Company's
operating environment. All statements, other than statements of historical fact, are forward-looking statements.
In this press release, forward-looking statements are necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive
uncertainties and contingencies that may cause the Company's actual financial results, performance, or achievements to be
materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop
forward-looking statements include, without limitation, the uncertainties associated with: the ICSID Arbitration, actions by the
Romanian Government, conditions or events impacting the Company's ability to fund its operations (including but not limited to the
completion of further funding noted above) or service its debt, exploration, development and operation of mining properties and the
overall impact of misjudgments made in good faith in the course of preparing forward-looking information.
Forward-looking statements involve risks, uncertainties, assumptions, and other factors including those set out below, that may
never materialize, prove incorrect or materialize other than as currently contemplated which could cause the Company's results to
differ materially from those expressed or implied by such forward-looking statements. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or
performance (often, but not always, identified by words or phrases such as "expects", "is expected", "is of the view",
"anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential",
"possible" or variations thereof or stating that certain actions, events, conditions or results "may", "could", "would", "should",
"might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements
of fact and may be forward- looking statements.
Numerous factors could cause actual results to differ materially from those in the forward-looking statements, including without
limitation:
• delay or extension to the duration of the ICSID Arbitration;
• required disclosure, costs, process and outcome of the ICSID Arbitration against Romania;
• changes in the liquidity and capital resources of Gabriel, and the group of companies of which it is directly or indirectly
parent ("Group");
• access to funding to support the Group's continued ICSID Arbitration and/or operating activities in the future;
• equity dilution resulting from the conversion or exercise of new or existing securities in part or in whole to Common Shares;
• the ability of the Company to maintain a continued listing on the TSX Venture Exchange or any regulated public market for trading
securities;
• the impact on business strategy and its implementation in Romania of: unforeseen historic acts of corruption, uncertain fiscal
investigations;
uncertain legal enforcement both for and against the Group and political and social instability;
• regulatory, political and economic risks associated with operating in a foreign jurisdiction including changes in laws,
governments and legal regimes and interpretation of existing and future fiscal and other legislation;
• volatility of currency exchange rates, metal prices and metal production;
• the availability and continued participation in operational or other matters pertaining to the Group of certain key employees and
consultants;
and
• risks normally incident to the exploration, development and operation of mining properties.
This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements.
Investors are cautioned not to put undue reliance on forward-looking statements, and investors should not infer that there has
been no change in the Company's affairs since the date of this press release that would warrant any modification of any
forward-looking statement made in this document, other documents periodically filed with or furnished to the relevant securities
regulators or documents presented on the Company's website. All subsequent written and oral forward-looking statements attributable
to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice. The Company disclaims any
intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or
factors, whether as a result of new information, future events or otherwise, subject to the Company's disclosure obligations under
applicable Canadian securities regulations. Investors are urged to read the Company's filings with Canadian securities regulatory
agencies which can be viewed online at www.sedar.com.
ENDS
SOURCE: Gabriel Resources Ltd.
