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Vancouver, British Columbia-(Newsfile Corp.-December 8, 2021)-Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or "Company") is pleased to announce that the company has executed A contract was signed to ensure the safety of two drilling rigs throughout 2022 to conduct exploration in the company's Nevada project.

“Our discoveries in the Southwest and North Fork gold fields in Colorado and successful follow-up drilling results indicate that the extensive mineralization system of the Fontaway Canyon gold project is still open to depth and direction. The purchase of a second drilling rig will promote Getchell Gold Corp. . President Mike Sieb said, “Accelerate the advancement and describe these findings more broadly. In addition, the second rig next year will increase our news flow and allow the highly anticipated first drilling program at Star Heights. Grade copper, gold and silver projects. "

Register now: The company invites all interested investors and media to join the Getchell Gold team and participate in the on-site discussion and discussion of the "Getchell Gold Introduction" that will be held on December 16th at 11 am Pacific Standard Time and 2 pm Eastern Standard Time. For the highlights of exploration in 2021, the registration link is as follows: https://bit.ly/3onaHiK

Getchell Gold Corp. has signed a contract ("Drilling Contract") with First Drilling LLC ("First Drilling") headquartered in Montrose, Colorado, and its regional office is located in Elko, Nevada. The drilling contract guarantees the service of two core drilling rigs for the 2022 drilling season.

The company plans to use these two drilling rigs in the Fondaway Canyon gold mine project for further exploration and resource definition, and to conduct the first drilling plan in the Star high-grade copper, gold and silver project.

Fondaway Canyon 2nd Anniversary Option Payment

The definitive option agreement to acquire 100% of the Fondaway Canyon and Dixie Comstock project (the "Project") was executed on January 3, 2020 (the "Canagold Agreement"). According to the terms of the Canagold Agreement, Getchell may issue a total of US$2 million in cash to Canagold Resources Ltd. (formerly Canarc Resources Corp. ("Canagold")) at any time on or before the 4th anniversary of the Canagold Agreement. U.S. dollar Getchell stock, completed exploration expenditures of $1.45 million, and granted Canagold a 2% net smelter return ("NSR") in each project. Each item can be purchased for 1 percent of NSR at a price of $1,000,000 (for details, please refer to the company's press release on January 7, 2020).

The company’s board of directors has approved the 2nd anniversary cash payment of US$100,000 and issued US$300,000 of the company’s shares before the anniversary. To date, the exploration expenditures incurred in the Fondaway 2020 and 2021 drilling plans (please refer to the company’s news released on November 13, 2020 for more details) far exceed the exploration expenditure requirements for the 2nd anniversary and ensure access to Fondaway Canyon Gold's option until 2022, the project will remain in good condition.

Core samples from the 2021 drilling plan of the Fondaway Canyon gold project are being prepared and analyzed in the Bureau Veritas Laboratory in Sparks, Nevada. On November 22, 2021, Bureau Veritas publicly announced that on Saturday, November 20, 2021, Bureau Veritas' network security system detected a cyber attack. As a precautionary measure and to protect its customers, Bureau Veritas takes its servers and data offline while evaluating and resolving problems. This decision caused part of their services to become unavailable or slow.

Therefore, the fire analysis and multi-element analysis of the Getchell sample were delayed due to the incident. Fortunately, the preparatory work (ie core cutting, crushing, and crushing) of samples for complete analysis continues unabated.

Bureau Veritas is actively working to resume operations, and as of December 2, 2021, they announced that more than 80% of their operations are operating at a normal level. Therefore, we expect that the analysis of company samples will be fully resumed in the near future.

This incident caused Getchell to postpone the release of the next batch of results for FCG21-11 holes, but once the laboratory resumes full system operation, we expect these results to be released shortly thereafter. It is particularly worth noting that since the pre-analysis preparations for all our laboratory sample batches (wells FCG21-12 to 15) have been in progress during this period, the analysis lag of our unfinished samples should disappear in a short time.

Getchell Gold Corp. further announced that, in accordance with the company's stock option plan, it has granted management, directors, consultants and advisors an incentive stock option to purchase up to 2,300,000 common shares of the company. The options can be exercised at a price of US$0.57 per share within ten years from the date of grant.

The company further announced the issuance of 537,550 common shares of the company to Canagold Resources Ltd. at a recognized price of US$0.71 per share to Canagold Resources Ltd. as the performance of the 2nd anniversary stock issuance obligations under the Canagold agreement detailed above. According to applicable securities laws, the issued shares will have a four-month holding period.

The company reports that it has retained German Mining Network Limited ("GMN"), a resource-focused consulting group headquartered in Germany, to sign a contract with the European Investor Network to facilitate introductions. The agreement with GMN will begin on November 22, 2021 and will last month by month until the company terminates. The company will pay a monthly fee of US$4,800 for the services provided by GMN.

The company is a gold and copper exploration company focused on Nevada, trading in CSE: GTCH and OTCQB: GGLDF. Getchell Gold is mainly dedicated to its most advanced stage asset, Fondaway Canyon, which is a long-established gold producer with important underground historical resource estimates. Complementing Getchell's portfolio is Dixie Comstock, a long-established gold producer with historical resources and two early exploration projects, the Star and Hot Springs Peak projects, both of which have historical production. Getchell has the option to acquire 100% of the properties in Fondaway Canyon and Dixie Comstock in Churchill County, Nevada.

The company reiterated that its near-term strategy of advancing assets is not affected by the COVID-19 coronavirus. The company will continue to monitor the situation and comply with all government guidelines.

For more information, please visit the company's website www.getchelgold.com or contact the company at info@getchelgold.com or +1 647 249-4798.

Mr. William Wagener, Chairman and CEO of Getchell Gold Corp

The Canadian Stock Exchange has not reviewed this press release and assumes no responsibility for the adequacy or accuracy of this press release. Not to be distributed to the U.S. News Agency or disseminated in the United States.

According to Canadian securities laws, certain information contained herein constitutes "forward-looking information." Forward-looking information includes, but is not limited to, statements about private placements and their completion and use of proceeds. Generally speaking, forward-looking information can be identified through the use of forward-looking terms, such as "will" or variations of such words and phrases or statements where certain actions, events or results "will" occur. Forward-looking statements are based on management’s opinions and estimates on the date of making such statements, and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. The differences are through such forward-looking statements or forward-looking information, including: receipt of all necessary regulatory approvals, use of financing proceeds, capital expenditures and other costs, and financing and additional capital requirements. Although Getchell's management attempts to identify important factors that may cause actual results to differ materially from the results contained in forward-looking statements or forward-looking information, there may be other factors that cause results to be inconsistent with expectations, estimates, or expectations. There is no guarantee that such statements will prove to be accurate, as actual results and future events may differ materially from the expectations in such statements. Therefore, readers should not rely excessively on forward-looking statements and forward-looking information. Unless required by applicable securities laws, the company will not update any forward-looking statements or forward-looking information incorporated herein by reference.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107050

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