Burlington, Ontario (July 10, 2018). Getchell Gold Corp. (formerly Wabi Exploration Inc.) (CSE: WAB) (“Getchell Gold” or the “Company”) provides a corporate and operational update on the previously announced Arrangement Agreement with Buena Vista Gold Inc. (“BVG”), and provides assay results from surface sampling at three of BVG’s Nevada assets.

The Company has submitted the Listing Statement to the Canadian Stock Exchange for review and is now awaiting comments. Assuming eventual conditional approval of the Listing Statement, Getchell Gold will call a meeting of its shareholders to vote on the Arrangement Agreement and other items. An extension to the Arrangement Agreement has been signed extending the agreement to August 31, 2018. The due date for the $25,000 Promissory Note issued by the Company to BVG has been extended to December 31, 2018.

Hot Springs Peak is one of the six assets in BVG’s portfolio being acquired by Getchell Gold under the Arrangement Agreement. The other five assets in BVG’s Nevada portfolio are in the Buena Vista Valley, approximately 60 kilometers south-south west of Winnemucca. A NI 43-101 report (the “HSP Report”) was commissioned by BVG on only the Hot Springs Peak Property near Winnemucca, Nevada. The HSP Report was completed in June of 2017. With the author’s and BVG’s consent, Getchell Gold filed a copy of the HSP Report at SEDAR.

The press release dated June 4, 2018 summarized the additional exploration activities undertaken by BVG at its Hot Springs Peak and the Buena Vista Valley properties. BVG had indicated to the Company that during the course of investigating the airborne magnetic survey, there would be follow up on any additional geophysical survey plans and surface sampling results. Additional sampling and mapping of mineralized structures and alteration were conducted on the Buena Vista Project, primarily at the Star Point and Star South project areas as part of planning an IP/Resistivity survey. In addition, the turquoise occurrence discovered in the southern portion of the Hot Springs Peak Project during prior BVG investigations was also sampled and analyzed for metal content. The assay results have been received and are summarized below:         

The copper % of 3.23, 2.65 and 1.81 contain tenorite, a copper oxide found in the surface weathering environment overlying primary copper sulfide mineralization. Management believes a supergene enrichment zone of enriched copper sulfide is common below the copper oxide zone where copper precipitates on top of the primary copper sulfide, and is an exploration target primarily at Star Point. The 3.86% copper at Hot Springs Peak occurs in turquoise veined mafic breccia overlying a strong IP geophysical anomaly and is one of the locations permitted for drilling.

[*Sampling was carried out by the Qualified Person. Preparation of samples were performed by ALS Minerals Labs,
according to certified standards for reporting results. Internal standards were completed by ALS. All samples were assayed by fire-AA finish for gold and silver. Inductively Coupled Plasma (ICP) analyses were completed on all samples for other metals. Copper analyses greater than the ICP upper detection limit of 1% copper are routinely assayed for copper percent. Readers are cautioned that sampling is selective by nature and represents only the site sampled and not intended to be extended over large areas.]

Prior sampling by BVG had identified higher level copper and gold values at Star South. The current sampling at Star Point and Star South was intended to determine the copper mineralogy and mineralized structural directions for use in determining which geophysical method may best be applied to develop drill targets.

An IP/Resistivity survey has been planned for Star Point and Star South, which are 2 kilometers apart. The survey is designed to detect any copper sulfide concentrations that may occur under the copper oxide mineralization to develop drill targets. The IP Survey also includes an exploration line across a marble and decalcification area more commonly associated with Carlin Style alteration. This area is 3 kilometers south of the Star South Project Area. The 5-kilometer length between the 3 project areas is 100% controlled by BVG.

The technical part of this report was written by Timothy Master, author of the HSP Report and a Qualified Person for Buena Vista Gold Inc. and Getchell Gold Corp. as that term is defined in NI 43-101. Sample data disclosure has been verified as conforming to NI 43-101, 3.2 (a) to (c) where the QP collected the representative samples of the sites and cross checked the different analytical methods used to confirm consistent results between ICP and assay results.

The Company has entered into two separate agreements to conditionally sell its three British Columbia exploration and evaluation properties and its Ontario net smelter return royalty to two arms-length parties. These properties were deemed as non-core assets and their sale by the Company is a condition of the Arrangement Agreement. Consideration for the sales is the extinguishment of the convertible debenture including accrued interest thereon, and the extinguishment of advances payable. These two transactions are contingent upon, and will be effective on, the closing of the transactions contemplated by the Arrangement

For further information contact:

Peter M. Clausi CEO
1 416 890 1232
pclausi@brantcapital.ca
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