Issuance of Incentive Stock Options and Deferred Share Units
Issuance of Incentive Stock Options and Deferred Share Units
Page 1 of 2
PRESS RELEASE
FOR IMMEDIATE RELEASE TSXV Trading Symbol: GBU
January 8, 2020
Issuance of Incentive Stock Options and Deferred Share Units
Gabriel Resources Ltd. (“Gabriel” or the “Company”) announces that it has granted an aggregate of
102,704 incentive stock options under the Company’s stock option plan (the “Option Plan”) and
115,944 deferred share units under the Company’s deferred share unit plan (the “DSU Plan”) to
certain directors of the Company as non-cash directors’ fees for Q4 2019 (the “Director Grant”). All
incentive stock options issued under the Director Grant are exercisable for a period of ten years at
$0.49 per share and vest immediately from the date of grant.
The Option Plan allows for the issuance of up to 10% of the issued and outstanding share capital
of the Company in the form of incentive stock options. As of the date hereof, a total of 25,635,711
common shares of the Company are reserved for issuance under the Option Plan, representing
approximately 4.5% of the issued and outstanding share capital. 3, 353,638 common shares of the
Company are currently reserved for issuance under the DSU Plan.
For information on this press release, please contact:
Dragos Tanase
President & CEO
Phone: +1 425 414 9256
Richard Brown
Chief Financial Officer
Phone: +44 7748 760276
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 Roșia Montană gold and silver project in Romania (“Roşia Montană Project”). The Roşia Montană Project, one of
the largest undeveloped gold dep osits 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 Roşia Montană Project is held by Roșia Montană Gold Corporation S.A., a Romanian company in which Gabriel owns an 80.69%
equity interest, with the 19.31% balance held by Minvest Roșia Montană S.A., a Romanian state-owned mining company.
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 Roşia Montană Project. Despite the Company’s fulf ilment of
its legal obligations and its development of the Roşia Montană Project as a high-quality, sustainable and environmentally-responsible mining
project, using best available techniques, Romania has blocked and prevented implementation of the Roşia Montană Project without d ue
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.
Issuance of Incentive Stock Options and Deferred Share Units
Page 2 of 2
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.
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 certai n 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.