GFG Acquires Claims at Pen Gold Project and Provides Corporate Update
Media Release
TSX.V: GFG | OTCQB: GFGSF
GFG Acquires Claims at Pen Gold Project and Provides Corporate Update
March 21, 2025, Saskatoon, Saskatchewan, Canada: GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG”
or the “Company”) has acquired strategic claims within the Company’s Pen Gold Project located west of Timmins, ON.
The Company paid a total purchase price of C$4,500 to acquire a 100% ownership of the claims.
In addition, and pursuant to the Company’s annual executive compensation program, the Company announce s that it has
granted stock options to directors and officers to purchase up to an aggregate of 3,812,000 common shares of the Company.
The stock options have various vesting periods and are exercisable for a period of five years at a price of $0.195 per common
share, being the closing price on March 17, 2025. All options were granted pursuant to the Company’s stock option plan.
Lastly, as previously reported on March 6, 2025, the Company will issue 111,111 common shares of the Company to Apitipi
Anicinapek Nation pursuant to its recently signed exploration agreement. The issuance of common shares of the Company
is subject to the approval of the TSX Venture Exchange.
About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining
jurisdictions. The Company operates three gold projects, each hosting large and highly prospective gold properties within
the prolific gold district of Timmins, Ontario, Canada. The projects have similar geological settings that host most of the
gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold.
For further information, please contact:
Brian Skanderbeg, President & CEO
or
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930
Email: [email protected]
Website: www.gfgresources.com
Stay Connected with Us
X (Twitter): @GFGResources
LinkedIn: https://www.linkedin.com/company/gfgresources/
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained in this news release constitute “forward-looking information” within the meaning of applicable Canadian
securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as “forward-
looking statements”). Forward-looking statements include, but are not limited to, the Company’s future exploration plans with respect to its property interests and the
timing thereof, the prospective nature of the p rojects, future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency
exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental risks, unanticipated reclamation expenses, title
disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such
as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”,
or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, “may”, “could”, “would”, “will”, “might” or
“will be taken”, “occur” or “be achieved” or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the assumed long-term price
of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour,
and that the political environment within Canada will continue to support the development of mining projects. In addition, the similarity or proximity of other gold deposits
to the Company’s projects is not necessary indicative of the geological setting, alteration and mineralization of the Goldarm Property, the Pen Gold Project and the Dore
Gold Project.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or
achievements of GFG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: actual results of current
exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; availability of capital ,
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delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties and the additional risks described in the Company’s
most recently filed annual and interim MD&A are not and should not be construed as being exhaustive.
Although GFG has attempted to identify important factors that could cause actual results to differ materially from those cont ained in forward-looking statements, there
may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of
providing information about management’s current expectations and plans and allowing investors and others to get a better understanding of our operating environment.
Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and GFG assumes no obligation to update any forward -looking statements, except as
required by applicable laws.