May 19, 2021
Toronto, Ontario – May 19, 2021 – Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (“Getchell” or the “Company”) has received gross proceeds of approximately $646,730.25 pursuant to the exercise of 2,586,921 share purchase warrants at an exercise price of $0.25 per share. This equates to a 98.8% conversion rate from a total series of 2,618,032 warrants issued in connection with a non-brokered private placement that closed on May 17, 2019.
In combination with the non-brokered private placement closed yesterday (Company news release dated May 18, 2021), the Company has received aggregate gross proceeds of $3,356,855.25. The funds received from the warrant conversion add to a healthy bank account and ensures the Company is well financed for a very active 2021 exploration season.
The 2021 Phase One, 4,000 metre, drill program at the Fondaway Canyon Gold project, host to a sizable historic resource, is expected to start shortly. In addition, the maiden drill program at the high-grade Copper-Gold-Silver Star project, 60 kms to the north, will be sequenced in during the course of the Fondaway Phase 1 drill program.
The Company will provide notification upon the commencement of drilling and intends to provide further details of the Fondaway Phase 1 drill program at that time.