/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, Jan. 24, 2024 /CNW/ - Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) (FWB: GGA1) ("Getchell" or the "Company") is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement of units (the "Unit Financing"). Between both tranches, the Company issued a total of 5,000,000 units (the "Units") for gross proceeds of $500,000. Each Unit is comprised of one common share and one common share purchase warrant (a "Unit Warrant"). Each Unit Warrant entitles the holder to acquire an additional common share at a price of $0.15 per common share for two years from the date of issuance.

The proceeds from the Unit Financing will be used to conduct further exploration work on the Company's mining properties and for general working capital.

Corporate

The Company has engaged WA Group LLC. (the "Consultant") as a strategic advisory consultant to the Company for a period of six months. As consideration for its services, the Company will issue the Consultant a total of 225,000 common shares and 225,000 stock options (the "Options"). The Shares will be issued monthly in tranches of 37,500 shares over the course of the Consultant's term, and the Options will be exercisable at a price of $0.15 per share for a period of three years from the grant date. The Consultant and the Company are arm's-length parties.

The securities issued in the second tranche of the Unit Financing, and the securities issued and issuable to the Consultant, are subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities laws. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

About Getchell Gold Corp.

The Company is a Nevada focused gold and copper exploration company trading on the CSE: GTCH, OTCQB: GGLDF, and FWB: GGA1. Getchell Gold is primarily directing its efforts on its most advanced stage, 100% owned, Fondaway Canyon gold project, a past gold producer with a large mineral resource estimate. Complementing Getchell's asset portfolio are the 100% owned; Dixie Comstock, a past gold producer with a historic resource and two earlier stage exploration projects, Star (Cu-Au-Ag), and Hot Springs Peak (Au) projects. Fondaway Canyon and Dixie Comstock properties are located in Churchill County, Nevada.