Toronto, Ontario--(Newsfile Corp. - May 10, 2019) - Getchell Gold Corp. (CSE: GTCH) ("Getchell Gold" or the "Company"), reports, further to its press release dated February 21, 2019, it has been notified by the Ontario Securities Commission that the Company has received approval to issue 1,399,402 common shares (or 4.88% of current issued and outstanding shares) from its treasury in satisfaction of claims that may have resulted from the purchase of pre-consolidated GTCH shares via exchange trades executed during the period from December 3, 2018 to December 18, 2018.

A claim must be submitted to CDS Clearing and Depository Services Inc. (CDS) by a Participant no later than 4:00 p.m. (Eastern Time) on May 24, 2019 (the "Expiry Date"). Following receipt of a claim and the supporting documentation from CDS, the Company will review and assess each claim and the supporting documentation to determine if a claim is an eligible claim, and will honour all eligible claims. If a claim is contested by the Company, the Company and the claiming Participant will negotiate in good faith and in a timely matter to resolve the dispute and reach a settlement agreement as soon as possible.

Any persons who may have traded in the Company's shares from December 3, 2018 to December 18, 2018 should contact their broker for further details.

The Company also announces, further to its press release dated May 1, 2019, the correct number of warrants to be amended as to exercise price and expiry date is 2,253,989. The Warrants were initially issued to pursuant to a financing completed on November 2, 2018. Each Warrant entitled the holder to acquire one common share at a price of $0.52 per share until November 2, 2020. The Warrants will be re-priced to an exercise price of $0.25 per share. The expiry date has been amended to the earlier of:

• If, for any 10 consecutive trading days, the closing price of the listed shares exceeds $0.3125, the term of the warrants will be amended to 30 days which 30-day period will commence 7 days from the end of the 10-day trading period; or
• November 2, 2020.

For further information contact the Company at .

William Wagener, Chairman & CEO

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release. Not for distribution to U.S. news wire services or dissemination in the United States.

This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, the Company will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: risks of future legal proceedings; regulatory approval of the issuance of securities, and potential dilution.

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