FREE

GTCH: Provides Update on Legal Proceedings & Continues Work

What you need to know:
• Getchell provided an update on the legal dispute with NV Minerals Corp. over overlapping mining claims at its Fondaway Canyon gold project in Nevada.
• GTCH moved the case to U.S. Federal Court in Nevada and filed counterclaims asserting its own rights to the claims.
• The Company stated that is plans to continue work on the project and reaffirmed its many key catalysts for 2026 including, an updated Mineral Resource Estimate, an updated PEA, and filing a Comprehensive Plan of Operation to accelerate the development at Fondaway.

This morning, Getchell Gold Corp. (GTCH:CSE, GGLDF:OTCQB, GGA1:FWB) provided an update on the legal proceedings in relation to claim staking conducted by NV Minerals Corp., on land coincident with and overlapping certain existing claims of Getchell’s. The Company has removed the lawsuit filed by NV Minerals to the United States Federal District Court, District of Nevada, and filed its verified answer and counterclaims (more details below). We see a high probability of Getchell resolving these legal proceedings and are pleased that the Company has stated its intentions to continue developing the project as originally planned. We are maintaining our BUY rating and target price of C$1.10/share on GTCH.

For more context from the February 23rd release regarding the third-party claim staking. NV Minerals filed a lawsuit alleging that Getchell’s claims were forfeited long ago and is seeking ownership (quiet title) and declaratory relief. In response, Getchell moved the case to the U.S. Federal Court in Nevada and filed counterclaims asserting its own rights to the claims. GTCH believes that NV Minerals complaint is without merit and the mineral claims at Fondaway have been continuously held and maintained by Getchell (and predecessors) in an uninterrupted manner since the mid 1950’s, as is presently reflected in the claims good and active standing in the records of both the United States Bureau of Land Management and Churchill County.

On March 19th, Getchell announced it has begun the next stage of permitting at Fondaway by hiring a firm to prepare a comprehensive Plan of Operation and Nevada Reclamation Permit Application. This would allow for greater site disturbance and support advancement toward full feasibility. Baseline biological and cultural surveys are currently underway and expected to be completed this field season, with the full permit application targeted for submission before year-end.