Star Metro - Gabriel Announces Management Changes

The Board of Directors sincerely thanks Mr. Tanase for his many years of dedicated service and commitment to the Gabriel group. During his tenure, Mr. Tanase made a significant contribution to the Gabriel group, and the Board wishes him every success in his future endeavours.

The Board has appointed Mr. Nicolae Suciu as Interim Chief Executive Officer of the Company, effective immediately. Mr. Suciu's appointment remains subject to acceptance by the TSX Venture Exchange (the "Exchange"), including acceptance of the Exchange's required Personal Information Form and completion of customary Exchange review and verification procedures.

Mr. Suciu has served Gabriel's Romanian operating subsidiary, Roșia Montană Gold Corporation ("RMGC"), for more than 20 years, most recently as Deputy Managing Director, where he has had responsibility for the company's Legal and Community Relations departments, as well as overseeing engagement with the Romanian governmental authorities responsible for the assessment of the Roșia Montană mining project.

The Board believes that Mr. Suciu's experience, knowledge of the Group's business and long-standing commitment to the Gabriel group positions him well to lead the Group and provide continuity of leadership.

Ms. Anna El-Erian, Chair of the Board, commented: "On behalf of the Board, I would like to thank Dragos for his steadfast commitment to the Gabriel group over many years. He has led the Company and RMGC through a period of significant challenge with dedication, resilience and professionalism. We are grateful for his service and wish him every success in the future."

For information on this press release, please contact:
Anna El-Erian
Chair
c/o Simon Lusty
Group General Counsel
Phone: +44 782 599 3401
[email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements

This press release contains "forward-looking information" (also referred to as "forward-looking statements") within the meaning of applicable Canadian securities legislation. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of the Company's operating environment. All statements, other than statements of historical fact, are forward-looking statements.

In this press release, forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company's actual financial results, performance, or achievements to be materially different from those expressed or implied herein.

Some of the material factors or assumptions used to develop forward-looking statements include, without limitation, the uncertainties associated with: (i) that the Company will receive any required Exchange acceptance of Mr. Suciu's appointment; (ii) that customary Exchange review and verification procedures will be completed on a timely basis; and (iii) the overall impact of misjudgments made in good faith in the course of preparing forward-looking information.

Forward-looking statements involve risks, uncertainties, assumptions, and other factors including those set out below, that may never materialize, prove incorrect or materialize other than as currently contemplated which could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "expects", "is expected", "is of the view", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential", "possible", "plans" or variations thereof or stating that certain actions, events, conditions or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of fact and may be forward-looking statements.

Numerous factors could cause actual results to differ materially from those in the forward-looking statements, including without limitation:

• the Exchange's failure to accept Mr. Suciu's appointment on a timely basis, if at all;

• the impact on financial condition, business strategy and its implementation in Romania of: any allegations of historic acts of corruption, uncertain fiscal investigations, uncertain legal enforcement both for and against the Group, unpredictable regulatory or agency actions and political and social instability;

• changes in the Group's liquidity and capital resources;

• equity dilution resulting from the conversion or exercise of new or existing securities in part or in whole to Common Shares;

• the ability of the Company to maintain a continued listing on the Exchange or any regulated public market for trading securities;

• Romania's actions following inscription of the "Roşia Montană Mining Landscape" as a UNESCO World Heritage site;

• regulatory, political and economic risks associated with operating in a foreign jurisdiction including changes in laws, governments and legal and fiscal regimes;

• global economic and financial market conditions, including inflation risk;

• the geo-political situation and the resulting economic developments arising from the unfolding conflict and humanitarian crisis as a consequence of conflicts such as the Russia-Ukraine war;

• volatility of currency exchange rates; and

• the availability and continued participation in operational or other matters pertaining to the Group of certain key employees and consultants.

This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements.

Investors are cautioned not to put undue reliance on forward-looking statements, and investors should not infer that there has been no change in the Company's affairs since the date of this press release that would warrant any modification of any forward-looking statement made in this document, other documents periodically filed with or furnished to the relevant securities regulators or documents presented on the Company's website. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, subject to the Company's disclosure obligations under applicable Canadian securities regulations. Investors are urged to read the Company's filings with Canadian securities regulatory agencies which can be viewed online at www.sedarplus.ca.

ENDS

SOURCE: Gabriel Resources Ltd.

View the original press release on ACCESS Newswire

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