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Gabriel Announces Closure of ICSID Annulment Proceedings
Gabriel Announces Closure of ICSID Annulment Proceedings
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, ON / ACCESS Newswire / November 5, 2026 / Gabriel Resources Ltd. (TSXV:GBU) ("Gabriel" or the "Company") announces that the proceedings concerning the application by Gabriel and its wholly owned subsidiary, Gabriel Resources (Jersey) Limited, to annul the arbitral award dated March 8, 2024 in their proceedings against Romania (ICSID Case No. ARB/15/31) (the "Annulment Application") have been declared formally closed by the ad hoc committee of the International Centre for Settlement of Investment Disputes ("ICSID") hearing the dispute (the "Annulment Committee").
The parties have been informed that the Annulment Committee expects to issue its decision on the Annulment Application by the end of the week ending Friday, November 13, 2026. The Company will provide a further update upon receipt of the Annulment Committee's decision.
For further information, please contact:
| Anna El-Erian | |
| Chair of the Board | |
| Email: [email protected] | |
| Nicolae Suciu | Simon Lusty |
| Interim Chief Executive Officer | Group General Counsel |
| Email: [email protected] | Email: [email protected] |
| Tel: +40 729 399 407 | Tel: +44 782 599 3401 |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Gabriel
Gabriel Resources Ltd. is a Canadian resource company listed on the TSX Venture Exchange under the symbol GBU. The Company's current focus is pursuing the annulment application and preserving its assets and interests in Romania.
Gabriel holds an 80.69% interest in Roșia Montană Gold Corporation S.A. ("RMGC"), with the remaining 19.31% held by Minvest Roșia Montană S.A., a Romanian state-owned company. RMGC holds the Company's interests in the Roșia Montană gold and silver project. In June 2024, the competent Romanian authority rejected RMGC's application to extend the project's exploitation licence. RMGC is challenging that refusal before the Romanian courts.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation, including statements concerning the expected timing of the Annulment Committee's decision. The expected timing is based on the Annulment Committee's communication to the parties and is subject to change. Actual events may differ materially from those expressed or implied in these statements.
There can be no assurance as to the timing or outcome of the Annulment Committee's decision. The Company also faces significant financial uncertainty, including limited liquidity, outstanding liabilities and the need for additional funding. Further information about risks and uncertainties affecting the Company is contained in its public filings, including its most recent management's discussion and analysis, available at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as at the date of this release. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise such statements.
ENDS
SOURCE: Gabriel Resources Ltd.
View the original press release on ACCESS Newswire
J.Hall--SMC
