Gabriel Resources Ltd. - Resignation of Director

LONDON, UK / ACCESSWIRE / September 16, 2024 / Gabriel Resources Ltd. (TSXV:GBU) ("Gabriel" or the "Company") announces that Mr. Daniel Kochav, the nominee of Tenor Capital Management LLC ("Tenor"), has tendered his resignation as a member of the Company's board of directors with immediate effect. Through its affiliate, Enescu Investments, Tenor has waived its right to nominate a successor nominee or observer to the Company's board, also with immediate effect.

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About Gabriel

Gabriel is a Canadian resource company listed on the TSX Venture Exchange. The Company's principal business has been the exploration and development of the Roșia Montană gold and silver project in Romania, one of the largest undeveloped gold deposits in Europe. Upon obtaining the License in June 1999, the Group focused substantially all of their management and financial resources on the exploration, feasibility and subsequent development of the Roşia Montană Project. An extension of the exploitation license for the Roşia Montană Project (held by Roșia Montană Gold Corporation S.A., a Romanian company in which Gabriel owns an 80.69% equity interest, with the 19.31% balance held by Minvest Roșia Montană S.A., a Romanian state-owned mining company) was rejected by the competent authority in late June 2024.

SOURCE: Gabriel Resources Ltd.