Gatling Provides Corporate Update from the CEO

Rhea-AI Summary

Gatling Exploration Inc. (TSXV:GTR)(OTCQB:GATGF) reported a strong first quarter of 2021, appointing a new technical advisory board and advancing its 25,000 metre drill program. Key findings at the Fernland deposit include significant intersections, with lengths of up to 200 m, suggesting potential for a starter open pit. A second drill rig is set to arrive in May, enhancing drilling at Fernland, Bear, and Kir Vit. The company also plans metallurgical testing and aims for a resource update by Q3 2021. Gatling's shares are noted to have a valuation gap compared to peers amid regional consolidation activity.

Positive

• Successful first quarter of 2021, with strong progress on drilling.
• High-caliber technical advisory board appointed.
• Impressive drill intersections at Fernland deposit, up to 200 m in length.
• Second drill rig to increase exploration activity in May.
• Upcoming metallurgical testing program and resource update by Q3 2021.
• Favorable regional consolidation trends may boost project valuations.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 26, 2021 / GATLING EXPLORATION INC. (TSXV:GTR)(OTCQB:GATGF) (the "Company" or "Gatling) has recently completed a highly successful first quarter of 2021, which included the appointment of a high caliber technical advisory board and making solid progress through our 25,000 metre drill program. We have demonstrated the strong, near surface potential of the Fernland deposit through a series of impressive intersections of up to 200 m in length that have carried strong grade for an open pit prospect, raising our confidence that the deposit will eventually translate into a nice starter pit. We have now arranged a second drill rig to site, expected by the beginning of May, which will allow us to ramp up drill activity at both the Fernland and Bear deposits in addition to the Kir Vit prospect during the second quarter. During the current quarter, we will commence our metallurgical testing program ahead of cutting off drilling in early Q3 and heading towards our resource update to be completed by the end of the third quarter. From a strategic perspective, the Abitibi greenstone belt has been extremely active on the consolidation front over the past 3 - 6 months, with a number of explorers and developers being acquired, consolidated, or joint ventured, suggesting that the smaller group of remaining projects held in the hands of junior companies should begin to trade at a premium relative to the sector. Closer to home, Agnico Eagle has named their Upper Beaver project flanked on the western side of our land package, as a top-ranked project in their portfolio, with a path towards development and into production by 2027.

We encourage investors to review the latest corporate and technical presentation uploaded to our website (see links below), which provides a material refresh of the technical information following the recent success at the Fernland deposit. In addition, we have also updated our peer group slide which further underscores the material valuation gap that exists in Gatling's shares relative to our set of peers.

https://www.gatlingexploration.com/_resources/presentations/corporate-presentation.pdf

https://www.gatlingexploration.com/_resources/presentations/GTR-Technical-Presentation.pdf

ON BEHALF OF THE BOARD OF DIRECTORS,
Jason Billan, President and CEO

Gatling Exploration Inc.

For further information on Gatling, contact Investor Relations:

Telephone: 1-888-316-1050
Email: ir@gatlingexploration.com

Neither 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.

Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

SOURCE: Gatling Exploration Inc.

View source version on accesswire.com:
https://www.accesswire.com/642109/Gatling-Provides-Corporate-Update-from-the-CEO

FAQ

What milestones did Gatling Exploration achieve in Q1 2021?

Gatling Exploration appointed a new technical advisory board and made significant progress in its 25,000 metre drill program, particularly at the Fernland deposit.

What are the drilling results at the Fernland deposit for GATGF?

The Fernland deposit showed impressive drill intersections of up to 200 m, suggesting strong potential for an open pit development.

What is the significance of the second drill rig for Gatling Exploration?

The second drill rig, arriving in May, will enhance drilling activities at Fernland, Bear, and Kir Vit deposits, increasing exploration efforts.

When is Gatling Exploration planning to update its resource estimate?

Gatling Exploration aims to complete its resource update by the end of Q3 2021.

How does Gatling Exploration's valuation compare to its peers?

Gatling's shares are noted to have a material valuation gap compared to its peer group, highlighting potential investment opportunities.