Gabriel Resources Ltd. ("Gabriel" or the "Company") (TSX:GBU) announces the
publication of its Second Quarter Financial Statements and Management's
Discussion and Analysis Report for the period ended June 30, 2014.


Summary 

Capitalised terms used in this summary section are defined in "Further
Information" below.




--  Following the European Parliamentary elections of May 2014, political
    activities in Romania are currently focused on the November 2014
    Presidential elections. Any key decisions in respect of permitting of
    the Project are therefore likely to be deferred until the outcome of the
    Presidential elections and the resulting political changes are
    completed. 
    
--  Further TAC meetings were held in April and July 2014, however these
    were inconclusive on next steps for the TAC to recommend a position on
    the environmental assessment of the Project. 
    
--  Given the continued political changes in Romania and the lack of clarity
    regarding the TAC review, the outlook in respect of approval of the
    environmental impact assessment and issuance of an environmental permit
    remains uncertain at this time. This will require a constructive and
    transparent dialogue with the Government regarding the necessary steps
    for completion of various permitting processes of the Project. 
    
--  Repeated delays by the Government to properly address the assessment and
    permitting procedures for the Project necessitated the Company to reduce
    its cost base, which included the termination of 80 per cent of the
    employment contracts of RMGC in May 2014. 
    
--  On May 30, 2014 the Company completed a Private Placement with a number
    of existing shareholders to raise aggregate gross proceeds of $35.0
    million. 
    
--  $58.0 million of cash and cash equivalents were held as at June 30,
    2014. 



Jonathan Henry, Gabriel's President and Chief Executive Officer, stated:

"The forthcoming Presidential elections, to be held in November this year, once
again allow senior politicians to address the importance of the resource
industry in Romania and the need for projects such as Rosia MontanA to be
developed in an environmentally safe and strategic way so that Romania can
become a leading gold producer in Europe. The Company remains fully committed to
constructing and operating a mine at Rosia MontanA but this requires strong
political will in order to proceed with the Project. Until such political will
and tangible progress becomes evident, the Company continues to reduce its
overhead costs and to look for ways to move the Project forward." 


Further information and commentary on the operations and results in the second
quarter of 2014, together with events anticipated in the short term, is given
below. The Company has filed its Unaudited Condensed Interim Consolidated
Financial Statements and Management's Discussion & Analysis on SEDAR at
www.sedar.com and each is available for review on the Company's website at
www.gabrielresources.com.


Further Information

Financial Performance



--  The net profit for the second quarter of 2014 was $0.7 million. 



Liquidity and Capital Resources



--  Cash and cash equivalents at June 30, 2014 amounted to $58.0 million. 
    
--  On May 30, 2014 the Company completed a private placement with a number
    of existing shareholders (the "Private Placement"). A total of 35,000
    units were issued at a price of $1,000 per unit to raise aggregate gross
    proceeds of $35.0 million. Each unit consists of: 
    
    --  $1,000 principal amount of convertible, subordinated, unsecured
        notes with a coupon of 8% (the "Notes"). The Notes mature on June
        30, 2019 and are convertible at any point prior to maturity at the
        option of the holder, into common shares of the Company at a
        conversion price of $1.255 per common share. Interest on the Notes
        is payable semi-annually commencing December 2014; 
        
    --  398 common share purchase warrants (the "Warrants"), which entitle
        the holder to one common share of the Company at a price of $1.674
        at any time prior to June 30, 2019; and 
        
    --  one arbitration value right ("AVR"), which will entitle the holder,
        subject to certain limitations and exclusions, to a pro-rata
        proportion of up to 5% (capped at an aggregate of $130 million) of
        any monies received by the Group pursuant to any settlement or
        arbitral awards irrevocably made in favour of the Group if bi-
        lateral investment treaty proceedings are instituted before June 30,
        2019. The Company retains absolute discretion on whether to
        institute arbitration proceedings and if an arbitration filing is
        made, whether to settle or withdraw such filing, including the terms
        of any settlement or withdrawal. 
        
--  In 2014 the Company has continued with its underlying cost containment
    to preserve capital until such time as the Government moves ahead with
    permitting the Rosia MontanA gold and silver project (the "Project").
    The most significant element of this has been the decision to terminate
    the employment contracts of approximately 400 employees at Rosia Montana
    Gold Corporaton ("RMGC"), effective Q2 2014. There are total associated
    severance payments of approximately $2.6 million, of which approximately
    fifty per cent was paid in Q2 2014 with the remainder payable in Q4
    2014. 
    
--  The Company's average monthly net cash usage during Q2 2014 was $2.6
    million (2013 full year average was $3.9 million, 2012: $4.9 million).
    Further, excluding a reduction in working capital and the RMGC severance
    payments, the Company's average monthly net cash usage during Q2 2014
    was $2.0 million. 



Capital Cost



--  Including interest, financing and corporate costs, the Company estimates
    the capital required to bring the Project into production and to a
    position of positive cash flow is approximately US$1.5 billion. 



Political Environment 



--  In March 2014, the Democratic Union of Hungarians in Romania ("UDMR")
    joined the coalition alliance of the Social Democrat party ("PSD"), the
    Conservative Party ("PC") and the National Union for the Progress of
    Romania ("UNPR") that made up the Government of Romania ("Government")
    led by Prime Minister Victor Ponta, following the withdrawal from
    Government of the National Liberal party ("PNL"). The UDMR was allocated
    certain ministerial and state secretarial offices, including, of
    particular relevance to the Project, the Ministries of Environment and
    Culture. 
    
--  Political activities in Romania in the opening months of 2014 were
    focused on the European Parliamentary elections which took place at the
    end of May. The outcome of these elections was favourable for the PSD.
    The PNL fared less well, ultimately followed by the resignation of its
    leader, Crin Antonescu and the announcement of the "Christian Liberal
    Alliance", an initial alliance with the Liberal Democrat party ("PDL")
    for the Presidential elections that are to be held in November 2014 (to
    be followed by a full merger of the centre-right parties in 2015). 
    
--  The political instability and continual changes to the constituent
    parties in the Government, together with the failed legislative
    initiatives of 2013, including the Special Draft Law noted below, and a
    revised Mining Law, have resulted in a lack of transparency in the
    foreseeable process for permitting the Project during 2014. 
    
--  Looking to the immediate future, the political focus is firmly on the
    Presidential elections. Candidates include Prime Minister Ponta and
    Kelemen Hunor, leader of the UDMR and until recently Minister of Culture
    in the Government prior to his resignation to concentrate on UDMR
    political strategy. Any key decisions in respect of permitting of the
    Project are therefore likely to be deferred until the outcome of the
    Presidential elections and the resulting political changes are
    completed. 
    
--  In light of the current situation, and the repeated delays of the
    Government to properly address the assessment and permitting procedures
    for the Project, a thorough review of all activities associated with the
    development of the Project has been undertaken, with a goal of further
    reducing expenditures to ensure the Company remains financially strong,
    while maintaining, as far as possible, all existing licenses and permits
    in good standing. 
    
--  As noted above, following such review, and subsequent consultation with
    all relevant stakeholders, during the second quarter of 2014,
    approximately 80 per cent of the employment contracts of RMGC employees
    were terminated. 



Special Draft Law in respect of the Project



--  In August 2013, the Government approved and issued a draft law "on
    certain measures related to the exploitation of the gold-silver deposits
    from Rosia MontanA and stimulation and facilitation of mining
    development in Romania" ("Special Draft Law").  
    
--  Parliament established a Special Joint Committee of the Senate and of
    the Chamber of Deputies ("Special Committee") to analyse the Special
    Draft Law which, on November 11, 2013 published its report (the
    "Report"), and voted in favour of a recommendation for the rejection of
    the Special Draft Law. The Report did not propose acceptance or
    rejection of the Project by the Parliament, notwithstanding that
    numerous and wide-ranging conclusions and recommendations were included
    in the Report. 
    
--  On November 19, 2013 the Senate rejected the Special Draft Law, adopting
    the Report drawn-up by the Special Committee and on June 3, 2014 the
    Chamber of Deputies voted in line with the Senate. Therefore the Special
    Draft Law has now been definitively rejected by Parliament. 



Environmental Permit



--  Government approval of the Environmental Permit ("EP") is pivotal to the
    future construction and operational permitting progress of the Project.
    A key factor in the Government decision is the recommendation of the
    Technical Assessment Committee ("TAC") of the Ministry of Environment
    and Climate Change ("MoE"). 
    
--  During 2013, there were four meetings of the TAC with the last of these
    meetings held on July 26, 2013. At that meeting, it was the Company's
    understanding that the TAC had completed all technical review aspects of
    the Environmental Impact Assessment ("EIA") process and was close to
    being in a position to issue a recommendation on the issuance of the EP.
    However, the Report appears to have introduced further delay to the TAC
    process. 
    
--  A number of the recommendations in the Report, particularly relating to
    the preservation of cultural heritage, the risks of cyanide use, the
    utilization of alternative technologies for gold and silver recovery and
    the safety of the tailings management facility have already been
    addressed extensively by the competent authorities or institutions
    charged with assessing the Project, such as the TAC. 
    
--  The Company notes that since his appointment as the Minister of
    Environment in March 2014, Mr. Attila Korodi has been reported as saying
    on several occasions that there could be a number of studies arising
    from the Report that need to be initiated by his Ministry and that two
    recent legal cases that upheld suspending or cancelling certain permits
    obtained for the Project may cause further delay. 
    
--  After an eight month void, a meeting of the TAC was convened on April 2,
    2014, primarily as an opportunity to consider environmental issues
    raised in the Report. RMGC noted its observations at that meeting, and
    subsequently in writing to the MoE, that all material environmental
    issues arising in the Report had been extensively considered at prior
    TAC meetings and, toits understanding, concluded upon by the TAC. No
    formal conclusions were noted at the meeting. 
    
--  Following an additional three months delay, on July 24, 2014 a further
    TAC meeting was held. The principle agenda item was to discuss the MoE's
    indicated requirement for, and the related scope of, a further study on
    the permeability of the Project's tailings management facility, as
    recommended in the Report. The meeting finished without conclusion and
    the TAC members were tasked to consider further their respective
    positions on the need for and scope of the study. Amongst other matters,
    RMGC has submitted that a supplementary study at this stage is not
    necessary and its initiation by the MoE contravenes the environmental
    impact assessment procedure as regulated by law. 
    
--  The Company remains confident that it will comply with, and in some
    aspects exceed, its obligations under EU and Romanian laws for
    environmental protection and guarantees. However, RMGC awaits formal
    feedback and guidance from the Government, the MoE and the TAC as to
    whether further meetings or documentation will be requested before the
    TAC is in a position to issue a recommendation to the Government. 
    
--  Until such time as RMGC can initiate additional, meaningful dialogue
    with the relevant ministries of the Government and the TAC regarding the
    completion of environmental permitting and any proposals for further
    legislative processes through Parliament which may affect the Project,
    the Company remains unable to provide guidance on the timeframes to a
    final decision on environmental permitting of the Project from the TAC
    or the MoE or approval of the EP by the Government. Furthermore, Gabriel
    cannot provide any assurances or estimates of the likely time required
    to address and resolve matters such as those raised in the Report or as
    to the impact of recent events upon the permitting progress of the
    Project.  



Other Permitting



--  Since 2002, when the local council of Rosia MontanA passed resolutions
    approving a zonal urbanism plan designating an industrial zone under the
    footprint of the proposed new mine at Rosia MontanA ("2002 PUZ"), the
    Company has updated the design of the proposed mine, reduced the size of
    the footprint, expanded the protected zones and incorporated a number of
    additional changes to the proposed mine, all arising as a result of
    public consultation. Accordingly, in 2006, an amended PUZ for the
    industrial development area of the Project was initiated, and such PUZ
    was further updated in 2010 ("Industrial Area PUZ"). It is currently
    proposed that, subject to the receipt of the relevant approvals, the
    Industrial Area PUZ will replace the 2002 PUZ. 
    
--  The Industrial Area PUZ is at an advanced stage, albeit there was
    limited progress in 2013. As at March 31, 2014, RMGC had obtained 19 out
    of the total number of 23 endorsements necessary for the approval of
    such PUZ. However, in April 2014, pursuant to a legal challenge launched
    by non-governmental organisations ("NGOs") opposing the Project, one of
    the 19 endorsements was cancelled by court order, as described further
    below. RMGC, together with the relevant authorities, has submitted an
    appeal against this decision. After obtaining all the necessary
    endorsements, the final approval for the Industrial Area PUZ will be
    required to be given by the local councils of Rosia MontanA, Abrud and
    Bucium. 
    
--  In addition, in 2009, the local council of Rosia MontanA initiated the
    process for the zonal urbanism plan for the Rosia MontanA historical
    protected area ("Historical Area PUZ") and, as at the date of this
    document, 10 out of the total of 13 endorsements necessary for its final
    approval have been obtained. 
    
--  The final approval of the PUZs follows after a series of endorsements
    and approvals from various authorities. There can be no assurance that
    the outstanding endorsements will be obtained in a timely fashion, that
    additional endorsements and approvals will not be required or that
    existing endorsements will not be the subject of legal challenge in the
    Romanian courts. 
    
--  While the Company understands there is no formal link between the
    receipt of remaining endorsements for the Industrial Area PUZ, the
    Historical Area PUZ and the EIA review process, it believes that these
    respective remaining endorsements are likely to be obtained on, or
    after, the issuance of the EP. 
    
--  There are a number of general urbanism plans and accompanying local
    regulations ("PUGs") relevant to the Project including the PUG for the
    Rosia MontanA commune (approved in 2002); the PUG for Abrud (approved in
    2002); the PUG for Campeni (approved in 2009); and the PUG for Bucium
    (approved in 1999). According to Romanian legislation, PUGs are required
    to be updated every ten years by the respective local council. 
    
--  During 2012 the validity of the existing PUGs for Rosia MontanA and
    Abrud were extended, for two years pursuant to local council decisions.
    In July 2014 the existing PUGs for Rosia MontanA and Abrud were
    extended, pending the process for obtaining new PUGs, for a maximum term
    of three years. The processes for local councils to obtain new PUGs for
    Rosia MontanA, Abrud and Bucium communes are ongoing and are subject to
    formal approval processes, including public consultation. 



Archaeology and Preservation of Cultural Heritage



--  An archaeological review of the historical mining activity at Rosia
    MontanA is a critical step in the granting of the construction permits
    to build the Project. A number of archaeological discharge certificates
    are required for various parts of the proposed Project footprint. In
    order to obtain such discharge certificates, the Company has conducted
    an extensive program of exploratory and preventative archaeology in
    order to ensure that valuable historical relics in the area are
    uncovered and preserved. 
    
--  In July 2011, the Alba County Directorate for Culture and National
    Patrimony issued a new Archaeological Discharge Certificate ("ADC") to
    RMGC for the Carnic open-pit, which complemented those it already held
    for the Cetate and Jig open-pits. In January 2014, the Suceava Tribunal
    admitted a request for the temporary suspension of the ADC for the
    Carnic open pit and in April 2014 a ruling of the Suceava Court of
    Appeal rejected an appeal against the January 2014 decision. The ruling
    is irrevocable. 



Litigation



--  Key developments that have occurred in legal proceedings concerning the
    Project in the second quarter of 2014 and certain upcoming court
    hearings in the third quarter of 2014 are as follows: 
    
    --  As previously reported, on April 1, 2013 the Bucharest Tribunal
        rejected a claim brought by an NGO which sought the disclosure of
        certain documents pertaining to the Project's mining license. On
        October 2, 2013, the complainant NGO submitted an appeal against
        this decision to the Bucharest Court of Appeal. The appeal, which
        was rejected by Bucharest Court of Appeal on June 6, 2014, is final
        and cannot be appealed further. 
        
    --  The next hearing of a claim filed by three NGOs seeking the
        annulment of the Archaeological Discharge Certificate ("ADC") for
        the Carnic open-pit is scheduled to be heard by the Buzau Tribunal
        on September 8, 2014. An irrevocable decision on the merits of this
        case may not be issued for several months and possibly into 2015.
        This action follows a decision of the Suceava Court of Appeal on
        April 15, 2014 which upheld an earlier court ruling that suspended
        the ADC. The effect of such suspension is temporary, pending the
        irrevocable conclusion of the aforementioned annulment case. 
        
    --  On April 15, 2014, the Covasna Tribunal admitted a request filed by
        two NGOs for the annulment of the Strategic Environmental Assessment
        ("SEA") endorsement, which was issued by the Regional Agency for
        Environmental Protection of Sibiu in March 2011 in respect of the
        Industrial Area PUZ. The SEA is one of a number of endorsements
        required for the Industrial Area PUZ. The ruling is not irrevocable
        and is the subject of an appeal by RMGC and others to the Brasov
        Court of Appeal, the next hearing of which is scheduled to be heard
        on September 18, 2014. 
        
    --  On April 16, 2014, the Bacau Tribunal postponed the hearing of a
        claim initiated by two NGOs seeking the suspension of the SEA
        following the submission by the claimants' lawyers of the decision
        of the Covasna Tribunal on April 15, 2014 (see above). The next
        hearing of this suspension claim is scheduled for September 10,
        2014. 
        
    --  The first substantive hearing of a claim registered by three NGOs
        seeking the annulment of UC-47 is scheduled to be heard the Bistrita
        Tribunal on September 11, 2014. 
        
--  Due to the inherent uncertainties of the judicial process, the Company
    is unable to predict the ultimate outcome or impact, if any, with
    respect to matters challenged in the Romanian courts. In all
    circumstances, the Company and/or RMGC will vigorously maintain its
    legal rights and will continue to work with local, county and federal
    authorities to ensure the Project receives a fair and timely evaluation
    in accordance with Romanian and European Union laws. However, there can
    be no assurance that any claims will be resolved in favour of the
    Company, RMGC or the Project. The implications of a negative court
    ruling will only be known once such a decision is issued formally by the
    relevant Court and the position of the Government is assessed, and may
    have a material adverse effect on the timing and/or outcome of the
    permitting process for the Project and the Company's financial
    condition. 



Other Legal Proceedings



--  In November 2013, RMGC was informed of an investigation by the Ploiesti
    Public Prosecutor's Office ("PPPO") into alleged tax evasion and money
    laundering on the part of the principals/key shareholder(s) of a group
    of companies including Kadok Interprest LLC ("Kadok Group"). The PPPO
    has extended its investigation of the Kadok Group to at least 100 other
    companies, including RMGC, that had entered into commercial business
    relationships with the Kadok Group. 
    
--  RMGC is challenging the legality of a restriction order on the
    equivalent of $0.3 million held in one of RMGC's Romanian bank accounts
    pending the outcome of the PPPO investigation. The restricted amount
    represents the value of the goods procured by RMGC from the Kadok Group
    during 2012, all of which were received and paid for in full by RMGC,
    including related sales tax. RMGC no longer has any business
    relationship with Kadok Group. RMGC is continuing to cooperate fully
    with the PPPO and to provide evidence to the PPPO of its legitimate
    business dealings with the Kadok Group. 



Outlook



--  The Company's key objectives in the short term include to: 
    --  Continue efforts to engage formally with the Government and its
        agencies for permitting the Project; 
    --  Continue to highlight the key economic, environmental, social and
        cultural benefits brought to Romania by the Project in order to
        demonstrate the merits of the Project to all stakeholders; 
    --  Understand and progress to finalization and completion the measures
        required to obtain approval of the EP; 
    --  Continue appropriate stewardship of cash resources; and 
    --  Maximize shareholder value, while optimizing benefits of the Project
        to all stakeholders. 



About Gabriel

Gabriel is a Canadian TSX-listed resource company focused on permitting and
developing its world-class Rosia MontanA gold and silver project. The
exploitation license for the Project, the largest undeveloped gold deposit in
Europe, is held exclusively by Rosia MontanA Gold Corporation, a Romanian
company in which Gabriel currently owns an 80.69 percent equity interest, with
the 19.31 percent balance held by Minvest Rosia MontanA S.A., a Romanian
state-owned mining enterprise. Gabriel and RMGC are committed to responsible
mining and sustainable development in the communities in which they operate. The
Project is anticipated to bring over US$24 billion (at US$1,200/oz gold) to
Romania as potential direct and indirect contribution to GDP. The Project will
generate thousands of employment opportunities. Gabriel intends to build a
state-of-the-art mine using best available techniques and implementing the
highest environmental standards whilst preserving local and national cultural
heritage in Romania. 


For more information please visit the Company's website at www.gabrielresources.com.

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 Gabriel's
operating environment. 


These forward-looking statements may include statements with respect to the
future financial or operating performance of the Company and its subsidiaries,
the perceived merit of properties, exploration results and budgets, mineral
reserves and mineral resources estimates, work programs, capital expenditures,
operating costs, cash flow estimates, production estimates and similar
statements relating to the economic viability of a project, timelines, strategic
plans, including the Company's plans and expectations relating to the Project,
the anticipated outcomes of the application processes for permits, endorsements
and licenses, including but not limited to the ongoing review of the
environmental impact assessment, required for the Project, or other statements
that are not statements of fact.


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", "anticipates", "believes", "plans",
"projects", "estimates", "assumes", "intends", "strategy", "goals",
"objectives", "potential", "possible" 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.


Forward-looking statements are based upon certain assumptions and other
important factors regarding present and future business strategies and the
environment in which the Company will operate in the future, which could prove
to be significantly incorrect.


Forward-looking statements are inherently subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company and/or its subsidiaries to
be materially different from those expressed or implied by such forward-looking
statements. These risks, uncertainties and other factors include, without
limitation, the political and economic risks of operating in Romania, including
those related to controls, regulations, political or economic developments and
government instability in Romania; uncertainty of estimates of capital costs,
sustaining capital costs, operating costs, production and economic returns;
permitting risks, including the risk that permits and governmental approvals
necessary to develop and operate the Project will not be available on a timely
basis or at all, risks of maintaining the validity and enforceability of
necessary permits and risks of replacing expired/cancelled permits and
approvals; uncertainties relating to the assumptions underlying the Company's
mineral resource and mineral reserve estimates, such as metal pricing,
metallurgy, mineability, marketability and operating and capital costs; risk
related to the acquisition of all necessary surface rights for the development
of the Project, including the risk that the Company may not acquire all such
rights, or acquire such rights at acceptable prices; risks related to the
Company's ability to commence production and generate material revenues or
obtain adequate financing for its planned exploration and development
activities; risks of defective title to mineral property, including the risk of
successful legal challenges to the validity of the Company's exploitation
license; risks related to the Company's ability to finance the development of
the Project through external financing, strategic alliances, or otherwise;
litigation risks, including the uncertainties inherent in current and future
legal challenges relating to the Project; risks related to the availability of
infrastructure, water, energy and other inputs; 

uncertainty inherent in litigation including the effects of discovery of new
evidence or advancement of new legal theories, the difficulty of predicting
decisions of judges and the possibility that decisions may be reversed on
appeal; uncertainties relating to prices for energy inputs, labour, material
costs, supplies and services (including, but not limited to, labour, cement,
steel, capital equipment, reagents and fuel); risks related to changes in law
and regulatory requirements, including environmental regulation; risks related
to the subjectivity of estimating mineral resources and mineral reserves and the
reliance on available data and assumptions and judgments used in interpretation
of such data; risks related to currency fluctuations, particularly in the value
of the United States dollar and/or the Canadian dollar relative to each other
and to the Euro and the Romanian leu; risks related to the future market prices
of gold and silver and other mineral and commodity price fluctuations, and
volatility in metal prices; risks related to the need for reclamation activities
on the Company's properties and uncertainty of cost estimates related thereto;
risks associated with maintaining substantial levels of indebtedness, including
potential financial constraints on operations; dependence on cooperation of
state-owned joint venture partner in the development of the Project; risks
related to the loss of key employees and the Company's ability to attract and
retain qualified management and technical personnel; risks related to market
events and volatility of global and local economic climate; taxation, including
change in tax laws and interpretations of tax laws; mining and development
risks, including risks related to infrastructure, accidents, equipment
breakdowns, labour disputes or other unanticipated difficulties with or
interruptions in development, construction or production; risks related to
opposition to the Project from non-governmental organizations or civil society;
share capital dilution and share price volatility; and increased competition in
the mining industry.


Forward-looking information contained herein is made as of the date of this
press release. There can be no assurance that forward-looking information or
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information or statements.
Accordingly, for the reasons set forth above, readers should not place undue
reliance on forward-looking statements. The Company does not undertake to update
any forward-looking statements, except in accordance with applicable securities
laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Gabriel Resources Ltd.
Jonathan Henry
President and Chief Executive Officer
Mobile: +44 7798 801783
jh@gabrielresources.com


Gabriel Resources Ltd.
Max Vaughan
Chief Financial Officer
Mobile: +44 7823 885503
max.vaughan@gabrielresources.com


Buchanan
Bobby Morse
+44 20 7466 5000
bobbym@buchanan.uk.com