Toronto, Ontario--(Newsfile Corp. - May 18, 2023) - Eric Sprott announces that, on May 17, 2023, 3,950,000 common share purchase warrants (Warrants) of Gossan Resources Limited. expired unexercised representing a decrease in holdings of approximately 5.0% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned 7,900,000 Shares and 3,950,000 Warrants representing approximately 11.8% of the outstanding Shares on a non-diluted basis and 16.7% on a partially-diluted basis assuming the exercise of such Warrants. As a result of the Warrant expiry, Mr. Sprott now beneficially owns 7,900,000 Shares representing approximately 11.8% of the outstanding Shares on a non-diluted basis.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Gossan Resources Limited is located at Suite 404-171 Donald St., Winnipeg, Manitoba R3C 1M4. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

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