GIT:CC - Gitennes Acquires the Highly Prospective Blue Ice Property in Quebec with Pegmatites Containing High Grade Rare Earth Elements / Niobium / Tantalum

(TheNewswire)

Vancouver, BC - TheNewswire - March 1, 2023 - Gitennes Exploration Inc. (" Gitennes " or the" Company ") - (TSXV:GIT) announces that it has assembled aland package in Quebec that has known pegmatites and has beenhistorically sampled by Gitennes with assays returning high gradeHeavy Rare Earth Elements (“HREE”), niobium and tantalum.  Theproperty is located approximately 100 kilometres northeast of SeptIles, Quebec and consists of 119 contiguous claims totaling 6,462hectares.  Of the 119 claims, Gitennes has staked and owns 100% of115 claims and has signed two option agreements to earn 100% of thefour additional claims.

Historical Highlights of theProperty

• Assays from grab samples of:

  • Total Heavy REE – 7,000 ppm;

  • Niobium – 1.86%;

  • Tantalum – 0.48%;

• Three swarms of pegmatite dikes have beenmapped;

  • Pegmatite swarms occur over 1,200 metres from north tosouth;

  • Results are from two separate pegmatite dikes 640metres apart;

  • Only one claim has been mapped, potential for morepegmatites on other claims;

• Property covers a large area of pegmatite dikes with apreviously undocumented occurrence of large crystals of beryl, aberyllium mineral;

• Limited historical exploration on the entireproperty

  • offers an excellent grass-root discoveryopportunity;

• Power line crosses the property, and an active railline is 500 metres away.

Large pegmatite that was sampled and returned heavyREE, niobium and tantalum.

Ken Booth, President states: “This is a very excitingopportunity for Gitennes. The Company has been able to assemble ahighly prospective land package at a low cost that provides Gitenneswith the opportunity to make a grass roots discovery in the lithium– REE space.  Many companies have recently staked properties inQuebec based on map geology but Gitennes’ property not only hasseveral mapped pegmatites but it has key indicator minerals, anddocumented niobium, tantalum, beryllium and REE grades that shows thepotential for lithium bearing pegmatites is very high”.

The Property covers occurrences of extremelycoarse-grained pegmatite that intrude gabbro and norite. Historicallyan individual beryl crystal (5% weight percent Be) in excess of 50kilograms was extracted from the property. Geochemical analyses ofsamples from a few pegmatites on the property suggest that the mineralcolumbite-tantalite is present. This complex mineral is frequentlyassociated with, or in proximity to, lithium/REE-rich pegmatites.While exploration of Blue Ice and its associated pegmatites is in theplanning stages, it is believed that the pegmatites on the propertyare indicative of an occurrence which shows exceptionally highpotential to host lithium and REE / Niobium / Tantalummineralization.

The mineralization historically sampled by Gitennes isin a vertical dike that is up to seven metres wide, has been tracedfor 100 metres and is open along strike.  Gitennes’ mappingidentified three swarms of pegmatite dikes over 1,200 metres with thedikes striking east-west.  Based on well established geologicalmodels, the possibility of finding additionalpegmatites on the property is believed to be excellent.

In addition to 115 claims that Gitennes has staked andowns 100%, the Company has two option agreements on four additionalclaims.  Both option agreements give Gitennes the right to acquire100% of the claims.

The first option agreement for one claim pays thevendor $10,000 and issues 100,000 shares on June 1, 2023.  Gitennesmust expend $50,000 on exploration on the claim within 12 months ofsigning the agreement.  A 1.5% NSR will be granted to vendor.

The second option on three claims pays the vendors$10,000 on signing the agreement, $15,000 when Gitennes completes aprivate placement and $50,000 by the second anniversary of the signingof the agreement.  Gitennes will issue 50,000 shares on signing theagreement, 250,000 shares by the third anniversary of the agreement. Exploration expenditures by Gitennes will total $600,000 over threeyears with the first $100,000 is required to be spent within 18 monthsof the signing of the agreement. A 1.5% NSR will be granted to thevendors.

About Gitennes ExplorationInc.

Gitennes is in the business of exploring for andadvancing mineral properties with a focus on high grade or large tonnage gold deposits .  The Company currently hasfive gold properties in Quebec, JMW, New Mosher, Maxwell, VG Boulderand Serpenphior, the Snowbird gold property in British Columbia and a1.5% Net Smelter Return royalty on the 18 million ounce UrumalquiSilver Project in Peru.  Gitennes owns 100% of its Quebec goldproperties except for New Mosher which is under option wherebyGitennes can earn an initial 70% with the right to increase itsownership to 85%.  The JMW, Maxwell and Snowbird Properties have beenoptioned to other gold explorationcompanies.

Qualified Person – The technical content in this release has been reviewedand approved by Mitchell E. Lavery, P.Geo, who is a Qualified Personas defined by National Instrument 43-101, Standards of Disclosure forMineral Projects.

For further information on the Company, readers arereferred to the Company’s website at www.gitennes.com and itsCanadian regulatory filings on SEDAR at www.sedar.com .

Gitennes Exploration Inc.

“Ken Booth”

Ken Booth
President

For further information, please contact:        KenBooth

Phone:  604-682-7970

Email:  info@gitennes.com

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.

Not for distribution to UnitedStates newswire services or for release, publication, distribution ordissemination directly, or indirectly, in whole or in part, in or intothe United States.

Cautionary Note RegardingForward-Looking Information

This news release includes certain statements thatconstitute "forward-looking information" within the meaningof applicable Canadian securities laws concerning the business,operations and financial performance and condition of the Company. All statements in this news release that are not purely historicalare forward-looking statements and include any statements regardingbeliefs, plans, expectations and orientations regarding the future. Often, but not always, forward-looking statements can be identifiedby words such as "pro forma", "plans","expects", "may", "should","budget", "schedules", estimates","forecasts", "intends", "anticipates","believes", "potential" or variations of suchwords including negative variations thereof and phrases that refer tocertain actions, events or results that may, could, would, might orwill occur or be taken or achieved.  Such forward-looking statementsinclude, among others, statements as to the anticipated business plansand timing of future activities of the Company, including the exerciseof the Option to acquire the New Mosher and Snowbird Projects and toconduct exploration activities thereon.  Actual results could differfrom those projected in any forward-looking statements due to numerousfactors including risks and uncertainties relating to exploration anddevelopment and actual results of exploration activities; the abilityof the Company to obtain additional financing; delays in obtaininggovernmental and regulatory approvals (including of the TSX-V),permits or financing; the need to comply with environmental andgovernmental regulations; potential defects in title to the Company'sproperties; fluctuations in the prices of commodities and preciousmetals; operating hazards and risks; environmental issues andliabilities; and competition and other risks and uncertainties of themining industry.  Although the Company believes that the beliefs,plans, expectations and intentions contained in this news release arereasonable, there can be no assurance that those beliefs, plans,expectations or intentions will prove to be accurate.  Readers shouldconsider all of the information set forth herein and should review theCompany’s periodic reports filed from time-to-time with Canadiansecurities regulators.  These reports and the Company's filings areavailable at www.sedar.com.

Readers are cautioned not to place undue reliance onforward-looking statements.   The forward-looking statementscontained in this news release are made as of the date of this newsrelease and, except as otherwise required by law, the Companyundertakes no obligation to update the forward-looking statementscontained herein, or to update the reasons why actual results coulddiffer from those projected in these forward-looking statements.

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