GILXF - Gitennes Options Snowbird High Grade Gold Project

(TheNewswire)

Vancouver, B.C. - TheNewswire - February 10, 2021 - Gitennes Exploration Inc. ("Gitennes" or the" Company ") – (TSXV:GIT) (OTC:GILXF) announces that it hasoptioned its Snowbird High Grade Gold Project located near Fort St.James, British Columbia.  The Company has entered into an optionagreement (the “Agreement”) with Plutus Gold Corp. (“Plutus”)whereby Plutus is required to expend sufficient funds on explorationin order to complete Gitennes’ 100% earn-in of the Snowbird Project. With the signing of the Agreement Plutus has paid Gitennes $25,000and Gitennes will receive C$2.0 million in common shares.

Gitennes has an option to earn 100% of Snowbird bycompleting $1.5 million in exploration expenditures by September 20,2021.  Gitennes has completed approximately $1.03 million in work onSnowbird and has made all required payments to the underlying owners. Under the agreement with Gitennes, Plutus must expend $500,000 onSnowbird by June 30, 2021 or the agreement with Plutus will terminate. Plutus is a private exploration company and is seeking a listing ofits shares on a Canadian stock exchange.  Under the Agreement Plutusmust be listed on a recognized stock exchange by April 16, 2021 orGitennes will receive an additional 10% in shares and if Plutus is not listed on arecognized stock exchange by the first anniversary of the AgreementGitennes will receive Plutus shares at $0.10 per share equal to 22million common shares.

Snowbird Project Highlights

• - Orogenic , high grade , goldproject;

  - Displays similar characteristics to MotherlodeDistrict, California & Bralorne Mine, BC;

  • - Snowbird has: Grade; Structure, Alteration,Depth;

  - Target is 25 to 150 metre wide alterationzone, approximately 4.8 km long;

  - Gitennes has drilled 30 holes totaling approximately 4,820 metres;

  - Gitennes drilling consistently confirm ed the presence of high gradegold;

  • - Intersected its highest grades along a mudstone-ultramafic contact;

    - 85% of all anomalous gold values occur along the mudstone-ultramaficcontact;

  - Deepest hole on project drilled by Gitennes – 400metres (300 metre vertical depth);

  - Future drilling will require deep holes as Gitennesdeepest hole did not cross the key contact.

Highlights from GitennesDrilling

• - 19.3 g/t goldand 33.5 g/t silver over 0.6 metres * - SB19-06;

  - 18.3 g/t goldover 0.5 metres - SB19-06;

  - 9.7 g/t goldover 1.2 metres  - SB19-07;

  • - Including 12.95 g/t gold over 0.7 metres;

  - 11.32 g/t gold over 1.32 metres including 15.85 g/t gold over0.82 metres – SB18-06;

  - 16.25 g/t gold over 1.0 metre – SB17-04.

* The above mineralized widthsare downhole widths.  True widths are not known at this time.

About Gitennes ExplorationInc.

Gitennes is in the business of exploring for andadvancing mineral properties with a focus on high grade gold.  TheCompany currently has four properties in Quebec: JMW, RAL, New Mosherand Maxwell, the Snowbird gold property in British Columbia and a 1.5%Net Smelter Return royalty on the 18 million ounce (43-101 compliant)Urumalqui silver resource in Peru.  JMW and Maxwell are 100% owned byGitennes.  RAL and New Mosher are under option and Gitennes can earnan initial 70% and has the right to increase its ownership to85%.

Qualified Person

The scientific and technical information contained inthis news release has been reviewed and approved by Wayne Holmstead(P.Geo.), technical adviser to the Company who is a "qualifiedperson" within the meaning of National Instrument 43-101.

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

Gitennes Exploration Inc.

“Ken Booth”

Ken Booth
President

For further information, please contact:        KenBooth, 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.

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 Snowbird Project and to conductexploration activities thereon.  Actual results could differ fromthose 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 statements containedin this news release are made as of the date of this news release and,except as otherwise required by law, the Company undertakes noobligation to update the forward-looking statements contained herein,or to update the reasons why actual results could differ from thoseprojected in these forward-looking statements.

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