GIT:CC - Gitennes Receives TSX Venture Exchange Approval for the Acquisition of its Third Battery Metals Property in Quebec

(TheNewswire)

Vancouver, B.C., - TheNewswire - July 27, 2023: Gitennes Exploration Inc. ("Gitennes" or the"Company") – (TSXV : GIT) announces that further to itsnews release dated March 1, 2023 the TSX Venture Exchange has approvedthe acquisition of the Blue Ice property (“Blue Ice”) locatedapproximately 100 km northeast of Sept Iles, Quebec.  Blue Icemineralization is hosted in pegmatites and has been historicallysampled by Gitennes with assays returning high grade Heavy Rare EarthElements (“HREE”), niobium and tantalum.

The Blue Ice property is Gitennes’ third batterymetals property in Quebec along with its Sept Iles nickel and its SeptIles Rare Earth Element properties which were acquired in May 2023 andare also located in the Sept Iles region.

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;

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

• With the acquisition of the four claims Blue Ice nowconsists of 119 contiguous claims totaling 6,462 hectares.  Inaddition to the four claims, Gitennes staked and owns 100% of 115claims.

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

The TSX Venture has approved the acquisition of fourclaims under two separate option agreements that gives the Company theright to acquire 100% of the claims.

The first option agreement for one claim pays thevendor $10,000 and issues 100,000 shares. Gitennes must expend $50,000on exploration on the claim within 12 months of signing the agreement.  A 1.5% NSR will be granted tovendor.

The second option on three claims pays the vendors$75,000 by the second anniversary of the signing of the agreement andGitennes will issue 300,000 shares by the third anniversary of theagreement.  Exploration expenditures by Gitennes will total $600,000over three years with the first $100,000 required to be spent within18 months of the signing of the agreement. A 1.5% NSR will be grantedto the vendors.

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 its Canadianregulatory 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 believesthat the beliefs, plans, expectations and intentions contained in thisnews release are reasonable, there can be no assurance that thosebeliefs, plans, expectations or intentions will prove to be accurate. Readers should consider all of the information set forth herein andshould review the Company’s periodic reports filed from time-to-timewith Canadian securities regulators.  These reports and the Company'sfilings are available 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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