Gatling Extends Multiple Zones Beyond the 2021 Mineral Resource Estimate Model at the Bear Deposit Including 9.4 g/t Au over 4.0 m at the Larder Gold Project, ON

Table 1. Drill Hole Highlights

** Note true widths are estimated at 80 - 95% of the reported core length interval

Gatling Drill Update Highlights

• High-grade gold intersected outside 2021 Mineral Resource Estimate at the Bear Deposit. Since completion of the 2021 MRE at the Larder Gold Project, Gatling has utilized all block models and wire frame models for exploration across all three deposits (Figure 1). The recent focus at the Bear deposit has been extremely successful in extending all mineralized footprints along strike and at depth including 9.4 g/t Au over 4.0 m in drillhole GTR-21-139, which has closed a large block model gap up plunge from the core of the deposit (Figure 4). This hole was designed to close a large 300 m data gap where drillholes had not been completed before and piercing the center point of this gap now provides the gold mineralization needed to connect the block model up and down plunge within 100 m.
• Low-grade widespread mineralization combined with high-grade narrow gold zones indicate presence of structural controls. Gatling's three gold deposits sit along the prolific Cadillac Larder Lake Break which hosts multiple zones of structural complexities. Gatling has been able to prove the presence of steeply dipping plunge lines to the east and areas where gold is intersected in low-grade widespread haloes indicates proximity to a repeating set of these structures. In holes GTR-21-137, and GTR-21-138 the low-grade intersections are on the eastern side of the high-grade plunge line that was identified in drillhole GTR-21-132 which returned a value of 25.3 g/t Au over 4.0 m, thus providing exploration opportunities east of this mineralized zone to find another high-grade plunge line.
• Exploration at Bear West Zone yields positive results. Recent drilling at the Larder Gold Project during Q4 2021 has been focused on expanded current zones and testing new mineralized horizons near the Bear deposit. As the drill program advanced westerly towards Cheminis, the drilling has identified new gold zones 750 m from the core of the Bear deposit within three drillholes, GTR-21-144, GTR-21,147 and GTR-21-148, which includes 4.2 g/t Au over 3.0 m and 5.9 g/t Au over 2.0 m in both the north and south zones (Figure 5). Gatling plans to explore this horizon in Q1/Q2 2022 up and down plunge from these new mineralized zones to further connect the Bear and Cheminis deposits together.
• Positive initial results from untested Bear East Zone. Gatling has encountered near surface mineralization in drillholes GTR-21-141 and GTR-21-150 which intersected 2.9 g/t Au over 1.5 m and 14.7 g/t Au over 1.5 m respectively in the upper 150 m (Figure 3). This mineralized zone is 600 m east of the core of the Bear deposit and is in an area that is extremely underexplored and will be a focal point of adding additional volume and ounces to the current 2021 MRE.

Figure 1. Larder Gold Project long section showing the new gold mineralized zones beyond the 2021 MRE model identified from recent drill results at the Bear deposit during the ongoing 2021 drill campaign.

Figure 2. Geological plan map of the ongoing drill campaign at the Larder Gold Project with multiple mineralized lenses at each zone and recent drill hole traces.

Figure 3. Bear Deposit long section showing the location of recent drill results, new mineralized zones extended from the 2021 MRE model and gold contours connecting the core of the Bear deposit up and down plunge.

Figure 4. Cross Section of 600800E at the Bear deposit displaying 100 m infill extensions of the 2021 MRE block model

Figure 5. Cross Section of 600050E at the Bear deposit displaying new mineralized zones extending at depth outside of the 2021 MRE block model

The Company also advises that it has cancelled the private placement announced in its news release of October 18, 2021.

QA/QC

Drill core is logged and sampled at the Larder Gold project site. Core samples from the program are cut in half, using a diamond cutting saw with half sent for assay at SGS lab in Cochrane, Ontario. The other half is secured and retained on site. All samples are analyzed for gold using standard Fire Assay-AA techniques. Samples returning greater than 5.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric methods. Certified reference standards and blanks are routinely inserted into the sample stream as part of Gatling's quality control/quality assurance program.

About Gatling Exploration

Gatling is a Canadian gold exploration company focused on advancing the Larder Gold Project, located in the prolific Abitibi greenstone belt in Northern Ontario. The Larder project hosts three high-grade gold deposits along the Cadillac-Larder Lake Break, 35 km east of Kirkland Lake. The Larder property has a global Mineral Resource Estimate (2021) of 388,000 oz Au Indicated and 933,000 oz Au Inferred gold ounces from both open pit and underground resources. The project is 100% owned by Gatling and is comprised of patented and unpatented claims, leases and mining licenses of occupation within the McVittie and McGarry Townships. The 3,370 ha project area is positioned 7 km west of the Kerr Addison Mine, which produced 11 million ounces of gold. All parts of the Larder property are accessible by truck or all-terrain vehicles on non-serviced roads and trails.

Qualified Person

The technical content of this news release has been reviewed and approved by Nathan Tribble, P. Geo., VP Exploration of Gatling Exploration, and a Qualified Person pursuant to National Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS,

Jason Billan, President and CEO
Gatling Exploration Inc.

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Forward Looking Statements:

Forward-looking statements are based on the current opinions and expectations of management. This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: Gatling Exploration Inc.