Gelum Resources Ltd. through its option agreement with Wealth Minerals Ltd. has received assay results for six diamond-drill holes (1340 metres) completed in October at the Eldorado Gold Project. Breccia and veins comprising chalcedonic silica (indicative of a high-level epithermal gold environment) with iron-carbonate and sulphides were intersected in all holes. Holes ELD23-01 (182 metres depth) and ELD23-02 (263 m) were drilled in opposite directions from the same drill pad.

ELD23-01 was designed to test the potential of an interpreted subvertical "feeder" for the east-dipping breccias, and ELD23-02 targeted additional northeast-dipping, sulphide-bearing, siliceous ankerite vein/breccia panels structurally below an approximately 80metre thick panel intersected in hole ELD22-03 drilled in 2022. At a depth of 143.4 m, a 1 cm arsenopyrite vein was intersected at 75o to core and aligns with the downdip extension of the vein; a 0.82 m sample returned 0.743 g/t Au. Both drill hole appeared to intersect the Robson vein, though a 2 m interval between 25 - 27 m that returned 0.231 g/t Au may be the distal expression of the vein.

The Robson vein is described as having a very shallow dip (parallel to slope) and may not strike into the area of these two holes. Three separate intervals ran 0.75 m at 0.294, 0.5 m at 0.605, and 1.37 m at 0.307 g/t Au (true widths estimated at 70-90%). The strong alteration suggests more mineralization could occur beneath the thick till cover to the east, on the main mineralized trend, and geophysics is warranted to develop additional drill targets.

Readers are cautioned that historical drilling and surface sampling results reported here should be viewed primarily as a guidance for future exploration drilling. Gelum engaged Quesnel Bros. Diamond Drilling ("QB') in September 2023 to continue drilling the 3000-metre programme started in September 2022.

A total of 1340.0 metres were drilled in six holes from five widely spaced platforms. As the drilling started late in the season (end of September), QB mobilized two rigs: 1) a lightweight Hydracore 2000 drill rig, supported with helicopter service by Eclipse Helicopters of Penticton, B.C., utilizing the nearby Gun Lake strip for logistics, and 2) a skid-mounted rig, which was trucked and pulled to site via the north logging road access and new drill trails to the ridge crest. All core was NQ size, and the average recovery was 87%. The Bralorne mines historically exploited the largest, highest-grade, longest-producing lode-gold deposit in B.C. Management is proud to have developed an excellent working relationship with the Bridge River Indian Band (Xwisten) the project is within the St'at'imc territory (Traditional Territory) in which Xwisten and its members assert, hold and exercise legally protected Aboriginal Title and Rights ("Ind Indigenous Title and Rights").