Gabriel Resources Ltd. Files Notice of Dispute Over Roșia Montană License

Gabriel Resources Ltd. has filed a notice of dispute against Romania regarding the non-extension of the Roșia Montană exploitation license. This notice follows the Romanian Government's decision, despite the full compliance of Gabriel's Romanian subsidiary, Roșia Montană Gold Corporation S.A., with all legal and contractual obligations.

The company argues that the decision is unjustified, claiming it breaches Romanian law and investment rights protected by bilateral investment treaties. The decision comes three months after a related ICSID arbitration case concluded, impacting the continued development of the Roșia Montană project.

The notice, served to Romania's President and Prime Minister, initiates a 90-day cooling-off period after which arbitration may start. Gabriel Resources remains open to negotiation with the Romanian Government to resolve the issue.

Gabriel continues to pursue the annulment of the ICSID Decision while maintaining its stance on the wrongful decision regarding the license.