Gamma Resources Announces Leadership Transition: C. Connor Messler to Become Chief Executive Officer and Gabriel Alonso-Mendoza to Become Chairman; Grants Incentive Stock Options

VANCOUVER, BC / ACCESS Newswire / October 27, 2026 / Gamma Resources Ltd. (TSXV:GAMA)(OTCQB:GAMXF)(Frankfurt:MRD0) ("Gamma" or the "Company") is pleased to announce a planned leadership transition. C. Connor Messler, the Company's President, has been appointed Chief Executive Officer and will continue to serve as President. Gabriel Alonso-Mendoza, previously Chief Executive Officer, has been appointed Chairman of the Board of Directors (the "Board"). Mark Saxon has stepped down as Chairman and as a director of the Company. Each change is effective immediately.

The transition is part of the Board's succession planning and builds on the close working relationship between Mr. Messler and Mr. Alonso-Mendoza in leading the Company. Mr. Alonso-Mendoza will continue to work closely with Mr. Messler to ensure continuity of the Company's strategy and operations.

"Having served as President alongside Gabriel, I am honored to take on the role of Chief Executive Officer," said C. Connor Messler, President and Chief Executive Officer. "Gabriel built a strong foundation at Gamma, and I look forward to continuing to work with him in his new role as Chairman. Our focus remains on disciplined execution, advancing our projects, and creating long-term value for our shareholders."

Mr. Messler has served as President of Gamma since May 2026, bringing a background in mineral exploration and program management to the role. As President, he has led the Company's preparations for the first phase of fieldwork at the Mesa Arc and Green River projects, including planning and permitting for a radon flux survey at Mesa Arc and historic drill-hole surveys at Green River. He also played a key role in completing the settlement of the Company's legacy debt in June 2026.

"Connor has been instrumental to Gamma's progress as President, and he is the natural choice to lead the Company as Chief Executive Officer," said Gabriel Alonso-Mendoza, Chairman of the Board. "I look forward to supporting him and the management team as Chairman. On behalf of the Board, I also thank Mark for his leadership and many contributions to the Company."

Mr. Alonso-Mendoza has served as Chief Executive Officer of the Company since August 2023. During his tenure, he led the Company's transformation from Medallion Resources Ltd., a rare earth processing technology company, to Gamma Resources, a U.S.-focused uranium explorer. Under his leadership, the Company secured the Green River and Mesa Arc uranium projects in 2025, expanded the Mesa Arc land position to approximately 4,520 acres by staking additional federal lode claims, raised more than $5.2 million in equity capital through private placements and warrant exercises, and cleared its legacy debt in June 2026. As Chairman, he will continue to provide strategic guidance to the Company.

"It has been a privilege to serve as Chairman of Gamma Resources," said Mark Saxon. "I am proud of what we have accomplished together. With Gabriel moving into the Chairman role and Connor stepping up as Chief Executive Officer, the Company is well positioned for continuity and growth. I wish them and the entire Gamma team continued success."

Mr. Saxon, a geologist with more than 25 years of experience in critical minerals exploration and development, has had a long association with the Company, having previously served as its President and Chief Executive Officer before being appointed Chairman in October 2023. As Chairman, he guided the Board through the Company's transformation into a U.S.-focused uranium explorer, including securing the Green River and Mesa Arc projects and rebranding the Company as Gamma Resources Ltd. The Board thanks Mr. Saxon for his service and wishes him well in his future endeavors.

Grant of Incentive Stock Options

The Company also announces that it has granted an aggregate of 3,125,000 incentive stock options (the "Options") to certain of the Company's directors, officers and consultants pursuant to the Company's Stock Option Plan (the "Plan").

Each Option entitles the holder to purchase one common share of the Company (a "Common Share") at an exercise price of $0.08 per Common Share for five (5) years from the date of grant, expiring October 27, 2031. The Options vest immediately. The Options and any Common Shares issued upon exercise are subject to a four-month hold period from the date of grant, in accordance with the TSX Venture Exchange's policies. The grant of the Options remains subject to the TSX Venture Exchange's acceptance.

About Gamma Resources Ltd.

Gamma Resources Ltd. (TSXV:GAMA)(OTCQB:GAMXF)(FRA:MRD0) is a U.S.-focused uranium exploration and development company advancing high-quality assets in the Mountain West region of the United States. The Company's portfolio includes the Green River Project in Utah, comprising 1,100 acres near prominent regional producers, and the Mesa Arc Project in New Mexico, a strategic land position now totaling 4,520 acres that includes historic uranium resources in the Chama Basin. Management believes the Company is well-positioned to benefit from the policy and market tailwinds reshaping the U.S. nuclear landscape and to help meet growing demand with responsibly sourced, U.S.-based uranium supply.

Gamma trades on the TSX Venture Exchange (TSXV:GAMA), in the United States on the OTCQB (OTCQB:GAMXF), and in Germany on the Frankfurt Stock Exchange (FRA:MRD0).

Note Regarding Historical Estimates

The historic uranium resources referred to in this news release are historical estimates. A qualified person has not done sufficient work to classify these historical estimates as current mineral resources or mineral reserves, the Company is not treating them as current mineral resources or mineral reserves, and they should not be relied upon as such.

For Further Information

Mr. Connor Messler, President and Chief Executive Officer
Email: connor@gammaresourcesltd.com
Tel: (833) 854-6826
www.gammaresourcesltd.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding: the leadership transition described herein and its anticipated benefits; the grant of the Options and the acceptance thereof by the TSX Venture Exchange; the Company's strategy and future plans; the Company's planned exploration and development activities at the Mesa Arc and Green River projects; and the creation of long-term shareholder value.

These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the ability of the Company to successfully implement its leadership transition; the failure to obtain TSX Venture Exchange acceptance of the grant of the Options; the ability of the Company to execute its business strategy; the availability of financing on acceptable terms; exploration and development risks; regulatory risks; and risks related to global financial markets, including the trading price of the Company's Common Shares.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation: that the Company's management and Board will be able to execute the Company's strategy as currently anticipated; that the Company will be able to obtain financing as needed; and that the Company will obtain all required regulatory approvals for its planned activities.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Gamma Resources LTD