Since 1997, the Company’s principal focus has been the exploration and development of the Project, one of the largest undeveloped gold deposits in Europe, to operational status. More recently, the ICSID Arbitration has now become the core focus of the Company.

The information set out below and elsewhere in this website relating to the Roşia Montană Project, the Exploitation License, the Company’s exploration and development activities in Romania, the Project approval and permitting process and reported gold and silver resources and reserves is for background purposes only and should not be interpreted as being indicative of the Company’s current expectations regarding the future development of the Roşia Montană Project.

The Rosia Montana region of Romania has been characterized by economic decline and environmental degradation. Gabriel has been committed to building a new state-of-the-art mining facility to reinvigorate the local and wider economy and to provide an economic basis for sustainable development for the whole area for decades to come.

The proposed development has Measured and Indicated Resources of 17.1 million ounces of gold and 81.1 million ounces of silver (513 million tonnes at average grades of 1.04g/t gold and 5g/t silver), including Proven and Probable Reserves of 10.1 million ounces gold and 47.6 million ounces of silver (215 million tonnes at average grades of 1.46g/t gold and 6.88g/t silver) - see Mineral Reserves & Resources.

Gabriel's efforts have been fully directed towards the successful conclusion of the permitting phase of the Project including the receipt of all environmental and other permitting approvals required for the development to proceed to construction.

In addition, Gabriel has conducted significant exploration work defining mineral deposits at the Rodu-Frasin (epithermal gold and silver) and Tarniţa (porphyry copper-gold) sites within the Bucium area located in the vicinity of Roşia Montană (the “Bucium Projects”).