CALGARY - Gear Energy Ltd. ('Gear' or the 'Company') (TSX: GXE) (OTCQX: GENGF) confirms that the December 2023 monthly dividend of $0.005 per common share is to be paid on December 29, 2023, to shareholders of record on December 15, 2023.

The dividend is designated as an 'eligible dividend' for Canadian income tax purposes. FOR FURTHER INFORMATION PLEASE

CContact:

Tel: 403-538-8463

Email: info@gearenergy.com

Web: www.gearenergy.com

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