GFG Resources Inc. announced that it has completed its earn-in requirements to earn 100% of the Montclerg Gold Project pursuant to the previously announced option agreement with International Explorers and Prospectors Inc. Pursuant to the Agreement, GFG issued its final share payment of 3,535,168 common shares of the Company to IEP, exceeded the CAD 1.0 million in exploration expenditures and transferred CAD 1.0 million in assessment credits to IEP. IEP will retain a net smelter royalty of up to 2% on certain claims. The Montclerg Gold Project is located 48 kilometres (km) east of the prolific Timmins Gold Camp and is surrounded by multiple current and historic gold mines and significant power and road infrastructure. The Project consists of five patented mining claims and 110 unpatented mining claims that cover 10 km of the highly prospective Pipestone Deformation Zone which hosts multiple gold deposits and mines in one of the most prolific gold districts in the world.

The Project is within 10 kms of the Stock Mine and Mill and the Taylor Gold Mine. The two gold systems at Montclerg, MC and CX, occur north and south of the Pipestone Deformation Zone, respectively, and are associated with east-northeast trending fault zones that bisect the metasedimentary, felsic volcanic, mafic volcanic and felsic porphyritic rocks of the area.