GBRC Gold Bull Resources Corp

The holiday season is a special time of year. At Gold Bull Resources Corp. (TSX-V: GBRC) (“Gold Bull” or the “Company”) we use this time as an opportunity to reflect on the year that was, and, to design a road map aimed at achieving our goals in 2022.

This time last year, we had concluded the 100% acquisition of the Sandman Gold Project (“Sandman” or the “Project”) from Newmont, located in Nevada. Since then, we increased the Sandman gold resource by 60%. Post the resource estimate increase, we have conducted significant additional work, including:

• Built a world class technical team of Nevada based geoscientists and developed relationships with local stakeholders
• Drilled 33 RC holes for total 5,804.9 m (19,045 ft), drilling hit both high grade and broad widths of gold mineralization, located outside the current resource
• Conducted numerous ground geophysical surveys, including a 3D IP survey at North Hill covering 0.9 square km (223 acres), a 2D IP survey at the new Midway target area, covering 14.3 km (8.9 miles) and CSAMT lines at North Hill, Windmill target and Abel Knoll covering 25.9 km (16.1 miles)
• Proven lag sampling is an effective geochemical tool to explore for deposits that may be hiding beneath the Sandman cover (predominantly unconsolidated sand)
• Collated a 3D geological model incorporating all previous data resulting in a new target model

Our team is gearing up for another drill program at Sandman that will commence in January 2022. The initial program will comprise of 4000m, targeting new discoveries based on the robust science that our team has collated.

Gold Bull’s 100% owned Big Balds Project, also located in Nevada is ‘drill ready’. The Company intends to drill test the Big Balds Project in 2022, targeting an undercover geophysical anomaly along strike of Bald Mountain.

The Company is fully funded for both drill programs.

While our team is focused on adding ounces at our existing 100% owned projects, I am continuing our M&A (merger and acquisition) discussions. We have a short list of assets that we are advancing to the next level of due diligence in the pursuit of value adding transactions. In short, if we can acquire existing ounces cheaper than we can explore for them – we believe that represents compelling value for our shareholders. The global markets remain buoyed up by COVID stimulus packages, and inflation appears set to rise which historically abodes well for gold.

I would like to take this opportunity to thank everyone who supported us this year: our communities and stakeholders, Board of Directors, accounts & admin team, advisors and consultants, supportive stockbrokers and I would like to acknowledge the dedication of our Nevada based technical team, comprising of: David Johnson, Regina Molloy, Will Strong, Amy Hannink, Robbie Anderson and technical advisor, John Wood. I am proud of the science that has been utilized to produce our new and exciting drill targets that we look forward to testing in Q1 2022. It is shaping up to be an exciting year for the Company.

Most of all, I thank you, our shareholders, for your continued support. On behalf of Gold Bull, we wish you a Happy and Healthy New Year.

Cherie Leeden - President and CEO, Gold Bull Resources Corp.

About Sandman

In December 2020, Gold Bull purchased the Sandman Project from Newmont. Gold mineralization was first discovered at Sandman in 1987 by Kennecott and the project has been intermittently explored since then. There are four known pit constrained gold resources located within the Sandman Project, consisting of 21.8Mt @ 0.7g/t gold for 494,000 ounces of gold; comprising of an Indicated Resource of 18,550kt @ 0.73g/t gold for 433kozs of gold plus an Inferred Resource of 3,246kt @ 0.58g/t gold for 61kozs of gold. Several of the resources remain open in multiple directions and the bulk of the historical drilling has been conducted to a depth of less than 100m. Sandman is conveniently located circa 30 km northwest of the mining town of Winnemucca, Nevada.

Qualified Person

Cherie Leeden, B.Sc Applied Geology (Honours), MAIG, a “Qualified Person” as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Ms. Leeden is the Company’s Chief Executive Officer. Cherie Leeden relied on resource information contained within the Technical Report on the Sandman Gold Project, prepared by Steven Olsen, a Qualified Person under NI 43-101, who is a Qualified Persons as defined by the National Instrument NI 43-101. Mr Olsen is an independent consultant and has no affiliations with Gold Bull except that of an independent consultant/client relationship. Mr Olsen is a member of the Australian Institute of Geoscientists (AIG) and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects.

About Gold Bull Resources Corp.

Gold Bull’s mission is to grow into a US focused mid-tier gold development Company via rapidly discovering and acquiring additional ounces. The company’s exploration hub is based in Nevada, USA, a top-tier mineral district that contains significant historical production, existing mining infrastructure and an established mining culture. Gold Bull is led by a Board and Management team with a track record of exploration and acquisition success.

Gold Bull’s core asset is the Sandman Project, located in Nevada which has a 494,000 oz gold resource as per 2021 43-101 Resource Estimate. Sandman is located 23 km south of the Sleeper Mine and boasts excellent large-scale exploration potential. Drilling at Sandman is currently underway.

Gold Bull is driven by its core values and purpose which includes a commitment to safety, communication & transparency, environmental responsibility, community, and integrity.

For further information regarding Gold Bull Resources Corp., please visit our website at www.goldbull.ca or email admin@goldbull.ca.

Cautionary Note Regarding Forward-Looking StatementsNeither 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.

This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicates”, “opportunity”, “possible” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Gold Bull believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.