First Nordic Metals

Gold Line Resources Makes First Anniversary Payment on Oijarvi/Solvik Asset Purchase Agreement

Gold Line Resources Makes First Anniversary Payment on Oijarvi/Solvik Asset Purchase Agreement

VANCOUVER, BC, March [25], 2022 – Gold Line Resources Ltd. (TSX-V: GLDL) (OTCQB: TLLZF) (the “Company” or “Gold Line”) is pleased to announce that it has made its first anniversary payment on its previously announced asset purchase transaction for 100% interest in Agnico Eagle Mines Limited’s (NYSE/TSX: AEM) (“Agnico”) Oijärvi Gold Project located in central Finland and Solvik Gold Project located in southern Sweden.

The asset purchase agreement dated March 19, 2021 (the “Agreement”) was a transaction between Company, EMX Royalty Corp. (NYSE American and TSX-V: EMX) (“EMX”), Agnico, Agnico Eagle Finland Oy and Agnico Eagle Sweden AB. (see news release of June 24, 2021)

As part of the first anniversary payment, On March 21, 2022, Gold Line issued 5,681,612 common shares to Agnico, representing US$500,000 and paid US$1,500,000.

“We are pleased to have Agnico Eagle as a strong supporter and a great partner, as we further expand and delineate the high-grade gold resource potential of the Oijarvi and Solvik Gold Projects,” stated Adam Cegielski, CEO of Gold Resources. “It is an honour that Agnico Eagle chose us to further explore and develop these projects and it demonstrates Gold Lines’ capabilities and mining expertise in the region.”

As part of the first anniversary payment, the Company also issued 2,840,806 common shares to EMX, representing US$250,000 and paid US$250,000.

All Gold Line common shares issued in connection with the first anniversary payment are based on the volume-weighted average price for the 20 trading days (the “20-day VWAP”) prior to the date of issuance, being C$0.1124, respectively, on March 18, 2022. All securities issued are subject to a hold period of four (4) months plus one day, expiring July 22, 2022.

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Cautionary Note Regarding Forward-Looking Statements

This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the terms and conditions of the Arrangement, timing for the hearing for the final order of the Supreme Court of British Columbia to approve the Arrangement and the timing and ability of Gold Line to complete the Arrangement. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Gold Line’s respective management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Gold Line believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Gold Line. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to obtain necessary approvals in respect of the Arrangement, the ability to consummate the Arrangement,; the ability to obtain requisite court approvals and the satisfaction of other conditions to the consummation of the Arrangement on the proposed terms and schedule; the potential impact on exploration activities; the potential impact of the announcement or consummation of the Arrangement on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential following the consummation of the Arrangement; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Arrangement. This forward-looking information may be affected by risks and uncertainties in the business of Gold Line and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Gold Line with the Canadian securities regulators, including Gold Line’s financial statements and related management’s discussion and analysis for the financial year ended December 31, 2022 and its interim financial reports and related management’s discussion and analysis for the period ended September 30, 2023 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Gold Line has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

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