Company Profile Gabriel is a Canadian-based resource company committed to responsible mining and sustainable development in the communities in which it operates. Gabriel is engaged in the exploration and development of mineral properties in Romania and is presently in the permitting stage and preparing to develop its 80.46%-owned Rosia Montana gold project (the "Project"). Minvest S.A. ("Minvest"), a Romanian state owned mining company, and one other private Romanian company, hold a 19.54% interest in Rosia Montana Gold Corporation ("RMGC"), and Gabriel holds the pre-emptive right to acquire the 19.54% minority interest. Mission and Vision Our mission is to create value for all of our stakeholders from responsible mining. Our vision is to build the Project and to be a catalyst for sustainable economic, environmental, cultural and community development. As we develop the world-class Rosia Montana Project, we will strive to set high standards through good governance, good engineering, open and transparent communications, and operations and reclamation based on Best Available Techniques - all in the service of value creation and sustainable development. Whether the issue is corporate governance, community development, environmental responsibility or operational practices, we pledge to do it right. Gabriel continues to work closely with local communities, regional and federal governments, financial institutions and non-government organizations to ensure that the development and operation of the Rosia Montana gold mine meets or exceeds all national and international social and environmental regulations. The Rosia Montana Project The Rosia Montana Project, owned through a joint venture with the Romanian Government, contains reserves of 10.1 million ounces of gold and 47.6 million ounces of silver. Currently, measured and indicated resources stand at 14.6 million ounces of gold and 64.9 million ounces of silver in addition to inferred resources of 1.2 million ounces of gold and 3 million ounces of silver. The estimated cost to complete the development of the Project - including interest, financing and corporate costs - is US$1 billion, consisting of capital costs of US$876 million and interest, financing and corporate costs of US$124 million. The Project is estimated to produce 626,000 ounces of gold annually during its first five years of operation at an estimated total cash cost of US$272 per ounce, and an average of 500,000 ounces per year over its 16 year mine life averaging US$335 per ounce. Gabriel's common shares are listed on the Toronto Stock Exchange under the symbol "GBU". Rosia Montana Project Backgrounder The Project Rosia Montana is a small village in the mountains of western Romania, and the site of gold deposits believed to be the largest in all of Europe. The area has been mined for at least two millennia, from the time of Caesar to the days of Ceausescu, and owes its name - "red mountain" - to the streams of water turned red from toxic runoff produced by 2,000 years of under-funded/uncontrolled gold mining. Minvest S.A.,a Romanian Government-owned mining company, operated the mine from 1989 through spring 2006. Using outdated mining practices and dependent on state subsidies that did not meet EU competition practices, Minvest closed its operations as part of the negotiations paving the way for Romania's accession to the EU. Being a mono-industrial area, unemployment in Rosia Montana is now over 80%, leaving many of the village's 3,000 inhabitants jobless and destitute unless mining continues under private ownership. The Canadian company Gabriel Resources, lawfully acquired the mining license in 1999 from the Romanian Government. The mining license was granted pursuant to the enactment of new mining legislation in 1998. In 1995 the Company entered into a Cooperation Agreement to investigate the Rosia Montana tailings dumps, complete pre-feasibility and feasibility studies, in exchange for the sole right to develop the Rosia Montana Project. The company spent $17 million between 1995 and 1999 on exploration and pre-feasibility studies. In place of the state-subsidized mine, Gabriel Resources - 80.46% owner of Rosia Montana's mineral rights through its Romanian subsidiary, the Rosia Montana Gold Corporation (RMGC) - proposes to conduct new mining operations on a larger scale. The Romanian Government owns 19.54% of RMGC. The publicly traded, Toronto-based company would apply state of the art extraction methods which have been successfully demonstrated elsewhere to be both profitable and more beneficial to the environment. Gabriel Resources will also undertake a full-scale ecological reclamation project unprecedented in the region. Financed by Gabriel with no cost to the Romanian state or to the EU, these efforts would restore not only lands affected by the new mine, but also water systems severely harmed by past uncontrolled mining practices. Our Environmental Commitment Though little reported outside the Balkans, the Rosia Montana project is a matter of intense controversy in Romania and in neighboring Hungary. Much of the debate centers on the need to use cyanide to extract pure gold from the low-density widely distributed ore - a method commonly used in over 400 gold mines around the globe, including a majority of mines currently operating in Europe. Current best practices in the mining industry typically allow the use of cyanide at 50 parts per million (ppm), while the new EU Mine Waste Directive mandates that all of its mines must bring the level down to 10 ppm in the next ten years. The Rosia Montana Gold Company would operate at 5 to 7 ppm - below the EU's ten year goal - from day one. Responsible mining begins with awareness that - as with any large scale industrial project there are tradeoffs to address. Nearly all the environmental and social impacts are avoidable when mining is done responsibly and all stakeholders benefit. In the case of Rosia Montana, the environmental concerns are real. The hills, valleys and rivers of Rosia Montana are in deplorable and dangerous condition -ridden with arsenic, zinc and iron well above legal limits, caused by acid rock drainage from two millennia of mining. The Romanian Government has designated the area as a "Disadvantaged Zone" due to the high unemployment. Who will restore those lands, if not Gabriel with its legally binding commitment to thorough environmental reclamation? A private gold mining operation, governed by internationally recognized best practices for the industry and by the stringent standards of the EU, will bring to Rosia Montana the wealth, manpower, and technologies needed to restore the area to ecological health. Even as the company is mining new areas, it will be cleaning past water pollution caused by the poor mining practices of prior owners that we believe would otherwise likely be left as they are. The new Rosia Montana Project has been described as a "mine to clean up a mess". Critics have suggested that EU structural funds will take care of it. There are almost 500 mines that have been closed in Romania to date and Rosia Montana is neither the worst case nor the first priority. Consequently, experts within the EU have acknowledged that relying on EU funds to clean up Rosia is not a viable option. Economic & Community Impact On many levels, this project will be a tremendous boost to the country's and the community's economy, generating approximately US$4 billion for the Romanian economy, including US$1.8 billion in revenues to the Romanian Government Treasury in addition to US$2.2 billion spent in the Romanian economy on a range of goods and services. Moreover in an area of high unemployment, this project will bring approximately 2,300 direct jobs during the two year construction period and over 800 direct jobs over the 16 year operating life. Spin off industries are expected to indirectly create an additional 3,000 jobs in the country, most of which are in the region. To date the Company has invested over US$400 million in the development of the mining project. Gabriel Resources is committed to build not just a mine but a community. This was the rationale behind the company chartering the first privately financed micro-credit bank in the region to spur small business development in January 2007. To date, the company has spent over US$10 million on rescue archaeology to preserve and protect the area's natural treasures and historic past - and another US$35 million is budgeted to continue this effort. Through its Good Neighbor Program, as well as its partnership with Romanian NGO's Ovidiu Rom and Youth Action for Peace, Gabriel Resources has provided the community with medical, emergency, educational, and youth development services it would not have otherwise seen. A Commitment to Good Governance Gabriel Resources intends to make this project the gold standard for mining developments in Europe and across the world. This not only means building the most technologically advanced, environmentally friendly, and socially conscious mine to date - but also doing so through an open, transparent, and ethical process. In a country with significant untapped resource potential, the successful permitting of this project will reinvigorate the mining industry, potentially putting thousands of people back to work, cleaning up the environmental devastation resulting from past mining practices and ultimately fueling the Romanian economy for decades to come.