Gabriel Resources

Gabriel Resources is a Canadian resources company listed on the Toronto Stock Exchange. Since 1997, the Company’s principal focus has been the exploration and development of the Rosia Montana gold and silver mine in Romania. The project, one of the largest undeveloped gold and silver deposits in Europe, is situated in the South Apuseni Mountains of Transylvania, Romania, an historic and prolific mining district that has been mined for over 2,000 years. The exploitation concession licence for the Project is held by Rosia Montana Gold Corporation S.A. (RMGC), a Romanian company in which Gabriel Resources owns the majority interest, with the balance held by Minvest Rosia Montana S.A. (Minvest RM), a Romanian state-owned mining company. In recent years, Gabriel Resources focus has turned to its arbitration claim against Romania, before the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), concerning the Rosia Montana project. This legal dispute arises out of acts and omissions of Romania in violation of the Canadian and United Kingdom bilateral investment treaties that have resulted in the destruction of value of Gabriel Resources’ significant investments in Romania.