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Press release from Marketwire

Gabriel Resources Ltd.: Release of Third Quarter Report

Thursday, November 01, 2012

Gabriel Resources Ltd.: Release of Third Quarter Report07:35 EDT Thursday, November 01, 2012TORONTO, CANADA--(Marketwire - Nov. 1, 2012) - Gabriel Resources Ltd. ("Gabriel") (TSX:GBU) announces that it will release its third quarter results for the three months to September 30, 2012 before market opening on Thursday November 8, 2012 simultaneously with the publication of its third quarter report and management discussion and analysis for the period ended September 30, 2012 on SEDAR. No conference call or webcast is scheduled for the third quarter results.About Gabriel Gabriel is a Canadian TSX-listed resource company focused on permitting and developing its world-class Rosia Montana gold and silver project. The Project, the largest undeveloped gold deposit in Europe, is owned through Rosia Montana Gold Corporation ("RMGC"), a Romanian company in which Gabriel holds an 80.69% stake with the 19.31% balance held by CNCAF Minvest S.A., a Romanian state-owned mining enterprise. Gabriel and RMGC are committed to responsible mining and sustainable development in the communities in which they operate. The Project is anticipated to bring US$19 billion to Romania as potential direct and indirect contribution to GDP according to 2010 estimates from UK-based Oxford Policy Management (using a gold price of US$900/oz). This contribution increases to over US$30 billion at today's gold price. The Project will generate thousands of employment opportunities. Gabriel intends to build a state-of-the-art mine using best available techniques and implementing the highest environmental standards whilst preserving local and national cultural heritage in Romania. For more information please visit the Company's website at www.gabrielresources.com.FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Gabriel Resources Ltd.Jonathan HenryPresident and Chief Executive OfficerMobile: +44 7798 801783jh@gabrielresources.comGabriel Resources Ltd.Max VaughanChief Financial OfficerMobile: +44 7823 885503max.vaughan@gabrielresources.comBuchananBobby Morse+44 207 466 5000 or Mobile: +44 7802 875227bobbym@buchanan.uk.com