Winnipeg, Manitoba--(Newsfile Corp. - May 13, 2022) - Gossan Resources Limited (TSXV: GSS) (FSE: GSR) (XETRA: GSR) (the "Company" or "Gossan") is pleased to announce that, further to its press releases of April 18, 2022 and May 4, 2022, the Company has closed a non-brokered private placement through the issuance of 5,500,000 units (each, a "Unit") at a price of $0.16 per Unit for aggregate gross proceeds of $880,000 (the "Offering"). Each Unit consists of one common share (each, a "Common Share") in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.24 per Common Share for a period of two (2) years from the closing of the Offering.