FOR IMMEDIATE RELEASE…Vancouver, BC – September 2, 2021 – Gelum Capital Ltd. (the  “Company” or “Gelum") Vancouver, B.C., reports that on August 31, 2021 completed a non-brokered  private placement of an aggregate 1,100,000 units at $0.10 per Unit (the “Offering”) for gross proceeds of  $110,000. Each unit consisted of one common share in the capital of the Company and two separate onehalf  (1/2) of one common share purchase warrants (a “1/2 Warrant A” and a “1/2 Warrant B) and,  respectively, each whole warrant, a “Warrant A” and a “Warrant B”, and collectively the “Warrants”). Each  whole Warrant A entitles the holder to purchase one common share in the capital of the Company at an  exercise price of $0.25 per share for a period of 24 months from issuance and, each whole Warrant B entitles  the holder to purchase one common share in the capital of the Company at an exercise price of $0.50 per  share for a period of 24 months from issuance. Further, in the event the closing price of the Company’s  common shares on the Canadian Securities Exchange (the “CSE”) is equal to or greater than $0.35 for the  Warrant As and $0.65 for the Warrant Bs, for a minimum of ten consecutive trading days and a notice of  acceleration is provided in accordance with the terms of the Warrants.

Finder’s fees were paid to Lucas Investments Ltd. The proceeds of the Offering will be used toward  exploration of the Company’s Eldorado Gold Property and general working capital. Gelum is presently  making application to list its common shares on the CSE. Any such listing will be subject to the Company  meeting the listing requirements of the CSE. 

For further information about Gelum, please contact: 

Marla Ritchie – Phone: 604 484-122

Forward-Looking Information: 

This press release may include ‘forward-looking information’, within the meaning of Canadian securities legislation, about the  business of the Company and its plans to list on the CSE. Forward-looking information is based on certain key expectations and  assumptions made by the Company’s management, including future plans for the Company. Although the Company believes that  the expectations and assumptions on which such forward-looking information is based are reasonable, investors should not unduly  rely on the forward-looking information because the Company cannot assure that it will prove to be correct. Forward-looking  statements in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to  update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise,  other than as required by applicable securities laws.