GFK Resources Inc.: Update on Private Placement

MONTREAL, QUEBEC--(Marketwired - July 7, 2017) - GFK Resources Inc. (TSX VENTURE:GFK) (the "Company") is pleased to provide an update following the first closing for gross proceeds of $1,167,200 of its current unit and flow-through share offering (the "Offering") (see the Company's press release dated June 22, 2017 for more details). The Company expects to proceed with the closing of the second tranche shortly. The Offering consists of a maximum of 10,000,000 units (the "Units") at a price of $0.10 per Unit ($1,000,000) and a maximum of 10,000,000 flow-through common shares (the "Flow-Through Shares") at a price of $0.13 per Flow-Through Share ($1,300,000), for total gross proceeds of $2,300,000. Each Unit is comprised of one (1) common share and one common share purchase warrant (a "Warrant"). Each Warrant entitles its holder to purchase one (1) common share at a price of $0.15 per common share for a period of 18 months following the closing.

About GFK: GFK Resources Inc. is a mining exploration company focused on discovering high quality gold and base metals deposits within strategically located properties within proven mining camps, sometimes close to existing mines in the Abitibi Greenstone Belt located in north-west Quebec and north-east Ontario - one of the most prolific gold deposits areas in the world. GFK holds assets in Val-d'Or, Matagami and Chibougamau areas. Bachelor Extension property is adjacent to Metanor Resources Inc.- Bachelor Gold Mine, Vezza Extension and Vezza North are located few kilometers West and North of Nottaway Resources Vezza Mine. More recently, GFK acquired new properties, all easily accessible by a good road network: Fecteau property, located in the active Urban-Barry township, Winwin property, located in the neighbourhood of Iamgold's Monster Lake property, and Grizzly property, located in Chibougamau mining camp.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.