Mr. Adrian Lamoureux reports

GAIA METALS COMPLETES 3-DAY FOLLOW-UP FIELD PROGRAM AT THE CARMEN CREEK PROSPECT, FREEMAN CREEK GOLD PROPERTY, IDAHO, USA

Gaia Metals Corp. has completed a three-day follow-up prospecting and rock-sampling program at the Carmen Creek prospect, located on the Freeman Creek gold property. The property is located approximately 15 kilometres northeast of Salmon, Idaho, and hosts excellent access through paved highway and a network of gravel roads and trails.

The objective of the three-day program was to follow up and expand upon the high-grade rock samples collected along the Carmen Creek trend during the recently completed August, 2020, surface exploration program on the property; specifically, the Gallifrey showing (2.02 grams per tonne gold, 31.8 grams per tonne silver and 0.76 per cent copper), the Tardis showing (25.5 grams per tonne gold, 159 grams per tonne silver and 9.75 per cent copper), and the Daleks showing (2.00 grams per tonne gold, 269 grams per tonne silver and 11.4 per cent copper) (see news releases dated Sept. 10 and Oct. 13, 2020).

A total of 48 rock samples were collected over the northwest and southeastern areas of the Carmen Creek trend. All samples have been received by the lab and geochemical analysis is pending. Several new areas hosting favourable mineralogy were discovered and sampled. Collectively, based on field observations and sample mineralogies, the company is very encouraged and eagerly awaits results of sample analysis.

Mineralization along the Carmen Creek trend is marked by numerous samples that range in grade from 2.0 grams per tonne to 25.5 grams per tonne gold, 10 grams per tonne to 269 grams per tonne silver and 0.13 per cent to 32 per cent copper. The mineralization is characterized by chlorite mica-schists with quartz veining, magnetite, and common malachite and sulphides (bornite, chalcopyrite and pyrite). Initial field prospecting outlines a central mineralized zone (oriented approximately 135 degrees/65 degrees) of at least one-metre to two-metre width, with vein stockworks extending five metres to 10 metres into the adjacent host rock, which forms part of a larger mineralized corridor at least 1.2 kilometres long by 200 metres wide. The trend remains underexplored and has only been evaluated at a reconnaissance scale by the company.

Drill permitting

The company has started the permitting process for an inaugural diamond drill program at Carmen Creek and is actively assessing drill hole locations and access. The Carmen Creek prospect has never been drill tested and its depth extent is not known. The potential of this prospect has been enhanced considerably following the completion of the 2020 surface exploration.

National Instrument 43-101 disclosure

Darren L. Smith, MSc, PGeo, vice-president of exploration for the company and a qualified person as defined by NI 43-101, supervised the preparation of the technical information in this news release.

About Gaia Metals Corp.

Gaia Metals is a mineral exploration company focused on the acquisition and development of mineral projects containing base metals and precious metals, including platinum group elements and lithium.

The company's flagship asset is the Freeman Creek gold property, located in Idaho, United States. The property hosts two major advanced targets: the Gold Dyke prospect, with a historical drill intercept of 1.5 grams per tonne gold and 12.1 grams per tonne silver over 44.2 metres (RDH 8), and the Carmen Creek mine prospect, with a historical outcrop sample assay of 14.15 grams per tonne gold, 63 grams per tonne silver and 1.2 per cent copper.

Additional assets include the wholly owned Corvette property and the FCI property (held under option from O3 Mining Inc.) located in the James Bay region of Quebec. The properties are contiguous and host significant gold/silver/copper/platinum group metal/lithium potential, highlighted by the Golden Gap prospect with grab samples of 3.1 grams per tonne to 108.9 grams per tonne gold from outcrop and 10.5 grams per tonne gold over seven metres in drill hole; the Elsass and Lorraine prospects with 8.15 per cent copper, 1.33 grams per tonne gold and 171 grams per tonne silver in outcrop; and the CV1 pegmatite prospect with 2.28 per cent lithium oxide over six metres in channel.

In addition, the company holds the Pontax lithium-gold property in Quebec; the Golden Silica property in British Columbia; the Hidden Lake lithium property in Northwest Territories, where the company maintains a 40-per-cent interest; as well as several other assets in Canada.

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