NEW YORK, NEW YORK--(Marketwire - June 1, 2011) - Electrum Strategic Holdings LLC ("Electrum") announced that on May 31, 2011 it privately transferred directly 10,000 common shares (the "Common Shares") in the capital of Gabriel Resources Ltd. ("Gabriel") to a charitable organization. After such transfer, Electrum continues to own 61,410,739 Common Shares, representing approximately 17.62% of the issued and outstanding Common Shares.

The Common Shares referred to above continue to be held for investment purposes and Electrum and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of common shares or other securities of Gabriel whether in the open market, by privately negotiated agreement or otherwise.

Electrum is located at 535 Madison Avenue, 11th Floor, New York, NY 10022. A copy of the report relating to this disposition can be obtained from Michael Williams 646-365-1600 or on Gabriel's profile at

Contact Information:

Michael Williams