Mr. Galen McNamara reports

ANGOLD CONFIRMS EFFECTIVE DATE FOR SHARE CONSOLIDATION

Effective at the opening of markets on or about June 7, 2023, the common shares of Angold Resources Ltd. will commence trading on a postconsolidation basis, at a ratio of one postconsolidation common share for every 10 preconsolidation common shares outstanding, under the existing ticker symbol AAU.

No fractional shares will be issued in connection with the consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded to the nearest whole number of common shares and no cash consideration will be paid in respect of fractional shares. Registered holders of common shares of the company will receive a letter of transmittal from Computershare Trust Company of Canada with instructions on how to exchange existing share certificates for new postconsolidation share certificates.

The consolidation is intended to make the capital structure of the company more attractive to potential financing opportunities.

The company currently has 144,705,502 common shares outstanding. Following completion of the consolidation it is expected that the company will have approximately 14,470,550 shares outstanding, subject to fractional rounding.

About Angold Resources Ltd.

Angold is an exploration and development company targeting large-scale mineral systems in proven gold districts in Chile and Ontario.

We seek Safe Harbor.