Mr. Steve Roebuck reports

AVIDIAN GOLD ANNOUNCES CONSOLIDATION OF COMMON SHARES

Avidian Gold Corp. intends to consolidate its issued and outstanding share capital on the basis of one postconsolidation share for each 15 preconsolidation common shares.

Management of the company believes that the consolidation will position the company to gain greater exposure to investors that are not willing to trade equity stocks below a certain threshold and, as a result, increase the liquidity of the company. The consolidation was approved by a special resolution of the shareholders at the company's annual general and special meeting held July 4, 2024, which resolution received 97.17 per cent of the votes cast at the meeting.

As of the date hereof, on a preconsolidation basis, the company has 185,411,207 common shares issues and outstanding. As a result of the consolidation, the outstanding common shares of Avidian will be reduced to 12,360,716. Any resulting fraction of a common share will be rounded down to the nearest whole number. The common shares are expected to begin trading on a consolidated basis and with new Isin and CUSIP numbers of CA05369E5092 and 05369E509, respectively, on Sept. 11, 2024, subject to regulatory approvals including the final approval of the TSX Venture Exchange.

Shareholders who hold their shares through a securities broker or dealer, bank, or trust company will not be required to take any measures with respect to the share consolidation. Avidian's transfer agent, Computershare Investor Services Inc., will mail a letter of transmittal to all registered shareholders of Avidian that will contain instructions for exchanging their preconsolidation common shares for postconsolidation common shares. Registered shareholders will be required to return their certificates representing preconsolidation common shares and a completed letter of transmittal to Computershare. Any registered shareholder who submits a duly completed letter of transmittal to Computershare along with any preconsolidation share certificates will receive in return a postconsolidation share certificate or direct registration system advice.

Avidian's outstanding options and warrants will be adjusted on the same basis (one to 15) as Avidian's common shares, with proportionate adjustments being made to exercise prices.

Avidian will not be changing its name or trading symbol in connection with the consolidation.

For more information on the consolidation, please refer to the company's management information circular dated May 22, 2024, available on the company's SEDAR+ profile.

About Avidian Gold Corp.

Avidian brings a disciplined and veteran team of project managers with a focus on advanced-stage gold exploration. The company currently holds a 100-per-cent interest in the Jungo gold-copper property in Nevada and is evaluating other transformational opportunities.

Avidian is a shareholder in High Tide Resources, which is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social licence from local communities. Avidian Gold controls approximately 28 per cent of High Tide's outstanding shares. High Tide owns a 100-per-cent interest in the Labrador West iron project which hosts an inferred iron resource of 654.9 million tonnes (Mt) at 28.84 per cent iron (Fe) and is located adjacent to the Iron Ore Company of Canada's (IOCC) Carol Lake mine in Labrador City, Nfld., operated by Rio Tinto PLC. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The company also owns a 100-per-cent interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Que.

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