Mr. Richard Wilson reports

RESULTS OF ADJOURNED ANNUAL GENERAL METING

Baroyeca Gold & Silver Inc. has released the results of its annual general meeting of the shareholders adjourned on Dec. 29, 2023, and held on Jan. 5, 2024.

Board size

At the meeting, the resolution to fix the number of directors at five was passed.

Election of directors

Each of the nominee directors listed in the company proxy circular dated Dec. 1, 2023, was elected as a director. In addition, two director nominations were made from the floor, being Sherman Dahl and Pat Robinson. The shareholders elected Richard Wilson, Douglas Eacrett, William Carr, Mr. Dahl and Mr. Robinson as directors.

Appointment of auditor

At the meeting, WDM Chartered Professional Accountants was appointed as auditor of the company for the ensuing year.

Amended stock option plan

In addition, shareholders approved the amended stock option plan, which amends and restates the previously existing stock option plan of the company in order to bring the company's stock option plan in line with the amendments to TSX Venture Exchange Policy 4.4 Security Based Compensation effective November, 2021. The new Policy 4.4 set out a new framework for security-based compensation for issuers listed on the TSX-V. The amended stock option plan is a rolling option plan under which stock options may be issued which are exercisable to acquire a maximum of 10 per cent of the common shares of the company which are issued and outstanding at the time of any grant. The company currently has 66,484,750 common shares issued and outstanding.

Please refer to the company's management information circular dated Dec. 1, 2023, for further details with respect to the amendments in accordance with the revised Policy 4.4.

About Baroyeca Gold & Silver Inc.

Baroyeca is a mineral exploration company focused on high-grade silver and gold projects located in Colombia. Baroyeca's flagship asset is the high-grade Atocha silver-gold project located in Tolima department, Colombia. The company also holds an option to acquire a 100-per-cent interest in the Santa Barbara property, Bolivar department, Colombia, which is renowned for its high-grade gold mineralization and vein density. Current exploration activities on the Santa Barbara property involve the bulk sampling of vein structures, which material then feeds into a trial production facility. The expected revenue from the sale of produced gold will defray part of the operating costs. The company is planning to expand these activities.