Mr. Andy Rendle reports

COSIGO RESOURCES CLOSES ITS PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT

Cosigo Resources Ltd. has closed its non-brokered private placement as previously announced in the company's news release dated March 3, 2023.

In connection with the private placement, Cosigo Resources issued 10 million units at a price of five cents per unit for aggregate gross proceeds of $500,000. Each unit consists of one common share in the capital of the company and one non-transferable common shares purchase warrant. Each warrant is exercisable into one common share at a price of six cents per common share for a period of 12 months from the date of issuance.

In connection with the private placement, the company paid an aggregate of $9,240 in finders' commissions to certain arm's-length finders.

Certain directors and officers of the company purchased or acquired direction and control over a total of 392,154 units under the private placement. The placement to those persons constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Notwithstanding the foregoing, the directors of the company have determined that the interested parties' participation in the private placement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(b) of MI 61-101. The company did not file a material change report 21 days prior to the closing of the private placement as the details of the participation of interested parties had not been confirmed at that time.

The company intends to use the net proceeds of the offering to conduct prospecting, mapping and sampling on the company's Taraira property, the Willow Creek Nevada property and for working capital purposes.

In other matters, Cosigo and AMECA Mining BVI had initially planned on working together starting in October of 2020 to commence further gold exploration activities on the Damian property. The global pandemic caused a certain number of delays to the project's timeline and the company has decided to terminate the agreement.

About Cosigo Resources Ltd.

Cosigo Resources is a junior exploration company trading on the TSX Venture Exchange NEX exchange (symbol CSG.H). The company is focused on exploring and developing the gold potential of its properties in the Taraira district in southeast Colombia near the border of Brazil. The company also holds a 100-per-cent interest in the Willow Creek property, located in the northern sierras of Nevada near Winnemucca and a 100-per-cent interest in the Damian property in the Cordillera region of Colombia, and it also owns 13.26 per cent of DHK Diamonds Inc., a company exploring for diamonds in the DO27 region of the Northwest Territories of Canada.

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