Mr. Darrell Rader reports

MINAURUM ANNOUNCES CLOSING OF BROKERED LIFE OFFERING

Minaurum Gold Inc. has completed its previously announced best efforts private placement for gross proceeds of $5,696,250 from the sale of 22,785,000 units of the company at a price of 25 cents per unit. Each Unit consists of one common share of the Company (each, a "Unit Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.34 at any time on or before May 2, 2026.

The Units were sold to purchasers in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions. The Unit Shares and Warrant Shares are immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada.

The Company intends to use the net proceeds from the Offering to complete a National Instrument 43-101 resource at the Alamos Silver project, to continue exploration drilling and for working capital and general corporate purposes.

Red Cloud Securities Inc. (the "Agent") acted as sole agent and bookrunner in connection with the Offering. In connection with the Offering, the Company paid the Agent a cash commission of C$340,875 and issued to the Agent 1,363,500 common share purchase warrants (the "Broker Warrants"). Each Broker Warrant entitles the holder thereof to acquire one common share of the Company at a price of C$0.25 at any time on or before May 2, 2026. The Broker Warrants are subject to a statutory hold period expiring on September 3, 2024.

None of the securities sold under the Private Placement have been and will not be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) is a Mexico-focused explorer concentrating on the high-grade 100% owned fully production permitted Alamos silver project in southern Sonora. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value to develop and acquire a pipeline of potential Tier One precious metals projects. Through a portfolio containing Silver projects totaling 37,928 hectares; Gold projects totaling 25,933 hectares; and Copper projects totaling 12,856 hectares, Minaurum provides significant exposure to precious and base metals.

We seek Safe Harbor.