Ms. Panwen Gao reports

SAHARA ENERGY LTD. OBTAINS CONDITIONAL APPROVAL AND FILES FILING STATEMENT IN CONNECTION WITH CHANGE OF BUSINESS TRANSACTION

Further to the press releases dated Jan. 25, 2021, and Feb. 23, 2021, Sahara Energy Ltd. has received conditional approval from the TSX Venture Exchange for its proposed change-of-business transaction (within the meaning of exchange Policy 5.2).

In connection with Sahara's proposed change of business and pursuant to exchange requirements, the company has prepared and filed a filing statement dated Aug. 26, 2021, outlining the terms of the change and business and providing detailed information respecting the company's continuing business and operational plans and expectations following the change of business. The filing statement has been filed under the company's profile on SEDAR, and shareholders and other interested parties are strongly urged to conduct a full review of the filing statement and the important information contained therein.

The completion of the change of business remains subject to final approval by the exchange and fulfilment of exchange requirements, including, among other things: obtaining certain shareholder approvals of the change of business by way of written consent. Until final approval is obtained and a final exchange bulletin is issued, trading in the common shares of the company will remain halted. Upon resumption of trading, the company will be listed on the exchange as a Tier 2 investment issuer. The company's name and ticker symbol SAH will remain the same.