Ms. Panwen Gao reports

SAHARA ENERGY LTD. FILES AMENDED FILING STATEMENT IN CONNECTION WITH CHANGE OF BUSINESS TRANSACTION

Further to Sahara Energy Ltd.'s press release dated Aug. 26, 2021, wherein it announced that it had filed its filing statement dated Aug. 26, 2021, outlining the terms of its proposed change and business, and providing detailed information respecting the company's continuing business and operational plans and expectations following the change of business, Sahara has filed an amended filing statement dated Aug. 27, 2021, correcting a percentage error in the original filing statement. In particular, the amendments correct the equity percentage of Sahara's equity interest in the Dakota-Albany project from 21.27 per cent to 21.85 per cent. No other changes to the Aug. 26, 2021, filing statement have been made.

The amended 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 amended filing statement and the important information contained therein.

The completion of the change of business remains subject to final approval by the TSX Venture 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.