Mr. Douglas Meirelles reports

SOUTH ATLANTIC GOLD INC. GRANTS OPTIONS, RSUS & DSUS

South Atlantic Gold Inc., in accordance with its option plan and long-term incentive plan, has granted an aggregate 1.81 million stock options, 180,000 restricted share units (RSUs) and an aggregate 2.36 million deferred share units (DSUs) to certain directors, officers, employees and consultants of the company, subject to regulatory acceptance. The grants are pursuant to the company's plan and LTIP that were approved by shareholders on Dec. 6, 2022.

The options are exercisable at five cents per share for a period of five years. The DSUs and RSUs are governed by the company's LTIP and will be subject to applicable securities law hold periods.

We seek Safe Harbor.