Mr. Douglas Meirelles reports

SOUTH ATLANTIC ANNOUNCES BOARD RESIGNATION AND APPOINTMENT

South Atlantic Gold Inc.'s Rick Brown has resigned from the board of directors, effective March 19, 2026.

The board thanks Mr. Brown for his valuable contributions during his tenure. His deep experience in Latin American mining was instrumental in advancing the company's strategy at Pedra Branca.

The company also announces the appointment of Stephen Stow to the board of directors, effective March 19, 2026, subject to receipt of all required regulatory approvals.

Mr. Stow is the founder and executive chairman of Zen Capital & Mergers Ltd., a business advisory firm focused on gold exploration. He holds an MA in jurisprudence from Oxford University, and brings over three decades of experience in mining exploration, merger and acquisition (M&A) advisory, and corporate governance. Prior to emigrating to Canada, he served as director of corporate finance, Asia, for National Westminster Bank.

Mr. Stow's recent experience in mining exploration includes:

• Former director of Lumina Gold Corp. (2015 to 2025) and Amarillo Gold Corp. (2017 to 2020);
• Current director of G2 Goldfields Inc. (Toronto Stock Exchange: symbol GTWO) and FNX Inc. (Canadian Securities Exchange: symbol FNX).

Douglas Meirelles, president and chief executive officer of South Atlantic Gold, commented:

"We are delighted to welcome Stephen to the board. His extensive background in gold exploration, project development and capital markets, particularly in Latin America, aligns well with our strategy at Pedra Branca. We look forward to drawing on his experience in building value through disciplined exploration and transactions as we advance our portfolio."

Grant of DSUs (deferred share units)

The company further announces that, in accordance with its long-term incentive plan (LTIP), the company has granted an aggregate 2.45 million deferred share units (DSUs) to certain directors, officers and consultants of the company subject to regulatory acceptance.

The grants are pursuant to the company's LTIP that was approved by shareholders on June 27, 2025.

The DSUs are governed by the company's LTIP and will be subject to applicable securities law hold periods.

About South Atlantic Gold Inc.

South Atlantic is an exploration company engaged in acquiring and advancing mineral properties in the Americas.