Mr. Douglas Meirelles reports

SOUTH ATLANTIC GOLD ANNOUNCES CHANGE OF AUDITORS

South Atlantic Gold Inc. has had a change of auditor. At the request of the company, Smythe LLP has resigned as the auditor of the company effective Oct. 14, 2026. The audit committee and board of directors of the company have appointed Davidson & Company LLP as the successor auditor, effective Oct. 14, 2026, until the close of the next annual general meeting of the company.

The company has sent a notice of change of auditor to the former auditor and to the successor auditor, and has received a letter from each, addressed to the securities commissions in each of Alberta, British Columbia and Ontario stating that they agree with the information contained in the notice. The notice, together with the letter from the former auditor and the letter from the successor auditor, has been reviewed and approved by the company's board of directors, and is available on SEDAR+.

There were no disagreements or unresolved issues between the company and the former auditor on any matter of audit scope or procedures, accounting principles or policies, or financial statement disclosure. It is the company's opinion that there have been no reportable events (as defined in National Instrument 51-102, Continuous Disclosure Obligations) between the company and the former auditor. The former auditor did not provide a modified opinion in their auditor's report for the financial statements of the company for the fiscal years ended Feb. 28, 2025, and Feb. 28, 2026.

About South Atlantic Gold Inc.

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