Mr. J. Francois Lalonde reports

STELLAR AFRICAGOLD INC. CLOSES $4 MILLION PRIVATE PLACEMENT

Stellar AfricaGold Inc. has closed its previously announced non-brokered private placement.

The company has raised aggregate gross proceeds of $4-million through the issuance of 22,222,222 units of the company at a price of 18 cents per unit. Each unit consists of one common share of the company and one-half of one transferable common share purchase warrant. Each warrant entitles the holder to acquire one additional share at a price of 28 cents for a period of 36 months from the date of issuance.

Proceeds from the offering will be allocated toward financing continuing exploration efforts at the company's Tichka Est gold project in Morocco and the Zuenoula gold property in the Ivory Coast, and for general corporate purposes and working capital.

All securities issued under this offering are subject to a statutory hold period of four months and one day, expiring on March 1, 2026, in accordance with applicable Canadian securities laws.

Finders' fees were paid to qualified parties in connection with the closing of the offering, as permitted under applicable laws and TSX Venture Exchange policies. The total compensation consisted of $111,938.40 in cash, 557,725 finders' units and 64,155 non-transferable finders' warrants. Each finder's unit is composed of one common share and one-half of one non-transferable warrant. The finders' warrants were issued on the same terms as those issued under the offering.

Two directors of the company subscribed for an aggregate of 677,545 units and gross proceeds of $121,958.10 under the offering. Such participation is considered to be a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is replying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the securities subscribed for does not exceed 25 per cent of the company's market capitalization.

About Stellar AfricaGold Inc.

Stellar AfricaGold is a Canadian precious metal exploration company focused on North and West Africa, with active programs in Morocco and Ivory Coast. Stellar's principal exploration projects are its advancing gold discovery at the Tichka Est gold project in Morocco and its early-stage exploration Zuenoula gold project in Ivory Coast.

The company is listed on the TSX Venture Exchange, the Tradegate Exchange and the Frankfurt Stock Exchange.

We seek Safe Harbor.