Mr. Michel Desjardins reports

GOLDFLARE ANNOUNCES THE APPROVAL OF ITS SHARE CONSOLIDATION PROPOSAL AND UPCOMING EXPLORATION WORK

At its annual and special meeting held on Aug. 21, 2024, Goldflare Exploration Inc. received shareholder approval for the extraordinary resolution authorizing the company to proceed with a share consolidation on a one-for-five basis (see July 24, 2024, press release for more details), subject to TSX Venture Exchange approbation. More than 98 per cent of the votes cast were in favour of the consolidation. All directors of Goldflare were also elected or re-elected, with a minimum of 88 per cent of the votes cast.

Following the meeting, Goldflare's management decided to implement the consolidation without delay. The company expects to obtain the necessary approvals and complete the share consolidation process by Sept. 15.

"I would like to thank, on behalf of the management and directors of Goldflare, all the shareholders for their confidence and strategic support. The vote today on the share consolidation was crucial for the future of the company, and the shareholders clearly expressed their backing for this initiative," said Michel Desjardins, chief executive officer of Goldflare Exploration, at the conclusion of the annual and special meeting held on Aug. 21.

Additionally, the company will begin new exploration work on its properties adjacent to IamGold's Fayolle deposit over the coming weeks. Details of this exploration campaign will be disclosed in an upcoming press release.