Angold Resources Announces Appointment of Award-Winning Exploration Advisory

07.02.2024  |  Newsfile

Vancouver, February 7, 2024 - Angold Resources Ltd. (TSXV: AAU) (OTC Pink: AAUGF) (FSE: 13L0) ("Angold" or the "Company") is pleased to announce the formation of the technical team in charge of advancing the exploration and development of the district-scale, 250,000 acres of drill-ready uranium projects.* Collectively, this group of uranium exploration leaders bring decades of proven discovery experience in the Athabasca Basin.

Technical Advisory Team:

• Garrett Ainsworth: Mr. Ainsworth is a geologist and mining executive who played an instrumental role in the discovery of almost all of the uranium currently known in the prolific Patterson Corridor on the southwest margin of the Athabasca Basin in deposits that include Triple-R (TSX: FCU) and Arrow (TSX: NXE). For his work in the region, he has shared the 2013 AMEBC Colin Spence Award, the 2016 Mines and Money Exploration Award, and the 2018 PDAC Bill Dennis "Prospector of the Year" Award. He is currently President, CEO and Director of District Metals Corp.

• Dale Verran: Mr. Verran is a geologist and mining executive with over 20 years of exploration experience. As former Vice President, Exploration for Denison Mines Corp. (TSX: DML), he was involved in the discovery of over 70 million pounds of U₃O₈ in deposits that include Gryphon and Phoenix. Mr. Verran has a track-record of successful project generation, discovery and project advancement in both Africa and Canada. He is currently CEO at Fortune Bay Corp. which will operate upcoming exploration programs at the Strike and Murmac properties.

• Gareth Garlick: Mr. Garlick is a geologist with over 20 years of experience in mining and mineral exploration. Mr. Garlick is former Senior Geologist and Consulting Projects Manager at Mineral Services Canada Inc., where he contributed as a consultant to exploration, delineation and development work on the J-Zone and Triple R deposits. He has experience in all aspects of the mining cycle ranging from grassroots exploration to resource estimation and resource reconciliation on producing mines. Mr. Garlick is currently Technical Director at Fortune Bay Corp. which will operate upcoming exploration programs at the Strike and Murmac properties.

• Sean Hillacre: Mr. Hillacre has a decade of experience as an economic geologist and a full understanding of project development particularly in the Athabasca Basin. He spent 5 years as part of the technical team at NexGen Energy where he published the first comprehensive academic study on the Arrow Uranium Deposit after extensive years-long research efforts. Mr. Hillacre brings a unique and balanced background integrating academic geoscience with industry experience. He is currently President & VP Exploration at Standard Uranium which will operate upcoming exploration programs at the Sun Dog Property.

• Galen McNamara: Mr. McNamara is a mining executive and geologist with over 15 years of discovery and capital markets experience. As former Senior Project Manager at NexGen Energy he led drilling and exploration activities at the Arrow Deposit where he was instrumental in growing it from an interesting prospect to the world's largest undeveloped high-grade uranium deposit. For his work at Arrow, he shared the 2018 Bill Dennis "Prospector of the Year" Award.

Galen McNamara, Interim CEO, stated: "We are very much looking forward to exploring our newly consolidated projects. I think our collective expertise will be instrumental in unlocking the full potential of the under-recognized northern rim of the Athabasca Basin. To say that these properties are under-explored for basement-hosted high-grade deposits would be an understatement. Our collaborative targeting work is showing at least 50 highly compelling shallow targets on our projects that are largely permitted and drill ready. To start, a preliminary strike length of approximately 30 km has been identified that is host to multiple EM conductors that are plainly uranium fertile. Clearly, we are only just getting started here."

*Acreage remains subject to completion of the previously announced acquisition of 1443904 B.C. Ltd. For further information, readers are encouraged to review the news release issued by the Company on December 22, 2023.

About Angold Resources Ltd.

Angold is an exploration and development company targeting large-scale mineral systems worldwide. The Company's assets include projects in Chile and uranium projects Canada. The Dorado Project in Chile features a major porphyry-gold system where drill results include 302 m at 0.71 g/t Au. The Cordillera Project in Chile is strategically located between two multi-million-ounce gold deposits and features multiple gold exploration targets. The uranium projects in Canada are prospective for high-grade uranium mineralization.

On Behalf of the Board of Directors

"Galen McNamara"

Galen McNamara, Interim Chief Executive Officer

Further information on Angold can be found on the Company's website at www.angoldresources.com and at www.sedarplus.ca, or by contacting the Company by email at info@angoldresources.com.

Forward-Looking Statements:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance and include expectations regarding the intended completion of the acquisition of 1443904 B.C. Ltd. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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