Allied GOLD Announces Closing of $53 Million Streaming Agreement with Triple Flag

NEWS RELEASE

ALLIED GOLD ANNOUNCES CLOSING OF $53 MILLION STREAMING AGREEMENT WITH

TRIPLE FLAG

TORONTO, ON – August 14, 2024 ─ Allied Gold Corporation (TSX: AAUC) ("Allied" or the

"Company") is pleased to announce the closing of its previously announced streaming transaction

(the “Stream Transaction”) with Triple Flag International Ltd., a wholly-owned subsidiary of Triple

Flag Precious Metals Corp. (collectively, “Triple Flag”).

Under the terms of the Stream Transaction, Allied has received a US$53 million upfront cash

payment (the “Advance Amount”) and will receive ongoing payments equal to 10% of the spot

gold price for a portion of its production. Triple Flag will have the right to purchase 3% of the

payable gold related to production at each of the Agbaou and Bonikro mines, subject to a step -

down to 2% after set delivery thresholds.

The closing of this transaction crystallizes significant value in Allied’s Côte d'Ivoire Complex (“CDI

Complex”) and provides the financial flexibility to advance exploration, growth, and optimization

initiatives. The CDI Complex, comprising the Agbaou and Bonikro mines, remains a central

element of Allied’s growth strategy.

Allied continues to advance its stream and gold prepay financing for its Kurmuk project and

evaluate how to redeploy cash flows otherwise previously allocated to Kurmuk and the CDI

Complex toward the advancement of its expansion plans at Sadiola.

About Allied Gold Corporation

Allied Gold is a Canadian -based gold producer with a significant growth profile and mineral

endowment which operates a portfolio of three producing assets and development projects

located in Côte d'Ivoire, Mali, and Ethiopia. Led by a team of mining executives with operational

and development experience and proven success in creating value, Allied Gold is progressing

through exploration, construction and operational enhancements to become a mid -tier next

generation gold producer in Africa and ultimately a leading senior global gold producer.

Advisors and Counsel

National Bank Financial acted as financial advisor, and Cassels Brock & Blackwell LLP acted as

legal advisor to Allied on the Stream Transaction.

For further information, please contact:

Allied Gold Corporation

Royal Bank Plaza, North Tower

200 Bay Street, Suite 2200

Toronto, Ontario M5J 2J3 Canada

Email: [email protected]

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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS

This press release contains "forward-looking information" under applicable Canadian securities legislation. Except for statements of

historical fact relating to the Company, information contained herein constitutes forward-looking information, including, but not limited

to, any information as to the Company's strategy, objectives, plans or future financial or operating performance. Forward -looking

statements are characterized by words such as "plan", "expect", "budget", "target", "project", "intend", "believe", "anticipate", "estimate"

and other similar words or negative versions thereof, or statements that certain events or conditions "may", "will", "should", "would" or

"could" occur. In particular, forward -looking information included in this press release includes, without limitation, statements with

respect to information concerning the Stream Transaction, conditions precedent and the closing thereof, expectations to be fu lly

financed, expected production, exploration, development and expansion plans disc ussed herein being met. Forward -looking

information is based on the opinions, assumptions and estimates of management considered reasonable at the date the statements

are made, and is inherently subject to a variety of risks and uncertainties and other kno wn and unknown factors that could cause

actual events or results to differ materially from those projected in the forward -looking information. These factors include the

Company's dependence on products produced from its key mining assets; fluctuating price of gold; risks relating to the exploration,

development and operation of mineral properties, including but not limited to adverse environmental and climatic conditions, unusual

and unexpected geologic conditions and equipment failures; risks relating to o perating in emerging markets, particularly Africa,

including risk of government expropriation or nationalization of mining operations; health, safety and environmental risks and hazards

to which the Company's operations are subject; the Company's ability t o maintain or increase present level of gold production; the

Company’s ability to execute on its expansion and optimization plans; nature and climatic condition risks; counterparty, credit, liquidity

and interest rate risks and access to financing; the Com pany’s success in executing non -dilutive financing alternatives; cost and

availability of commodities; increases in costs of production, such as fuel, steel, power, labour and other consumables; risks associated

with infectious diseases; uncertainty in the estimation of Mineral Reserves and Mineral Resources; the Company's ability to replace

and expand Mineral Resources and Mineral Reserves, as applicable, at its mines; factors that may affect the Company's future

production estimates, including but not lim ited to the quality of ore, production costs, infrastructure and availability of workforce and

equipment; risks relating to partial ownerships and/or joint ventures at the Company's operations; reliance on the Company's existing

infrastructure and supply c hains at the Company's operating mines; risks relating to the acquisition, holding and renewal of title to

mining rights and permits, and changes to the mining legislative and regulatory regimes in the Company's operating jurisdicti ons;

limitations on insurance coverage; risks relating to illegal and artisanal mining; the Company's compliance with anti -corruption laws;

risks relating to the development, construction and start-up of new mines, including but not limited to the availability and performance

of contractors and suppliers, the receipt of required governmental approvals and permits, and cost overruns; risks relating to

acquisitions and divestures; title disputes or claims; risks relating to the termination of mining rights; risks relating to security and

human rights; risks associated with processing and metallurgical recoveries; risks related to enforcing legal rights in forei gn

jurisdictions; competition in the precious metals mining industry; risks related to the Company's ability to service its d ebt obligations;

fluctuating currency exchange rates (including the US Dollar, Euro, West African CFA Franc and Ethiopian Birr exchange rates); risks

related to the Company's investments and use of derivatives; taxation risks; scrutiny from non -governmental organizations; labour

and employment relations; risks related to third -party contractor arrangements; repatriation of funds from foreign subsidiaries;

community relations; risks related to relying on local advisors and consultants in foreign jurisdiction s; the impact of global financial,

economic and political conditions, global liquidity, interest rates, inflation and other factors on the Company's results of operations and

market price of common shares; risks associated with financial projections; force majeure events; transactions that may result in

dilution to common shares; future sales of common shares by existing shareholders; the Company's dependence on key management

personnel and executives; vulnerability of information systems including cyber at tacks; as well as those risk factors discussed or

referred to herein.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially

from those described in forward-looking information, there may be other factors that could cause actions, events or res ults to not be

as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual

results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to

update forward-looking information if circumstances or management's estimates, assumptions or opinions should change, except as

required by applicable law. The reader is cautioned not to place undue reliance on forward -looking information. The forward-looking

information contained herein is presented for the purpose of assisting investors in understanding the Company's expected fina ncial

and operational performance and the Company's plans and objectives and may not be appropriate for other purposes.