Alerio Announces MCTO Update

ALERIO GOLD ANNOUNCES MANAGEMENT CEASE TRADE ORDER UPDATE

January 23, 2024 – VANCOUVER, BRITISH COLUMBIA – Alerio Gold Corp. (CSE: ALE; OTC: ALEEF) (“Alerio”

or the “ Company”) In accordance with National Policy 12 -203 – Management Cease Trade Orders, the

Company is providing an update to its previously disclosed temporary management c ease trade order

("MCTO") announced January 2, 2024, in respect of the audited financial statements and corresponding

management discussion and analysis for the year ended August 31, 2023, including the CEO and CFO

certificates (collectively, the “Annual Filings”) that were not filed by the required regulatory filing deadline

of December 29, 2023.

The Company is working on the requirements to complete the Annual Filings and will provide updates as

further information relating to the Annual Filings is available.

Until the Annual Filings are completed, the MCTO will be in effect and Alerio will issue bi-weekly default

status reports. Alerio confirms that there have been no material business developments or other material

information relating to its affairs as of the date of this news release that have not been generally disclosed.

About Alerio Gold Corp.

Alerio Gold is a mineral exploration and development company in the business of acquiring, and exploring

gold properties, with a focus in Guyana, South America. The company currently has 100-per-cent interest

in two properties located in Guyana S.A.

ON BEHALF OF THE BOARD OF DIRECTORS

“Allan Fabbro”

Allan Fabbro, CEO

For further information, please contact:

Geoff Balderson

Chief Financial Officer, Secretary, and Director

Telephone: 604-602-0001

Email: [email protected]

Forward Looking Statements

This news release contains certain forward -looking statements. The use of the word “expected”,

“projected”, “pursuing”, “plans” and similar expressions are intended to identify forward -looking

statements. Forward -looking statements in this news release include statements regarding the

application for the MCTO and the completion of the Required Filings and the timing thereof. The forward-

looking statements are made as at the date hereof and the Company disclaims any intent or obligation to

publicly update any forward -looking statements, where because of new information, future events or

results, or otherwise, except as required by applicable securities laws.