Alerio Contracts with Kangari Consulting

ALERIO GOLD CORP. CONTRACTS WITH KANGARI CONSULTING LLC FOR GUYANA WORK PROGRAMS

FOR IMMEDIATE RELEASE

Vancouver, British Columbia – March 3, 2022 – Alerio Gold Corp. (“Alerio”, or the “Company”) (ALE:CSE)

announces that Mr. Timothy Strong, of Kangari Consulting has been contracted to provide oversight in

Guyana on Alerio’s upcoming work program.

Mr. Strong is a graduate of the prestigious Camborne School of Mines (UK), and an exploration geologist

with over 12 years’ experience in international mineral exploration. A professional member of the IOM3

(MIMMM) Tim has worked on 6 continents on a variety of deposit settings and mineral development

stages.

Having spent many years in West Africa, Tim brings a wealth of experience in greenstone orogenic gold

mineralisation from project generation through to feasibility studies and production in locations with a

similar geological setting to that found in Guyana.

In 2019 Tim provided lectures at the University of Guyana on the subject of orogenic gold targeting, these

courses were provided to both current students, members of the Guyana Geology and Mines

Commission, and industry professionals.

Tim is also the owner and principal geologist of Kangari Consulting LLC, based in Miami, USA, Kangari

provides exploration, mining and strategy solutions to a range of clients from junior explorers through to

listed miners and the capital markets

On his involvement with the company Tim stated: ‘’Having visited the property in late 2021, and

constructing the associated NI43-101, I am excited at the opportunity to work with Alerio Gold as a

Technical Advisor to assist in the advancement of the world class Tassawini project and the wider

exploration portfolio. The Tassawini project offers the company a near production asset with over 439,000

ounces of gold in the indicated category. With a wealth of historical data, including nearly 50,000 meters

of drilling, the company is positioned to re-interpret the geological model of the deposit and complete an

up to date NI43-101 compliant mineral resource estimate. This will then be followed by re-commissioning

of the existing camp, in-fill drilling to increase geological confidence, and a pre-feasibility study in the near

future. ‘’

Mr. Jonathan Challis, CEO of Alerio Gold Corp. comments “we are thrilled to have Tim as part or our team

moving forward in Guyana. With gold now trading in the US$1800 to US$1900 per ounce range (some

US$900 higher than when the properties were last reviewed), our historical resource gives us a running

start. Tim’s expertise as a Geo and in Guyana will be of great assistance as we start our work programs”.

About Alerio Gold Corp.

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

exploring, and developing natural resource properties, with a focus in Guyana, SA. The company currently

has 100% interest in two gold properties located in Guyana.

ON BEHALF OF THE BOARD of DIRECTORS

Geoff Balderson”

Geoff Balderson, CFO

For further information, please contact:

Telephone: (604) 343-3739

Email: [email protected]

Website: aleriogold.com

Forward-Looking Information

This press release contains forward-looking statements. Forward-looking statements can be identified by

the use of words such as, anticipates”, expects”, is expected”, intends”, believes”, or variations of such

words and phrases or state that certain actions, events or results may” or will” be taken, occur or be

achieved. Forward-looking statements include those relating to the acquisition by Alerio Gold Corp. of all

of the Properties and the corresponding issuance of the Consideration Shares, the satisfaction of necessary

terms and conditions of the Definitive Agreement to complete the Acquisition, and the ownership of the

Properties via power of attorney.

Forward-looking statements are not a guarantee of future performance and are based upon a number of

estimates and assumptions of management in light of management s experience and perception of trends,

current conditions and expected developments, including assumptions related to the ability of both

companies to successfully complete all the conditions precedent under the Definitive Agreement and the

companies receiving all necessary future approvals and permits. Actual results, performance or

achievement could differ materially from that expressed in, or implied by, any forward-looking statements

in this press release, and, accordingly, undue reliance should not be placed on any such forward-looking

statements and they are not guarantees of future results. Forward-looking statements involve significant

risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated

events to differ materially from those expressed or implied in any forward-looking statements. Except as

required by law, Alerio Gold Corp. undertakes no obligation to publicly update any forward-looking

statements, whether as a result of new information, future events or otherwise.

The CSE nor its market regulator does not accept responsibility for the adequacy or accuracy of this news

release. The CSE has in no way passed upon the merits of the proposed Transaction and has neither

approved nor disapproved the contents of this news release.