South Atlantic Gold Announces New Continuous Anomaly from Consolidated Geophysics Drone Survey

TSX-V: SAO

South Atlantic Gold Announces New Continuous Anomaly from Consolidated Geophysics

Drone Survey

Kelowna, British Columbia, June 28, 2022 - SOUTH ATLANTIC GOLD INC. (TSX-V: SAO) (“South Atlantic”

or the “Company”) announces the continuance of consolidation and interpretation of the geological and

geophysical data at the Pedra Branca project located in Cear á State, northeastern Brazil. A new updated

map illustrates an anomaly resulting from the geophysical magnetic survey alongside with the 33 top

intercepts to date from Phases I and II (click here to view map).

Douglas Meirelles, CEO stated, “The potential size and scale of the Pedra Branca project is quickly growing

as the consolidation and interpretation of the exploration works continues. The mineralization of a

continuous trend is evident. As highlighted in the June 13, 2022 news release (click here to view), new

compelling targets were discovered and this work will form the basis for the next phase of exploration over

the Mineral Resource area, that remains open in all directions including at depth.

Mr. Meirelles continued, “Moving forward, we will finalize consolidation of the recent exploration results

in order to better understand the structural controls on gold mineralization, which will enable us to

prioritize the best targets for future drilling. This approach is effective on a district-scale asset such as

Pedra Branca which extends for 60km covering an area greater than 45,000 hectares.”

Completed Geophysics Work

The high-resolution geophysics flown over areas of known mineralization presents a unique magnetic

signature which extends beyond the limits of the current resource defined by drilling completed to date.

Integration of his new data with prior geological information will now allow further refinement and

prioritization of targets along the full extent of the controlling structural trend which traverses South

Atlantic’s tenement package.

New Strike Length

The strike length for the mineralized trend over the resource and main target areas has continued to grow

and now stands at 14 kilometers of strike length. Additionally, exploration conducted in both Phase I and

II included drilling with an average depth of approximately 40 meters, hence the trend is not only open

laterally and throughout its extension but open at depth. The map below also highlights an area with no

exploration work in conjunction with the 33 highest grade intercepts that have been released in previous

news releases but have not, until now, been exhibited on a map with the geophysical magnetic results.

TSX-V: SAO

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Qualified Person’s Statement

The scientific and technical information that forms the basis for parts of this news release was reviewed

and approved by Marcelo Antonio Batelochi (P.Geo.), MAUSIMM (CP), the Company’s Exploration

Manager who is a Qualified Person as defined by NI 43-101.

About South Atlantic Gold

South Atlantic Gold is an exploration company engaged in acquiring and advancing mineral properties

located in the Americas. Our flagship asset is the 100%-owned Pedra Branca project, located 280 km

southwest of Fortaleza, Cear á State, Brazil. South Atlantic Gold is focused on creating value for its

shareholders by engaging in the development and acquisition of high -quality mineral assets located in

stable and mining-friendly jurisdictions. South Atlantic Gold is based in Kelowna, British Columbia, and is

listed on the TSX-V under the symbol “SAO”.

ON BEHALF OF THE BOARD

Douglas Meirelles, President and CEO

For more information regarding this news release, please contact:

Anne Hite, Vice President, Investor Relations

T: 250-762-5777

Email: [email protected]

Cautionary Note Regarding Forward-Looking Information

This news release contains statements that constitute "forward -looking Information", as such term is used in

applicable Canadian securities laws . Such forward -looking information involves known and unknown risks,

uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or

developments in the industry to differ materially from the anticipated results, performance or achievements

expressed or implied by such forward-looking information. Forward-looking information includes statements that are

not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates,"

"believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will,"

"would," "may," "could" or "should" occur.

Although the Company believes the forward-looking information contained in this news release is reasonable based

on information available on the date hereof, by its nature forward-looking information involves assumptions and

known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity,

performance or achievements, or other future events, to be materially different from any future results, performance

or achievements expressed or implied by such forward-looking information. There can be no assurance that the

Fundamental Acquisition will be completed as proposed or at all.

Examples of such assumptions, risks and uncertainties i nclude, without limitation, assumptions, risks and

uncertainties associated with general economic conditions; the Covid -19 pandemic; adverse industry events; the

receipt of required regulatory approvals and the timing of such approvals; that the Company ma intains good

relationships with the communities in which it operates or proposes to operate, future legislative and regulatory

developments in the mining sector; the Company ’s ability to access sufficient capital from internal and external

sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and

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generally; the ability of the Company to implement its business strategie s; competition; the risk that any of the

assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks

associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that

results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties

applicable to mineral exploration and development activities and to the Company, including as set forth in the

Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF

THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH

DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD

NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT

UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE

WITH APPLICABLE LAWS.

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 .