SAO.V · 2024-08-06 12:00:00

South Atlantic Gold Inc. Announces the Disposition of Big Kidd Property

Mergers & Acquisitions

TSX-V: SAO

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August 6, 202 4 – Vancouver, British Columbia – South Atlantic Gold Inc. (TSX -V:SAO) (the “ Company”) is

pleased to announce that it has completed the disposition of its Big Kidd Property pursuant to a definitive

purchase and sale agreement dated July 15, 2024 between the Company and TRR Services LLC in consideration

of a cash payment of $575,000 paid on the closing date of August 2, 2024.

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, Ceará 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 l isted 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:

Douglas Meirelles, President and CEO

T: 250-762-5777

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.