Stellar Africagold Amends Zuénoula Agreement, Côte D’Ivoire, Reduces Royalty
STELLAR AFRICAGOLD AMENDS ZUÉNOULA AGREEMENT,
CÔTE D’IVOIRE, REDUCES ROYALTY
Vancouver, February 6, 2023 – J. François Lalonde , President and Chief Executive Officer of Stellar
A f r i c a G o l d I n c . , ( T S X - V : S P X , T G A T : 6 Y P 1 , F S E : 6 Y P 1 ) ("Stellar" or the "Company") is pleased to
announce:
Modification to Zuénoula Licence Agreement
Stellar has reached an agreement regarding the Zuénoula Gold Li cence (under application) in Côte d’Ivoire with
Altus Strategies Ltd, a wholly owned subsidiary of TSX-V listed Elemental Altus Royalties Corp. ("Elemental Altus")
to modify the existing property purchase agreement and royalty deed.
Summarized, the significant positive changes to the agreements and royalty deed are:
a) To reduce the current Net Smelter Royalty from 2.5% with the ri ght to buy-back 1% of that royalty
for $1,000,000 to a flat 1% Net Smelter Royalty with no buy-back, and
b) To reduce the additional considerations payable from $250,000 i n cash or shares upon reaching
500,000 ounces of gold resources with at least 250,000 in the I ndicated category and a further
$250,000 in cash or shares upon completion of a feasibility study to a flat $500,000 in cash or shares
upon reaching 1,000,000 ounces of gold resources with at least 500,000 ounces in the Indicated
category.
The consideration payable by Stellar for these significant positive amendments is the issuance of 250,000 shares
in Stellar to Elemental Altus upon TSX Venture Exchange accepta nce of the amending agreements and an
additional 250,000 shares upon final issuance of the Zuénoula G old Licence by the Côte d’Ivoire authorities.
Stellar will file these amending agreements with the TSX-V as an Expedited Transaction.
About the Zuénoula Gold Licence
The Zuénoula Gold Licence comprises a single 400km2 permit application which is currently in process with final
approval and licence issuance pending. The Zuénoula Gold Licenc e is in the Marahoue Department in central
Côte d’Ivoire, approximately 300 km north of the capital city o f Abidjan. The licence is located 100 km north of
the town of Yamoussoukro and is accessible by asphalt roads fro m Abidjan. Zuénoula is centred within a NNE
trending Birimian age granite greenstone belt. Zuénoula is located in a desirable gold region that has attracted a
number of foreign corporations including ASX listed Tietto Mine rals Limited with its new producer, the Abujar
Gold Project (see map below). Also active in the region is Perseus Mining with its Yaouré Gold Mine, and Montage
Gold with the Koné gold deposit.
Stellar’s Zuénoula gold project targets a 22 km long oblique EN E trending structure, interpreted by historic air
magnetic data. Geologically, the project reportedly comprises m etasediments, metabasalts and syntectonic
granitoid intrusives.
Stellar is fortunate to have access to qualified and experienced African professionals to manage the legal and
technical requirements of this acquisition. The exploration team in Côte d’Ivoire will be directly managed by
Stellar’s Moroccan director Yassine Belkabir, managing director of African Bureau of Mining Consultants and a
Qualified Person as defined in NI 43-101.
Map showing location of Zuénoula Gold Permit
Relative to Tietto’s Abujar Gold Project
(*Abujar updated ore reserves: Source: Abujar: West Africa's next gold mine (weblink.com.au). “ JORC 2012 Resource contained within 3 deposits: • AG –
55.2Mt at 1.4 g/t Au for 2.43Moz: • 7.7Mt at 1.4 g/t Au for 0.35Moz (Measured) • 30.4Mt at 1.3 g/t Au for 1.27Moz (Indicated) • 17.1Mt at 1.5 g/t Au for
0.81Moz (Inferred) • APG – 41.9Mt at 0.7 g/t Au for 0.96Moz: • 8.5Mt at 0.7 g/t Au for 0.20Moz (Indicated) • 33.3Mt at 0.7 g/t Au for 0.76Moz (Inferred)
• SG – 1.6Mt at 1.2 g/t Au for 0.06Moz (Inferred)”
About Stellar Africagold Inc.
Stellar AfricaGold Inc. is a Canadian exploration company listed on the TSX Venture Exchange symbol TSX.V: SPX,
the Tradegate Exchange TGAT: 6YP1 and the Frankfurt Stock Exchange FSE: 6YP1.
The Company maintains offices in Vancouver, BC and in Montreal, QC and has a representative office in
Casablanca, Morocco. Stellar’s principal exploration projects are its gold discovery at the Tichka Est Gold Project
in Morocco, and the Namarana gold Project in Mali.
The Tichka Est Gold Project is a grouping of seven permits cove ring an area of 82 km 2. The Tichka Est Property
lies within the High Atlas Western Domain about 80 km SSW of the city of Marrakech. The area is accessible year-
round by road to the village of Analghi located near the mineralized gold zone. The mineralized zone is accessible
via an eight-kilometer gravel mountain road constructed by Stellar. Follow up on gold sampling results reported
by ONHYM lead Stellar to the discovery of 4 extensive gold mineralized structures A, B and C and recently C2.
Stellar also holds the drill ready Namarana Gold Project in Mali. Namarana is a 52 Km2 licence that is 100% owned
by Stellar’s Mali subsidiary, Stellar Pacific Mali SARL. Namara na is located 130 km NW of the capital city of
Bamako in the Kankaba Circle of the Koulikoro district.
The technical content of this press release has been reviewed a nd approved by M. Yassine Belkabir, MScDIC,
CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.
Stellar’s President J. François Lalonde can be contacted at 514 -994-0654 or by email at
Additional information is available on the Company’s website at www.stellarafricagold.com.
On Behalf of the Board
J. François Lalonde
J. François Lalonde
President & CEO
This release contains certain "f orward-looking information" und er applicable Canadian securities laws. Forward-looking informa tion reflects the
Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cas es forward-looking
information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects",
"potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Forward looking information contained
in this news release includes, without limitation, statements r elating to the completion of the Opawica Transaction and the ex ploration and
development potential of the Balandougou II permit. Forward lo oking information are based on assumptions made by the Company. Many of these
assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they wil l prove to be correct or
accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: the failure of Stellar to
obtain TSX-V approval of the Opawica Transaction, the failure of Mosaic to complete the Mosaic Concurrent Financing, that the business prospects and
opportunities of the Company w ill not proceed as anticipated; c hanges in the global prices for gold or certain other commoditi e s ( s u c h a s d i e s e l ,
aluminum and electricity); chang es in U.S. dollar and other cur r e n c y e x c h a n g e r a t e s , i n t e r e s t r a t e s o r g o l d l e a s e r a t e s ; r i s k s arising from holding
derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to
successfully integrate acquired as sets; legislative, political or economic developments in the jurisdictions in which the Comp any carries on business;
operating or technical difficult ies in connection with mining o r d e v e l o p m e n t a c t i v i t i e s ; l a w s a n d r e g u l a t i o n s g o v e r n i n g t h e p rotection of the
environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and
development; contests over title to properties, particularly ti tle to undeveloped properties; and the risks involved in the ex ploration, development and
mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital
and operating costs of such projects, and the future prices for the relevant minerals.
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined in the policies of the TSX Vent ure Exchange) accepts
responsibility for the adequacy or accuracy of this release.