O2Gold Provides Update on Acquisition of Colombian Gold Project

TORONTO, April 12, 2021 (GLOBE NEWSWIRE) — O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to provide an update on its previously announced acquisition of a gold mining project in Colombia known as the “Otu Central Project” (the “Acquisition”). To allow the Company additional flexibility to raise the funds required pursuant to the share purchase agreement dated October 26, 2020, as amended, the vendors agreed that such funds may be raised through loans or the exercise of certain of its outstanding common share purchase warrants. The Company continues to anticipate that the Acquisition will be completed in April 2021.