O2Gold Completes Previously Announced Exploration, Advances Sampling, and Readies for Drilling

O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce results from its ongoing exploration of its brownfield properties, as well as the completion of spontaneous potential surveys ahead of its anticipated drill campaign. In the Aurora-Quintanillo area (“Aurora”), a total of 6,850 meters of lines were surveyed, at intervals of approximately 200 meters and with measuring points every 20 meters. Near the Aurora drill targets, where 2,000 meters of drilling is scheduled to begin next month, lines were opened every 50 meters to better detail the veins’ extension and depth.

O2Gold Identifies First Drill Targets, Updates Exploration Campaign, and Anticipates Forthcoming Transformation of Exploitation Title

O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce its first drill targets on the properties acquired from Grupo de Bullet (the “Project”) earlier this year, as well as further details of its ongoing exploration campaign. For more information about the acquisition of the Project, please see the Company’s press release dated April 23, 2021, which is available on the Company’s SEDAR profile at www.sedar.com.

O2Gold Identifies Two New Vein Systems, Updates the Works Developed and Other Results in the Otú Centro Gold Project, in Segovia, Colombia

TORONTO, May 07, 2021 (GLOBE NEWSWIRE) — O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce the first results of its work on the properties acquired from Grupo de Bullet (the “Properties”) earlier this year (the “Acquisition”), as well as some of the Company’s forthcoming exploration plans. For more information about the Acquisition, please see the Company’s press release dated April 23, 2021, which is available on the Company’s SEDAR profile at www.sedar.com.

O2Gold Announces Grant of Compensation Securities

TORONTO, April 30, 2021 (GLOBE NEWSWIRE) — O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) today announces that, subject to regulatory approval, it has granted 3,775,000 restricted share units (the “RSUs”) to certain officers and consultants of the Company in accordance with the Company’s restricted share unit compensation plan and 1 million stock options to a consultant of the Company in accordance with the Company’s stock option plan. The RSUs and options vest immediately. The options may be exercised at a price of $0.33 per option for a period of five years from the date of grant. The common shares underlying the RSUs are subject to a four month hold period in accordance with the policies of the TSX Venture Exchange.

O2Gold Closes Acquisition of Colombian Gold Project

TORONTO, April 23, 2021 (GLOBE NEWSWIRE) — O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce that it has closed its previously announced acquisition of a gold mining project in Colombia known as the “Otu Central Project” (the “Acquisition”). The Otu Central Project consists of interests in 26 mining claim titles and applications in the Segovia/Zaragoza regions of Antioquia in Colombia (collectively, the “Assets”). For more information about the Acquisition, please see the Company’s press releases dated October 28, 2020, November 30, 2020 and December 11, 2020, which are available under the Company’s SEDAR profile at www.sedar.com.

O2Gold Closes Private Placement

TORONTO, April 16, 2021 (GLOBE NEWSWIRE) — O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce that it has closed its previously announced non-brokered private placement financing (the “Offering”). The Company issued 17,390,000 units (each, a “Unit”) at a price of $0.20 per Unit for gross proceeds of $3,478,000. For more information on the Offering, please see the Company’s press releases dated January 14, 2021 and March 22, 2021, which are available under the Company’s profile on SEDAR at www.sedar.com.

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.

O2Gold Announces Board Appointment

TORONTO, April 08, 2021 (GLOBE NEWSWIRE) — O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce that Mr. Raziel Zisman has been appointed to the Company’s board of directors, effective immediately.

Fred Leigh Disposes of Common Shares in O2Gold Inc.

TORONTO, March 30, 2021 (GLOBE NEWSWIRE) — On March 30, 2021, Fred Leigh, personally and through 2378083 Ontario Inc., a company under Mr. Leigh’s control and direction, disposed of an aggregate of 9,000,000 common shares of O2Gold Inc. (the “Company“) (TSX-V: OTGO), a company with its head office at Suite 900, 65 Queen St. W., Toronto, Ontario M5H 2M5, in a private sale for aggregate gross proceeds to Mr. Leigh of $450,000. Immediately prior to the disposition of the aforesaid securities, Mr. Leigh beneficially owned 9,872,478 common shares of the Company (“Common Shares”), which represented approximately 14.23% of the outstanding Common Shares on a non-diluted basis. As a result of this transaction, Mr. Leigh now beneficially owns 872,478 Common Shares, which represents approximately 1.26% of the outstanding Common Shares on a non-diluted basis.

O2Gold Provides Update on Acquisition of Colombian Gold Project

TORONTO, March 29, 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 parties additional time to complete the previously announced $5 million financing (the “Offering”) and the remaining legal formalities in relation to the transactions contemplated in the share purchase agreement dated October 26, 2020, as amended, the parties agreed to extend the outside date from March 31, 2021 to May 31, 2021. The Acquisition and the Offering are now expected to be completed in April 2021.