O2Gold Intercepts the Main Aurora Vein at Up to 19 G/T Au, Increases Proven Vein Depth, and Updates Exploration From Brownfields

Toronto, Ontario – October 4, 2021 – O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce that the latest results from its ongoing drill program confirm the mineralized system of the main Aurora vein located at its property in Colombia at depth. Highlights AUR-21-002, located 100 meters north of hole AUR-21-001, intercepted the main Aurora vein and showed the following results: 0.7m @ 19.26 g/t Au and 10.5 g/t Ag from 23.10m to 23.80m. The gold-silver intercept of hole AUR-21-003 was between 159.20 to 163.20 meters, equaling 2 meters of true thickness. The Company’s drill program is soon expected to expand to its nearby brownfields of Aparecida and Quintanillo, where ongoing exploration work has identified at least 9 separate veins, one with a projected extension of 1.2km.

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O2Gold Completes Shares for Debt Settlement

Toronto, Ontario – September 22, 2021 (GlobeNewswire) – O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce that it has completed its shares for debt settlement with Geominas Serviminas JV that was previously announced on September 3, 2021 (the “Shares for Debt Settlement”). Pursuant to the Shares for Debt Settlement, the Company has issued 800,323 common shares of the Company at a deemed price of $0.22 per share in satisfaction of outstanding debt of approximately $176,000. The common shares issued pursuant to the Shares for Debt Settlement are subject to a four month and one day hold period expiring on January 22, 2022. About O2Gold O2Gold is a mineral exploration company with activities in Colombia. The Company’s contiguous 30,000 ha land package includes several brownfields and largely

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O2Gold Intercepts 20 G/T Au at the Main Aurora Vein, Which Has A Projected Extension of at Least 700 Meters, at Only 97 Meters of Depth

Toronto, Ontario – September 21, 2021 (GlobeNewswire) – O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to report high-grade gold-silver intercepts from its first drill hole at the Aurora Tunnel in Colombia, where the Company has exploitation and production permits. Key Highlights Hole AUR-21-001 targeted down-dip extensions of high-grade gold-silver mineralization indicated by rock chip sampling and prior artisanal production at the Aurora Tunnel. A mineralized interval was encountered (reported as downhole intervals) with the following results: 1.6 m @ 9.19 g/t Au and 1.89 g/t Ag from 97.4 m, including 0.7 m @ 20.11 g/t Au and 3.30 g/t Ag @ 97.4 m. AUR-21-001 was the first hole drilled in the Company’s planned 8,000 m drilling campaign. Three additional holes have been completed, the cores of which

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O2Gold Strengthens Balance Sheet Via Shares for Debt Settlement

Toronto, Ontario – September 3, 2021 – O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce that it has entered into a settlement agreement dated September 2, 2021 (the “Settlement Agreement”) with Geominas Serviminas JV (“Geominas”) to settle approximately $176,000 of O2Gold’s outstanding cash indebtedness owing to Geominas in connection with the Company’s exploratory drill program. Pursuant to the Settlement Agreement, the Company has agreed to issue Geominas 800,323 of its common shares (the “Common Shares”) at a deemed price per share of $0.22, based on the closing price of the Common Shares on the TSX Venture Exchange (“TSXV”) on September 2, 2021 (the “Settlement”). As a result of the Settlement, the Company’s cash cost of the drilling program is expected to be approximately $123 per meter.

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New Ground Geophysics Results Extend the Projected Mineralization of Aurora-Quintanillo Almost 4 KM Along Strike

Toronto, Ontario – August 31, 2021 — O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce the results of the geophysical survey in the Aparecida brownfield. Key Highlights The ground geophysical survey allowed the interpretation of one zone of 650 x 500 meters in area with an anastomosed vein pattern, which had already been identified in surface mapping but whose extent was unknown. At least four different vein directions were identified, including the vein from the Fortaleza mine, where channels chips with values of up to 42.3 g/t Au have been collected. Methodology The geoelectrical survey methodology was chosen because it is known to identify vein structures in the same geological context successfully. The methods are as follows: Spontaneous Potential (SP): measures the spontaneous polarization due to

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The Company Begins Drilling and New Ground Geophysics Results Extend the Projected Vein Mineralization of Aurora-Quintanillo

Toronto, Ontario – August 17, 2021 – O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce that it has begun drilling at the Aurora mine targets, the site of an expected 2,000 meters of drilling. The Company has also received the results of additional geophysics surveying in the Aurora project area. Key Highlights The ground geophysics survey allowed the interpretation of the Quintanillo mine’s vein structure of 1.2 km, which had already been identified in surface mapping but whose extent was unknown. In addition to showing the continuity of this vein, the survey also indicated the possibility of two more associated orthogonal vein structures and two structures that could be extensions of the Aurora vein system. The integration of the Aurora-Quintanillo target shows a projected vein system

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