O2Gold Increases Proven Extension of the Main Aurora Vein to 450 Meters, Begins Drilling in Quintanillo, and Provides Update on 43-101

Toronto, Ontario – November 30, 2021 – O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce an update of its ongoing drill campaign in Aurora. Highlights All holes drilled to date have crossed a continuous mineralized zone more than 450 meters in strike, where a quartz vein with sulfides shows a downdip extension of more than 150 meters. The vein’s projected extension is 900 meters. So far, the results obtained in the mineralized quartz vein show an average apparent thickness of 0.71 meters and a weighted average grade of 6.27 g/t Au, with values in enrichment zones up to 20.11 g/t Au. The recuperation of the Aurora mine is ongoing, and the tunnels are expected to be drained within 45 days, following which the Company will begin

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O2Gold Begins Drilling New Brownfield and Continues Recuperation of the Aurora Mine

Toronto, Ontario – October 26, 2021 (GlobeNewswire) – O2Gold Inc. (“O2Gold” or the “Company”) (TSXV: OTGO) is pleased to announce that it has begun drilling at its Aparecida brownfield area. Approximately 5 km from the Aurora tunnels, the Aparecida brownfield has been the site of artisanal production going back more than a century. The systematic exploration of the Aparecida area has indicated an anastomosed pattern, with vein mineralization in close proximity. The Company has documented five gold veins in the area and three veinlets at surface. The Fortaleza Vein, the Company’s first target, has a projected extension of at least 400 meters, and rock channel samples have returned maximum values of 42.3 g/t Au and 49.6 g/t Ag. Figure 1 shows the drill targets for the planned 2,000 meters of

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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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