<div id="readability-page-1"><div>(TheNewswire)<ul><ul></ul></ul>March 13, 2026 - TheNewswire – Vancouver, BritishColumbia – South Atlantic Gold Inc. (TSX-V:SAO) (“South Atlantic” orthe “Company”) announces further to its news releases of February 13,2026 and February 26, 2026, it has closed the non-brokered privateplacement offering (the “Offering”) for gross proceeds ofC$4,200,000. The Offering consisted of the issuance of 84,000,000common shares of the Company (the “Shares”) at a priceof C$0.05 per Share. In connection with the Offering the Company paidaggregate finders' fees on externally sourced funds of $43,475cash, issued 4,167,500 Shares (the “Finder Shares”) ata deemed price of $0.05 and issued 5,037,000 non-transferrable finderswarrants (“FinderWarrant”). Each Finder Warrant will entitle the holder to acquire one Share at a price ofC$0.065 until March 13, 2028. The Shares issued pursuant to the Offering, FinderWarrants and Finder Shares are subject to a four-month and one dayhold period under applicable Canadian securities laws expiring on July14, 2026.The proceeds of the Offering will be used to advancethe Company’s Pedra Branca Project in Brazil and for generalcorporate purposes.Insiders of the Company, participated in the Offeringfor an aggregate 2,050,000 Shares. Such participation is considered arelated party transaction within the meaning of MultilateralInstrument 61-101 – Protection of Minority Security Holders in SpecialTransactions (&#34;MI 61-101&#34;). The related party transaction is exempt from theshareholder approval and formal valuation requirements pursuant to theexemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, asneither the fair market value of the gross securities to be issuedunder the Private Placement nor the consideration to be paid by theinsiders will exceed 25% of the Company's marketcapitalization. In addition, as previously announced the Company hassettled C$500,000 of debt owed in connectionwith a loan and unsecured promissory note agreement (the“Loan”) with a non-arm’s length party ofthe Company (the “Lender”) (see news releases of February 26, 2026,February 13, 2026 and July 31, 2025), and hasissued 10,000,000 Shares (the “Debt Shares”) at a deemed price of C$0.05per Share (the “DebtSettlement”). The Debt Shares issued pursuantto the Debt Settlement are subject to a four-month and one day holdperiod under applicable Canadian securities laws expiring on July 14,2026.The Lender is a related party of the Company and as aresult, the repayment under the Debt Settlement constitutes a&#34;Related Party Transaction&#34; for the purposes of MI 61-101.The Company is relying upon exemptions from the formal valuation andminority shareholder approval requirements under Sections 5.5(a) and5.7(1)(a) of MI 61-101, respectively, as the fair market value of theRelated Party Transaction, collectively, does not exceed 25% of theCompany's market capitalization, as determined in accordance withMI 61-101. The Common Shareshave not been, and will not be, registered under the United StatesSecurities Act of 1933, as amended (the “U.S. Securities Act”), orany U.S. state securities laws, and may not be offered or sold in theUnited States, or to or for the account or benefit of a U.S. person ora person in the United States, without registration under the U.S.Securities Act and all applicable U.S. state securities laws, orcompliance with the requirements of applicable exemptions therefrom.This press release shall not constitute an offer to sell or thesolicitation of an offer to buy securities in the United States, norshall there be any sale of these securities in any jurisdiction inwhich such offer, solicitation or sale would be unlawful.About South Atlantic GoldSouth Atlantic is an exploration company engaged inacquiring and advancing mineral properties in the Americas. Forfurther information, please visit our website at www.southatlanticgold.com.ON BEHALF OF THE BOARDDouglas Meirelles, President and CEOFor more information regarding thisnews release, please contact:Douglas Meirelles, President and CEOT: 250-762-5777Email: ir@southatlanticgold.comCautionary NoteRegarding Forward-Looking InformationThis news release containsstatements that constitute “forward-looking Information”, as suchterm is used in applicable Canadian securities laws. Suchforward-looking information involves known and unknown risks,uncertainties and other factors that may cause the Company’s actualresults, performance or achievements, or developments in the industryto differ materially from the anticipated results, performance orachievements expressed or implied by such forward-looking information.Forward-looking information includes statements that are nothistorical facts and are generally, but not always, identified by thewords “expects,” “plans,” “anticipates,” “believes,”“intends,” “estimates,” “projects,” “potential” andsimilar expressions, or that events or conditions “will,”“would,” “may,” “could” or “should” occur.Forward-looking information in this news release includes theCompany’s expectations of the intended use of net proceeds from theOffering; theCompany's resource properties and future capital requirements;and the Company's plans, focus and objectives.Although the Company believes theforward-looking information contained in this news release isreasonable based on information available on the date hereof, by itsnature forward-looking information involves assumptions and known andunknown risks, uncertainties and other factors which may cause ouractual results, level of activity, performance or achievements, orother future events, to be materially different from any futureresults, performance or achievements expressed or implied by suchforward-looking information. Examples of such assumptions, risksand uncertainties include, without limitation, assumptions, risks anduncertainties associated with general economic conditions; adverseindustry events; the receipt of required regulatory approvals and thetiming of such approvals; that the Company maintains goodrelationships with the communities in which it operates or proposes tooperate, future legislative and regulatory developments in the miningsector; the Company’s ability to access sufficient capital frominternal and external sources, and/or inability to access sufficientcapital on favorable terms; mining industry and markets in Canada andgenerally; the ability of the Company to implement its businessstrategies; competition; the risk that any of the assumptions provenot to be valid or reliable, which could result in delays, orcessation in planned work, risks associated with the interpretation ofdata, the geology, grade and continuity of mineral deposits, thepossibility that results will not be consistent with the Company’sexpectations, as well as other assumptions risks and uncertaintiesapplicable to mineral exploration and development activities and tothe Company, including as set forth in the Company’s publicdisclosure documents filed on the SEDAR+ website atwww.sedarplus.ca.THEFORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTSTHE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASEAND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULDNOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULDNOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANYMAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANYPARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLELAWS. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES Copyright (c) 2026 TheNewswire - All rights reserved.</div></div>

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South Atlantic Gold Inc. has closed a non-brokered private placement offering, raising C$4.2 million through the issuance of 84 million common shares at C$0.05 each. The proceeds will be used for the Pedra Branca Project in Brazil and general corporate purposes. Insiders participated in the offering, which is considered a related party transaction. Additionally, the company settled C$500,000 of debt by issuing 10 million shares at the same price. Both transactions are exempt from formal valuation and minority shareholder approval requirements under Canadian securities laws.

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South Atlantic Announces Closing of Private Placement and Shares for Debt Arrangement