Fred Leigh Disposes of Common Shares in O2Gold Inc.

TORONTO, March 30, 2021 - 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.

Mr. Leigh disposed of the Common Shares in exchange for the cash proceeds. Mr. Leigh may acquire additional securities of the Company in the future, may dispose of some or all of the securities or may continue to hold his current position.

A copy of the early warning report filed in respect of the transaction described above will be made available under the Company's profile on SEDAR at www.sedar.com in accordance with the timelines set out in National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

For further information or to request a copy of the early warning report please contact:

Fred Leigh
Suite 900, 65 Queen St. W.
Toronto, Ontario
M5H 2M5
fleigh@forbesmanhattan.com
(416) 861-5933

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