American Eagle Gold Appoints Kevin Canario to CFO

TORONTO, Dec. 20, 2021 - American Eagle Gold Corp. ("American Eagle Gold" or the "Company") (TSX.V: AE) is pleased to announce that Kevin Canario has been appointed the Company's Chief Financial Officer. Most recently, he was Corporate Controller of Battle North Gold Corporation where he was instrumental in the eventual sale of the Bateman Gold project. Prior to this, Mr. Canario was the CFO of INV Metals Inc. and worked at PricewaterhouseCoopers LLP for 5 years within the mining assurance practice managing audits for a variety of publicly listed clients ranging from small exploration to large multi-asset operations. Mr. Canario holds a CPA, CA and Honours Bachelor of Commerce from McMaster University, Canada.

American Eagle Gold and the Ore Group would also like to announce the resignation of Jeff Potwarka, the Company's outgoing CFO. The entire Ore Group team thanks Mr. Potwarka for his dedication and many years of service to the team and Company's shareholders and wishes him the best in his future endeavours.

The Company also announces that in accordance with its stock option plan, it has granted a total of 1,475,000 incentive options to officers, directors and consultants of the Company, at an option price of $0.20 per share, exercisable for a period of five years from the date of issue.

About American Eagle Gold Corp.
American Eagle Gold is traded on the TSX Venture exchange under the symbol 'AE'. The Company is focused on exploring its flagship property, Golden Gate. The property is strategically situated on the Cortez trend, which hosts 3 large Carlin-type gold deposits operated by Barrick and Newmont's Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The property is located 10km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as at the two deposit areas.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's expectations regarding future operations and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the application of the proceeds of the Offering as anticipated by management and the inability to obtain the necessary TSX Venture Exchange approval to complete the Offering. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to close the Offering, that the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals, TSX Venture Exchange approval, for the Offering.

Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com

SOURCE American Eagle Gold Corp.