Silk Road Energy Appoints New Management and Directors

Gold Re-Brand Begins

Calgary, July 12, 2022 - Silk Road Energy Inc. (TSXV: SLK) reports that it is has appointed a new management team and directors, and has begun the process of re-branding itself as a gold exploration company.

Effective today Michael Judson becomes the company's new Chief Executive Officer replacing outgoing Vladimir Katic.

Judson is a veteran financier and mining executive. He was the founding CEO of TSXV-listed Forest Gate Resources, a mineral exploration company and TSX-listed, Blue Note Mining, which owned and operated the Caribou zinc-lead mine in Bathurst, New Brunswick.

Under Judson's leadership, Blue Note Mining's market capitalization grew from $2 million to $250 million within two years. Forest Gate Resources' market capitalization grew from $1 million to $50 million in two years and was consistently one of the highest traded stocks on the TSX Venture Exchange.

Building-up his new management team, Mr. Judson has appointed Robert Kramberger as Vice-President Investor Relations, and Edward Procyshyn as Vice-President Exploration.

Robert Kramberger has over twenty years of experience in the capital markets and in business development and corporate marketing. Working with CEO, Michael Judson, during the last eighteen years, Mr. Kramberger helped to raised over $200 million for two TSX Venture Exchange-listed companies. Additionally, he helped manage the spin-off of a subsidiary and played a key role guiding companies through a change of business. Mr. Kramberger is also Principal Consultant with Judson & Cie, a financial advisory based in Montreal.

Edward Procyshyn undertook his Ph.D. metallogenic studies at Queen's University in Economic Geology and was a professor of geology at Montreal's Concordia University from 1979 to 1995. He taught field mapping, petrology, structural geology, tectonics and economic geology. Since graduating from the University of Manitoba, B.Sc. Geological Engineering, Edward has worked as a field exploration geologist for INCO, Canico and Amax Exploration and as a mine geologist at Mine Madeleine and Mines Gaspé, Québec. Edward, through his consulting company, Le Groupe GeoInfo Inc has managed exploration projects for private and listed companies exploring for gold and iron deposits in British Columbia, Quebec and Newfoundland, and has undertaken evaluation and due diligence studies leading to negotiated option and joint venture agreements for gold, silver, copper and molybdenum deposits in Armenia, Kyrgyzstan, Russia, Ethiopia and Spain and for diamond deposits in Russia and the North West Territories.

The company also reports changes in the composition of its board. Vladimir Katic, in addition to resigning as CEO, has resigned as a director. The company has appointed current interim CFO, Nathalie Kavanagh, as director. It also has appointed current Corporate Secretary, David A. Johnson, as director.

"The board wishes to thank Mr. Katic for his contributions to the company," said Michael Judson. "Vlad was with the company from the beginning and remained through an exceedingly difficult energy and natural resource market."

Nathalie Kavanagh has over 25 years' experience as a Chartered Professional Accountant. After completing her Bachelor's degree in Business Administration at l'École des Hautes Etudes Commerciales in 1992, she joined Richter LLP's audit division and for 10 years worked in their Montreal and Toronto offices. She later joined their tax practice as a Senior Manager within the Estates Group. Coming from an entrepreneurial background, Mrs. Kavanagh has owned and managed a family business for 8 years and has been a finance executive for owner-managed companies. She currently works as CFO of a residential real estate group in Montreal.

David A. Johnson is an attorney and a trademark agent specializing in corporate law, commercial law, intellectual property and securities. David manages commercial transactions concerning both public and private companies. Mr. Johnson has several years' experience at the senior management, board level and general counsel in a variety of companies across several industries including mining and mineral exploration. David received a Bachelor of Arts (Hons.) from Queen's University, a Master of Urban Planning (M.U.P.), Bachelor of Common Law (LL.B.) and a Bachelor of Civil Law (B.C.L.) from McGill University. He became a member of the Quebec Bar and has since completed the Directors' Education Program at the Rotman School of Management, University of Toronto and has been certified at the Institute of Corporate Directors, (ICD.D).

The company has begun the process of changing its name to reflect its change in business direction.

For more information please contact:
Michael C. Judson, Director,
Silk Road Energy Inc.
T. +1-514-865-5496
Website: www.silkroadenergyinc.com

Cautionary Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", an or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities; and the delay or failure to receive board, shareholder, court or regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

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