Stellar Africagold Completes Phase 1 Trenching of Dioritic Intrusions at Tichka Est Zone B And Discovers Additional Gold Mineralized Structures

Mapping of Diorite Intrusions and Discovery of Additional Gold Structures

Following up on the impressive assay results from the mechanical trench cutting across a diorite body at Zone B at the Tichka Est Gold Project, Morocco (3.5 g/t Au over 155.7 metres - see news release October 4th, 2022 'Gold Associated to Dioritic Sill Grading 3.5 G/T Gold across a True Width of 155.7 Meters') Stellar's exploration crew completed a mapping searching for additional diorite intrusions at Zone B. After completing the mapping program a Phase 1 Trenching program was conducted comprising (i) channel sampling of existing mechanical trenches (road cuts originally), and (ii) new hand tools trenches dug across the recently mapped diorite intrusions. This program discovered additional mineralized gold structures with substantial gold grades and delivered additional evidence of the continuity of gold mineralization at Zone B and the surrounding areas (see Figure 1 below).

Highlights of Phase I Trenching Program

• At Zone B, gold mineralisation was confirmed in two subparallel horizontal structures associated to diorite intrusions (Mechanical Trenches MT2 and MT3).

• In the areas surrounding Zone B, the mapping of the surface diorite intrusions on the other side of the mountain (to the north-west of Zone B) shows a symmetric trend.

• Assay results from sampling in hand tools trenches in the newly mapped diorite intrusions confirmed high gold grades (Trenches NT, TB13, TB14 and TB15).

• Significant Assay Results:

Mechanical Trench MT2 : 1.52 g/t Au over 39.7 meters

and 1.58 g/t Au over 8.6 meters

Mechanical Trench MT3 : 1.27 g/t Au over 80 meters

Trench NT : 2.27 g/t Au over 18 meters

Trench TB13 : 2.19 g/t Au over 5 meters

Trench TB14 : 2.42 g/t Au over 6 meters

Trench TB15 : 1.28 g/t Au over 7 meters

• The North-West and South-East zones in the vicinity of Zone B warrant further immediate exploration for extensions of the diorite intrusions with potential for additional gold discoveries (See Figure 2 below).

• Zones A, C and C' are also characterized by the presence of Diorite intrusions. These zones will be mapped, trenched, and sampled (see Figure 1 below) during 2023.

Figure 1. Tichka Est Zone B

New and historic trench locations and assay results,

and surface diorite intrusions (pale blue zones)

Figure 2. Location of the Mapped Area at Zone B

As indicated in the Figure 2 map above, at only 1 km2 the recently mapped area within the vicinity of Zone B containing the diorite intrusions is very small compared with the total 82 km2 area of the Tichka Est Gold Project. Outcrops of diorite have been observed in other areas of Tichke Est and additional prospecting and mapping will be included in future exploration programs.

Plans advancing for 2023 Drill Campaign

The on-site exploration crew continues the detailed mapping of Zone B while concurrently Stellar's field geologists continue to evaluate all structural features (including the diorite intrusions) to plan the next drill campaign. With new results from each phase of exploration Stellar's geological interpretation of Tichka Est continues to evolve, and the discovery of subparallel horizontal gold structures related to the diorite intrusions and the new extensions to the North-West and South-East of Zone B provide increased confidence for the discovery of a significant gold deposit at Tichka Est.

Technical Information and Quality Control/Quality Assurance Notes

The hand tools trenches were excavated across the Zone B using hand tools to an average depth of 1.5 metres. Sample collection was completed by experienced senior local geologists. The samples were bagged at the sampling site and stored in safe areas until being transported to African Laboratory for Mining and Environment ("Afrilab") in Marrakech for analysis. A total of 101 samples were sent to Afrilab in Marrakech for this program. This number included 4 standards, 4 duplicates and 4 blanks samples that were added to the batch for the purpose of quality control, and all were well within the acceptable limits.

ABOUT TICHKA EST PROJECT, MORROCO

The Tichka Est gold project, comprising seven permits aggregating 82 square kilometres, is in the High Atlas Mountain region of Morocco approximately 80 kilometres south-southwest of Marrakech, a region easily accessible year-round via national and regional roads to the village of Analghi located near the mineralized gold zone. Follow up on gold sampling results reported by ONHYM lead Stellar to the discovery of 4 extensive gold mineralized structures A, B and C and recently C2.

ABOUT STELLAR AFRICAGOLD INC.

Stellar AfricaGold Inc. is a Canadian precious metal exploration company listed on the TSX Venture Exchange symbol TSX.V: SPX, the OTCQB® Venture Market symbol OTCQB: STLXF, the Tradegate Exchange TGAT: 6YP1 and the Frankfurt Stock Exchange FSX: 6YP1.

The Company maintains offices in Vancouver, BC and in Montreal, QC and has a representative office in Casablanca, Morocco.

Stellar's principal exploration projects are its gold discovery at the Tichka Est Gold Project in Morocco, and the Namarana gold Project in Mali.

The technical content of this press release has been reviewed and approved by M. Yassine Belkabir, MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.

Stellar's President J. François Lalonde can be contacted at 514-994-0654 or by email at lalondejf@stellarafricagold.com

Additional information is available on the Company's website at www.stellarafricagold.com.

On Behalf of the Board

J. François Lalonde

President & CEO

Readers are cautioned that descriptions of mineralization and the channel sample assay results reported in this news release are preliminary and/or early-stage results. While these results are considered encouraging, there is no guarantee that they indicate significant mineralization will be intersected in future drilling programs completed by the Company.

This release contains certain "forward-looking information" under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company's current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.

Neither the 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.