O2Gold Announces Board Changes

TORONTO, March 22, 2023 - O2Gold Inc. (NEX: OTGO.H) ("O2Gold" or the "Company") today announced that Roger Lemaitre has been appointed as a director of the Company, effective immediately.

Mr. Roger Lemaitre is a Professional Engineer and Geologist with more than 30 years of professional experience with both senior and junior mining companies. Mr. Lemaitre held the position of President & CEO of UEX Corporation, a TSX-listed company until 2022, and was CEO and Executive Director of URU Metals Limited, an AIM-listed exploration company. Mr. Lemaitre held a variety of senior management positions with Cameco Corp., including Director of Worldwide Exploration Projects, Manager of Regional Exploration, Saskatchewan and was involved in Cameco's strategic growth team tasked with the identification of opportunities in the uranium sector. Mr. Lemaitre has a M.Sc (Applied) from McGill University, a degree in Geological Engineering from Queens University and an MBA from Athabasca University. Currently, Mr. Lemaitre is the Vice President and Head of Mining of Jourdan Resources Inc., a TSX-V-listed lithium explorer and developer.

The appointment of Mr. Lemaitre follows Chris Younger's resignation as a director. The board and management of the Company express their gratitude to Mr. Younger for his efforts and contributions and wish him well in his future endeavours.

About O2Gold Resources

O2Gold is a mineral exploration company.

For additional information, please contact:

Aaron Atin, Corporate Secretary
Phone: (416) 861-5888
Email: aaron.atin@fmresources.ca

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