Vancouver, British Columbia - Alma Gold Inc. (CSE: ALMA) ('Alma Gold' or the 'Company') announces that it has closed the previously announced debt settlement agreements (the 'Settlement Agreements') to settle outstanding debts owed to creditors totaling $154,537.90, which includes outstanding fees owed to directors and contractors working for Alma Gold (the 'Debt Settlement').

Pursuant to the Settlement Agreements, the Company has issued an aggregate of 1,545,379 Common shares at a deemed price of $0.10 per Common share.

Securities issued pursuant to the Settlement Agreements have a statutory hold period which will expire on November 13, 2024 in accordance with applicable securities laws.

MI 61-101 Disclosure

The Debt Settlement transaction with directors of the Company constitutes a 'related party transaction' within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101') as the CEO and two directors of the Company received Common shares in connection with the Debt Settlement. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the Debt Settlement transaction with the insider does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.

About Alma Gold Inc.

Alma Gold Inc. is a gold-focused exploration company based in Bedford, Nova Scotia. Alma Gold Inc. through its subsidiary Karita Gold Corp. is exploring the Karita West Project and Dialakoro Project (in application process) in Guinea and owns the Clarence Stream North Gold Project in southwest New Brunswick, Canada.

Contact:

Gregory Isenor

President & Chief Executive Officer

Alma Gold Inc.

Email: gpisenor@karitagold.com

Forward-Looking Information

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and includes those risks set out in the Corporation's management's discussion and analysis as filed under the Corporation's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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