Silk Road Energy to Resume Trading on the NEX Exchange

Calgary, Alberta--(Newsfile Corp. - April 11, 2022) - Silk Road Energy Inc. (TSXV: SLK.H) ("Silk Road" or the "Company") announces that the common shares of the Company will resume trading on the TSX NEX Exchange as of Wednesday, April 13, 2022.

Conditional acceptance has been granted for the Company's reactivation for trading on the TSX Venture Exchange ("TSXV") today (the "Reactivation"). The Reactivation is conditional on shareholders approving the non-arm's length acquisition of the Amikougami and Otto, Kirkland Lake properties (the "Acquisition") and the disposition of remaining oil and gas assets (the "Disposition") and the completion of the previously announced private placement.

The Acquisition consists of Silk Road acquiring from Record Gold Corp, a private exploration company, a 100 percent interest in the Amikougami and Otto gold exploration concessions located near Kirkland Lake, Ontario, in return for approximately nine million shares of Silk Road at a price of $0.05 per share (See January 12, 2022 news release).

The Amikougami property is a gold exploration concession located 4000 metres from Agnico Eagle's Macassa Mine. The Amikougami claim block abuts the claims surrounding the Macassa Mine. Due to changes following the advent of new staking technology, some of these claims overlap Agnico Eagle's claims. The Otto property is located approximately nine kilometres to the southwest of the Macassa Mine.

The Amikougami and Otto gold properties consist of 16 patented mining claims including five mining licenses. The combined total for both properties is 192.56 hectares.

Geophysical surveying executed by the previous owner on the property identified several drill targets. According to anecdotal reports, grab samples taken from small pits on Amikougami contained significant gold grades. Similar results were reported from the Otto property as well.

Also, as reported in the February 8, 2022 news release, Silk Road has entered into the Disposition through the sale of its remaining oil and gas interests at Bashaw and Thornbury, Alberta, to Gold Note Resources Inc. ("Gold Note"). Gold Note acquired the assets for $10.00 and the assumption of associated liabilities in the amount of $120,618.71 . The Reactivation is also conditional on shareholder approval of the Disposition.

The Company will holding a special shareholder meeting on June 6, 2022, which will include the approval of the Acquisition and the Disposition.

The private placement announced by Silk Road remains open (see October 25, 2021 news release). The Unit Offering consists of one common share priced at $0.06 and a $0.12 warrant exercisable for twelve (12) months. The Company has been authorized the issuance of up to 11,666,666 common shares.

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.

Neither the TSX Venture Exchange, including the NEX Board, nor the Canadian Securities Exchange have approved nor disapproved the contents of this news release.

The Units and the securities comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in the Unites States, or any other jurisdiction, in which such offer, solicitation or sale would be unlawful.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

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