Alma Gold Provides Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - December 18, 2023) - Alma Gold Inc. (CSE: ALMA) ("Alma Gold" or the "Company") is pleased to provide a corporate update, and an update on its exploration permits and plans in Guinea.

Alma Gold's exploration permits at its Karita West Project remain in good standing and the Company continues to monitor exploration activities surrounding its permits as part of its long-term strategy to acquire additional permits in the area.

The Company's four properties comprising its Dialakoro Project are presently covered by an application for a "Permis de Recherches" from the Guinean government. The process of granting the exploration permits has taken longer than originally anticipated. However, the Company's representatives in Guinea are in constant communication with Guinean government officials and the Company anticipates it will be granted all four exploration permits at Dialakoro in short order.

Despite the ongoing delays in the granting of permits, Alma Gold sees great potential in Guinea with significant exploration potential in the Dialakoro area on strike from identified gold deposits along the Niaoulini – Kobada – Sanankoro structural corridor at the border between southern Mali and northern Guinea.

The Company is also in the process of converting its current debt to common shares. This debt includes outstanding fees owed to management, staff, consultants, and contractors working for Alma Gold. This initiative will leave Alma Gold virtually debt free and with a very tight share structure going into the next exploration season in Guinea.

The Company also plans to complete a financing to support its upcoming exploration programs in Guinea once market conditions improve in early 2024. The Company will continue to provide updates as certain objectives are met and expects to provide a more detailed update in the New Year.

The Company also reports that Eugene Hodgson has resigned from the Company's board of directors. The Company wishes to thank Mr. Hodgson for his contributions to the Company and wishes him well with his future endeavours.

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 northern Guinea and owns the Clarence Stream North Gold Project in southwest New Brunswick, Canada.

For more information on Alma Gold Inc., please visit our website at: https://almagoldinc.com.

On Behalf of the Board of Directors

"Gregory Isenor"

Gregory Isenor
President & Chief Executive Officer
Alma Gold Inc.
Email: gpisenor@karitagold.com

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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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