Antler Gold Closes Private Placement Financing of Units

Halifax, Nova Scotia--(Newsfile Corp. - September 9, 2021) - Antler Gold Inc. (TSXV: ANTL) ("Antler" or the "Company") is pleased to announce it has closed a non-brokered private placement financing (the "Financing") to raise gross proceeds of $500,000 from the sale of 5,000,000 units of the Company (the "Units") priced at $0.10 per Unit initially announced August 6, 2021.

Each Unit consists of one common share of Antler (a "Common Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable to purchase one Common Share at the price of $0.15 per share for a period of two years from the closing date of the Financing (the "Closing Date"). Insiders have subscribed for a total of 3,050,000 Units and officers and directors subscribed for 2,050,000 Units. All securities issued pursuant to the Financing will be subject to a four-month hold period commencing on the Closing Date.

Antler intends to use the proceeds of the Financing to advance exploration work on its Erongo Gold Project in Namibia and the Project in Zambia as well as for general working capital purposes. Completion of the Financing is subject to the approval of the TSX Venture Exchange.

About Antler Gold Inc.

Antler Gold Inc. (TSXV: ANTL) is a Canadian company, focused on the acquisition and exploration of gold projects in Namibia. Antler's Erongo Gold Project covers areas of the Navachab-Damara Belt, which is highly prospective for gold, and shares geologically similarities to the areas containing the known Namibian Gold mines (QKR's Navachab and B2 Golds' Otjikoto) as well as Osino's recent Twin Hills discovery. Namibia is recognized as one of Africa's most politically stable jurisdictions, with an extremely well-established national infrastructure.

The Company continues to assess new opportunities to expand its Namibian and Zambian portfolio.

Further details are available on the Company's website at www.antlergold.com.

Cautionary Statements

This press release may contain forward-looking information, such as statements regarding the completion of the work in Namibia by Antler and future plans and objectives of Antler, including the acquisition of a new project in Zambia. This information is based on current expectations and assumptions (including assumptions in connection with the continuance of the applicable company as a going concern and general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict, including risks relating to the ability to satisfy the conditions to completion of exploration programmes and work in Namibia and Zambia and risks related to the Company's ability to complete the Financing. Actual results may differ materially from results suggested in any forward-looking information. Antler assumes no obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in filings made by Antler with Canadian securities regulators, copies of which are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact Daniel Whittaker, President and CEO of Antler Gold Inc., at (902) 488-4700 or Chris Drysdale, VP at +264 81 220 2439.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95987