MEGADO MINERALS LTD — AGM Information 2021

Apr 13, 2021

DATE OF ANNUAL GENERAL MEETING AND CLOSING DATE FOR DIRECTOR NOMINATIONS

In accordance with ASX Listing Rule 3.13.1, the Board of Megado Gold Limited (ASX:MEG) (Megado or the Company) advises that the Annual General Meeting of the Company will be held on Friday, 28 May 2021. A formal notice in respect of the Annual General Meeting is being prepared by the Company and will be announced to ASX and provided to Shareholders when published later this month.

An item of business at the Annual General Meeting will be the election of Directors. The closing date for the receipt of any nominations for the election of Directors is Friday, 16 April 2021 (the “Closing Date”). Accordingly, any nominations must be received no later than 5.00p.m. (AWST) on the Closing Date at the Company’s registered office.

The Company will follow any measures that may be set in place by the Australian and West Australian governments with regards to restrictions of gatherings and the implementation of social distancing requirements, at the time of the meeting.

-ENDS-

Authorised for release by: Aaron Bertolatti, Finance Director.

For further information on the Company and our projects, please visit: www.megadogold.com

Contact:

Michael Gumbley Mark Flynn Managing Director and CEO Investor Relations and Media +61 8 6141 3260 +61 416 068 733 mgumbley@megadogold.com mflynn@megadogold.com

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Megado Gold Ltd

Issued Capital

Australian Registered Address 12/197 St Georges Terrace PERTH WA 6000 Australia T +61 8 6141 3260 E info@megadogold.com W

Directors

About Megado Gold

Megado Gold Ltd is an ASX listed company with five high-quality gold exploration assets covering 511km[2] and one licence application covering 227km[2] in southern and western Ethiopia with the geological potential to host gold deposits of significant scale.

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Ethiopia contains a world-class greenstone geological terrane and hosts part of the prolific Arabian-Nubian Shield (ANS). The Megado Belt in southern Ethiopia is hosted within the broader Adola Belt, a granitegreenstone terrane that is part of the ANS, and is characterised by a dominant N-S trending suite of metamorphosed rocks hosting significant occurrences of gold mineralisation, including Ethiopia’s only modern gold mines, Lega Dembi and Sakaro (+3.0Moz Au).

Megado has premium land position immediately along strike to the north and south of the Lega Dembi and Sakaro deposits covering the same fertile greenstone host rocks and structural setting, in addition to an asset located proximal to Ethiopia’s next gold mine, the +1.5Moz Tulu Kapi deposit (AIM-listed KEFI Minerals).

Megado has assembled a strong technical team with specific Ethiopian and gold exploration experience, led

by Dr Chris Bowden, Executive Director, who has spent 5 years living in Ethiopia as General Manager for ASCOM Precious Metals Mining, where he was responsible for the discovery and subsequent drill out of the initial 1.5Moz Dish Mountain Gold deposit in western Ethiopia, a virgin greenfields discovery.

Minimal modern exploration has been conducted in Ethiopia, in comparison to similar greenstone belts in West Africa, Canada and Western Australia where modern techniques have successfully delineated numerous gold deposits.