O2Gold Inc. — Remuneration Information 2021

May 1, 2021

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O2Gold Announces Grant of Compensation Securities

TORONTO, April 30, 2021 (GLOBE NEWSWIRE) -- O2Gold Inc. (“ O2Gold ” or the “ Company ”) (TSXV: OTGO) today announces that, subject to regulatory approval, it has granted 3,775,000 restricted share units (the “ RSUs ”) to certain officers and consultants of the Company in accordance with the Company’s restricted share unit compensation plan and 1 million stock options to a consultant of the Company in accordance with the Company’s stock option plan. The RSUs and options vest immediately. The options may be exercised at a price of $0.33 per option for a period of five years from the date of grant. The common shares underlying the RSUs are subject to a four month hold period in accordance with the policies of the TSX Venture Exchange.

About O2Gold

O2Gold is a mineral exploration company with activities in Colombia.

For additional information, please contact:

Jaime Lalinde, President and CEO Phone: (57) 312 350 5864 Email: jlalinde@fmresources.ca

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.