Antler Gold Commences Gold Exploration Program at Ufipa Project in Zambia and Announces Its Participation in an Educational Initiative with the University of Zambia School of Mines and RES PRIME

Halifax, Nova Scotia--(Newsfile Corp. - October 3, 2023) - Antler Gold Inc. (TSXV: ANTL) ("Antler" or "Company") is pleased to announce the commencement of exploration work at the Ufipa Gold Project, an Antler Gold PG project (see press release dated March 24, 2022). The Company is also pleased to announce its participation in an initiative that will provide post-graduate students from the University of Zambia School of Mines the opportunity to gain on-the- ground mineral exploration experience on a real-world exploration project, in partnership with RES PRIME.

Highlights

• Ubendian Belt potential: Antler's Ufipa Gold Project, covering 473,627 hectares, offers significant exploration potential in the unexplored western extension of the Ubendian Belt, a region gaining prominence for hosting substantial economically viable gold deposits.
• Antler is exploring this extensive district-scale opportunity, making it an attractive prospect for major mining companies in this promising gold-rich region.
• Educational Initiative: The Company is collaborating with the University of Zambia School of Mines and RES PRIME to provide practical mineral exploration experience to post-graduate students from the university, enhancing their skills through on-the-ground involvement in real-world exploration projects.

Christopher Drysdale, CEO of Antler Gold Inc., commented: "As we embark on our first exploration program at the Ufipa Project in Zambia, we are committed to uncovering its potential while also making a positive impact in the region where we operate. Our approach is grounded in two fundamental principles of exploration targeting: firstly, the best chance of discovering world-class deposits lies in exploring areas with known world-class deposits; and secondly, the largest deposits are typically found in the early stages of exploration. These principles underpin our area-selection strategies: the 'Elephant Country' approach and the 'First Mover' strategy."

Exploration Program Summary: Targeting Orogenic Gold mineralisation

The 473,627 hectare Ufipa Gold Project is made up of three large exploration licenses which are located in the Northern and Eastern provinces of Zambia, approximately 800 km north east of the Zambian capital of Luska. The project area covers the extension of the highly fertile Ubendian belt into north-east Zambia and is known to hosts a variety of potential favorable host rock and structures considered to be favorable targets to explore for potentially economic orogenic Au deposits.

The first phase exploration work on the Ufipa Gold Project will consist of an orientation stream sediment sampling survey, prospecting and geological mapping to evaluate the gold targeting concept (Figure 1). A selection of suitable stream sediment sample positions have been selected which will focus on lower order streams with high erosive potential upstream. The sample sites are positioned upstream of confluences, and exploration will be conducted on 30862-HQ-LEL and 30846-HQ-LEL during the first phase of work.

This extension of the Ubendian Belt into Zambia has not been previously recognized and has the potential to emerge as a new gold district.

Figure 1.) Ufipa phase one stream sediment sampling locations

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Antler is excited to announce its participation in an innovative practical field course in collaboration with the University of Zambia School of Mines and RES PRIME.

An introduction to the project partners:

• The University of Zambia School of Mines is a leader in providing higher education in mines and mineral sciences in the region and beyond. It is celebrated for its comprehensive and rigorous teaching, learning, research, and scholarly programs, which are responsive to the needs of individuals, industry, and society.

• RES PRIME is a non-profit company, partnering with geoscience faculties at tertiary institutions in Southern Africa and assisting these faculties in developing greater practical knowledge and application of fieldwork skills among geoscience graduates.

This initiative underscores the Company's commitment to fostering collaboration and making a positive contribution to the industry and the communities in which we operate. The endeavor aligns with our mission to excel not only in the field of mineral exploration but also to do so responsibly and sustainably.

About Antler Gold Inc.

Antler Gold Inc. (TSXV: ANTL) is a Canadian listed mineral exploration company focused on project generation and organic royalty creation in Africa's Top-Ranked Jurisdictions. The Company continues to assess new regional opportunities with the aim of building a diversified business model that allows the Company to generate short and long-term revenue opportunities whilst providing stakeholders with exposure to multiple potential returns that are generated from the discovery process.

Qualified Person

The technical and scientific information in this presentation has been reviewed and approved by Oliver Tors: Pr.Sci.Nat., B. Sc (Hons)., Exploration Manager of the Company, who is registered Professional Natural Scientist (Pr.Sci.Nat. No. 120660) with the South African Council for Natural Scientific Professions (SACNASP) who is a Qualified Person as defined by NI 43-101. Mr. Tors is an employee of Antler Gold Inc. and is not independent of the Company under NI 43-101.

Cautionary Statements

This press release may contain forward-looking information, such as statements regarding the exploration properties and activities. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. Antler Gold does not assume any 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 securities laws applicable to Antler Gold. Additional information identifying risks and uncertainties is contained in the filings made by Antler Gold with Canadian securities regulators, which filings are available at www.sedarplus.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 Christopher Drysdale, CEO of Antler Gold Inc., at +264 81 220 2439.

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