Antioquia Gold Inc. Announces Change of Auditor

Antioquia Gold Inc. ("Antioquia Gold" or the "Company") announces that the Company's auditors, BDO Canada LLP ("BDO Canada"), have resigned as auditor of the Company, effective April 9, 2026 and will not complete the audit or issue an auditor's report on the Company's financial statements for the years ended December 31, 2024 and December 31, 2025.

The Company has not yet appointed a successor auditor. The Company's Audit Committee and Board of Directors have initiated a process to identify and appoint a successor auditor for the 2024 and 2025 fiscal years and will provide an update in due course.

During the course of BDO Canada's audit of the Company's financial statements for the year ended December 31, 2024, "reportable events" occurred within the meaning of National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102") as "unresolved issues" (as defined under Section 4.11(1) of NI 51-102). BDO Canada raised certain concerns relating to (i) accounting recognition of revenue for gold concentrate in an amount that exceeds the physical volume of gold within the gold concentrate; (ii) lack of a demonstrated business rationale for certain transactions; and (iii) the availability of complete documentation, accuracy of information provided by management, and cooperation from the Company's financial reporting personnel necessary to complete audit procedures. BDO Canada stated that these concerns were not resolved after various discussions with the Company and resigned as a result of a stated loss of confidence in the Company's management.

The Company has filed the required change of auditor reporting package with the applicable securities regulatory authorities. These documents are available on the Company's SEDAR+ profile.

The Company will (under the oversight of its Audit Committee) engage an independent expert to conduct a review and assessment of the facts and circumstances around these matters. The Company will also undertake a review of its internal controls over financial reporting and its governance framework to ensure they meet applicable standards and reflect best practices.

The Company will provide further updates regarding the aforesaid review and assessment and the appointment of a successor auditor as and when material developments occur, in accordance with applicable securities legislation. The Board of Directors reaffirms its commitment to acting in the best interests of the Company and its shareholders.

ON BEHALF OF THE BOARD OF Antioquia Gold Inc.

Gustavo Noriega Bentin, Chief Financial Officer of Antioquia Gold Inc.

This news release includes certain "forward-looking information" as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the results of the review; and the Company's continued pursuit for a successor auditor. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Specific risks and uncertainties that could cause actual results to differ materially from those anticipated include, without limitation: (i) the risk that the Company may be unable to appoint a successor auditor in a timely manner; and (ii) the possibility that the Company may become subject to regulatory investigations, or enforcement proceedings. Although the Company believes that the expectations and assumptions on which such information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this news release, and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293892