NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

TORONTO, April 14, 2023 (GLOBE NEWSWIRE) — Golden Tag Resources Ltd. (“Golden label” or the “Pursue“) (TSX.V: GOG) is pleased to provide the following update regarding its proposed acquisition of the La Parrilla Silver Mine Complex (“La Parilla“) in Durango, Mexico (the “transaction“) by First Majestic Silver Corp (“First Majesty“) pursuant to a purchase agreement between First Majestic, First Majestic Plata, SA DE CV and Golden Tag dated December 7, 2022 (the “Asset Purchase Agreement“) and as previously announced in the Company’s press release dated December 7, 2022. As of the date of this press release, the Company expects trading in the Golden Tag Shares (as defined herein) to commence on or about April 19, 2023 is resumed.

According to Policy 5.3 – Acquisition and sale of tangible assets the TSX Venture Exchange (“TSXV“) Corporate Finance Handbook (“Policy 5.3“), the Transaction will be classified as a Verifiable Transaction (as such terms are defined in Policy 5.3); in connection with classification as a Verifiable Transaction, the Company will:

1. If no more than 45,068,581 common shares in the capital of Golden Tag (the “Golden Tag Stocks“) to fulfill the first deferred payment (as such terms are defined in the contract of sale); and
2. Will make an application under Policy 4.3 – stocks for debt of the Corporate Finance Manual of the TSXV, prior to the issuance of Golden Tag Shares in satisfaction of the Second Deferred Payment (as such terms are defined in the Asset Purchase Agreement) (the “Shares for debt application“).

   Approval by the TSXV of the issuance of the Golden Tag Shares to satisfy the Second Deferred Payment Shares is subject to: (i) approval by the TSXV of the Shares for the Debt Proposal; and (ii) First Majestic making a stock distribution on A Professional…