Stellar Reports AGM Results

(TheNewswire)

Vancouver - TheNewswire - December 29, 2020 – John Cumming, President and Chief Executive Officer of Stellar AfricaGold Inc., (TSXV:SPX) ("Stellar" or the "Company") is pleased to report the results of the Company’s Annual General Meeting.

Results of Annual and Special General Meeting

The Annual and Special General Meeting of Shareholders (the "Meeting") of the Company was held on December 18, 2020 in Vancouver, BC. At the Meeting, shareholders approved all resolutions put before them by management including the election of the board of directors, the appointment of the auditor and the approval of the Company's incentive stock option plan.

Total Voting Shares

A total of 25,168,117 shares representing 37.41% of the issued capital were voted at the annual meeting. No shares or proxies were disqualified.

Election of the Board of Directors

The following directors were re-elected with the vote totals noted.

Appointment of Auditor

The shareholders also approved the appointment of Smythe LLP, Chartered Accountants, as the Company's auditor and authorized the directors to fix the auditors remuneration. Smythe LLP is a successor entity following the merger of the Company’s former auditor, Morgan LLP, with Smythe LLP.

Incentive Stock Option Plan

The shareholders also approved the Company's rolling incentive stock option plan.

ABOUT STELLAR AFRICAGOLD INC.

Stellar AfricaGold Inc. is a Canadian gold exploration company with offices in Vancouver, BC, Montreal, QC and Casablanca, Morocco.

The Company has recently completed the acquisition of 90% of the Tichka Est gold property in Morocco, and the the fully issued Priko gold permit and the pending Zenoula gold permit totaling approximately 770 km2 in Côte d’Ivoire.

For further information please contact:

John Cumming, President & CEO.,                  or         Maurice Giroux, VP Exploration, Stellar AfricaGold Inc.,

Email: [email protected]                Email: [email protected]

Additional information is available on the Company’s website at www.stellarafricagold.com.

On Behalf of the Board

John Cumming, LLM

President & CEO

This release contains certain "forward-looking information" under applicable Canadian securities laws. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Forward looking information contained in this news release includes, without limitation, statements relating to the completion of the Opawica Transaction and the exploration and development potential of the Balandougou II permit.  Forward looking information are based on assumptions made by the Company. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: the failure of Stellar to obtain TSX-V approval of the Opawica Transaction, the failure of Mosaic to complete the Mosaic Concurrent Financing, that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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