An anonymous director reports

ALLIED GOLD ANNOUNCES CLOSING OF STRATEGIC INVESTMENT BY ZIJIN GOLD

Allied Gold Corp. has closed its previously announced strategic investment by Zijin Gold International Company Ltd. by way of a non-brokered private placement of 12.8 million common shares of the company at a price of $32.55 per share for aggregate gross proceeds of $416.64-million.

The net proceeds of the strategic investment are expected to be used by the company for the continued advancement of its growth initiatives, including operational optimizations, the completion and ramp-up of Kurmuk, the phased expansion of Sadiola, production increases at the CDI complex, and exploration efforts across the company's portfolio.

With the completion of the strategic investment, Zijin Gold holds approximately 9.2 per cent of the issued and outstanding common shares of the company, and is entitled to customary participation and top-up rights to maintain its pro rata equity ownership interest until such time as Zijin Gold's equity ownership interest in Allied falls below 5 per cent on a non-diluted basis.

The shares issued pursuant to the strategic investment are subject to a hold period of four months and one day ending Dec. 11, 2026, in accordance with applicable Canadian securities laws. Allied's chairman and chief executive officer, and the company's vice-chairman have voluntarily agreed to enter into lock-up agreements for the same period as Zijin Gold's statutory hold period in connection with the private placement.

About Allied Gold Corp.

Allied Gold is a Canadian-based gold producer with a significant growth profile and mineral endowment, operating a portfolio of three producing assets and development projects located in Ivory Coast, Mali and Ethiopia. Led by a team of mining executives with operational and development experience and proven success in creating value, Allied Gold is solidly on the path to becoming a mid-tier next-generation gold producer in Africa and ultimately a leading senior global gold producer.

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