Appointment of SI Capital Limited as Joint Corporate Broker

TORONTO, ON / ACCESSWIRE / February 21, 2022 / AEX Gold Inc. ("AEX" or the "Corporation") (AIM:AEXG) (TSXV:AEX), an independent gold company with a portfolio of exploration licences in Greenland, is pleased to announce that it has appointed London based SI Capital Limited ("SI Capital"), as joint corporate broker, pursuant to an agreement entered into between AEX and SI Capital (the "Agreement").

Pursuant to the Agreement, SI Capital will provide investor relations services in compliance with the policies and guidelines of the London Stock Exchange, the TSX Venture Exchange (the "Exchange") and other applicable legislation. SI Capital will trade the Ordinary Shares on the AIM with the objective of maintaining a reasonable market and improving the liquidity and stability of the Ordinary Shares. The engagement is effective February 19, 2022 and shall continue until terminated by either party upon 30 business days prior written notice. Under the terms of the Agreement, SI Capital will receive an annual retainer fee of £35,000 (plus applicable taxes), payable quarterly in advance. SI Capital will be entitled to the first quarterly payment only if it completes a successful equity capital raise for AEX. SI Capital will not receive Ordinary Shares or options as compensation under the Agreement. SI Capital has advised AEX that it currently controls or directs 100,238 common shares of AEX.

SI Capital is a specialist, full-service stockbroker and member of the London Stock Exchange based in Surrey and Mayfair founded around 20 years ago offering fully integrated Corporate Broking, Research/Analysis and Investor Advisor capabilities, sourcing best of class opportunities for investors across the investment universe.

Renato Rufus, CEO, SI Capital commented:

"We are delighted to be appointed as joint broker to AEX Gold Inc., complementing our portfolio of frontier explorers and exposing our investors to the opportunity of the next globally significant resource discovery."

About AEX

AEX's principal business objectives are the identification, acquisition, exploration, and development of gold properties in Greenland. The Corporation's principal asset is a 100% interest in the Nalunaq Project, an advanced exploration stage property with an exploitation license including the previously operating Nalunaq gold mine. In addition, the Corporation has a portfolio of gold, base and battery transition metals assets covering 4090km², the largest portfolio of gold assets in Southern Greenland covering the two known gold belts in the region. AEX is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.

About SI Capital

SI Capital corporate broking and sales provide suitable corporate clients with Equity and Debt Capital Markets services alongside Research and Marketing to complement their strategic goals and financial requirements. SI Capital believes in a goal of aligning itself with client and customers together assisting with the challenges in delivering a definitive value uplift point or exits for dedicated and credible entrepreneurs, executives, and stakeholders of listed companies alike. SI Capital have a strong recent history of successfully partnering and assisting such companies.

SI Capital specialises in value opportunities throughout the development lifecycle for its advisory investing clients in Small to Mid-capitalised companies on a value investing thematic. Their clients are predominantly for HNW, UNHW, Family Offices clients who invest across the LSE, ASX, NYSE and TSX. SI Capital operates a core strategy largely around the natural resources and technology space to support its corporate broking strategy and ESG goals, but also provides a best of breed generalist stock picking advice service for Main Market, AIM and Pension portfolios.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events and the future growth of the Corporation's business. In this press release there is forward-looking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed under "Risk Factors" in the Corporation's annual information form dated December 8, 2020 available under the Corporation's profile on SEDAR at www.sedar.com. Any forward-looking information included in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Corporation assumes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has either approved or disapproved of the contents of this press release.

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

Enquiries:

AEX Gold Inc.

Eldur Olafsson, Director and CEO+354 665 2003[email protected]

Eddie Wyvill, Investor Relations+44 (0) 7713 126727[email protected]

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

Callum StewartSimon MensleyAshton Clanfield

+44 (0) 20 7710 7600

Panmure Gordon (UK) Limited (Joint Broker)

John PriorHugh RichDougie Mcleod

+44 (0) 20 7886 2500

SI Capital Limited (Joint Broker)

Nick EmersonCharlie Stephenson

+44 (0) 1483 413500

Camarco (Financial PR)

Billy CleggEmily Hall

+44 (0) 20 3757 4980

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Further Information:

About AEX

AEX's principal business objectives are the identification, acquisition, exploration and development of gold properties in Greenland. The Corporation's principal asset is a 100% interest in the Nalunaq Project, an advanced exploration stage property with an exploitation license including the previously operating Nalunaq gold mine. The Corporation has a portfolio of gold assets covering 4,090km², the largest portfolio of gold assets in Southern Greenland covering the two known gold belts in the region. AEX is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events and the future growth of the Corporation's business. In this press release there is forward-looking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed under "Risk Factors" in the Final Prospectus available under the Corporation's profile on SEDAR at www.sedar.com. Any forward-looking information included in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Corporation assumes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has either approved or disapproved of the contents of this press release. 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.

Inside Information

This announcement does not contain inside information.

SOURCE: AEX Gold Inc.