TORONTO, ONTARIO – May 03, 2022 – American Eagle Gold Corp. (“American Eagle Gold” or the “Company”) (TSX.V: AE) is pleased to announce that Joel Friedman has been appointed the Company’s Chief Financial Officer. Joel is a finance professional with over 13 years of experience working in the mining and cannabis industries. Most recently, Joel served as the CFO of Khiron Life Sciences Corp, prior to this, he was Vice President, Finance at CannTrust Inc., and Director of Finance at Primero Mining Corp.  and senior finance roles at Banro Corporation and Iamgold Corporation. Mr. Friedman began his career at Deloitte in the Real Estate and Resources group, where he worked with a variety of publicly listed clients throughout the mining lifecycle, from exploration to multi-asset operators. Mr. Friedman holds a CPA, CA and Honours Bachelor of Business Administration from the Schulich School of Business at York University, Canada.  

American Eagle Gold and the Ore Group would also like to announce the departure of Kevin Canario, the Company’s outgoing CFO. The entire Ore Group team thanks Mr. Canario for his dedication of service to the team and the Company’s shareholders and wishes him the best in his future endeavours.

About American Eagle Gold Corp.

American Eagle Gold is traded on the TSX Venture exchange under the symbol ‘AE’. The Company is focused on exploring its flagship property, Golden Gate. The property is strategically situated on the Cortez trend, which hosts 3 large Carlin-type gold deposits operated by Barrick and Newmont’s Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The property is located 10km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as at the two deposit areas.

Anthony Moreau

Chief Executive Officer

amoreau@americaneaglegold.ca

416-644-1567

www.americaneaglegold.ca

Neither 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.

Forward-looking statements

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company’s expectations regarding future operations and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the application of the proceeds of the Offering as anticipated by management and the inability to obtain the necessary TSX Venture Exchange approval to complete the Offering.  The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to close the Offering, that the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals, TSX Venture Exchange approval, for the Offering.

Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.  The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com