Annual General and Special Meeting ('AGM') Results and appointment of Panmure Gordon (UK) Limited as Joint Corporate Broker

TORONTO, ON / ACCESSWIIRE / June 17, 2022 / AEX Gold Inc. (AIM:AEXG)(TSXV:AEX), an independent mining company with an unrivalled land package of gold and strategic mineral assets covering an area of 7,615.85 km2 in Southern Greenland, announces the results of voting at its AGM held on June 16, 2022.

Shareholders voted in favour of all items put forward at the AGM.

AGM Results

The following proxy votes for the AGM were received from shareholders:

Additionally, further to the announcement on appointment of Panmure Gordon (UK) Limited as joint corporate broker disseminated on August 05, 2021, AEX hereby provides the following information regarding the service provider:

The appointment was made pursuant to an agreement entered into between AEX and Panmure Gordon dated August 4, 2021. Panmure Gordon is a UK based corporate and institutional investment bank that provides investor relations and market-making activities with a focus on growth and mid-cap companies where trading and research coverage is relatively underserved. Panmure Gordon receives an annual retainer fee of approximately C$85,800 payable quarterly in advance. The engagement renews annually unless either Panmure Gordon or AEX gives 3 months' notice to terminate. Panmure Gordon holds no direct or indirect interest in AEX or its securities. Panmure Gordon may act as a market maker in AEX's common shares in the UK only. Any market-making activity in Canada will be conducted using a registered broker in compliance with Policy 3.4 of the TSX Venture Exchange Corporate Finance Manual, IIROC's Universal Market Integrity Rules & Policies and other relevant policies, so that trading orders in AEX's shares are made to manage share price volatility and imbalances of orders in order to improve trading liquidity on the exchange. In accordance with Policy 3.4, AEX and Panmure Gordon confirm that capital for the purposes of market-making has not and will not be provided from AEX's treasury.

Enquiries:

AEX Gold Inc.

Eldur Olafsson, Executive Director and CEO
+354 665 2003
eo@aexgold.com

Eddie Wyvill, Investor Relations
+44 (0)7713 126727
ew@aexgold.com

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

Callum Stewart
Simon Mensley
Ashton Clanfield
+44 (0) 20 7710 7600

Panmure Gordon (UK) Limited (Joint Broker)

John Prior
Hugh Rich
Dougie Mcleod
+44 (0) 20 7886 2500

SI Capital Limited (Joint Broker)

Nick Emerson
Charlie Stephenson
+44 (0) 1483 413500

Camarco (Financial PR)

Billy Clegg
Emily Hall
Charlie Dingwall
+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 and strategic metal 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 and strategic metal assets covering 7,615.85km2, the largest mineral portfolio 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.