Toronto, Ontario--(Newsfile Corp. - October 1, 2024) - Jubilee Gold Exploration Ltd. (TSXV: JUB.H) (the "Company") announces that further to the press release dated September 25, 2024, upon the transfer of its listing to NEX Board ("NEX") of the TSX Venture Exchange ("Exchange"), the trading in the shares of the Company will be suspended until the Company comes back into compliance with NEX requirements relating to minimum share distribution. Reinstatement to trading can occur only when the Exchange has concluded its reinstatement review to ensure the Company has satisfactorily complied with Exchange requirements. The Company also confirms, as of the date of this news release, that there is no other material information concerning the affairs of the Company that has not yet been generally disclosed.

Appointment of Sonia Agustina as Chief Financial Officer

The Company is pleased to announce the appointment of Sonia Agustina, as its Chief Financial Officer ("CFO"), effective October 1, 2024.

Ms. Agustina brings more than 20 years of extensive experience in finance, regulatory requirements, equity markets and public company administration of publicly traded companies. Ms. Agustina has served as VP and CFO for a number of TSX Venture Exchange and Canadian Securities Exchange (CSE) listed and non-listed companies over the past several years. Ms. Agustina is a Chartered Professional Accountant (CPA, CA) and holds a Bachelor of Administrative Studies (Honours) from York University.

Ms. Agustina will succeed Mr. Joshua Aina, who has served as the Company's CFO since January 2024.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws, which reflect the current expectations of management of the Company's future growth, results of operations, performance and business prospects and opportunities. Forward-looking statements are frequently, but not always, identified by words such as "may", "would", "could", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions, although these words may not be present in all forward-looking statements. Forward-looking statements in this press release include reference to reinstatement review, compliance with Exchange requirements and reinstatement of trading.

Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions and the Company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking statements, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. Except as required by law, the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, investors should not place undue reliance on forward-looking statements. All the forward-looking statements are expressly qualified by the foregoing cautionary statements.

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