SPX.V · 2026-02-04

Stellar AfricaGold - District-Scale Soil Sampling Defines First Gold Exploration Target at Zuénoula, Cote D’Ivoire

Mine Development & Operations Exploration Programs Sampling & Geoscience Results

Vancouver, BC – February 4, 2026 Stellar AfricaGold Inc. (“Stellar” or the “Company”) provides the following update on the exploration progress at the Stellar-MetalsGrove Joint Venture Zuénoula Gold Project, Cote d’Ivoire.

Highlights

District-scale soil sampling (1km by 1km) defines first gold exploration target on Zuénoula.
13 km2 area to be infilled with higher density sampling (400m by 400m) to define the centre

of gold anomalism and trend of mineralisation.

Innovative PortablePPB field assay lab established in nearby town of Zuénoula to facilitate

rapid analysis of MGA samples

Field sampling commenced 10 January and 200 of the planned initial 320 (1km by 1km) soil

samples already collected

Gold anomalous cluster is located within an interpreted NE-trending belt of mafic volcanic

rocks on the NW-side of an interpreted small granite intrusion

Second SEMS Exploration sampling crew being mobilised to further increase sampling capacity

Stellar-MetalsGrove Joint Venture Zuénoula Gold Project, Cote d’Ivoire.

The Stellar-MetalsGrove Zuénoula Gold Project is a joint venture exploration project between Stellar’s Ivorian subsidiary Aucrest SARL (“Aucrest”) and MetalsGrove Mining Ltd. subsidiary, MetalsGrove CDI Pty Ltd (MetalsGrove) to advance Stellar’s 395.78 square kilometer early-stage exploration permit called the in Côte d’Ivoire. Pursuant to the joint venture agreement project operator MetalsGrove may earn up to a 50% interest in the Zuénoula Gold Project by incurring US$3,000,000 in exploration expenditures and up to an 80% interest in the Zuénoula Gold Project by incurring a total of US$6,000,000 in exploration expenditures. (For further details of the Stellar-MetalsGrove Joint Venture Agreement see Stellar news release December 9, 2025.)

Stellar Management Commentary

Stellar President and CEO J. François Lalonde commented:

“We are pleased with the rapid commencement of exploration by MetallsGrove at the Zuénoula Gold Project and with the early indications of anomalous gold in the soil sampling. I extend our thanks to the MetalsGrove team on the fast start to 2026 exploration.”

MetalsGrove Management Commentary

MetalsGrove Managing Director and CEO, Mr Lijun Yang, commented:

“These initial results are a great start to our 2026 field season and the application of the innovative PortablePPB assay technology eliminated the usual time delay between sample collection, receipt of assays, and the implementation of follow-up in-fill soil sampling. I am also pleased that SEMS has additional capacity to mobilise a second sampling crew to Zuénoula to further increase our rate of sampling.”

“The Zuénoula permit lies in an exploration corridor with favourable geological characteristics, including mixed volcanic and metasediment lithological sequences, complex structural features, and active artisanal workings, all of which are strong indicators of gold discovery potential.”

Zuénoula Soil Sampling Update

Stellar is pleased to announce that initial sampling on Stellar-MetalsGrove Zuénoula Gold Project has defined a significant cluster of three 1km by 1km spaced gold anomalous (15 to 33 dU) soil samples coincident with a NE-trending magnetic feature interpreted to reflect a mafic volcanic unit intruded by an elongated granite.

Field work at Zuénoula commenced four weeks after the Stellar-MetalsGrove JV agreement was signed, and of the initial 320 broadly-spaced (1km by 1km) soil samples planned, 200 have been collected and 124 assayed, with further assays to be received within the coming days. A further 90 infill samples over 13 km2 are to be collected on 400m by 400m centres to follow-up the initial gold anomalous cluster of three soil samples. Further infill will then be initiated to a point that will facilitate the effective sighting of drill holes.

Figure 1. Map illustrating progress of soil sampling on Zuénoula permit and the location of the recently defined gold anomalous soil cluster (soon to be infilled) on aeromagnetic (RTP) image Figure 2. Map illustrating progress of soil sampling on Zuénoula permit and the location of the recently defined gold anomalous soil cluster (soon to be infilled) on Google image

QA/QC

JORC Code, 2012 Edition – Table 1 Section 1- Sampling Techniques and Data (Criteria in this section apply to all succeeding sections)

Criteria	JORC Code Explanation	Commentary
Sampling	• Nature and quality of sampling (e.g. cut	No drilling has been undertaken. The current
Techniques	channels, random chips, or specific	ASX announcement presents initail results of a
	specialized industry standard	soil geochemical survey being undertaken on
	measurement tools appropriate to the	the Zuénoula project PR-750 in Cote d’Ivoire.
	minerals under investigation, such as
	down hole gamma sondes, or handheld	Soil Sampling (PortablePPB): Initail broad-
	XRF instruments, etc.) These examples	spaced (1km by 1km) soil sampling supported
	should not be taken as limitnig the broad	by rapid field analysis of samples using the
	meaning of sampling.	PortablePPB analytical technique is being
	• Include reference to measures taken to	undertaken so that gold anomalous trends can
	ensure sample representivity and the	be identified and infill sampling conducted to
	appropriate calibration of any	define drill targets before the field crew is
	measurement tools or systems used.	demobilized.
	• Aspects of the determination of	• The highly professional and experienced
		consulting group SEMS Exploration Services
	mineralisation that are Material to the
		has been contracted to conduct soil
	Public Report.
		sampling and assay the samples using their
		PortablePPB mobile laboratory
	In cases where ‘industry standard’ work has	• The MGA Exploration Manager was onsite at
	been done, this would be relatively	the start of the field program to instruct the

	simple (e.g. ‘reverse circulation drilling	sampling crew on the Standard Sampling
	was used to obtain 1 m samples from	Procedure required by MGA
		• MGA provided SEMS Exploration Services
	which 3 kg was pulverised to produce a
		with an Excel table listing the designated
	30 g charge for fire assay’). In other
		sample point locations using WGS-84 UTM
	cases, more explanation may be
		zone 29N coordinates
	required, such as where there is coarse
		• Each soil sample is collected from within 100
	gold that has inherent sampling	metres of the designated sample point, with
	problems. Unusual commoditeis or	the actual sample point then recorded
	mineralisation types (e.g. submarine	• At each sample point: 1) the organic rich soil
	nodules) may warrant disclosure of	is brushed away, 2) a 15cm deep hole is dug
		and the sample collected by taking a
	detailed information.
		channel-cut along the entire length of the
		hole, 3) 800g of the minus 2mm sieved
		fraction of each sample is collected from the
		sample point, 4) at the field lab in Zuénoula,
		a hand-held XRF (pXRF) is used to determine
		and record arsenic, copper, nickel, tungsten,
		iron and manganese concentrations 5) gold
		is determined using the PortablePPB
		technique and results are reported in dU, an
		partial extracted gold measurement units
		• Duplicate samples are collected every 20th
		sample and given the next sample number
		• No Standards other than instrument
		calibration standards are used to avoid low-
		level gold contamination. Gold anomalous
		samples sites (+15dU Au) are to be re-
		assayed using the fire assay technique at
		MSALabs in Yamoussoukro
		• Samples are processed and stored at the
		secure SEMS field laboratory and compound
		in Zuénoula.
		• Assay results are reported to MetalsGrove
		within 48 hours so that infill sampling can be
		planned and scheduled.
Drilling	• Drill type (e.g. core, reverse circulation,	• No drilling has been undertaken.
Techniques	open-hole hammer, rotary air blast,
	auger, Bangka, sonic, etc.) and details
	(e.g. core diameter, triple or standard
	tube, depth of diamond tails, face-sampling bit
	or other type, whether core is oriented and if so,
	by what method, etc).
Drill Sample	• Method of recording and assessing core	• No drilling has been undertaken.
Recovery	and chip sample recoveries and results
	assessed.
	• Measures taken to maximise sample
	recovery and ensure representative
	nature of the samples.
	• Whether a relationship exists between
	sample recovery and grade, and whether
	sample bias may have occurred due to
	preferential loss/gain of fine/coarse

	material.
Logging	• Whether core and chip samples have	• No drilling has been undertaken.
	been geologically and geotechnically	• Soil samples are comprehensively logged for
	logged to a level of detail to support	a range of parameters including color, soil
	appropriate Mineral Resource	horizon, sample weight, slope, dominant
	estimation, mining studies and	grain size (clay, silt, sand), general
	metallurgical studies.	topography, residual or transported,
	• Whether logging is qualitative or	proximity to artisanal workings, other
	quantitative in nature. Core (or	ground disturbances such as field plowing,
	costean, channel, etc.) photography.	and general land use (grassland, plantation,
	• The total length and percentage of the	crop, etc.).
	relevant intersections logged.
Sub-sampling	• If core, whether cut or sawn and	• No drilling has been undertaken.
Techniques and	whether quarter, half or all core taken.	• The 800g -2mm soil fraction collected in the
Sample	• If non-core, whether riffled, tube	field is riffle split at the field laboratory in
Preparation	sampled, rotary split, etc. and whether	Zuénoula into two 400g sub-samples, with
	sampled wet or dry.	one used for PortablePPB analysis and the
	• For all sample types, the nature,	other used for pXRF and fire assay analysis
	quality and appropriateness of the	when the PortablePPB determination
	sample preparation technique.	equals or exceeds 15dU
	• Quality control procedures adopted for	• The 400g subset of the initail 800g sample is
	all sub-sampling stages to maximise	obtained using a riffle splitetr to ensure
	representivity of samples.	adequate mixing of the sample.
	• Measures taken to ensure that the
	sampling is representative of the in-situ
	material collected, including, for
	instance, results for field
	duplicate/second-half sampling.
	• Whether sample sizes are appropriate
	to the grain size of the material being
	sampled.
Quality of Assay	• The nature, quality and	• Samples are analysed using the patented
Data and	appropriateness of the assaying and	detectORE™ process developed by Portable
Laboratory Tests	laboratory procedures used and	PPB Pty Ltd in Australia
	whether the technique is considered	• The process involves a partial extraction
	partial or total.	using the safe, non-dangerous GLIX-20®
	• For geophysical tools, spectrometers,	reagent that is akin to traditoi nal BLEG
	handheld XRF instruments, etc., the	(which uses a cyanide leach)
	parameters used in determining the	• The 400g samples are added to the reagent
	analysis, including instrument make	and tumbled for 12 hours, into which the

	and model, reading times, calibration	detectORE™ collector device had been
	factors applied, and	inserted
	their derivation, etc.	• Afetr the bottle roll process has completed,
	• Nature of quality control procedures	the collector device is removed, washed,
	adopted (e.g. standards, blanks,	and dried prior to reading on a Vanta M
	duplicates, external laboratory checks)	(VMR) pXRF loaded with Evident/Olympus’s
	and whether acceptable levels of	detectORE™ mode
	accuracy (i.e. lack of bias) and precision	• The entire process is managed using
	have been established.	Portable PPB’s Portable Lab Information
		Management System (pLIMSTM), which
		records all aspects of the sample
		throughput, including QAQC and control of
		the pXRF via the Application Programming
		Interface to Olympus/Evident’s co-
		developed detectORE™ mode.
		• Certified Collector Devices (CCDs) supplied
		by PortablePPB with known quantiteis of
		gold ranging from 0 -1000 ppb are used to
		check that the pXRF was functioning
		correctly and that the instrument settings
		were as intended. One CCD serves as a
		blank.
		• The pLIMS software confirmed the
		instrument settings are correct and the VMR
		is operating as expected, controlled by the
		pLIMS API and Evident’s detectORE™
		firmware.
Verification of	• The verification of significant	• The detectORE™ process is checked in
Sampling and	intersections by either independent or	accordance with PortablePPB’s
Assaying	alternative company personnel.	recommended processes and procedures.
	• The use of twinned holes.	These include the insertion of 400g
	• Documentation of primary data, data	reference materials (RMs).
	entry procedures, data verification,	• The RMs comprise mixtures of commercial
	data storage (physical and electronic)	Certified Reference Materials (CRMs) and
	protocols.	barren regolith material. The RMs are of
	• Discuss any adjustments to assay data.	known, but uncertified gold concentration
		and are used to check that the leach and
		collect process has worked as intended
		during the 12-hour bottle roll.
		• RMs were inserted at a rate of 1 every 44
		samples throughout the sample batches.
		The RMs were checked against Portable
		PPB’s cloud-based database and passed
		within the accepted tolerance ranges for
		the technique, currently 20% (3 sigma).
		• The pXRF instrument settings are checked
		using a range of Certified Collector Devices,
		which are used to confirm the pXRF is
		operating as expected. The pXRF spectral

		files are reviewed by Portable PPB’s cloud
		and SME procedures.
Location of	• Accuracy and quality of surveys used to	• A handheld GPS is used to locate the soil
Data Points	locate drillholes (collar and down-hole	data positoins, with a +/-5m vertical and
	surveys), trenches, mine workings and	horizontal accuracy
	other locations used in Mineral	• Sample locations (UTM WGS84 zone 29N)
	Resource estimation.	and sample descriptions are noted on a
	• Specification of the grid system used.	standard form in the field and entered into a
	• Quality and adequacy of topographic	computer of an evening
	control.	• GPS measurements of sample positoins are
		sufficiently accurate for first pass, board-
		spaced sample collection.
Data Spacing	• Data spacing for reporting Exploration	• The 1km by 1km ofsfet soil sample patetrn
and	Results.	over the permit area, excluding areas of
Distribution	• Whether the data spacing and	irrigated sugar cane, is considered an
	distribution is sufficient to establish the	efefctvie technique for identifying and
	degree of geological and grade	delimiting gold anomalous trends, which are
	continuity appropriate for the Mineral	then followed up with higher density
	Resource and Ore Reserve estimation	sampling, with 400m by 400m as the next
	procedure(s) and classifications applied.	phase and then further infill as required to
	• Whether sample compositing has been	define well constrained drill targets.
	applied.
Orientation	• Whether the orientation of sampling	• The sample location configuration has been
of data in	achieves unbiased sampling of possible	deliberately planned to avoid directoinal
relation to	structures and the extent to which this is	bias.
geological al	known, considering the deposit type.
structure	• If the relationship between the drilling
	orientation and the orientation of key
	mineralised structures is considered to
	have introduced a sampling bias, this
	should be assessed and reported if
	material.
Sample	• The measures taken to ensure sample	• 800g of the -2mm sieved fraction of soil
security	security.	samples are collected in plastic bags,
		assigned individual sample numbers and
		transported to the secure SEMS lab and
		compound in Zuénoula for gold
		determination by PortablePPB.

Audits or	• The results of any audits or reviews of	• The sampling and assay technique adopted
Reviews	sampling techniques and data.	by MetalsGrove has been efefctviely used in
		the Vavoua-Kounahiri district, and more
		widely in Cote d’Ivoire, to define drill targets
		and it is considered an efefctive initail
		approach for defining gold anomalous
		lithogeochemical trends.

Section 2 - Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code Explanation	Commentary
Mineral	• Type, reference name/number, location and	• Following the acquisition of the three
Tenement and	ownership, including agreements or	Gemica joint venture (JV) permits in Côte
Land Tenure	material issues with third parties such as	d’Ivoire, MetalsGrove entered into
Status	joint ventures, partnerships, overriding	another JV with TSX-V listing company
	royalties, native title interests, historical	Stellar AfricaGold Inc. (Stellar) for its PR-
	sites, wilderness or national park and	750 Zuénoula permit. PR-750 was granted
	environmental settings.	on 17 April 2024 for an initial four-year
	• The security of the tenure held at the time	period, renewable for two additional
	of reporting, along with any known	three-year periods.
	impediments to obtaining a licence to	• The Zuénoula permit is located between
	operate in the area.	existing MetalsGrove controlled Kounahiri
		West and Vavoua permits along the same
		Birimian greenstone belt. The two groups
		of joint venture permits (4) occupy a
		combined area of 1,315 km², strategically
		situated along the Abujar–Napie gold
		trend within the Oumé–Fetekro Birimian
		greenstone belt in central west of Côte
		d’Ivoire, approximately 100 km north of
		the Abujar gold mine and 160 km south of
		the Napie gold project.
Exploration	• Acknowledgement and appraisal of	• MetalsGrove is not aware of any previous
Done by Other	exploration by other parties.	systematic exploration for gold having
Parties.		been conducted with the Zuénoula permit
		PR-750.
Geology	• Deposit type, geological setting, and style of	• The Zuénoula permit (Stellar JV), together
	mineralisation.	with the Vavoua, Vavoua West, and
		Kounahiri West permits acquired through
		the Gemica JV, are in the central west of
		Côte d'Ivoire at the south edge of the
		West Africa craton. This region is the
		world’s largest Proterozoic gold-producing
		region, and Cote d’Ivoire contains 35% of
		the region’s Birimian Group rocks, which
		host multpile multi-million-ounce gold
		deposits.

		• The Gemica JV permits and Stellar JV
		permit, together cover a combined area of
		1,315 km², and are strategically situated
		along the Abujar–Napie gold trend within
		the Oumé–Fetekro Birimian greenstone
		belt, and are located approximately 100
		km north of the Abujar gold mine and 160
		km south of the Napie gold project.
Drillhole	• A summary of all information material to	• No drilling results are included in this
Information	the understanding of the exploration	release.
	results, including a tabulation of the
	following information for all Material drill
	holes:
	• easting and northing of the drillhole collar
	elevation or RL (Reduced Level – elevation
	above sea level in metres) of the drillhole
	collar dip and azimuth of the hole
	• down hole length and interception depth
	hole length.
Data Aggregation	• In reporting Exploration Results, weighting	• No data aggregation methods were
Methods	averaging techniques, maximum and/or	applied to the soil sampling data.
	minimum grade truncations (e.g., cutting of
	high grades) and cut-of fgrades are usually
	Material and should be stated.
	• Where aggregate intercepts incorporate
	short lengths of high-grade results and
	longer lengths of low-grade results, the
	procedure used for such aggregation should
	be stated, and some typical examples of
	such aggregations should be shown in
	detail.
	• The assumption used for any reporting of
	metal equivalent values should be clearly
	stated.
Relationship	• If the geometry of mineralisation with	• Not applicable.
Between	respect to the drillhole angle is known, its
Mineralisation	nature should be reported.
Widths and
Intercept Lengths

Diagrams	• Appropriate maps and sections (with scales)	• See maps in the body of the report.
	and tabulations of intercepts should be
	included for any significant discovery being
	reported. These should include, but not be
	limited to, a plan view of drillhole collar
	locations and appropriate sectional views.
Balanced	• Where comprehensive reporting of all	• The soil assay data has been interpreted
Reporting	Exploration Results is not practicable,	by the MGA Exploration Manager who has
	representative reporting of both low and	more than 40 years of gold exploration
	high grades and/or widths should be	experience. MGA assay results are also
	practiced, avoiding misleading reporting of	interpreted with reference to the surface
	Exploration Results.	geochemical expressions of more than 15
		of the major gold discoveries in Cote
		d’Ivoire.
Other Substantive	• Other exploration data, if meaningful and	• Any meaningful data and relevant
Exploration Data	material, should be reported, including (but	information have been included in the
	not limited to): geological observations;	body of this release.
	geophysical survey results; geochemical
	survey results; bulk samples – size and
	method of treatment; metallurgical test
	results; bulk density, groundwater,
	geotechnical and rock characteristics;
	potential deleterious or contaminating
	substances.
Further Work	• The nature and scale of planned further	• The soil sampling program commenced on
	work (e.g. tests for lateral extensions, or	10 January 2026 and at the 26 January
	depth extensions, or large-scale step-out	2026, 200 samples of the 320 planned
	drilling).	samples had been collected, with 124
	• Diagrams clearly highlighting the areas of	assayed for gold by PortablePPB.
	possible extensions, including the main	• Field programs will be sequentially
	geological interpretations and future	initaited on the adjoining Gemica JV
	drilling areas, provided this information is	permits, with PR454 Vavoua next, and the
	not commercially sensitvie.	others once tenure is granted by the
		Government of Cote d'Ivoire
		• The images included show the location of
		the soil sample sited (planned and
		sampled) for the current field program.

Qualified Person

The technical information contained in this release has been reviewed and approved by Mr Robert Perring, a current member of the Australian Institute of Geoscientists (MAIG) and Exploration Manager of MetalsGrove Mining Limited. Mr Perring is a Qualified Person under National Instrument 43-101.

About Stellar Africagold Inc.

Stellar AfricaGold Inc. is a Canadian precious metal exploration company focused on precious metals in North and West Africa, with active programs in Morocco and Côte d’Ivoire. Stellar’s principal exploration projects are its advancing gold discovery at the Tichka Est Gold Project in Morocco, and its early-stage exploration Zuénoula Gold Project in Côte d’Ivoire which is operated in Joint venture with MetalsGrove Mining Ltd subsidiary, MetalsGrove CDI Pty Ltd.

The Company is listed on the TSX Venture Exchange symbol TSX.V: SPX, the Tradegate Exchange TGAT: 6YP and the Frankfurt Stock Exchange FSX: 6YP.

The Company maintains its head office in Vancouver, BC and has a country office in Marrakech, Morocco.

Stellar’s President and CEO J. François Lalonde can be contacted at +1 514-9940654 or by email at [email protected]

Additional information is available on the Company’s website at www.stellarafricagold.com.

On Behalf of the Board

J. François Lalonde

President & CEO

This news release contains “forward-looking statements” within the meaning of applicable Canadian securities laws, including statements regarding the grant of PSUs, the potential vesting of such PSUs upon the achievement of future production milestones, the issuance of common shares of the Company upon settlement of vested PSUs, and the acceptance of the TSX Venture Exchange.

Forward-looking statements are based on expectations, estimates and projections as at the date of this news release and are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to, the Company not achieving the production milestones described herein, changes in business plans or commodity prices, failure to obtain regulatory approvals, and the risk factors described in the Company’s most recent Management’s Discussion and Analysis and Annual Information Form, which are available on SEDAR+ at www.sedarplus.ca.

Forward-looking statements are not guarantees of future performance and should not be unduly relied upon. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements contained herein.

Neither the 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.

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