Great Eagle Gold Corp. announced its entry into a Joint Venture Letter of Intent ("LOI") with Hacienda Rio Rayo to explore and potentially develop a 1,947-hectare property nestled in the dynamic municipality of Taraza, located in the Bajo Cauca region of Antioquia, Colombia (the "Property"). The Bajo Cauca region stands as the cornerstone of Colombia's gold production, having contributed to a lion's share of over 70% of the national output.

This golden legacy has its roots in the 16th century when Spanish settlers, lured by the glint of gold and silver, established Caceres and Zaragoza. Today's scenario attests to this legacy's resilience, with the Colombian government tallying more than 1,100 active gold mining operations. A testament to the region's enduring magnetism are the numerous endeavors on adjacent properties, including formidable projects led by industry titans such as AngloGold Ashanti, B2Gold, and Mineros S.A. While gold is an undeniable hallmark of Bajo Cauca, its historical significance isn't solely mineralogical.

The region's tumultuous past, marked by social conflicts, once rendered it inaccessible. However, recent strides in security have radically transformed the narrative. Now, in close proximity to project site stands a regional military base, epitomizing the resurgence of safety and continued strides towards stability.

This renewed sense of security unlocks an unprecedented opportunity for companies like Great Eagle to delve into the region's untapped riches, especially when considering its pristine, unexplored status in an industry often revisiting exhausted ventures. "Our engagement goes beyond merely exploring a new territory. We're venturing into a region imbued with a gold-rich history that spans centuries.

This collaboration with Hacienda RioRayo in this historic domain opens the doors to unparalleled prospects. It's noteworthy that only a fraction of the Property has been tapped for gold production, yet it has consistently showcased its potential over six years, boasting an impressive average monthly gold yield of 22 kilograms." He further elaborated, "What truly distinguishes Hacienda Rio Rayo is its unwavering dedication to both environmental and social sustainability. Their recognition on October 28, 2022, as a 'Certified Responsible Gold Producer' by the Swiss Responsible Gold Initiative (Swiss Better Gold) speaks volumes.

It not only accentuates their global credibility but also serves as a beacon for eco-conscious and socially responsible gold consumers." " Their transformative impact resonates deeply, not just within Bajo Cauca but across the vast expanse of Colombia. Applauded by the Governor of Antioquia and myriad others, Hacienda Rio Rayo exemplifies how gold production can harmoniously merge with nature. Their conscious decision to shun environmentally damaging methods and their extensive reforestation drives only magnify their commitment." " However, Hacienda Rio RayO's vision transcends traditional mining.

With ventures like large-scale honey production and innovative sawmills producing diverse wooden products, from window frames to pre-fabricated homes for the marginalized, they're redefining the gold mining sector's horizons. Their efforts contribute significantly to both environmental conservation and job creation for locals. Joining forces with such an innovative partner cements Great Eagle Gold's conviction: Mining and sustainable growth can thrive in synergy.

Together, we're paving a path where wealth harmoniously coexists with responsible stewardship." The terms of the LOI include: 1.) Ownership: Upon the execution of the Definitive Agreement, Great Eagle will have acquired a direct beneficial interest of 70% in the Property's mineral rights ("JV Interest"). 2.) Consideration Payments: In order to maintain its JV Interest, Great Eagle pledges payments amounting to USD 750,000 to Hacienda, segmented as follows: USD 250,000 following any required CSE approval and post the submission of a geological report on the Property, compliant with the National Instrument 43-101 Standards of Disclosure for Mineral Projects. $500,000 contingent upon the receipt of the 43-101 report that demonstrates a minimum of the 43-101 report That demonstrates a minimum of 1,000,000,000 inferred ounces of gold on the Property.3.) Share Warrants Issuance: Great Eagle will disburse 2,500,000 inferred ounces of gold On the Property.