TORONTO, April 14, 2026 (GLOBE NEWSWIRE) -- O2Gold Inc. (NEX:OTGO.H) (“O2Gold” or the “Company”) announces today that it has elected to not extend the term of the share exchange agreement entered into with Quebec Aur Ltd. (“Quebec Aur”) and Quebec Aur’s shareholders dated effective April 15, 2024, as amended, (the “Agreement”) pursuant to which the Company anticipated acquiring a gold mining exploration property in Quebec (the “Acquisition”). As a result the Agreement has been terminated and the Acquisition will not be completed. The Company has also cancelled its previously announced non-brokered private placement financing of 18 million units and 16 million flow-through common shares (the “Offering”) and its previously announced shares for debt settlement agreement, pursuant to which the Company intended to issue 7,000,000 of its common shares to settle all amounts owing by the Quebec Aur to Q-Gold Resources Ltd (the “Settlement”).