Angel Gold Announces Proposed Name Change to Eon Lithium Corp., Board of Directors and Management Changes & Change of Auditor

VANCOUVER, BC, Dec. 8, 2022 /PRNewswire/ -- Angel Gold Corp. (TSX.V: ANG) ("Angel Gold" or the "Company") announces that, subject to the approval of the TSX Venture Exchange, it intends to change its name to "Eon Lithium Corp." to better reflect the direction of the Company's business. A new CUSIP and ISIN will be obtained. Additional details on the effective date of the name change will be provided in due course.

Additionally, Angel Gold is pleased to announce the appointment of Fernando Erik Villarroel Alcocer as President, Interim CEO and a director, effective November 30, 2022.

Mr. Villarroel has 12 years of experience in the mining industry in Argentina with a focus on Lithium process development. From 2009 to 2013 he worked with Lithium Americas Corp. (Minera Exar S.A.) as Project Manager which included construction management and commissioning of the initial pilot evaporation facilities and laboratory at the Cauchari Olaroz Lithium Project. He has also acted as a consultant to Neo Lithium and International Lithium Inc. Currently, he serves as Chief Operating Officer and Director for Lithium South Development Corporation, managing the exploration and development of the Hombre Muerto North Lithium Project, located in Salta, Argentina. Mr. Villarroel is the founder of Eon Minerals Inc., a technical laboratory located in Salta, Argentina. Eon Minerals Inc. is developing a patent pending absorbent and process for the extraction of lithium from brines. He holds a degree in Industrial Engineering and has specialized training in Data Modeling & Analysis for Business and Engineering from M.I.T.

The Company also announces that Christopher P. Cherry has stepped down as the Interim CEO of the Company, effective November 30, 2022.  Mr. Cherry will remain as Interim CFO and a director of the Company. The board of directors of the Company thanks Mr. Cherry for his managing of the recent acquisition of the Amanecer Lithium Project, located in Argentina.

The Company also announces that Smythe LLP, Chartered Professional Accountant (the "Former Auditor") has resigned as auditor of the Company, and SHIM & Associates LLP (the "Successor Auditor") of Vancouver, BC, Canada, has been appointed as the Company's Successor Auditor.

There were no reservations in the Former auditor's audit reports for any financial period during which the Former Auditor was the Company's auditor.

About Angel Gold Corp.

Angel Gold Corp. (name change to Eon Lithium Corp. pending) is a lithium brine project and lithium extraction technology developer located in Salta, Argentina. The Company is evaluating the 2,500-hectare Amanecer Lithium Project located in Salta Province, Argentina. Through a development agreement with Eon Minerals Inc. (a private Delaware corporation), the Company will be testing a patent pending aluminum-based absorbent on brine from the Amanecer Lithium Project. This new extraction technology may provide higher recovery rates than conventional evaporation technology currently employed on lithium operations in Argentina.  

Neither 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.

This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this news release is subject to a variety of conditions and risks which include but are not limited to regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this news release. We seek safe harbor.

ON BEHALF OF THE BOARD OF DIRECTORS

Christopher P. Cherry
Interim CFO
[email protected]
350-594-2157

SOURCE Angel Gold Corp.