Southern Empire Announces AGM Results - Seite 2

In the Cargo Muchacho mountains of Imperial County, California, Southern Empire owns 100 percent of the historical gold-producing American Girl patented claims and a 100 percent interest in the adjacent 2,160-hectare (5,338-acre) Oro Cruz Property located approximately 22.5 kilometres (14 miles) southeast of the operating Mesquite gold mine of Equinox Gold Corp.

At Oro Cruz, extensive historical drilling and large-scale open-pit and underground mining of the American Girl, Padre y Madre, Queen, and Cross oxide gold deposits by the American Girl Mining Joint Venture ("AGMJV") occurred between 1987 and 1996. During that time, gold was recovered by either heap leaching of lower-grade, or milling of higher-grade ores until AGMJV operations ceased in late 1996 because of declining gold prices leaving the Oro Cruz Property with many gold exploration targets in addition to a historical inferred mineral resource estimate, reported In 2011 by Lincoln Mining Corp., totaling 341,800 ounces gold based on 4,386,000 tonnes averaging 2.2 grams gold per tonne (g Au /t) at a cut-off grade of 0.68 g Au/t (4,835,000 tons at 0.07 ounce gold per ton; please refer to the Cautionary Notice Regarding the Oro Cruz Property Historical Resource Estimate below).

During 2021 and 2022, Southern Empire identified and obtained four projects in northern México that include a leachable copper prospect and three gold projects having bulk-tonnage potential. The gold projects are the:

• Centauro Gold Project, Escalón, Chihuahua State
• Pedro Gold Project, Mapimí, Durango State; and,
• La Loma Gold Project, Nazas, Durango.

These gold projects are located along what Southern Empire is now calling the Mapimí Gold Corridor, a 150-kilometre, southeast-trending Oligocene tectonostratigraphic belt, the regional geological setting of which, together with numerous, specific geological, mineralogical and geochemical characteristics observed at Centauro, Pedro and La Loma, strongly support the proposition that the Mapimí Gold Corridor has significant potential to host a bulk-mineable, Carlin-style gold deposits. Please see Southern Empire's news releases and March 29, 2023 Management Discussion and Analysis (MD&A) posted on SEDAR for further details.