Allied Gold Corporation (TSX: AAUC) (NYSE: AAUC) is pleased to announce that it has closed its previously announced overnight marketed public offering of common shares. Pursuant to the Offering, the Company issued 6,400,000 common shares in the capital of the Company at a price of C$27.35 per Share for aggregate gross proceeds of C$175,040,000. The Offering was completed through Stifel Nicolaus Canada Inc., Canaccord Genuity Corp. and National Bank Financial Inc., as joint bookrunners, together with a syndicate of underwriters made up of CIBC World Markets Inc. and Cormark Securities Inc.

The Company intends to use the net proceeds of the Offering to i) fund its optimization and growth initiatives particularly to accelerate development of infrastructure for the next phase of expansion at Sadiola which includes improvements in processing capacity and acceleration of the implementation of certain components of the recently announced energy program, ii) modify the plant under development at Kurmuk to increase average processing capacity for higher levels of production, iii) begin the transition to owner mining at one or more operations, and iv) general corporate purposes to take advantage of corporate and asset-based opportunities which may arise from time to time.

The Shares were offered in all provinces of Canada pursuant to a short form prospectus supplement dated October 20, 2025 pursuant to the Company’s base shelf prospectus dated October 1, 2024, and in the United States on a private placement basis by way of a confidential offering memorandum pursuant to certain exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and applicable state securities laws, and on a private placement basis in certain other jurisdictions outside of Canada and the United States pursuant to applicable prospectus exemptions. The Company has granted the Underwriters an over-allotment option exercisable, in whole or in part, at the sole discretion of the Underwriters, the details of which are set forth in the Prospectus Supplement, and any Shares issued on exercise of the Over-Allotment would be qualified by the Prospectus Supplement and form part of the Offering.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

The Shares issued pursuant to the Offering have been listed on each of the Toronto Stock Exchange and the New York Stock Exchange.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Shares in the United States. The Shares have not been and will not be registered under the U.S. Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act.

Copies of the Prospectus Supplement and the accompanying base shelf prospectus dated October 1, 2024 are available on SEDAR+ at www.sedarplus.ca. Alternatively, the Prospectus Supplement and the accompanying Base Shelf Prospectus may be obtained free of charge upon request by contacting the Chief Legal Officer and Corporate Secretary of Allied Gold Corporation at Royal Bank Plaza, North Tower, 200 Bay Street, Suite 2200, Toronto, Ontario M5J 2J3, telephone 416-363-4435, or by email at ir@alliedgold.com.

About Allied Gold Corporation

Allied is a Canadian-based gold producer with a significant growth profile and mineral endowment, operating a portfolio of three producing assets and development projects located in Côte d’Ivoire, Mali, and Ethiopia. Led by a team of mining executives with operational and development experience and a proven track record of creating value, Allied is progressing through exploration, construction, and operational enhancements to become a mid-tier, next-generation gold producer in Africa and ultimately a leading senior global gold producer.