Black Gold Exploration Corp. entered into a purchase agreement to acquire oil and gas asset, El Carmen from International Iconic Gold Exploration Corporation for $2.1milion on January 31, 2023. The deemed transaction price of $1.00 per share for value of $0.1million and additional of $2million BGX Shares at a deemed price of $1.00 per share will be issued, (i) $1million BGX Shares will be released from escrow upon the Property entering
production of natural gas and (ii) $1million BGX Shares will be released from escrow upon the Property entering production of oil.

Black Gold Exploration Corp. completed the acquisition of oil and gas asset, El Carmen of International Iconic Gold Exploration Corporation from International Iconic Gold Exploration Corp. (TSXV:ICON) on July 10, 2023.