Vancouver, British Columbia--(Newsfile Corp. - October 26, 2023) - Batero Gold Corp. (TSXV: BAT) (FSE: 68B) (OTC Pink: BELDF) ("Batero" or the "Company") announces that it has filed an amended and restated technical report with an effective date of September 15, 2022 and an amended and restated date of September 25, 2023, titled "Technical Report for an Updated Mineral Resource Estimate and Preliminary Economic Assessment on the La Cumbre Gold Project, Department of Risaralda, Columbia" (the "Amended Technical Report") following a disclosure review completed by the British Columbia Securities Commission (the "BCSC").

The Amended Technical Report addresses comments received by the BCSC with respect to compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and Form 43-101F1, and supersedes the previously filed report in its entirety. In particular, qualifications of the Qualified Persons responsible for authoring the report have been addressed, and certain additions and clarifications have been made to Section 3 (Reliance on Experts), Section 5 (Accessibility, Climate, Local Resources, Infrastructure and Physiography), Section 14 (Mineral Resource Estimates), Section 17 (Recovery Methods), Section 22 (Economic Analysis), Section 23 (Adjacent Properties), Section 25 (Interpretations and Conclusions) and Section 26 (Recommendations). No material changes were made to the resource estimates or economic analysis of the La Cumbre Gold Project in the Amended Technical Report.

The Amended Technical Report was prepared by Linares Americas Consulting SAC in accordance with NI 43-101 and can be found on the Company's website at or under the Company's issuer profile at .

ON BEHALF OF BATERO GOLD CORP.

Gonzalo de Losada
President and Chief Executive Officer

Qualified Person

Mr. Fernando Linares, Eng. Geo. is the Qualified Person for all scientific and technical information herein and has reviewed and approved such information in this release.

About Batero Gold Corp.

Batero is a precious and base metals advanced exploration company. The Company's objective is to develop the La Cumbre Gold Project in Risaralda, Colombia. La Cumbre is located within the Company's 100% owned Batero-Quinchia Gold Project, which sits within Colombia's emerging and prolific Mid Cauca gold and copper belt.

For further information please contact:
Batero Gold Corp.
Email: info@mquinchia.com
Tel: + 57 6046041948

Neither the 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 press release.

Forward-Looking Statements

This news release may contain certain "forward-looking statements" within the meaning of applicable Canadian securities laws, including with respect to the development plans of the Company. Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the Company's actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Any forward-looking statements speak only as of the date of this news release. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether because of new information or future events, or results or otherwise.

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