Abzu Gold Ltd. announced that it has closed the strategic investment by Stonehouse Construction Pte Ltd. and four shareholders of Stonehouse of an aggregate of 22,727,273 units at a price of $0.11 per Unit for gross proceeds of $2,500,000. Accordingly, in connection with the Investment, the company has appointed Messrs. Eric Wardle and David Savage to the company's board of directors.

At the same time as Mr. Wardle's and Mr. Savage's appointments, the company received Dr. Paul Klipfel's resignation as a director of the company. Dr. Klipfel will continue to serve full-time as President of the company. David Savage has held senior executive roles in the construction industry in Australia, Asia and the Middle East for more than 25 years and holds a Bachelor of Civil Engineering from Deakin University in Victoria, Australia.

He is currently the Executive Chairman of Stonehouse and is also Chairman and President of KazaX Minerals Inc. Eric Wardle has worked in the construction industry for the last 28 years in the United Kingdom, Middle East, Africa and Asia. He has held senior executive roles for the last 13 years and is currently the Managing Director of Stonehouse. Mr. Wardle holds a B. Sc.

degree in Civil Engineering from the University of Salford, UK and in 1991 became a member of the Institution of Civil Engineers, UK.