Blue Gold Announces Appointment of Andrew Cavaghan as Chairman

NEW YORK, NY, July 28,2026 /PRNewswire/ — Blue Gold Limited (Nasdaq: BGL) (Nasdaq: BGLWW) (“BlueGold” or the “Company”), a gold mining company with the infrastructure todeliver gold from mine-to-wallet, today announced that Chief Executive OfficerAndrew Cavaghan has been appointed Chairman of the Board, succeeding DanOwiredu, who has retired from the Board following the Company's Annual GeneralMeeting held on July 24, 2026.

“On behalf of theBoard and the entire Blue Gold team, I would like to sincerely thank Dan forhis leadership, counsel and commitment throughout an important period in theCompany's development,” commented Andrew Cavaghan, Chairman and Chief Executive Officer.“His experience and guidance havehelped establish the foundation from which we are now executing the next phaseof our strategy, and we wish him every success in the future."

Owiredu has served as a director since the Company's formation and hasplayed an important role in guiding Blue Gold through its transition to aNasdaq-listed public company.

The Board believesthe leadership transition reflects the Company's evolution from establishingits public company platform to executing its long-term growth strategy centeredon disciplined acquisitions, operational excellence and capital allocation.

Cavaghan continued, "BlueGold is entering a pivotal new phase focused on execution. We are activelypursuing opportunities to build a diversified portfolio of producing miningassets capable of generating near-term cash flow while continuing to advanceour existing assets. Our objective is simple: execute our strategy withdiscipline, strengthen the business and create sustainable long-termshareholder value."

About Blue Gold Limited

Blue Gold Limited(Nasdaq: BGL) (Nasdaq: BGLWW) is gold mining company with theinfrastructure to deliver gold from mine-to-wallet. The Company’s mission is toexplore, develop and operate high quality mining projects while leveragingmodern technologies to sell the gold directly to end customers in tokenisedform. Blue Gold prioritizes growth, sustainable development, and transparencyin all its business practices. We believe that our commitment to responsiblemining will enable us to create value for our shareholders while minimizing ourenvironmental footprint.



Forward-Looking Statements

This press releaseincludes "forward-looking statements" within the meaning of the safeharbor for forward-looking statements provided by Section 21E of the SecuritiesExchange Act of 1934, as amended, and the Private Securities LitigationReform Act of 1995. You are cautioned not to place undue reliance on theseforward-looking statements, which are current only as of the date of this pressrelease. Each of these forward-looking statements involves risks anduncertainties. Important factors that could cause actual results to differmaterially from those discussed or implied in the forward-looking statementsinclude, but are not limited to: general economic or political conditions;negative economic conditions that could impact Blue Gold Limited and the goldindustry in general; reduction in demand for Blue Gold Limited's products;changes in the markets that Blue Gold Limited targets; and any change in lawsapplicable to Blue Gold Limited or any regulatory or judicial interpretation.  As a result, we cannot assure you that theforward-looking statements included in this press release will prove to beaccurate or correct. These and other important factors and risks are discussedin Blue Gold Limited’s annual report on Form 20-F, filed with the U.S.Securities and Exchange Commission (the “SEC”) on April 29, 2026, and otherfilings with the SEC.  In light of theserisks, uncertainties, and assumptions, the future performance or eventsdescribed in the forward-looking statements in this press release might not occur.Accordingly, you should not rely upon forward-looking statements as aprediction of actual results, and we do not assume any responsibility for theaccuracy or completeness of any of these forward-looking statements. Except asrequired by applicable law, we do not undertake any obligation to, and willnot, update any forward-looking statements, whether as a result of newinformation, future events, or otherwise. For more information regarding BlueGold Limited, please visit https://bluegoldltd.com.

No Offer or Solicitation

This press releaseshall not constitute a solicitation of a proxy, consent, or authorization withrespect to any securities. This press release shall also not constitute anoffer to sell or the solicitation of an offer to buy any securities.

For Further Information Contact:
Dave Gentry

RedChip Companies, Inc.

1-800-REDCHIP (733-2447)

1-407-644-4256

BGL@redchip.com