Montage Gold expects further resource growth at its Koné mine where the plant is already operating above nameplate

(TSX:MAU, OTCQX:MAUTF) Montage Gold Corp. announced drill results from its 2026 exploration program at the Koné mine, Côte d’Ivoire, indicating increased confidence in expanding resources at higher-grade satellite deposits and discovering new deposits. The first gold pour at the Koné mine was achieved on September 26, 2026, and ramp-up activities have led to processing approximately 880,000 tonnes from the oxide circuit in October, with the plant operating at over 90% of its 11Mtpa nameplate capacity and reaching 104% during the last week of October. The average processed head grade for October was 0.82 g/t Au, with an average gold recovery of approximately 95%, resulting in about 23,460 ounces of gold produced in the month. Mining is currently focused on the Koné deposit, with mining at the higher-grade Gbongogo Main deposit expected to ramp up in late Q4-2026. Since the 2024 Feasibility Study, over 375,000 meters have been drilled at the Koné mine, identifying 10 new higher-grade satellite deposits, now totaling 12 deposits compared to 2 in the Feasibility Study, and intersecting mineralization at over 50 targets across 7 mineralized trends. The 2026 exploration program includes a 130,000-meter drilling campaign with a budget of $18.0 million, focusing on in-fill and extension drilling at Koné and Gbongogo Main, advancing pre-resource targets such as ANV North and ANIII, and testing new targets across the mine’s land package. In the first nine months of 2026, 4,245 holes were drilled at Koné, totaling 122,651 meters, including 747 RC holes (86,076 meters), 64 DD holes (11,064 meters), and 3,434 auger holes (25,511 meters). Drilling was distributed across trends: Koné (32%, 39,856 meters), Gbongogo-Koroutou (43%, 52,569 meters), Bafretou-Niondjé (4%, 5,296 meters), Sissédougou (11%, 13,987 meters), Yeré (6%, 6,963 meters), and TZ (3%, 3,979 meters). Positive mineralization was confirmed at all 25 exploration targets drilled in 2026. The Gbongogo-Koroutou trend remains a key focus, with more than 20 targets identified and 6 deposits delineated, supported by existing infrastructure. At Petit Yao, exploration aims to convert Inferred Resources to Indicated and test extensions, with confirmed mineralized extensions outside the current pit shell. On the Sissédougou trend, drilling at ANV and ANV North continues to yield encouraging results, with a large gold-in-saprolite anomaly (approx. 3.0km strike) at ANV North showing thick, high-grade intercepts. Regional auger programs in 2026 targeted multiple gold-in-soil anomalies across several trends and the Gbatosso permit, with results supporting further target generation. Upcoming catalysts include regular exploration updates on the 130,000-meter Koné drill program, updated life of mine plan and year-end reserves/resources, ramp-up to commercial production in Q4-2026, completion of the hard-rock comminution circuit in Q2-2027, and exploration results from the 85,000-meter Didievi and 9,000-meter Wendé programs. Montage Gold also holds a portfolio of exploration tenements in Mauritania, where early-stage activities are ongoing.

Montage Gold completes the acquisition of African Gold

Montage Gold Corp. (TSX: MAU, OTCQX: MAUTF) has completed the acquisition of African Gold Limited (ASX:A1G), making African Gold a wholly-owned subsidiary. The transaction adds the Didievi project in Côte d’Ivoire to Montage’s portfolio and results in the issuance of 29,957,800 Montage Shares and 2,951,600 Montage options. Montage now has a total of 402,875,311 ordinary shares outstanding. The Koné project, Montage’s flagship asset in Côte d’Ivoire, is expected to enter production in late Q4-2026 with an estimated 16-year mine life and annual production of over 300,000 ounces of gold for the first 8 years. This acquisition strengthens Montage’s presence in Côte d’Ivoire and supports its goal of becoming a premier African gold producer.