Montage Gold Acquires African Gold, Expands Presence in Central Côte d’Ivoire

Vancouver, Canada — November 28, 2025: Montage Gold Corp. (TSX: MAU, OTCQX: MAUTF) has announced the acquisition of African Gold Limited (ASX: A1G), adding the high-quality Didievi gold project in central Côte d’Ivoire to its portfolio. The transaction, valued at approximately US$170 million, will be completed through an Australian court-approved Scheme of Arrangement.

The Didievi project, already hosting an Inferred Resource of 12.4 million tonnes at 2.5 g/t Au (989,000 ounces of gold), is expected to become a standalone operation under Montage’s management. Montage, which already owns a 17.3% stake in African Gold and operates the project, has conducted extensive drilling and metallurgical tests, further increasing confidence in the project’s potential.

Montage’s CEO, Martino De Ciccio, highlighted that the acquisition strengthens the company’s presence in central Côte d’Ivoire alongside its flagship Koné project, which remains on schedule and within budget. “This accretive transaction builds on our strategy to become a premier African gold producer and delivers value to both Montage and African Gold stakeholders,” he said.

Under the terms of the deal, African Gold shareholders not already held by Montage will receive 0.0628 Montage shares per African Gold share, giving them 7.8% of the combined company on a fully diluted basis. The transaction has received unanimous approval from both companies’ boards and is expected to be finalized by late April 2026, subject to regulatory and shareholder approvals.

Adam Oehlman, CEO of African Gold, expressed confidence in Montage’s ability to unlock value at Didievi, stating that the partnership benefits shareholders while leveraging Montage’s expertise in exploration and construction.

Montage Gold is a Canadian-listed company focused on becoming a leading African gold producer, with its Koné project slated for first gold production in Q2 2027. African Gold is an Australian-listed exploration company focused on the Didievi project in central Côte d’Ivoire, strategically located near established gold operations.

For more information, visit montagegold.com.