Montage Gold Reaches Key Milestone in Koné Project Construction

Montage Gold Corp. has announced significant progress in the construction of its Koné gold project in Côte d'Ivoire, with the start of concrete pouring for the processing plant, particularly the Carbon-in-Leach (CIL) tank foundations, ahead of schedule. Since construction began in December 2024, the workforce on-site has increased from 350 to 1,700.

The project, with a budget of $835 million, remains on track for the first gold production in Q2 2027. To date, 25% of the budget has been committed, and expenditure is in line with forecasts.

Key Developments:

• Infrastructure: 30% of the processing plant earthworks have been completed, and the construction of the CIL tanks has begun three weeks ahead of schedule.
• Safety and Local Employment: Over 730,000 work hours without major incidents have been recorded, and 90% of employees are Ivorian. Technical training programs are ongoing in collaboration with the Lycée Technique de Mankono.
• Procurement: All long-lead equipment (crushers, mills, tanks, etc.) has been ordered, with manufacturing currently in progress.
• Energy and Accessibility: Montage is working with the Ivorian Electricity Company (CIE) to connect the site to a 225 kV power line, while access roads and water storage infrastructure are advancing rapidly.
• Community Engagement: The Resettlement Action Plan is well underway, with compensation provided to landowners, and agricultural and literacy programs benefiting over 450 people.

At the same time, Montage is continuing its exploration program, aiming to identify over 1 million ounces of Measured and Indicated resources before production begins, with a grade 50% higher than the current Koné deposit. A report on these new resources is expected in the coming weeks.

The Koné project remains on schedule and within budget, reinforcing Montage Gold’s ambition to become a major gold producer in Africa.