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Construction of the Koné mine has created approximately 3,600 jobs, of which over 95% were nationals thanks to the training programmes initiated prior to launching construction. Montage’s owner-mining operating model has allowed construction employees to transition within the operating team, thanks to further training programmes and on-site truck-driving simulators. Once ramped up, the operation is expected to create approximately 1,500 permanent roles and many more indirect roles.

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Mining activities at the Koné deposit are progressing well with low working capital requirements as the oxide circuit allows for minimal rehandling as the majority of the ore mined from surface is being fed directly into the plant. Mining of the higher grade Gbongogo Main deposit is expected to commence in late 2026, while mining at other recently discovered higher grade satellite deposits is expected to commence over the course of 2027.

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The Probable Reserves for the Koné mine, as published along with the 2024 Updated Feasibility Study (“2024 Feasibility Study”), stood at 4.01Moz at a grade of 0.72 g/t Au, comprised of 3.52Moz at 0.67 g/t Au and 0.49Moz at 1.43 g/t Au for the Koné and Gbongogo Main deposits, respectively. Given the exploration success, 12 deposits have now been delineated while mineralization has been intercepted at 25 targets with over 20 targets yet to be drill tested. On June 15, 2026, the Company reported that Measured and Indicated (“M&I”) Resources for higher grade satellite deposits have increased by 1.14Moz to 1.66Moz at 1.51 g/t Au compared to 520koz at 1.48 g/t Au, which was used as a basis for the 2024 Feasibility Study whilst Inferred Resources for satellite deposits have increased from nil to 766koz at 1.34 g/t Au. The overall Koné mine M&I Resources have increased by 1.42Moz to 6.29Moz, with grade improving by 27% to 0.80 g/t Au, and Inferred Resources have increased by 1.62Moz to 2.03Moz, with grade increasing by 36% to 0.68 g/t Au, as compared to the basis used for the 2024 Feasibility Study¹.

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An exploration programme consisting of over 130,000 meters of drilling is underway at the Koné mine for 2026, which once complete will total over 380,000 meters of drilling since the publication of the 2024 Feasibility Study, aimed at discovering higher-grade satellite deposits with the objective of boosting production from the onset. As previously announced, the Company expects to publish an updated life of mine plan for the Koné mine along with year-end reserves and resources, to incorporate new data for the Koné, Gbongogo Main and other higher-grade satellite deposits, as well as the initiatives undertaken to further unlock value including the oxide circuit, process plant design enhancements, and the shift to an owner-operated mining model.

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NEXT STEPS
Key upcoming catalysts by asset across the Company include:

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Table 1: Key upcoming catalysts by asset

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ABOUT MONTAGE GOLD 
Montage Gold Corp. (TSX: MAU) is a Canadian-listed company focused on becoming a premier multi-asset African gold producer, with its flagship Koné mine, located in Côte d’Ivoire, at the forefront. Based on the Updated Feasibility Study published in 2024 (the “UFS”), the Koné mine has an estimated 16-year mine life and sizeable annual production of +300koz of gold over the first 8 years and entered production in Q3-2026. The Company has also built a high-quality, multi-asset growth pipeline including the Didievi and Wendé properties in Côte d’Ivoire, and a portfolio of prospective exploration tenements in Mauritania.

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CONTACT INFORMATION

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QUALIFIED PERSONS STATEMENT
The scientific and technical contents of this press release have been verified and approved by Mr. Peder Olsen, a Qualified Person pursuant to NI 43-101. Mr. Olsen, President and Chief Development Officer of Montage, is a registered Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM).