Montage Gold Provides Mid-Year Exploration Update for Its Koné Project Where Constuction Continues To Rapidly Advance

Core Insights - Montage Gold Corp. is advancing its Koné exploration program in Côte d'Ivoire, aiming to discover over 1 million ounces of Measured and Indicated (M&I) resources at a grade 50% higher than the existing Koné deposit, with production expected to commence in Q2-2027 [2][11][34] Exploration Progress - A total of 83,280 meters have been drilled in H1-2025, surpassing the total of 81,815 meters drilled in 2024, leading to an increase in the exploration program from 90,000 meters to 120,000 meters with a budget increase of US$4 million to US$18 million [3][12] - The exploration efforts have confirmed mineralization at all 23 targets tested since the beginning of the year, up from 18 targets in 2024, out of a total of 52 identified targets [4][11][23] Resource Estimates - Indicated Resources for higher-grade satellite deposits have increased by 404,000 ounces to 924,000 ounces at a grade of 1.32 g/t Au, with an additional 140,000 ounces at 1.09 g/t Au classified as Inferred Resources [7][34] - The updated Mineral Resource Estimate for the Gbongogo South deposit shows an increase in Indicated Resources by 74,000 ounces to 140,000 ounces at 1.26 g/t Au, while Koban North has a maiden Indicated Resource of 133,000 ounces at 1.07 g/t Au [8][64] Strategic Focus - The company is focusing on three parallel tracks: infill and extension drilling of previously delineated deposits, advancing pre-resource targets toward maiden resource definition, and testing new targets [14][23] - The ongoing drilling program aims to rapidly advance deposits to reserve status ahead of production, particularly at the Gbongogo South and Koban North deposits due to their proximity to the planned haulage road [12][25] Future Expectations - Further resource updates are anticipated for the ANV deposit in late Q3-2025, with additional updates planned for year-end for other targets such as Yere North, Lokolo Main, Sena, and Diouma North [8][67] - The company is well-positioned to achieve its short-term objective of discovering over 1 million ounces of M&I resources at above 1 g/t Au, representing a 50% higher grade than the Koné deposit [9][34]