Montage Gold Reports on Its Q2 and H1-2025 Activities

Construction Activities - The Koné project is progressing on-budget and on-schedule, with the first gold pour expected in Q2-2027 [9][14][32] - Over 3.0 million hours have been worked without a Lost Time Injury, with more than 2,500 employees and contractors on-site [6][14][17] - As of June 30, 2025, a total of $339.2 million has been committed to the project, with $158.8 million disbursed, representing approximately 44% of the total estimated capital expenditure of $835 million [9][41] Exploration Activities - The exploration program for 2025 has been increased from 90,000 meters to 120,000 meters, with 83,280 meters already drilled in H1-2025 [12][43] - The focus is on delineating higher-grade resources, with a target of discovering at least 1 million ounces of Measured and Indicated Resources at a grade 50% higher than the Koné deposit before production begins [15][42] - An updated Mineral Resource Estimate was published on July 21, 2025, for the Gbongogo South and Koban North deposits, with further updates expected throughout the year [45][46] Financial Position - As of June 30, 2025, the company had a consolidated cash balance of $99.9 million, up from $42.7 million at the end of Q1-2025 [38] - Total liquidity and available financing amounted to $734.8 million, including $593.8 million of undrawn financing [39] - Cash flows generated from financing activities increased significantly to $150.5 million in Q2-2025, driven by the partial drawdown of the Wheaton Stream [37]