MONTAGE GOLD CORP - MAUTF STOCK NEWS

Montage Gold Corp (TSXV: MAU, OTCQX: MAUTF) has announced the closure and drawdown of a US$75 million fully redeemable subordinated gold stream with Zijin Mining Group. This stream is part of a larger US$825 million financing package announced in October 2024. The funds will be used for the construction of the Koné project in Côte d'Ivoire, which commenced on December 18, 2024.

The company expects to draw an additional US$700 million gold stream and loan from Wheaton Precious Metals International and a US$50 million loan from Zijin during the construction phase. First gold production is scheduled for Q2-2027, with early works already in progress and major construction set to begin in the coming weeks.

Montage Gold Corp. (MAUTF) has launched construction of its Koné gold project in Côte d'Ivoire, with first gold production expected in Q2-2027. The project is fully funded with upfront capex of US$835 million against over US$900 million in liquidity sources. The company has awarded the EPCM contract to Lycopodium Minerals and secured pricing for over US$150 million in long-lead items. Key optimizations include upgrading the primary crusher power capacity by 33% and increasing ball mill power by 10%. Early works are progressing with no lost time incidents after 138,890 workhours. An ongoing 90,000m drill programme is expected to be completed soon, with a maiden mineral resource anticipated in Q1-2025.

Montage Gold has entered into a strategic partnership with Sanu Gold, acquiring a 19.9% stake through the issuance of 2.3 million shares valued at C$5.5 million. The Lundin Family is co-investing to obtain a 10% stake, joining AngloGold Ashanti's existing 14% ownership. Sanu owns three gold exploration properties in Guinea's Siguiri basin: Daina, Diguifara, and Bantabaye. The partnership includes Martino De Ciccio's appointment as Sanu's Non-Executive Chairman and participation in a C$10.0 million private placement at C$0.072 per share. The agreement includes participation rights, board nomination, and Right of First Refusal on certain asset-level transactions.

Montage Gold Corp (TSXV: MAU, OTCQX: MAUTF) has repurchased a 1.0% net smelter returns royalty on its Koné project in Côte d'Ivoire for US$10 million. This transaction reduces the total royalty on the Mankono Property from 2.0% to 1.0%, with Barrick and Endeavour retaining 0.7% and 0.3% respectively. The company is conducting a 60,000-meter drilling programme with the goal of discovering at least 1 million ounces of Measured and Indicated Resources at a grade exceeding 1 g/t Au, which would be 50% higher than the current Koné deposit grade. Montage aims to maintain an annual production of at least 300koz for more than 10 years.

Montage Gold Corp. (TSXV: MAU, OTCQX: MAUTF) has implemented a revenue protection programme for its Koné project. The company purchased 400,000 ounces of put options at a strike price of US$2,500/oz for US$52.7 million, spread across January 2027 to September 2028. This strategy secures minimum gold prices while maintaining upside potential during peak reimbursement phase to Wheaton Precious Metal, which receives 19.5% of payable gold at ~20% of spot price until 400,000 ounces delivery, then dropping to 10.8% for additional 130,000 ounces. The programme aims to enhance financial flexibility and secure significant margins at production onset.

Montage Gold has secured a US$825 million financing package from Wheaton Precious Metals and Zijin Mining for its Koné gold project in Côte d'Ivoire. The package includes a US$625m gold stream and US$75m loan facility from Wheaton, plus a US$75m redeemable subordinated gold stream and US$50m loan facility from Zijin. Combined with existing cash, this brings Montage's total liquidity to US$968m. The financing maintains significant exploration upside as the stream is to specific deposits, and Montage can reduce stream deliveries through production from outside areas. The company retains gold price upside through a sliding scale payment mechanism for the first 5 years.

Montage Gold Corp. (TSXV: MAU) (OTCQX: MAUTF) announces significant progress in its exploration efforts at the Koné project in Côte d'Ivoire. The company has completed a 30,170m drill campaign and launched a second 60,000m programme aimed at delineating resources by year-end. Highlights include:

- Confirmation of mineralization at all 14 targets drilled
- Identification of 52 exploration targets, up from 35 in July 2024
- Promising drill results from Gbongogo, ANV, Lokolo Main, and Diouma North targets
- Setting a discovery target of over 1 million ounces of M&I resources at a grade 50% higher than the Koné deposit

The company aims to improve the production profile from the start of operations and maintain annual production of at least 300koz for over 10 years.

Montage Gold Corp. (TSXV: MAU) (OTCQX: MAUTF) has upsized its brokered private placement to C$180 million, offering 102,857,143 common shares at C$1.75 per share. The Lundin Family Trusts and Zijin Mining Group have agreed to subscribe for shares resulting in 19.9% and 9.9% ownership interests, respectively. The net proceeds will fund development of the Koné Project, exploration, and working capital. The offering is expected to close around August 12, 2024, subject to regulatory approvals. The shares will have a four-month hold period and will not be registered under the U.S. Securities Act, limiting their offer and sale in the United States.

Montage Gold has received the final approval for its flagship Koné project in Côte d'Ivoire with the awarding of a mining permit. This significant milestone allows the company to commence construction and operational activities. The permit covers a vast area of 357km2, including advanced high-grade exploration targets. The company has also reached a land compensation agreement with local communities, underlining strong local support. Montage is planning to start construction by Q1-2025 and is advancing a 30,000-meter drill program, with high-grade intercepts already reported. Furthermore, a second 60,000-meter drill program is slated for late Q3-2024.