Mr. Jake Cain reports

MONTAGE GOLD SECURES OVER 2,000 square km OF PROSPECTIVE GOLD EXPLORATION TENEMENTS IN MAURITANIA

Following a competitive tender and due diligence process, Montage Gold Corp. has secured five greenfield exploration permits covering an area of approximately 2,103 square kilometres in a highly prospective region of Mauritania.

Highlights:

• Montage has secured five prospective gold exploration permits covering a total area of approximately 2,103 square kilometres of Birimian greenstone belts in Mauritania, following a competitive tender and due diligence process.
• Newly awarded tenements are favourably situated on the Mesoarchean-Paleoproterozoic structural boundary and associated intersecting feeder structures, in northern Mauritania, a known target for orogenic gold exploration.
• Efforts are now under way on initial ground-based reconnaissance and target definition programs.

Martino De Ciccio, chief executive officer of Montage, commented: "The obtention of highly prospective gold exploration tenements in Mauritania marks another step towards executing our strategy of creating a premier multiasset African gold producer. With construction at the Kone project in Cote d'Ivoire remaining on budget and ahead of schedule, for a first gold pour by year-end, we are pleased to be simultaneously building a high-quality development and exploration pipeline focused on attractive mining jurisdictions.

"The formation of strategic corporate partnerships has notably driven rapid progress at the Didievi project in Cote d'Ivoire, which is now expected to become our next development asset following the closing of the previously announced acquisition of African Gold.

"In parallel, we continue to position ourselves as the partner of choice through our win-win approach with local stakeholders and host governments, which has enabled us to secure exploration permits. This includes the Wende advanced greenfield property, awarded last year in Cote d'Ivoire, where drilling is now under way, as well as our recent expansion into Mauritania.

"We are particularly pleased to enter Mauritania, where we already benefit from established trusted relationships with local stakeholders. Notably, our CFO, Constant Tia, brings approximately 15 years of in-country experience from his previous role as regional CFO for Kinross Gold. In addition, the Lundin family, a cornerstone shareholder of Montage, has a strong track record in Mauritania, including the development of the Tasiast mine.

"We look forward to continuing to build on the strong momentum generated across our business, with exploration efforts underpinning long-term value creation."

Silvia Bottero, executive vice-president, exploration, of Montage commented: "We are pleased to be expanding our exploration portfolio into Mauritania, in a geologically exciting context, where we have been granted our top priority selected tenements following an in-depth review of existing geophysical, geochemical and geological mapping data. The Sfariat and Zednes exploration blocks exhibit the regional geological conditions we typically seek along major Paleoproterozoic and Archean boundaries that host orogenic-type gold deposits. Efforts are already under way on initial ground-based reconnaissance and exploration programs.

"Our proven exploration methodology has unlocked significant value in Cote d'Ivoire, and we look forward to applying these same principles as we continue with our objective of sourcing projects organically through our ability to stake and explore grounds."

Mauritania exploration tenements

Mauritania, a well-established mining jurisdiction with notable operations including Kinross Gold's Tasiast gold mine and First Quantum Minerals' Guelb Moghrein copper-gold mine, is endowed with significant exploration potential. Paleoproterozoic, Birimian rocks containing multiple intrusives and greenstone belts, which are the target for gold exploration, have been mapped across the north and northeastern extents of the country, whilst the juxtaposition of Archean supracrustal rocks creates the ideal geological conditions for orogenic-type gold deposits.

The Permits cover a total surface area of approximately 2,103 square km and are located in the Western and Eastern Reguibat regions of northern Mauritania. The permits are favourably situated along a juxtaposition between extensive Paleoproterozoic Birimian domains and Archean supracrustal rocks, alongside anastomosing shear zones and deformation structures, the combination of which are the target for orogenic-type gold exploration. Four tenements have been secured in the Sfariat exploration block, whilst a further permit has been secured within the Zednes exploration block, both of which are underexplored.

The permits can be characterized into three broad geological domains:

• PR3798 (Zednes permit), a 476 square km tenement, is located on the contact between the Archean Western Reguibat and Paleoproterozoic Eastern Reguibat, interpreted to be a major Mesoarchean-Paleoproterozoic contact or shear zone.
• PR3794, PR3796 and PR3797 (Sfariat permit), respectively 491 square km, 342 square km and 400 square km tenements, are located along the Sfariat shear zone, a major structure feeding from the Mesoarchean-Paleoproterozoic contact to the south. The permits exhibit strongly deformed mylonites, shearing and folding structures throughout a series of Paleoproterozoic metasediments that include quartzite, schists and marble, often at the border with older felsic intermediate intrusives.
• PR3795 (Sfariat permit), a 394 square km tenement, located at a triple junction between the trending Mesoarchean-Paleoproterozoic and the intersecting Sfariat shear zone.

Montage will own a 100-per-cent interest in the Sfariat permits, which it was directly awarded. Montage entered into an agreement to obtain an 80-per-cent interest in the Zednes permit with SOCIEX, which was awarded the permit, which remains subject to customary approvals. Under the Zednes permit agreement, Montage will finance all exploration activities until an exploitation permit is awarded, at which point, SOCIEX has the right to either contribute its pro-rata share of development expenditures or convert its ownership into a 1.0-per-cent NSR (net smelter return).

Next steps

An initial budget of up to $2-million (U.S.) has been allocated to progress exploration activities in Mauritania over the course of 2026 comprises:

• Initial reconnaissance exploration fieldwork, including geological mapping, geophysical survey and approximately 6,000 metres of soil sampling campaigns;
• Initial AC and RC reconnaissance drilling programs to commence in Q4 2026 with approximately 15,000 metres of drilling.

About Montage Gold Corp.

Montage Gold is a Canadian-listed company focused on becoming a premier African gold producer, with its flagship Kone project, located in Ivory Coast, at the forefront. Based on the updated feasibility study published in 2024 (the UFS), the Kone project has an estimated 16-year mine life and sizeable annual production of 300,000 plus ounces of gold over the first eight years and is expected to enter production in late Q4 2026.

Qualified persons statement

The scientific and technical contents of this press release have been verified and approved by Silvia Bottero, BSc, MSc, a qualified person pursuant to National Instrument 43-101. Ms. Bottero, EVP, exploration of Montage, is a registered professional natural scientist with the South African Council for Natural Scientific Professions (SACNASP), a member of the Geological Society of South Africa and a member of AusIMM.

We seek Safe Harbor.