HIGHLIGHTS: 

• Montage has secured five prospective gold exploration permits covering a total area of approximately 2,103km²of 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 underway on initial ground-based reconnaissance and target definition programmes
  

NOUAKCHOTT, Mauritania, April 14, 2026 (GLOBE NEWSWIRE) -- Montage Gold Corp. (“Montage” or the “Company”) (TSX: MAU, OTCQX: MAUTF) is pleased to announce that, following a competitive tender and due diligence process, Montage has secured five greenfield exploration permits (the “Permits”) covering an area of approximately 2,103km² in a highly prospective region of Mauritania.

Martino De Ciccio, CEO of Montage, commented: “The obtention of highly prospective gold exploration tenements in Mauritania marks another step towards executing our strategy of creating a premier multi-asset African gold producer. With construction at the Koné project in Côte 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 Côte 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 Wendé advanced greenfield property, awarded last year in Côte d’Ivoire, where drilling is now underway, 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, EVP 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 underway on initial ground-based reconnaissance and exploration programmes.

Our proven exploration methodology has unlocked significant value in Côte 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.

As shown in Figure 1, the Permits cover a total surface area of approximately 2,103km² 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.

Figure 1: Mauritania geological map and permit locations

As shown in Figure 2, the Permits can be characterized into three broad geological domains:

• PR3798 (Zednes permit), a 476km² 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 491km², 342km², and 400km² 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; and
• PR3795 (Sfariat permit), a 394km² tenement, located at a triple junction between the trending Mesoarchean-Paleoproterozoic and the intersecting Sfariat shear zone.
  

Figure 2: Map of Sfariat and Zednes location

Montage will own a 100% interest in the Sfariat permits, which it was directly awarded. Montage entered into an agreement to obtain an 80% interest in the Zednes permit with SOCIEX, who was awarded the permit, which remains subject to customary approvals. Under the Zednes permit agreement, Montage will fund 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% NSR.

NEXT STEPS
An initial budget of up to US$2 million has been allocated to progress exploration activities in Mauritania over the course of 2026 comprised of:

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

ABOUT MONTAGE GOLD
Montage Gold Corp. (TSX: MAU) is a Canadian-listed company focused on becoming a premier African gold producer, with its flagship Koné project, located in Côte d’Ivoire, at the forefront. Based on the Updated Feasibility Study published in 2024 (the “UFS”), the Koné project has an estimated 16-year mine life and sizeable annual production of +300koz of gold over the first 8 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 NI 43-101. Mrs. 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.

CONTACT INFORMATION

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking information and forward-looking statements within the meaning of Canadian securities legislation (collectively, “Forward-looking Statements”). All statements, other than statements of historical fact, constitute Forward-looking Statements. Words such as “will”, “intends”, “proposed” and “expects” or similar expressions are intended to identify Forward-looking Statements. Forward-looking Statements in this press release include statements related to the timing and amount of future production from the Koné project; anticipated mining and processing methods of the Koné project; anticipated mine life of the Koné project; anticipated timing and closing of the African Gold transaction; the grant of new exploration permits; and the expected timing of commencement, programme, budget of, and any statements that suggest Montage will make economic discoveries thereon; and completion of exploration programmes.

Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that any Forward-looking Statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from include uncertainties inherent in the preparation of mineral reserve and resource estimates and definitive feasibility studies, and in delineating new mineral reserve and resource estimates, including but not limited to, assumptions underlying the production estimates not being realized, incorrect cost assumptions, unexpected variations in quantity of mineralized material, grade or recovery rates being lower than expected, unexpected adverse changes to geotechnical or hydrogeological considerations, or expectations in that regard not being met, unexpected failures of plant, equipment or processes (including construction equipment), delays in or increased costs for the delivery of construction equipment and services, unexpected changes to availability of power or the power rates, failure to maintain permits and licenses, higher than expected interest or tax rates, adverse changes in project parameters, unanticipated delays and costs of consulting and accommodating rights of local communities, geological complexity and uncertainty for new exploration permits, limited historical data for new exploration permits, the unpredictable nature of mineralization and economic deposits of gold, environmental risks inherent in the Côte d’Ivoire and Mauritania, title risks, including failure to renew concessions, unanticipated commodity price and exchange rate fluctuations, delays in or failure to receive access agreements or amended permits, and other risk factors set forth in the Company’s most recent Annual Information Form available at www.sedarplus.ca, under the heading “Risk Factors”. The Company undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Montage to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/6e319994-e5e8-444a-a727-1580ba2ff2e9

https://www.globenewswire.com/NewsRoom/AttachmentNg/29b72068-d55b-4b91-b7f8-caf2db54153d

Figure 1

Mauritania geological map and permit locations

Figure 2

Map of Sfariat and Zednes location

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