Mr. James Mackie reports

MAJESTIC GOLD CORP. ANNOUNCES 2025 ANNUAL RESULTS

Majestic Gold Corp. has released its financial and operational results for the year ended Dec. 31, 2025. The financial results in this news release are expressed in U.S. dollars unless otherwise stated.

Full-year highlights:

• Revenue increase 25.8 per cent to $89.3-million for FY 2025, compared with $71-million for FY 2024;
• Gross profit from mining operations increased by 30.8 per cent to $47.6-million in FY 2025, from $36.4-million for FY 2024;
• Net income was $18.3-million for FY 2025, a decrease of 10.8 per cent from $20.5-million for FY 2024;
• Cash flow from operating activities increased by 8.3 per cent to $30.9-million in FY 2025, from $28.5-million for FY 2024;
• Gold production was 29,804 ounces for FY 2025, a 6.7-per-cent decrease over the 31,949 ounces produced for FY 2024;
• Strong financial position at Dec. 31, 2025. The company had cash and cash equivalents of $167.1-million (FY 2024 -- $100.7-million) and working capital of $117-million (FY 2024 -- $86.3-million);
• Dividends of 0.72 Canadian cent per share was paid on Oct. 9, 2025, to the shareholders for a total amount of $7.5-million (Canadian) (FY 2024 -- $7.3-million (Canadian) or 0.7 Canadian cent per share), representing a yield of approximately 5.14 per cent at the time declared;
• The company, through its subsidiary, Persistence, acquired a 52-per-cent interest in Yantai Mujin and the Muping gold project for total consideration of 81.9 million renminbi (approximately $15.8-million (Canadian));
• On Oct. 14, 2025, the company's 58.75-per-cent-held subsidiary, Persistence, completed a private placement on the main board of The Stock Exchange of Hong Kong Ltd. under stock code 02489 for gross proceeds of $472-million (Hong Kong)(approximately $60.7-million) by way of issuance of 400 million common shares at a price of $1.18 (Hong Kong) per share (approximately 15.2 cents per share) on the HKEX. Persistence's recent closing share price was $1.08 (Hong Kong) (19 approximately Canadian cents) for a market capitalization of $2.6-billion (Hong Kong) (approximately $466.56-million (Canadian));
• Total cash costs and all-in sustaining costs (AISC) for FY 2025 were $1,195 per ounce and $1,584 per ounce, compared with $856 per ounce and $1,061 per ounce for FY 2024. For AISC computation details, refer to pages 21 to 23 of the MD&A (management's discussion and analysis) for this non-IFRS (international financial reporting standards) financial measure;
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for FY 2025 was $4-million, compared with $38.3-million for FY 2024. For EBITDA computation details, refer to pages 21 to 23 of the MD&A for this non-IFRS financial measure.

Fourth quarter highlights:

• Revenue was $25.6-million, an increase of 34.8 per cent from $19-million for the FY 2024 comparative quarter;
• Gross profit from operations was $14.5-million, an increase of 65.1 per cent from $8.8-million for the FY 2024 comparative quarter;
• Net income was $3.1-million, a decrease of 16 per cent from $3.7-million for the FY 2024 comparative quarter;
• Cash flow from operating activities was $13.3-million, a 44.0-per-cent increase over the $9.3-million for the FY 2024 comparative quarter;
• Gold production decreased by 8.3 per cent to 7,134 ounces, from 7,782 ounces produced for the FY 2024 comparative quarter.

This news release should be read in conjunction with the company's audited consolidated financial statements for the year ended Dec. 31, 2025, and the associated MD&A, which are available on SEDAR+ and on the company's website.

About Majestic Gold Corp.

Majestic Gold, a British Columbia-based company, is a low-cost junior gold producer engaged in commercial gold production in eastern Shandong province, China, with mining operations at its Songjiagou gold mines, its flagship project, and the Mujin gold project. Additional information on the company and its projects is available on SEDAR+ and on the company's website.

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