An anonymous director reports

ALLIED GOLD ENERGIZES POWER LINE, FEEDS FIRST ORE TO THE CRUSHING CIRCUIT AS THE KURMUK MINE PROGRESSES TOWARD COMPLETION OF COMMISSIONING AND TRANSITIONS TO OPERATIONS

Allied Gold Corp. has provide an update on the Kurmuk mine in Ethiopia. As the Kurmuk mine completes commissioning and transitions toward operations, it will become one of the company's premier gold mines, generating significant growth in gold production and cash flows. Connection to the national Ethiopian electrical grid, a significant milestone, has been completed, and first ore has been fed through the crushing circuit of the processing facility. Mining continues to advance as planned, with ore stockpiles building to support ramp-up to commercial production.

Highlights:

• Grid connection: The power line connecting the Kurmuk mine to the Ethiopian electrical grid has been successfully commissioned and energized, thereby marking a significant milestone toward the start of operations.
• First ore crushed: Earlier this month, first ore was delivered to the commissioned crushing circuit, thereby marking another important milestone for the Kurmuk mine's operational readiness.
• Mining and ore stockpiling: Mining activities continue to advance well and ore stockpiles are on track to support plant feed during ramp-up to commercial production.
• Commissioning progressing across the site. The company expects to introduce first ore to the grinding circuit in the coming weeks with first gold to follow soon thereafter.

Power and energization

The 88-kilometre-long power line connecting the Kurmuk mine to the Ethiopian electrical grid has been successfully commissioned and energized and is now supplying sufficient power to complete commissioning and advance ramp-up of operations. The 132-kilovolt power line and related substations were completed by Ethiopian Electric Power (EEP) and provide the company with electrical power at a fixed rate of approximately four U.S. cents per kilowatt-hour, pursuant to a 20-year power purchase agreement with EEP, which supports the expected low production costs.

First ore through the crushing circuit

Earlier this month, first ore was fed through the crushing circuit. The full handover of the crushing circuit from the commissioning team to the operations team is now under way. The company expects to introduce ore to the grinding and downstream circuits as commissioning of those systems is progressively completed.

Mining and ore stockpiling

Mining activities continue to advance well with ore stockpiles being established to support plant feed during ramp-up to commercial production, and, in addition, exposed mineralized zones from mining show expected widths and grades. As of today, the company is on track with mining activities and has established an ore stockpile of approximately one million tonnes, and stockpiled ore levels are planned to continue increasing to nearly 1.5 million tonnes, or three months of ore feed ahead of full circuit commissioning, which, together with ore available from continuing mining activities, will provide ample ore feed to support a controlled, steady ramp-up into commercial production. As previously disclosed, mining will initially come from the Dish Mountain and Ashashire open pits, which contain the entire current inventory of mineral resources and mineral reserves. Exploration efforts to expand mineral inventories and extend mine life by extending known deposits and discovering and developing new ore sources within the property are also progressing.

Commissioning progressing across site

Individual systems are being completed, tested verified against design parameters, and handed over from the construction and commissioning team to the operations team. The balance of commissioning activities continues to advance across the site, with the remaining electrical, instrumentation and systems testing well under way. The company expects to introduce first ore to the grinding circuit soon with first gold expected shortly thereafter.

About the Kurmuk mine

The Kurmuk mine, located in the Benishangul-Gumuz region of western Ethiopia, represents the cornerstone of Allied Gold's organic growth strategy. The mine is a conventional truck-and-shovel open-pit operation from two initial open pits with an equally conventional CIL (carbon-in-leach) processing plant. The mine currently contains 2.7 million ounces of proven and probable mineral reserves in Dish Mountain and Ashashire, which are the initial ore sources for production. Significant exploration opportunities across a prospective 1,450-square-kilometre land package are expected to increase the mineral inventories and mine life. Designed as a large-scale mining operation with access to low-cost grid power, the Kurmuk mine is expected to become a significant contributor to Allied Gold's production and cash flows with production guidance of 240,000 to 270,000 ounces in its first full year and approximately 300,000 ounces the following year and production averaging at least 240,000 ounces per year for an initial strategic target mine life of 15 years. Over its first four years of operation, the mine is expected to average approximately 290,000 ounces of gold production annually at industry-leading costs, while continuing optimization initiatives and significant exploration potential provide additional operational flexibility and long-term growth opportunities.

Qualified person

Except as otherwise disclosed, all scientific and technical information contained in this press release has been reviewed and approved by Sebastien Bernier, PGeo (senior vice-president, technical services), a qualified person as defined by National Instrument 43-101.

About Allied Gold Corp.

Allied Gold is a Canadian-based gold producer with a significant growth profile and mineral endowment that operates a portfolio of three producing assets and development projects located in Ivory Coast, Mali and Ethiopia. Led by a team of mining executives with operational and development experience and proven success in creating value, Allied Gold aspires to become a mid-tier next-generation gold producer in Africa and ultimately a leading senior global gold producer.

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