Allied Gold Reports Resource Growth and Mine Life Extension Potential from Exploration Program as the Kurmuk Mine Completes Commissioning and Begins Operations

NEWS RELEASE

ALLIED GOLD REPORTS RESOURCE GROWTH AND MINE LIFE EXTENSION POTENTIAL FROM EXPLORATION PROGRAM AS THE KURMUK MINE COMPLETES COMMISSIONING AND BEGINS OPERATIONS

TORONTO, ON – October 6, 2026 – Allied Gold Corporation (TSX: AAUC, NYSE: AAUC) (“Allied” or the “Company”) is pleased to provide an update on exploration at the Kurmuk Mine in western Ethiopia, highlighting exploration progress and the expansion of the mineralized zones within this highly prospective 30 km by 50 km gold camp. As commissioning and the start of operations at its Kurmuk Mine advance, with first ore to the grinding circuit expected imminently and first gold expected shortly thereafter, the Company is now focused on extending mine life and identifying additional higher-grade ore zones.

Exploration has initially focused on extensions to the two initial open pits, Ashashire and Dish Mountain, and on advancing nearby targets that could become additional mining areas providing further operational flexibility.

The Kurmuk Mine is planned as a conventional open-pit and agitated leaching operation with a life-ofmine production of at least 240,000 gold ounces per year, averaging approximately 300,000 ounces per year in the initial four years.

Highlights^(*)

• Ashashire: hole ASDD227 returned 13.86 m at 10.07 g/t Au, 13.77 m at 9.15 g/t Au and 9.22 m at 8.48 g/t Au from the central core of the deposit. The deposit remains open down-dip below 425 m, and recent grades and widths support the potential to define an underground Mineral Resource.
• Dish Mountain: drilling returned extensions to known lenses, including 16.1 m at 2.9 g/t Au and 14.4 m at 3.4 g/t Au in hole DMDD788. The deposit remains open laterally and down-dip beyond approximately 300 m.
• Hiccup Hill: Resource modelling is progressing at Hiccup Hill, a high-grade zone located on the Tsenge Trend, and 7.5 km south of the plant. As the Kurmuk Mine initially takes advantage of higher-grade mining phases at Ashashire and Dish Mountain, thereby driving higher production in the initial years, an exploration objective has been to find and develop additional sources of highergrade material to sustain higher production levels for longer. Hiccup Hill represents a potential source of such higher-grade material and is the most advanced among similar high-grade targets along the Tsenge Trend.
• Intercepts in this release are reported as drilled lengths at a 0.3 g/t Au cut-off. Estimated true widths vary from

60% to 95% of drilled length, except for the Dul Mountain intercepts, where estimated true widths are unknown, and as otherwise stated for the Western Prospects.

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• Tsenge Trend: drilling results indicate that high-grade zones appear to repeat along its 9 km long trend, with 80.09 m at 1.53 g/t Au at Kiftet (TSDD052), 10.27 m at 3.78 g/t Au at Setota (TSDD066) and 9.0 m at 4.23 g/t Au at Bumblebee (TSRC006). An initial Mineral Resource estimate for Kiftet and Hiccup Hill is expected by the first half of 2027, along with exploration activities to confirm and extend the other high-grade zones along the trend.
• Regional targets: drilling at Urchin, adjacent to the Ashashire haul road, returned 3.0 m at 18.52 g/t Au demonstrating the potential in the system to produce high-grade mineralization. A field review is planned for the fourth quarter at Agu and Ahushu, neither of which has been drilltested previously but both show strong surface mineralization and prospectivity.

Dish Mountain and Ashashire Growth

Exploration in 2026 has delivered down-dip and strike extensions to the mineralized zones at the Dish Mountain and Ashashire open pits, confirming the potential to expand the current Proven and Probable Mineral Reserves⁽¹⁾ of 2.7 million ounces. Dish Mountain continues to demonstrate incremental resource growth potential, with recent drilling successfully extending known gold-bearing zones and identifying favourable geological targets. The 1,600 m by 500 m deposit remains open at depth and laterally, offering opportunities to further expand the mineralized footprint and pit limits. Ashashire continues to deliver exceptional high-grade gold results, including 13.86 m at 10.07 g/t Au, with higher-grade mineralization extending approximately 750 m along strike below the current pit extents. The deposit remains open at depth and along strike, offering significant exploration upside and strong potential for both open-pit expansions and an underground Mineral Resource. Ongoing drilling and next year’s resource update position both Dish and Ashashire as contributors to future Mineral Resource growth and value creation.

High-grade Zones along the Tsenge Trend

The 9 km Tsenge Trend, which is significantly longer in strike length than either Ashashire or Dish Mountain, is emerging as a significant growth opportunity, with multiple high-grade gold discoveries highlighting substantial resource potential (see Figure 1). As the Kurmuk Mine initially takes advantage of higher-grade mining phases at Ashashire and Dish Mountain, thereby driving higher production in the initial years, these new high-grade zones are aligned with the exploration objective of finding and developing additional sources of higher-grade material to sustain higher production levels for longer. Resource modelling is progressing at the high-grade Hiccup Hill zone, the most advanced among similar high-grade targets along the Tsenge Trend, while positive results at Kiftet, Setota and Bumblebee point to multiple high-grade zones along Tsenge, thereby providing good potential for meaningful additional upside and operational flexibility to help sustain a long-term production profile of 300,000 ounces per year. An initial Mineral Resource estimate for Kiftet and Hiccup Hill is expected by the first half of 2027, along with exploration activities to confirm and extend the other high-grade zones along the trend.

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Figure 1: Kurmuk Plan Map

Regional Exploration

During 2026, the Company began advancing work at regional targets at its Kurmuk Mine, obtaining encouraging high-grade results at Urchin and the Western Prospects, while other large, underexplored gold anomalies at Agu, Ahushu and Dul Mountain are planned to be advanced progressively starting in late 2026. Allied believes these targets are highly prospective, and the upcoming work provides opportunities to potentially define material new deposits within trucking distance to the processing plant, expanding the resource base which could potentially support additional mill feed; extend mine life; and support long-term strategic production targets.

Outlook

The focus for exploration at the Kurmuk Mine is evolving from deposit-scale zone definition and extension to nearby priority targets such as Tsenge, which are demonstrating near-term, higher-grade resource

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discovery potential. Going forward, exploration will continue to prioritize these near-term opportunities with increasing sequential focus on new targets, including Agu, Ahushu and Dul Mountain, along with continued evaluation of Urchin and Western Prospects. While advancing these exploration targets, initial drill target development data will be collected over the new Azali and Agazen targets located in the southern and northern portions of the property (see Figure 10 for location), respectively, and over the eastern half of the property, where limited exploration has been carried out.

Technical Discussion

Since October 2025, 149 holes totalling 28,003 m of drilling have been completed, with a focus on extending known zones at depth and along strike and on exploring new targets. Results are presented below for Dish Mountain and Ashashire, the Tsenge Trend and the regional targets shown in Figure 1.

Dish Mountain and Ashashire Extensions

At both Dish Mountain and Ashashire, drilling continues to intersect lateral and vertical extensions of the deposits, with the limits of the mineralized systems remaining open supporting the potential to expand the current pit limits and define an underground resource, particularly at Ashashire. Drilling continues at the south end of Ashashire and, at Dish Mountain, along the southwest side of the deposit and at depositproximal targets.

Dish Mountain

• Dish Mountain is a 1,600 m by 500 m, multi-lens deposit that remains open down-dip beyond approximately 300 m and laterally.
• Drilling in 2026 returned extensions to known lenses and provided insight into which geological units are preferential hosts for gold mineralization.
• Incremental additions to current Mineral Resources are expected. Figure 2 shows the recent intercepts at Dish Mountain and its simplified geology, and Figure 3 shows a reference section.
• Selected new drill highlights are presented in the table below.

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Figure 2: Dish Mountain Geology and 2026 Drilling

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Figure 3: Dish Mountain Reference Section

Ashashire

• Ashashire is a 1,300 m by up to 170 m wide collection of mineralized lenses that remains open down-dip below 425 m depth and, to a lesser extent, along strike. To date, Ashashire has returned more higher-grade intercepts than the other exploration targets on the property.
• Hole ASDD227 returned three exceptional intercepts from the central core of the deposit: 13.86 m at 10.07 g/t Au, 13.77 m at 9.15 g/t Au and 9.22 m at 8.48 g/t Au. Adjacent holes suggest that higher gold grades can be traced for approximately 750 m along strike (Figures 4 and 5).
• The grades and widths returned support the potential to define pit expansions or an underground Mineral Resource.
• Flat-plunging hydrothermal breccias that contain higher-than-average gold grades have been modelled. Locally strong potassic alteration and elevated levels of tellurium, silver and molybdenum are noted, suggesting a potential magmatic source for the gold mineralization and a style of mineralization that has not previously been explored or recognized at Kurmuk.
• Recent holes targeting the depth extent of the deposit intersected mineralization where expected, with an updated Mineral Resource expected in 2027. Current holes are testing for extensions of
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the deposit to the south. A summary of recent drill composite highlights is presented in the table below.

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Figure 4: Ashashire Plan View, Recent Results

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Figure 5: Ashashire Cross-section

Tsenge Trend – High-Grade Zones Being Defined

The Tsenge Trend is a 9 km long gold-in-soil anomaly (Figure 6). Drilling and modelling to date indicate that high-grade zones appear to repeat along the trend. Hiccup Hill, at the south end of the trend, is the most advanced of these zones, with additional strong mineralization identified immediately to the north at Kiftet and Setota and, most recently, at Bumblebee.

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Figure 6: Tsenge Trend, Southern Half, Drill and Trench Highlights

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• Hiccup Hill: Resource modelling is progressing at the high-grade Hiccup Hill area, which is located 7.5 km south of the plant. Recent intercepts include 6.8 m at 7.46 g/t Au (TSDD050) and 8.12 m at 4.21 g/t Au (TSDD047). Drilling continues with the goal of expanding this mineralized zone to the northeast, towards Kiftet and Setota (Figure 7).

Figure 7: Hiccup Hill, Kiftet and Setota Detail Plan Map

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• Kiftet: the next high-grade target identified lies immediately northeast of Hiccup Hill. Hole TSDD052 returned 80.09 m at 1.53 g/t Au, 27.60 m at 1.32 g/t Au and 6.72 m at 6.75 g/t Au (Figure 8). Five more holes, with a sixth in progress, have been drilled to define the strike and up-dip extent of this zone. The higher-grade portion of this zone has a strike length of up to 120 m with the zone traceable for approximately 300 m. A Mineral Resource for Kiftet and Hiccup Hill is expected to be completed by the first half of 2027.

Figure 8: Kiftet Zone Summary Section

• Setota: a new, high-grade zone of mineralization was intersected in hole TSDD066, which returned 40.50 m at 1.17 g/t Au, 10.27 m at 3.78 g/t Au and 1.28 m at 69.77 g/t Au (Figure 9). The mineralization style in this hole is similar to that observed at Kiftet, although the relationship between the two zones remains to be determined. This hole was an 80 m southwest step-up from a previously reported intercept of 10.49 m at 1.85 g/t Au. Setota is an approximately 500 m long zone with locally higher grades and greater widths.