Montage GOLD Announces Annual General and Special Meeting Results
Press
Release
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MONTAGE GOLD ANNOUNCES ANNUAL GENERAL AND SPECIAL MEETING RESULTS
Vancouver, Canada — June 10, 2024 — Montage Gold Corp. (“Montage” or the “Company”) (TSXV: MAU, OTCQX: MAUTF) is
pleased to announce that all resolutions set forth in the Company’s management information circular dated April 26, 2024 were
duly passed at the Annual General and Special Meeting held on June 7, 2024 (the “Meeting”).
As per the nominees set forth, Ron Hochstein, Richard P. Clark, David Field, Alessandro Bitelli, Anu Dhir and Martino De Ciccio
were elected as directors of the Company. After the Meeting the following officers were appointed by the Board of Directors:
Non-Executive Chairman Ron Hochstein
Chief Executive Officer Martino De Ciccio
President & Chief Development Officer Peder Olsen
Chief Financial Officer Glenn Kondo
Incoming Chief Financial Officer , effective
July 1, 2024
Constant Tia
Corporate Secretary Kathy Love
At the Meeting the shareholders also approved the reappointment of PricewaterhouseCoopers, LLP as the auditors of the
Company and the authorization of the Company’s Board of Directors to fix the auditors remunerations. The shareholders also
approved the Omnibus Equity Incentive Plan.
A total of 102,881,471 common shares were voted, representing 43.03% of the Company's issued and outstanding common shares
as at the record date of April 26, 2024. Detailed voting results for the 2024 Annual General Meeting are shown below and are
available on SEDAR at www.sedarplus.ca.
Actual Votes
For
Actual Votes
Withheld
Percentage
Votes For
Percentage
Votes Withheld
Appointment of Auditor 102,881,371 100 99.9999% 0.0001%
Election of Directors:
i) Richard P. Clark 102,881,471 - 100.00% 0.00%
ii) David Field 102,866,471 15,000 99.99% 0.01%
iii) Alessandro Bitelli 102,881,470 1 99.999999% 0.000001%
iv) Anu Dhir 102,866,471 15,000 99.99% 0.01%
v) Ron Hochstein 102,881,471 - 100.00% 0.00%
vi) Martino De Ciccio 102,881,471 - 100.00% 0.00%
Approval of Omnibus Equity Incentive Plan 96,803,044 6,078,427 94.09% 5.91%
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this
release.
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ABOUT MONTAGE GOLD CORP.
Montage Gold Corp. (TSXV: MAU) is a Canadian-listed company focused on becoming a premier multi-asset African gold producer,
with its flagship Koné project, located in Côte d’Ivoire, at the forefront. Based on the Feasibility Study published in 2024, the Koné
project ranks as one of the highest quality gold projects in Africa with a long 16 -year mine life, low AISC of $998/oz over its life of
mine, and sizeable annual production of +300koz of gold over the first 8 years. Over the course of 2024, the Montage management
team will be leveraging their extensive track record in developing projects in Africa to progress the Koné project towards a
construction launch, thereby unlocking significant value for all its stakeholders.
CONTACT INFORMATION
Martino De Ciccio
Chief Executive Officer
For Media Inquiries:
John Vincic, Oakstrom Advisors
+1 (647) 402 6375
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 use of proceeds from the Offering; the final acceptance of the TSX Venture Exchange; the Company’s mineral reserve and
mineral resource estimates; the timing and amount of future production from the Koné project; expectations with respect AISC of
the Koné project; anticipated mine life of the Koné p roject; and expected recoveries and grades of the Koné p roject. Forward-
looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no
assurance that such 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 the Company's
expectations include uncertainties inherent in the preparation of mineral reserve and resource estimates and definitive feasibility
studies such as the Mineral Reserve Estimate and the UFS, 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, unexpected changes to geotechnical or hydrogeological considerations, unexpected failures of plant, equipment
or processes, 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, environmental risks inherent in the Côte d’Ivoire, title risks, including failure to renew
concessions, unanticipated commodity price and exchange rate fluctuations, risks relating to COVID- 19, delays in or failure to
receive access agreemen ts or amended permits, and other risk factors set forth in the Company’s 2023 AIF 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 c ause 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.
NON-GAAP MEASURES
This press release includes certain terms or performance measures commonly used in the mining industry that are not defined
under International Financial Reporting Standards (“IFRS”), including cash costs and AISC (or “all -in sustaining costs”) per payable
ounce of gold sold and per tonne processed and mining, processing and operating costs reported on a unit basis. Non- GAAP
measures do not have any standardized meaning prescribed under IFRS and, therefore, they may not be comparable to similar
measures employed by other companies. The Company discloses “cash costs” and “all -in sustaining costs” and other unit costs
because it understands that certain investors use this information to determine the Company’s ability to generate earnings an d
cash flows for us e in investing and other activities. The Company believes that conventional measures of performance prepared
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in accordance with IFRS, do not fully illustrate the ability of mines to generate cash flows. The measures, as determined und er
IFRS, are not necessarily indicative of operating profit or cash flows from operating activities. The measures cash costs and all-in
sustaining costs and unit costs are considered to be key indicators of a project’s ability to generate operating earnings and cash
flows. Non-GAAP financial measures should not be considered in isolation as a substitute for measures of performance pre pared
in accordance with IFRS and are not necessarily indicative of operating costs, operating profit or cash flows presented under IFRS.
Readers should also refer to our management’s discussion and analysis, available under our corporate profile at www.sedarplus.ca
for a more detailed discussion of how we calculate such measures.