Montage GOLD Closes Second Tranche of Investment IN African GOLD
Press
Release
montagegold.com 1
MONTAGE GOLD CLOSES SECOND TRANCHE OF INVESTMENT IN AFRICAN GOLD
Vancouver, Canada — June 12, 2025 — Montage Gold Corp. (“Montage” or the “Company”) (TSX: MAU, OTCQX: MAUTF) is
pleased to announce the closing of the second tranche of its previously announced strategic investment in African Gold Limited
(“African Gold”) (ASX:A1G).
The strategic partnership consists of a share exchange transaction between Montage and African Gold (the “Share Exchange
Transaction”) including the issuance to Montage of 92,377,787 fully paid ordinary shares of African Gold (“African Gold Ordinary
Shares”) at deemed issue price of A$0.07 per African Gold Ordinary Share, and the issuance to African Gold of 2,026,388 common
shares of Montage (“Montage Common Shares”) at a deemed issue price of C$2.87 per Montage Common Share. Montage and
African Gold have closed Tranche 2 of the Share Exchange Transaction resulting in the issuance 46,358,146 African Gold Ordinary
Shares to Montage, and the issuance to African Gold of 1,016, 907 Montage Common Shares. The Montage Common Shares
issued to African Gold are subject to a 4-month hold period that expires on October 13, 2025.
In conjunction with closing the second tranche of investment in African Gold, Montage has entered into a technical services
agreement with African Gold in relation to the management of operations at the Didievi Project, as well as a project rights
agreement under which Montage is granted a right of first refusal in respect of African Gold's rights and interests in relation to
the Didievi Project and adjacent Angoda Permit, including a right to acquire the minority interests in the Didievi Project up on
any future exercise of African Gold's existing right of first refusal.
ABOUT MONTAGE GOLD
Montage Gold Corp. (TSX: 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 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 Q2-2027.
QUALIFIED PERSONS STATEMENT
The scientific and technical contents of this press release have been verified and approved by Mr. Peder Olsen, a Qualified Person
pursuant to NI 43-101. Mr. Olsen, President and Chief Development Officer of Montage, is a registered Fellow of the Australasian
Institute of Mining and Metallurgy (AusIMM).
CONTACT INFORMATION
For Investor Relations Inquiries:
Jake Cain
Strategy & Investor Relations Manager
+44-7788-687-567
For Media Inquiries:
John Vincic
Oakstrom Advisors
+1-647-402-6375
For Regulatory Inquiries:
Kathy Love
Corporate Secretary
+1-604-512-2959
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 Company’s objectives of becoming a premier multi-asset producer; the timing and amount of future production from the
Koné Gold Project; anticipated mine life of the Koné Gold Project.
TSX MAU OTCQX MAUTF
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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
the Company's expectations include uncertainties inherent in the preparation of mineral reserve and resource estimates and
definitive feasibility studies such as the UFS, including but not limited to, assumptions underlying the production estimates n ot
being realized, incorrect cost assumptions, unexpected variations in quantity of mineralized material, grade or recovery rate s
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, environmental risks
inherent in the Côte d’Ivoire, title risks, including failure to renew concessions, unanticipated commodity price and exchang e
rate fluctuations, delays in or failure to receive access agreements or amended permits, and other risk factors set forth in the
Company’s 2024 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 Sta tement. Any Forward -looking Statements
contained in this press release are expressly qualified in their entirety by this cautionary statement.