Montage GOLD Exercises Participation Rights IN SANU GOLD
Press
Release
montagegold.com 1
MONTAGE GOLD EXERCISES PARTICIPATION RIGHTS IN SANU GOLD
Vancouver, Canada — April 14, 2025 — Montage Gold Corp . (“Montage” or the “Company”) (TSXV: MAU, OTCQX: MAUTF) is
pleased to announce that it has exercised its participation right to maintain its equity interest in Sanu Gold Corporation (“Sanu”)
(CSE:SANU; OTCQB:SNGCF) following Sanu’s non-brokered private placement as announced on March 25, 2025 (the
“Placement”).
As a result, Montage has been issued 7,664,294 common shares of Sanu at a price of C$0.28 per share, paid for by way of the
issuance of 848,222 common shares of Montage at a deemed price of C$2.53 per share, representing the 30 -day VWAP at the
time of Sanu’s announcement of the Placement, for a deemed consideration of approximately C$2.1 million, resulting in a 19.5%
ownership in Sanu. Montage has rights to top up its equity interest to 19.9% of Sanu Gold in a future financing. Montage shares
were issued to Sanu under an exemption from the prospectus requirements of applicable Canadian securities laws and will be
subject to a hold period of four months and one day from the date of issuance to Sanu. Any Sanu sale of Montage shares will be
subject to certain notice rights to enable Montage Gold to designate a suitable purchaser(s), subject to the Investor Rights
Agreement Threshold, as described in the Company’s press release dated December 1, 2024.
AngloGold Ashanti plc and the Lundin Family and their associates have also participated in the Placement to largely maintain
each of their respective pro rata equity interests in the Company, of approximately 10.0% and 10.0%, respectively.
The net proceeds from the Placement will be allocated by Sanu to further exploration efforts, including ground geophysics and
the expansion of drilling programs on Sanu’s Daina and Diguifara Gold Exploration Permits in Guinea, West Africa, as well as the
Bantabaye Exploration Permit. Additionally, funds may support the acquisition of potential new exploration permits and will
provide general working capital for Sanu.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
TSX.V MAU OTCQX MAUTF
montagegold.com 2
ABOUT MONTAGE GOLD
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 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 related to Montage have been verified and approved by Silvia Bottero,
BSc, MSc, a Qualified Person pursuant to NI 43 -101. Mrs. Bottero, EVP Exploration of Montage, is a registered Professional
Natural Scientist with the South African Council for Natural Scientific Professions (SACNASP), a member of the Geological Society
of South Africa and a Member of 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 inc lude statements related
to the activities and results of an exploration activities, the Company’s objectives of achieving first gold pour in the second
quarter of 2027; the Company’s mineral reserve and resource estimates; the timing and amount of future production from the
Koné Gold Project; anticipated mining and processing methods of the K oné Gold Project; anticipated mine life of the Koné Gold
Project.
Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There is
no assurance that any economic satellite deposits will be discovered, and if discovered ever developed or mined. 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 Mineral Reserve Estimate and the UFS, and in delineating new mineral reserve and
resource estimates, 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 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 constru ction 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, unanticipat ed
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, delays in or
failure to receive access agreements or amended permits and other risk factors set forth in the Company’s 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 infor mation, 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 t he
impact of each such factor or the extent to which any factor, or combinatio n of factors, may cause 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.