Majestic GOLD Corp. Announces 2025 Q3 Results
MAJESTIC GOLD CORP. ANNOUNCES 2025 Q3 RESULTS
Vancouver, British Columbia – November 28, 2025 - Majestic Gold Corp. (“Majestic” or the “Company”)
(TSX.V: MJS, FSE: A0BK1D) announces its financial and operational results for the nine months ended
September 30, 2025. The following financial results are expressed in US dollars unless otherwise stated.
FINANCIAL AND OPERATIONAL HIGHLIGHTS
Nine months ended September 30, 2025
• Revenue was $63.7 million, a 22.5% increase over the $52 million in revenue for the FY2024 comparative
period;
• Gross profit from operations was $33 million, a 19.9% increase over the $27.6 million in gross profit for
the FY2024 comparative period;
• Net income was $15.2 million, a 9.7% decrease over the $16.9 million in net income for the FY2024
comparative period;
• Cash flow from operating activities was $17.6 million, a 8.8% decrease over the $19.3 million for the
FY2024 comparative period;
• Gold production was 22,643 ounces, a 6.3% decrease over the 24,170 ounces produced for the FY2024
comparative period;
• Strong financial position at September 30, 2025. The Company had cash and cash equivalents of $104.6
million (FYE2024 - $100.7 million) and working capital of $68 million (FYE2024 - $86.3 million);
• Adjusted EBITDA was $32.7 million, compared to $28.7 million for the same period in FY2024. For
EBITDA computation details, refer to pages 19-21 of the MD&A for this Non-IFRS financial measure;
• Total cash costs and all -in sustaining costs (“AISC”) were $1,153 per ounce and $1,47 4 per ounce,
compared to $841 per ounce and $1,007 per ounce for the same period in FY2024. For AISC computation
details, refer to pages 19-21 of the MD&A for this Non-IFRS financial measure; and
• On October 14, 2025, the Company’s Hong Kong Stock Exchange listed subsidiary, Persistence Resources
Group Ltd. (Stock Code: 2489), completed a private placement financing for gross proceeds of HKD$472
million (approximately CAD$85.2 million) by way of issuance of 400 million shares at a is suance price
HKD$1.18 per share (approximately CAD$0.213 per Share). Persistence Resources Group Ltd Chad a recent
closing share price of HKD$1.31 (~CAD$0.228) for a market capitalization of HKD$3.14B (CAD$546.44M).
306 - 1688 152nd Street
Surrey, British Columbia
Canada, V4A 4N2
Telephone: 604-560-9060
Facsimile: 604-560-9062
Email: [email protected]
SELECTED QUARTERLY AND FULL YEAR FINANCIAL AND OPERATING RESULTS
Three months ended September 30, Nine months ended September 30,
2025 2024 2025 2024
Operating data
Gold produced (ozs) 6,764 7,963 22,643 24,170
Gold realized net of smelting fees (ozs) 6,293 7,348 20,633 21,935
Gold sold (ozs) 6,112 7,333 20,399 22,256
Average realized gold price ($/oz sold) $ 3,375 $ 2,477 $ 3,084 $ 2,309
Total cash costs ($/oz sold) (1) 1,194 952 1,153 841
All-in sustaining costs ($/oz sold) (1) 1,660 1,107 1,474 1,007
Financial data
Gold revenue $ 20,924,206 $ 18,348,545 $ 63,664,250 $ 51,965,823
Gross profit (2) 10,962,591 9,507,167 33,035,363 27,557,698
Adjusted EBITDA (1) 10,626,610 9,812,228 32,702,142 28,702,449
Net income 5,163,126 5,773,370 15,223,792 16,862,618
Net income attributable to shareholders 2,687,105 3,049,255 6,886,384 8,583,919
Basic and diluted income per share 0.00 0.00 0.01 0.01
September 30,
2025 December 31,
2024
Balance Sheet
Cash and cash equivalents $ 104,633,881 $ 100,738,547
Other current assets 11,699,104 5,118,569
Non-current assets 158,302,624 82,068,419
Total assets $ 274,635,609 $ 187,925,535
Current liabilities $ 48,300,084 $ 19,536,163
Non-current liabilities 41,685,879 8,670,704
Total liabilities $ 89,985,963 $ 28,206,867
Total equity 184,649,646 159,718,668
Total liabilities and equity $ 274,635,609 $ 187,925,535
(1) See “Additional Financial Measures” in the Company’s MD&A on pages 19-21.
(2) “Gross profit” represents total revenues, net of cost of goods sold.
This release should be read in conjunction with the Company’s audited consolidated financial statements for the
years ended December 31, 2024 and associated Management Discussion and Analysis (“MD&A”) which are
available on SEDAR www.sedarplus.ca and on the Company’s website www.majesticgold.com.
About Majestic Gold
Majestic Gold Corp., a British Columbia based company, is a low-cost junior gold producer engaged in commercial
gold production in eastern Shandong Province, China, with mining operations at its Songjiagou Gold Mine s, its
flagship project, and the Mujin Gold Project. Additional information on the Company and its projects is available
at www.sedarplus.ca and on the Company’s website at www.majesticgold.com.
For further information, please contact:
James Mackie, CFO and Corporate Secretary
Telephone: (604) 560-9060
Email: [email protected]
Website: www.majesticgold.com
Cautionary Notes
Certain statements contained herein may constitute forward‐looking statements and are made pursuant to the "safe
harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws.
Forward‐looking statemen ts are statements which relate to future events. Such statements include estimates,
forecasts, and statements as to management's expectations with respect to, among other things, business and
financial prospects, financial multiples and accretion estimates , future trends, plans, strategies, objectives, and
expectations, including with respect to production, exploration drilling, reserves and resources, exploitation activities
and events or future operations. Information inferred from the interpretation of drilling results and information
concerning mineral resource estimates may also be deemed to be forward -looking statements, as it constitutes a
prediction of what might be found to be present when, and if, a project is actually developed.
In some cases, you can identify forward‐looking statements by terminology such as "may", "should", "expects", "plans,
"anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other
comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties
and other factors that may cause our or our industry's actual results, level of activity, performance, or achievements
to be materially different from any future r esults, levels of activity, performance, or achievements expressed or
implied by these forward‐looking statements.
While these forward‐looking statements, and any assumptions upon which they are based, are made in good faith,
and reflect our current judgment regarding the direction of our business, actual results will almost always vary,
sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance
suggestions herein. Except as required by applicable law, Majestic Gold does not intend to update any forward‐
looking statements to conform these statements to actual results