MONTAGE GOLD RECEIVES ENVIRONMENTAL PERMIT By Investing.com

FOR THE DEVELOPMENT OF ITS KONÃ‰ PROJECT

HIGHLIGHTS:

Montage receives Ministerial Order from the Ministry of Surroundings, Sustainable Growth and Ecological Transition of CÃ´te d’Ivoire granting the environmental allow for the event of its KonÃ© mission
The mining allow software for the KonÃ© mission has been submitted and all approvals are anticipated in H2-2024
President Alassane Ouattara of the Republic of CÃ´te d’Ivoire expressed his sturdy assist for the event of the KonÃ© mission in a press convention held on Could 2, 2024

ABIDJAN, CÃ´te d’Ivoire, Could 9, 2024 /PRNewswire/ – Montage Gold Corp. (“Montage” or the “Company”) (TSXV: MAU) (OTCQX: MAUTF) is happy to announce that it has obtained a signed Ministerial Order from the Ministry of the Surroundings, Sustainable Growth and Ecological Transition of CÃ´te d’Ivoire (the “MoE”) granting the environmental approvals vital for the event of its KonÃ© mission (the “Environmental Permit”). As well as, Montage has submitted the mining allow purposes for the KonÃ© mission and anticipates receiving all vital approvals throughout H2-2024.

Previous to receiving the Environmental Allow, Montage staff members had been obtained by President Alassane Ouattara of the Republic of CÃ´te d’Ivoire at a ceremony in Abidjan, throughout which the President reiterated the nation’s assist for the mining sector and the development of the KonÃ© mission given the optimistic advantages it could actually generate for all stakeholders.

Martino De Ciccio, CEO of Montage, commented: “We are very pleased with the significant progress being made to advance our KonÃ© project towards a construction launch, with significant support received from local stakeholders, lenders, and shareholders. The receipt of the environmental permit marks a significant milestone in our permitting process and reflects the strong support received from numerous government agencies and local communities.

Furthermore, we were honored to recently be received by President Alassane Ouattara of the Republic of CÃ´te d’Ivoire at a ceremony in Abidjan, during which the President reiterated the country’s support for the mining sector and the advancement of the KonÃ© project given the positive benefits it can generate for all stakeholders. It was an opportunity to reiterate our goal of becoming the partner of choice for stakeholders by leveraging our win-win approach focused on local content.

We look forward to continuing to build on the momentum created across our business to progress our strategy of creating a premier African gold producer, beginning in CÃ´te d’Ivoire given the country’s highly favourable investment climate, significant geological potential, and our extensive experience in the region.”

ESIA Validation and Mining Allow Functions

Montage ready the ESIA for the KonÃ© mission throughout 2023, based mostly upon the mission design as outlined within the up to date Feasibility Research revealed on January 16, 2024 (the “UFS”). Montage labored carefully together with the Cupboard d’Etudes Conseils d’Help et de Formation de CÃ´te d’Ivoire (“CECAF”), an impartial environmental consultancy agency which led the preparation the ESIA to make sure compliance with all relevant environmental requirements previous to its submission. The finished ESIA was submitted to the Agence Nationale de l’Environnement of CÃ´te d’Ivoire (“ANDE”) in December 2023. ANDE is the environmental division of the MoE and is chargeable for monitoring the compliance of tasks and actions with environmental requirements.

On March 13, 2024, the validation listening to was held, throughout which the ESIA was authorized by a fee comprised of quite a few authorities businesses, together with:

the Ministry of Mines, Petroleum and Power;
the Ministry of Surroundings, Sustainable Growth and Ecological Transition (together with the Ivorian Anti-Air pollution Centre);
the Ministry of Water and Forest;
the Ministry of Well being and Public Hygiene;
the Ministry of Inside and Safety (together with the Nationwide Workplace for Civilian Projection);
the Ministry of Gear and Highway Upkeep;
the Ministry of Agriculture;
the Ministry of Transport; and
the Ministry of Economic system and Finance

As well as, varied authorities representatives from the Prefets and sous-Prefets, and close by village representatives had been current. Throughout the listening to the ESIA was authorized, topic to solely minor variations all of which have been addressed by Montage together with CECAF. On April 8, 2024, CECAF submitted the revised ESIA report back to ANDE, which has been authorized by the MoE in a signed Ministerial Order dated Could 7, 2023.

The Ministerial Order for the Environmental Allow contains approval for in-pit tailings disposal, a greatest observe within the mining business, making KonÃ© the primary mine to obtain this approval in CÃ´te d’Ivoire.

With the Environmental Allow obtained, Montage has lodged its mining allow purposes (“MPA”) with the Path GÃ©nÃ©rale des Mines et de la GÃ©ologie (“DGMG”) and expects to obtain all vital permits and approvals for the development of the KonÃ© mission throughout H2-2024.

The MPA submissions cowl a complete space of 357.5 sq.km (Determine 2, 103.4 sq.km at KonÃ© and 254.1 sq.km at Gbongogo) and encompasses the KonÃ© deposit, the Gbongogo Predominant deposit, a 35km haulage hall, together with adequate land space for all plant and associated floor infrastructure for growth of the mine.

Neither TSX Enterprise Change nor its Regulation Companies Supplier accepts accountability for the adequacy or accuracy of this launch.

ABOUT MONTAGE GOLD CORP.

Montage Gold Corp. (TSXV: MAU) is a Canadian-listed firm centered on turning into a premier multi-asset African gold producer, with its flagship KonÃ© mission, positioned in CÃ´te d’Ivoire, on the forefront. Primarily based on the Feasibility Research revealed in 2024, the KonÃ© mission ranks as one of many highest high quality gold tasks in Africa with a protracted 16-year mine life, low AISC of $998/oz over its lifetime of mine, and sizeable annual manufacturing of +300koz of gold over the primary 8 years. Over the course of 2024, the Montage administration staff can be leveraging their in depth observe file in creating tasks in Africa to progress the KonÃ© mission in the direction of an funding choice, thereby unlocking important worth for all its stakeholders.

TECHNICAL DISCLOSURE

The KonÃ© and Gbongogo Predominant Mineral Useful resource Estimates had been carried out by Mr. Jonathon Abbott of Matrix Useful resource Consultants of Perth, Western Australia, who is taken into account to be impartial of Montage Gold. Mr. Abbott is a member in good standing of the Australian Institute of Geoscientists and has adequate expertise which is related to the commodity, fashion of mineralization into account and exercise which he’s endeavor to qualify as a Certified Particular person underneath NI 43“101.

The Mineral Reserve Estimate was carried out by Ms. Joeline McGrath of Carci Mining Consultants Ltd., who is taken into account to be impartial of Montage Gold. Ms. McGrath is a member in good standing of the Australian Institute of Mining and Metallurgy and has adequate expertise which is related to the work which she is endeavor to qualify as a Certified Particular person underneath NI 43“101.

For additional particulars of the information verification undertaken, exploration undertaken and related QA/QC applications, and the interpretation thereof, and the assumptions, parameters and strategies used to develop the Mineral Reserve Estimate for the KonÃ© Gold Challenge, please see the UFS, entitled “KonÃ© Gold Project, CÃ´te d’Ivoire Updated Feasibility Study National Instrument 43-101 Technical Report” and filed on SEDAR+ at www.sedarplus.ca. Readers are inspired to learn the UFS in its entirety, together with all {qualifications}, assumptions and exclusions that relate to the small print summarized on this information launch. The UFS is meant to be learn as an entire, and sections shouldn’t be learn or relied upon out of context.

QUALIFIED PERSONS STATEMENT

The scientific and technical contents of this press launch have been authorized by Hugh Stuart, BSc, MSc, a Certified Particular person pursuant to NI 43-101. Mr. Stuart is the President and a Director of the Firm, a Chartered Geologist and a Fellow of the Geological Society of London.

FORWARD LOOKING STATEMENTS

This press launch comprises sure forward-looking info and forward-looking statements throughout the that means of Canadian securities laws (collectively, “Forward-looking Statements”). All statements, aside from statements of historic truth, represent Ahead-looking Statements. Phrases akin to “will”, “intends”, “proposed” and “expects” or related expressions are supposed to determine Ahead-looking Statements. Ahead trying Statements on this press launch embrace statements associated to the usage of proceeds from the Providing; the ultimate acceptance of the TSX Enterprise Change; the Firm’s mineral reserve and mineral useful resource estimates; the timing and quantity of future manufacturing from the KonÃ© Gold Challenge; expectations with respect AISC of the KonÃ© Gold Challenge; anticipated mine lifetime of the KonÃ© Gold Challenge; and anticipated recoveries and grades of the KonÃ© Gold Challenge. Ahead-looking Statements contain varied dangers and uncertainties and are based mostly on sure elements and assumptions. There could be no assurance that such statements will show to be correct, and precise outcomes and future occasions might differ materially from these anticipated in such statements. Vital elements that might trigger precise outcomes to vary materially from the Firm’s expectations embrace uncertainties inherent within the preparation of mineral reserve and useful resource estimates and definitive feasibility research such because the Mineral Reserve Estimate and the UFS, together with however not restricted to, assumptions underlying the manufacturing estimates not being realized, incorrect value assumptions, surprising variations in amount of mineralized materials, grade or restoration charges, surprising modifications to geotechnical or hydrogeological concerns, surprising failures of plant, tools or processes, surprising modifications to availability of energy or the ability charges, failure to take care of permits and licenses, increased than anticipated curiosity or tax charges, antagonistic modifications in mission parameters, unanticipated delays and prices of consulting and accommodating rights of native communities, environmental dangers inherent within the CÃ´te d’Ivoire, title dangers, together with failure to resume concessions, unanticipated commodity worth and trade charge fluctuations, dangers regarding COVID-19, delays in or failure to obtain entry agreements or amended permits, and different danger elements set forth within the Firm’s 2022 AIF underneath the heading “Risk Factors”. The Firm undertakes no obligation to replace or revise any Ahead-looking Statements, whether or not on account of new info, future occasions or in any other case, besides as could also be required by legislation. New elements emerge on occasion, and it’s not potential for Montage to foretell all of them, or assess the impression of every such issue or the extent to which any issue, or mixture of things, could trigger outcomes to vary materially from these contained in any Ahead-looking Assertion. Any Ahead-looking Statements contained on this press launch are expressly certified of their entirety by this cautionary assertion.

NON-GAAP MEASURES

This press launch contains sure phrases or efficiency measures generally used within the mining business that aren’t outlined underneath Worldwide Monetary Reporting Requirements (“IFRS”), together with money prices and AISC (or “all-in sustaining costs”) per payable ounce of gold bought and per tonne processed and mining, processing and working prices reported on a unit foundation. Non-GAAP measures would not have any standardized that means prescribed underneath IFRS and, due to this fact, they is probably not corresponding to related measures employed by different firms. The Firm discloses “cash costs” and “all-in sustaining costs” and different unit prices as a result of it understands that sure buyers use this info to find out the Firm’s capacity to generate earnings and money flows to be used in investing and different actions. The Firm believes that standard measures of efficiency ready in accordance with IFRS, don’t absolutely illustrate the power of mines to generate money flows. The measures, as decided underneath IFRS, will not be essentially indicative of working revenue or money flows from working actions. The measures money prices and all-in sustaining prices and unit prices are thought-about to be key indicators of a mission’s capacity to generate working earnings and money flows. Non-GAAP monetary measures shouldn’t be thought-about in isolation as an alternative to measures of efficiency ready in accordance with IFRS and will not be essentially indicative of working prices, working revenue or money flows offered underneath IFRS. Readers must also confer with our administration’s dialogue and evaluation, accessible underneath our company profile at www.sedarplus.ca for a extra detailed dialogue of how we calculate such measures.