Mr. Don Dudek reports

ALLIED GOLD ADVANCES WET COMMISSIONING AT KURMUK AS PLANT NEARS FIRST GOLD

Allied Gold Corp. has provided an update on its Kurmuk mine in Ethiopia as it advances toward production start-up. The Kurmuk mine is a cornerstone of Allied's production and cash flow growth, delivering a significant increase in production at attractive operating costs while enhancing the scale, quality and longevity of the company's portfolio.

Highlights:

• Mining and stockpiles on plan: Mining continues to progress well, with mining grades in line with expectations. Ore stockpiles are close to the planned level of approximately three months of plant feed ahead of the November ramp-up.
• Crushing and supporting infrastructure complete: The crushing circuit is operating well, and the crushed ore stockpile continues to build, providing operational flexibility for a smooth ramp-up. Process support systems and infrastructure are complete.
• Wet commissioning under way: Water transfer from the main water storage dam into the processing plant has commenced, allowing the processing circuits to be progressively wet commissioned and tested ahead of ore feed. SAG (semi-autogenous grinding) mill and ball mill drives are energized, with testing and commissioning nearing completion.
• Ore feed and first gold: Ore is expected to be introduced into the circuit this week, with first gold targeted soon thereafter. Mine and plant infrastructure is complete, including the water storage facility, tailings storage facility, main access road and mining service areas, among others, supporting readiness for production ramp-up toward commercial production this year and strong first quarter and full-year production next year.
• Ramp-up production outlook: Production is expected to increase through November and December, with total production of between 25,000 to 35,000 gold ounces and commercial production expected during this period. Production in Q1 2027 is expected to increase sequentially month over month, with quarterly production of 55,000 to 65,000 gold ounces and a monthly average production of approximately 20,000 gold ounces.
• Production outlook: Production guidance for 2027 remains in the range of 240,000 to 270,000 gold ounces, with the production outlook of approximately 300,000 gold ounces in 2028. For the first four full years of operations, average annual production is expected to be approximately 300,000 gold ounces.
• Exploration advancing toward a longer production profile: Recent exploration results at Ashashire, Dish Mountain and the Tsenge trend, reported on Oct. 6, 2026, continue to advance the objective of sustaining average annual production of approximately 300,000 gold ounces beyond the initial first four years of operations as well as increasing mine life and overall mineral inventory.
• Agreement with local stakeholders: The company has reached an agreement with local stakeholders, including artisanal miners active in certain parts of the exploration licences, to advance exploration co-operatively into new prospective areas while supporting local communities. This agreement is expected to drive the advancement of new targets across the broader Kurmuk property and contribute to the company's longer-term objectives for mineral inventory growth and mine life extension. Together, the continuing exploration program within the mining licence area and expanded access to prospective areas support Allied's objective of establishing Kurmuk as a long-life gold mining operation with strong, sustained annual production at attractive operating costs.

Third quarter 2026 financial results

Allied expects to release its third quarter 2026 financial and operating results after market close on Wednesday, Nov. 4, 2026. The company will host a conference call and webcast to discuss the results on Thursday, Nov. 5, 2026, at 9 a.m. ET.

Third quarter 2026 conference call

Toll-free dial-in number (Canada/United States):  1-800-715-9871

Toll-free dial-in number (United Kingdom):  44-800-260-6466

Participant passcode:  7077347

Webcast:  on the Allied Gold website

The webcast replay will be available shortly after the call ends.

Qualified person

Except as otherwise disclosed, all scientific and technical information contained in this press release has been reviewed and approved by Sebastien Bernier, PGeo (senior vice-president, technical services), a qualified person as defined by National Instrument 43-101. Exploration information referred to in this press release was previously reported on Oct. 6, 2026, and was reviewed and approved by Don Dudek, PGeo, chief exploration officer, a qualified person as defined by NI 43-101.

About Allied Gold Corp.

Allied Gold is a Canadian-based gold producer with a significant growth profile and mineral endowment that operates a portfolio of three producing assets and development projects located in Ivory Coast, Mali and Ethiopia. Led by a team of mining executives with operational and development experience and proven success in creating value, Allied Gold aspires to become a next-generation mid-tier gold producer in Africa and ultimately a leading senior global gold producer.

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