Mr. Daniel Misiano reports

DYNACOR COMMENCES PROCESSING FIRST ORE AT PILOT PLANT IN SENEGAL

Ore production from Dynacor Group Inc.'s Galam pilot plant in the Kedougou region of southeastern Senegal has commenced, in line with its schedule.

Highlights

• Pilot plant over 95 per cent complete.
• Commissioning of the laboratory and front-end process plant is complete, and both are in use.
• Hot commissioning activities are ongoing in the main process areas, including the grinding, leaching, gold refining and Merrill Crowe circuits.
• An initial stockpile of gold-bearing ore has been built from local suppliers, in line with the company's start-up target.
  • Purchasing of ore from additional supplier groups will continue in August.
• Initial plant operator and maintenance positions are being filled.
• On track for first gold pour in August.
• The tailings storage facility (TSF) cell has been lined and is operational.

Daniel Misiano, president and chief executive officer of Dynacor, commented: "We are excited to highlight Galam's move from construction to commissioning. This is a significant achievement and a testament to the experience of the Dynacor team. So far, commissioning is proceeding to plan. When fully ramped up, Galam will act as a blueprint for future commercial plants in Africa, which is expected to be the key driver of our expansion strategy.

"Furthermore, rehabilitation of the Svetlana plant in Ecuador continues advancing towards our targeted Q4 2026 restart. With ongoing strong core operations and both new plants on schedule, we are poised for a strong second half of the year."

Advancing Ecuador plant upgrade to plan

Rehabilitation work on the Svetlana processing plant continues to advance across the following key operational areas:

• Overall rehabilitation of the plant has reached about 40 per cent completion.
• Crushing circuit -- Rehabilitation of the primary raw material feed and crushing circuit is 50 per cent complete. Remaining work includes upgrade of the cone crusher and hydraulic feeder, in addition to replacement of conveyor belts, chute lining and pulley systems.
• Milling area -- Rehabilitation of the ball mill and supporting infrastructure is over 60 per cent complete. Work includes upgrade of the release motor and pinion bearings, and alignment of the girth gear and pinions.
• Electrical/power systems -- Installation of electrical substation transformers and rehabilitation of cabling for key equipment is progressing.
• Leaching area -- Rehabilitation of the leaching tanks including baffle replacement and air-slurry redesign is almost halfway complete.
• Purchasing -- Most replacement pieces of equipment have been secured.
• Tailings -- A geotechnical review and laboratory testing of the working tailings pond is continuing.
• Laboratory -- Assessment of the laboratory is ongoing with a view to its rehabilitation and installation of Atomic Absorption Spectroscopy (AAS) equipment.
• Permitting -- Dynacor has submitted its application for an investment protection agreement to the government of Ecuador and is advancing its commercialization permit. All permits are on track for Q4 2026.

About Dynacor Group Inc.

Dynacor Group is an ore processing company dedicated to producing gold sourced from artisanal miners. Since its establishment in 1996, Dynacor has pioneered a responsible mineral supply chain with stringent traceability and audit standards for the fast-growing artisanal mining industry. By focusing on formalized miners, the Canadian company offers a win-win approach for governments and miners globally. Dynacor operates the Veta Dorada plant and owns a gold exploration property in Peru. The company is expanding to West Africa and within Latin America.

The premium paid by luxury jewellers for Dynacor's PX Impact gold goes to Fidamar Foundation, an NGO (non-government organization) that mainly invests in health and education projects for artisanal mining communities in Peru.