An anonymous director reports

MONTAGE GOLD UPSIZES NON-BROKERED FINANCING TO C$35 MILLION

Montage Gold Corp.'s non-brokered private placement financing announced on Feb. 22, 2024, has been increased to 50 million common shares of the company at a price of 70 cents per common share for gross proceeds of $35-million.

The net proceeds of the offering will be used for exploration and development expenditures at the company's Kone gold project and for working capital and general corporate purposes.

The offering is expected to close during the week of March 11, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the acceptance of the TSX Venture Exchange. The common shares issued pursuant to the offering are subject to a four-month hold period under applicable Canadian securities laws commencing on the closing date of the offering.

About Montage Gold Corp.

Montage is a Canadian-based precious metals exploration and development company focused on opportunities in Ivory Coast. The company's flagship property is the Kone gold project, located in northwest Ivory Coast, which currently hosts a Probable mineral reserve of 174.3 million tonnes grading 0.72 gram per tonne for 4.01 million ounces of gold. The company released the results of an updated feasibility study on the Kone gold project on Jan. 16, 2024, outlining a 16-year gold project producing 3.57 million ounces of gold at all-in sustaining cost of $998 per ounce over the life of mine, with average annual production of 223,000 oz, and peak annual production of 378,000 oz. Montage has a management team and board with significant experience in discovering and developing gold deposits in Africa.

Technical disclosure

the Kone and Gbongogo main mineral resource estimates were carried out by Jonathon Abbott of Matrix Resource Consultants of Perth, Western Australia, who is considered to be independent of Montage Gold. Mr. Abbott is a member in good standing of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the commodity, style of mineralization under consideration and activity which he is undertaking to qualify as a qualified person under National Instrument 43-101.

The mineral reserve estimate was carried out by Joeline McGrath of Carci Mining Consultants Ltd., who is considered to be independent of Montage Gold. Ms. McGrath is a member in good standing of the Australian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the work which she is undertaking to qualify as a qualified person under NI 43-101.

Qualified person statement

The scientific and technical contents of this press release have been approved by Hugh Stuart, BSc, MSc, a qualified person pursuant to NI 43-101. Mr. Stuart is the president and a director of the company, a chartered geologist, and a fellow of the Geological Society of London.

We seek Safe Harbor.