An anonymous director reports

NEMESIA S.A R.L. ACQUIRES COMMON SHARES OF MONTAGE GOLD CORP

Nemesia sarl, a private company controlled by trusts settled by the late Adolf H. Lundin, incorporated under the laws of Luxembourg, and residing at 40 Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, Charlotte, L-1330 Luxembourg, had, pursuant to a non-brokered private placement (PP) which was announced by Montage Gold Corp. in its press releases dated on Feb. 22 and Feb. 23, 2024, and closed on March 12, 2024, acquired ownership and control of 25 million common shares of Montage Gold at 70 cents for an aggregate subscription price of $17.5-million.

Prior to the offering, Nemesia owned 17,743,145 common shares or approximately 9.57 per cent of the then issued and outstanding common shares of the company. The acquisition of 25 million common shares by Nemesia now brings the total holdings by Nemesia to 42,743,145 common shares or approximately 18.14 per cent of the issued and outstanding common shares post PP.

Nemesia has acquired the common shares of Montage Gold for investment purposes. Nemesia may from time to time increase or decrease its investment in the common shares of Montage Gold depending upon the business and prospects of the company and depending upon future market conditions.

A copy of the early warning report to be filed pursuant to National Instrument 62-103 may be obtained from Sandy Kansky, 1-604-689-7842.