Mr. Peder Olsen reports

MONTAGE GOLD CLOSES STRATEGIC INVESTMENT IN AURUM RESOURCES

Montage Gold Corp. has closed its strategic investment in Aurum Resources Ltd.

The strategic investment consists of a share exchange transaction between Montage and Aurum, including the issuance to Montage of 32,887,521 fully paid ordinary shares of Aurum at deemed issue price of 35.6 Australian cents per Aurum ordinary share and the issuance to Aurum of 2,887,496 common shares of Montage at a deemed issue price of $3.61 (Canadian) per Montage common Shares Montage and Aurum have now closed the share exchange transaction. The Montage common shares issued to Aurum are subject to a four-month hold period that expires on Nov. 15, 2025.

Montage now holds a 9.9-per-cent interest in Aurum and has co-invested alongside other strategic investors, including the Lundin family and its associates, as well as Zhaojin Mining Industry Company Ltd. (through its wholly owned subsidiary, Zhaojin Capital Ltd.).

Aurum intends to use the proceeds to accelerate resource definition drilling at the Boundiali gold project and exploration drilling at its Napie gold project, in Ivory Coast, as well as to progress technical studies and permit applications.

About Montage Gold Corp.

Montage Gold is a Canadian-listed company focused on becoming a premier multiasset African gold producer, with its flagship Kone project, located in Ivory Coast, at the forefront. Based on the updated feasibility study (UFS) published in 2024, the Kone project has an estimated 16-year mine life and sizable annual production of over 300,000 ounces of gold over the first eight years and is expected to enter production in Q2 (second quarter) 2027.

Qualified person statement

The scientific and technical contents of this news release have been verified and approved by Peder Olsen, a qualified person pursuant to National Instrument 43-101. Mr. Olsen, president and chief development officer of Montage, is a registered fellow of the Australasian Institute of Mining and Metallurgy (AusIMM).

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