Mr. Jake Cain reports

MONTAGE GOLD ANNOUNCES THAT AFRICAN GOLD SECURITYHOLDERS HAVE VOTED IN FAVOUR OF THE PROPOSED TRANSACTION

Shareholders and optionholders of African Gold Ltd. have voted in favour of the schemes of arrangement in relation to the proposed transaction between Montage Gold Corp. and African Gold.

Pursuant to the transaction announced on Nov. 28, 2025, Montage proposed to acquire 100 per cent of the shares of African Gold under the share scheme arrangement and for all of the outstanding options in African Gold to be cancelled in exchange for the issue of new Montage options under the related option scheme of arrangement.

The voting results satisfy two of the key remaining conditions precedent of the schemes as set out in the scheme implementation deed. The schemes remain subject to approval by the Supreme Court of Western Australia at a hearing scheduled for Friday, April 17, 2026, and certain other customary conditions precedent as previously announced and described in the scheme booklet released by African Gold to the Australian Securities Exchange on March 6, 2026 (scheme booklet). If the court approves the schemes and the schemes become legally effective, implementation of the schemes are expected to occur on or around April 29, 2026.

The anticipated timeline is set out in the attached table.

All dates are indicative only and are subject to, among other things, the satisfaction (or, where applicable, waiver) of the remaining conditions precedent under the scheme implementation deed entered into by Montage and African Gold on Nov. 28, 2025. For further details and for any changes to the above timetable, please refer to African Gold's communications.

About Montage Gold Corp.

Montage Gold is a Canadian-listed company focused on becoming a premier African gold producer, with its flagship Kone project, located in Ivory Coast, at the forefront. Based on the updated feasibility study published in 2024 (the UFS), the Kone project has an estimated 16-year mine life and sizeable annual production of 300,000 plus ounces of gold over the first eight years and is expected to enter production in late Q4 2026.

Qualified persons statement

The scientific and technical contents of this press 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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