ABIDJAN, Côte d’Ivoire — January 19, 2026 — Leads & Copy — Montage Gold Corp. (TSX: MAU, OTCQX: MAUTF) is rapidly advancing construction at its Koné project in Côte d’Ivoire, with the first gold pour through the oxide circuit anticipated in late Q4-2026.
Over 7.2 million construction hours have been logged, with more than 3,000 employees and contractors on-site. Key achievements include the erection of all 14 CIL tanks, completion of the oxide sizer, and the delivery of the ball mill shell to the site.
Approximately $545 million of capital has been committed, representing about 63% of the total upfront capital expenditure, with prices aligning with expectations. The hard-rock comminution circuit is on schedule for completion in Q2-2027.
In 2025, Montage Gold drilled approximately 115,000 meters, exceeding its initial budget of 90,000 meters. The company anticipates publishing updated Mineral Resource Estimates in Q1-2026 for several satellite targets, along with updated resources for the Koné and Gbongogo Main deposits.
An initial $16 million drill program for 2026 has been launched, comprising 90,000 meters of drilling at the Koné project and 9,000 meters for the Wendé advanced greenfield property.
CEO Martino De Ciccio said the company is pleased with the momentum in creating a premier multi-asset African gold producer. He noted key milestones achieved, including the completion of the oxide sizer and delivery of the ball mill shell. He added that the company is continuing to enjoy exploration success at the Koné project due to the discovery of higher-grade satellites.
Peder Olsen, President and Chief Development Officer, reported that construction activities are progressing rapidly, with key milestones achieved several months early. The delivery of the ball mill shell marks a critical milestone.
Other completed workstreams include site water storage infrastructure and the resettlement village. Key workstreams such as the HDPE lining of the TSF and grid connection are well advanced. The resettlement village was completed in November 2025 and officially inaugurated with more than 1,000 people attending the opening ceremony.
The 2026 exploration program will focus on infill and extension drilling of previously delineated starter deposits; advancing pre-resource targets toward maiden resource definition; and testing new targets across the project’s land package. In late 2025, the Company was awarded the Wendé greenfield advanced exploration property, with exploration activities set to soon commence with a budget of 9,000 meters.
Upcoming catalysts include Koné deposit infill drilling and grade control results in Q1-2026; updated Mineral Resources Estimates incorporating 2025 drilling data; ongoing results for the 2026 exploration program; and the target first gold pour in late Q4-2026.
Contact Information:
Jake Cain
Strategy & Investor Relations Manager
jcain@montagegold.com
+44-7788-687-567
Source: Montage Gold
