Based on the Updated Feasibility Study published in 2024, our flagship Koné project, located in Côte d’Ivoire, has an estimated 16-year mine life and sizeable annual production of +300koz of gold over the first 8 years and is expected to enter production in late Q4-2026
The Wendé advanced greenfield exploration property, located in Côte d’Ivoire, is an early stage exploration opportunity providing the potential to source the next project organically
The Koné project comprises 7 mineralised trends hosting more than 50 identified targets, with mineralization confirmed at all targets drill-tested so far. Montage's approach is to systematically drill test best selected targets to confirm their potential and define starter resources to validate grade profiles before undertaking lager step-out drilling campaigns. Consequently, the number of deposits delineated on the project have increased from 2 in the 2024 Updated Feasibility Study, to 9, with further discoveries demonstrating the potential for further growth.
Koné project exploration and mineralized trends
The exploration programme at Koné is focused on three parallel tracks:
Infill and extension drilling of previously delineated starter deposits, including the more advanced Gbongogo South, Koban North and ANV deposits, as well as other previously delineated deposits;
Advancing pre-resource targets toward maiden resource definition; and including the Petit Yao target which has the potential to be delineated into a high-grade satellite of scale; and
Testing new targets across the project’s extensive land package, based on continuing to systematically drill test best selected targets to confirm their potential and define starter resources to validate their grade profiles before undertaking larger step-out drilling campaigns.
Notes:
The Mineral Resource Estimate is reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and follows the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources. The Mineral Resource Estimate was prepared by Mr. Rolly Wasonga, Qualified Person and employee of Montage, and reviewed and approved by Dr. Gregory Zhang, employee of Snowden Optiro, Australia, who is independent from Montage. Mineral Resources reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. For additional information on the Mineral Resource Estimates, see technical disclosures in the Company’s press release dated March 30, 2026, available on Montage’s website and on SEDAR+.
Mineral Reserves
Mineral Reserve Estimate, dated as of January 14, 2024, shown in the table below, is supported by the Updated Feasibility Study (“UFS”) published in early 2024 which is based on three open-pit gold deposits, comprising the Koné South pit, Koné North pit and the Gbongogo Main pit, feeding a central gold processing facility.
Pit
Classification
Tonnage
(Mt)
Grade
(Au g/t)
Content
(Au koz)
Koné South Pit
Probable
161.9
0.67
3.49
Koné North Pit
Probable
1.9
0.47
0.03
Gbongogo Main
Probable
10.7
1.43
0.49
Total
Probable
174.3
0.72
4.01
Notes:
1. The Mineral Reserves are classified according to the “CIM” definitions.
2. All Mineral Reserves were classified as Probable based on the Indicated Mineral Resource
3. The Mineral Reserve cut off grade range from 0.19 g/t to 0.49g/t based on a $1,550/oz gold price
4. The Mineral Reserve statement was prepared by Joeline McGrath of Carci Mining Consultants Ltd., who is a Qualified Person as defined by NI 43-101.
5. The figures in this tables are rounded to reflect the precision of the estimates and may include rounding errors.
