Montage Gold Corp. announce that it is making rapid progress to discover and delineate higher-grade exploration targets with the goal of further improving the production profile from the commencement of the operation. Due to historical work conducted on the extensive 2,259km2 land package which hosts Montage's Kone deposit, significant exploration potential has been demonstrated given that over 150km of mineralized structures having been identified across more than 35 targets within 7 mineralized trends.

In order to prioritize efforts, a first 30,000-meter drill programme, amounting to USD 6 million, is currently underway and is expected to be completed in late July 2024, with the goal of testing 15 targets across 3 mineralized trends. High grade targets in proximity to the Koné and Gbongogo Main deposits, within the proposed mining permit area and near the haul road, are being prioritized during this first drilling campaign. A total of 21,175 meters have been drilled in H1 -2024, with high grade intercepts have been returned from several targets.

A second 60,000-meter drill programme is expected to be launched in late Third Quarter -2024 with the goal of delineating resources at selected top priority targets, in addition to continuing to drill test other targets. The main objectives of the drilling programme vary by area, as detailed below: Diouma North, Gbongogo South and Lokolo Main targets: Prove the continuity of mineralization and the determine their potential scale; Bafretou 2, Sena, Niondje, Lokolo South 2 targets: Follow-up on historical intercepts; Sissedougou: Re-interpretate and confirm historical data with further drilling expected; Bafretou 3, Marahoué Gap, Gbongogo-Korotou Trend, Yere targets: Develop new targets along untested geochemical or structural trends. As of June 30, a total of 21,175 meters had been drilled across 513 holes comprised of 19 Diamond Drilling (?DD?) holes for 1,765 meters, 79 Reverse Circulation (?RC?) holes for 7,159 meters, 342 Aircore holes for 11,872 meters, and 73 Auger holes for 379 meters.

During First Quarter -2024, exploration efforts focused on DD drilling whereas efforts in Second Quarter -2024 focused on RC, Aircore, and Auger drilling to better inform the upcoming Diamond Drilling programme. The results in this press release relate to the DD programme completed as the preliminary RC and Aircore drill results are currently being analyzed with full assays results expected to be received in the coming weeks. Notable intercepts from the Diamond Drilling campaign include: Diouma North: 14.10m at 8.04g/t Au and 17.45m at 2.74g/t Au, 22.45m at 1.52 g/t Au; Lokolo Main: 12m at 6.60g/t Au; Sissédougou: 19m at 3.08g/t Au; Yeré North: 14m at 1.62g/t Au.