Omai Gold Mines Corp. press release

Montage Gold announces grade control results and resource increase for its Koné and Gbongogo Main deposits at its Koné Project

2026-03-30

TSXV - TSX Venture Exchange · Gold · Silver · Canada

HIGHLIGHTS:

174,000 meters of exploration and grade control drilling conducted in 2025, with 36% directed towards the Koné and Gbongogo Main deposits, in addition to delineating new higher-grade satellites 59,873m of grade control and exploration drilling completed on the Koné deposit in 2025, increasing the total drilling conducted on the deposit to 171,050m compared to 100,249m prior to the 2024 Updated Feasibility Study (“UFS”) 7,292m of infill drilling and exploration drilling completed on the Gbongogo Main deposit since the beginning of 2025, increasing the total drilling conducted on the deposit to 32,002m compared to 18,276m prior to the 2024 UFS

In-fill and step-out drilling at the Koné and Gbongogo Main deposits resulted in better definition of higher-grade areas while improving the continuity and extension of the mineralization: Koné deposit M&I Resources increased by 142koz to 4.63Moz while grade increased by 21% to 0.69 g/t Au and Inferred Resources increased by 749koz to 1.26Moz while grade increased by 21% to 0.52 g/t Au, over last year; Koné deposit maiden Measured Resources of 229koz at 0.83 g/t Au demonstrates higher resource confidence level Gbongogo Main deposit Indicated Resources increased by 223koz to 783koz while grade increased by 3% to 1.51 g/t Au and Inferred Resources increased by 39koz to 41koz while grade increased by 21% to 1.08 g/t Au, over last year

Koné project overall M&I Resources increased by 671koz to 5.88Moz while the grade increased by 24% to 0.77 g/t Au and Inferred Resources increased by 782koz to 1.56Moz while the grade increased by 7% to 0.58 g/t Au, over last year, inclusive of resources for additional satellites published last year Indicated and Inferred Resources for higher grade satellite deposits now stand at 1.25Moz at 1.34 g/t Au and 303koz at 1.07 g/t Au, respectively, highlighting the effectiveness of the exploration programme Updated resources for satellite deposits, including Gbongogo South, Koban North, ANV, Yere North, Lokolo Main, Sena and Diouma North are expected to be published in the coming weeks, while maiden resources for new discoveries, such as Petit Yao and Soman 1 & 2, are expected to be published over the course of 2026 Exploration remains a strong focus at the Koné project with a 90,000-meter drill programme launched in early 2026 Koné project construction continues to rapidly advance on-budget and ahead of schedule with a first gold pour through the oxide circuit anticipated in late Q4-2026

ABIDJAN, Côte d’Ivoire, March 30, 2026 (GLOBE NEWSWIRE) -- Montage Gold Corp. (“Montage” or the “Company”)(TSX: MAU, OTCQX: MAUTF) is pleased to report an updated Mineral Resource Estimate (“MRE”) for its Koné and Gbongogo Main deposits, at the Company’s flagship Koné project, located in Côte d’Ivoire, where construction continues to rapidly advance on-budget and ahead of schedule with first gold pour anticipated through the oxide circuit in late Q4-2026.

A total of 174,000 meters of exploration, advance grade control and grade control drilling were conducted in 2025, with 36% directed towards the Koné and Gbongogo Main deposits, in addition to delineating new higher-grade satellite deposits. A total of 59,873 meters of grade control and exploration drilling was completed on the Koné deposit in 2025, increasing the cumulative drilling to 171,050 meters, compared to 100,249 meters prior to the 2024 Updated Feasibility Study (“UFS”). At the Gbongogo Main deposit, 7,292 meters of grade control and exploration drilling have been completed since the beginning of 2025, bringing total drilling to 32,002 meters, compared to 18,276 prior to the 2024 UFS. In-fill and step-out drilling at the Koné and Gbongogo Main deposits, and application of Ordinary Kriging methodology, have enabled better definition of higher-grade zones, improved mineralization continuity, and extended the overall mineralized envelopes.

As shown in Table 1 below, the Koné deposit Measured and Indicated (“M&I”) Resources increased by 142koz to 4.63Moz, with grade increasing by 21% to 0.69 g/t Au, while Inferred Resources increased by 749koz to 1.26Moz, with grade increasing by 21% to 0.52 g/t Au, compared to last year. Furthermore, the Koné deposit maiden Measured Resource of 229koz at 0.83 g/t Au demonstrates a higher level of resource confidence. At the Gbongogo Main deposit, Indicated Resources increased by 223koz to 783koz, with grade increasing by 3% to 1.51 g/t Au, while Inferred Resources increased by 39koz to 41koz, with grade increasing by 21% to 1.08 g/t Au, compared to last year.

The updated MRE for the Koné project’s (“Updated MRE”) overall M&I Resources increased by 671koz to 5.88Moz, with grade increasing by 24% to 0.77 g/t Au, while Inferred Resources increased by 782koz to 1.56Moz, with grade increasing by 7% to 0.58 g/t Au, compared to last year, inclusive of resources for additional satellite deposits published last year. Moreover, Indicated and Inferred Resources for higher-grade satellite deposits now stand at 1.25Moz at 1.34 g/t Au and 303koz at 1.07 g/t Au, respectively, highlighting the effectiveness of the exploration programme.

Updated resources for satellite deposits, including Gbongogo South, Koban North, ANV, Yere North, Lokolo Main, Sena and Diouma North, are expected to be published in the coming weeks, while maiden resources for new discoveries such as Petit Yao and Soman 1 & 2 are expected to be released throughout the year, following the completion of phased exploration programmes. Exploration remains a strong focus at the Koné project, with a 90,000-meter drill programme launched in early 2026, supporting the continued expansion of the resource base.

| Table 1: Koné project Mineral Resource Estimate variance year-over-year | | | | | | | | | | | | | PREVIOUS MRE1 (Published April 2025) | | UPDATED MRE2 (Published March 2026) | | YoY | | | | | | | Resources shown on a 100% basis | Tonnage | Grade | Content | | Tonnage | Grade | Content | | Variance | | | (Mt) | (Au g/t) | (Au koz) | | (Mt) | (Au g/t) | (Au koz) | | (Au koz) | | | | Koné deposit | | | | | | | | | | | | Measured | - | - | - | | 8.6 | 0.83 | 229 | | +229 | | | Indicated | 245 | 0.57 | 4,490 | | 200 | 0.68 | 4,404 | | (86 | ) | | Measured & Indicated | 245 | 0.57 | 4,490 | | 209 | 0.69 | 4,632 | | +142 | | | Inferred | 37 | 0.43 | 510 | | 75 | 0.52 | 1,259 | | +749 | | | Satellite deposits (incl. Gbongogo Main) | | | | | | | | | | | | Measured | - | - | - | | - | - | - | | - | | | Indicated | 16 | 1.38 | 720 | | 29 | 1.34 | 1,249 | | +529 | | | Measured & Indicated | 16 | 1.38 | 720 | | 29 | 1.34 | 1,249 | | +529 | | | Inferred | 8.4 | 1.00 | 270 | | 8.8 | 1.07 | 303 | | +33 | | | Total Koné project | | | | | | | | | | | | Measured | - | - | - | | 8.6 | 0.83 | 229 | | +229 | | | Indicated | 261 | 0.62 | 5,210 | | 229 | 0.77 | 5,652 | | +442 | | | Measured & Indicated | 261 | 0.62 | 5,210 | | 238 | 0.77 | 5,881 | | +671 | | | Inferred | 45 | 0.54 | 780 | | 84 | 0.58 | 1,562 | | +782 | | | 1) Previous MRE as disclosed in the Company’s press release dated April 8, 2025, available on Montage’s website and on SEDAR+. 2) Updated MRE 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 Updated MRE for the Koné deposit (“Updated Koné MRE”) has an effective date of December 31, 2025, and is reported at a gold cut-off grade of 0.20 g/t Au and the updated MRE for the Gbongogo Main deposit (“Updated Gbongogo Main MRE”) has an effective date of March 3, 2026, and is reported at a gold cut-off grade of 0.50 g/t Au. The Updated Koné MRE and Updated Gbongogo Main MRE 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 and a Qualified Person as defined by NI 43-101. The Updated Koné MRE and the Updated Gbongogo Main MRE are constrained within an optimized open-pit shell generated using a gold price of US$2,500 per ounce. The Updated MRE accounts for a change in the constrained optimized open-pit shell generated using a gold price of US$2,500 per ounce on the Gbongogo South and Koban North deposits (as previously published on July 21, 2025) and the ANV deposit (as previously published on November 6, 2025). All other deposits are unchanged from the previous mineral resource estimate disclosed on April 8, 2025, and all previous estimates are available on Montage’s website and on SEDAR+. The Updated Koné MRE is reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. See Table A1 in Appendix A and “Technical Disclosure” below for details. | | | | | | | | | | |

The Company expects to publish an updated life of mine plan (“LOM”) later this year to incorporate the updated MRE for the Koné and Gbongogo Main deposits, along with the addition of several higher-grade satellite deposits. In addition, the LOM is expected to reflect other value enhancement initiatives such as the addition of the oxide circuit, the process plant design enhancements previously announced, and the previously announced shift to an owner-operated mining model.

Martino De Ciccio, Chief Executive Officer of Montage, commented: “We are pleased with our continued progress to unlock exploration value at the Koné project, where construction remains on-budget and ahead of schedule with the first gold pour expected in late Q4-2026 through the oxide circuit.

The updated Mineral Resource Estimate published today for the Koné and Gbongogo Main deposits further enhances the quality of the project. Moreover, the extensive 56,000-meter grade control programme, which represents approximately the first 18 months of production from the Koné deposit and covers a significant portion of oxide mineralisation, further derisks our production start-up.

We are also pleased to be executing against our goal of discovering high grade satellites with the aim of supplementing production from the onset. Over the coming weeks, we expect to publish updated resource estimates for other satellite deposits, including Gbongogo South, Koban North, ANV, Yere North, Lokolo Main, Sena and Diouma North, while we also expect the ongoing 90,000-meter drill programme to yield maiden resources for new targets such as Petit Yao and Soman 1 & 2. This exploration success builds on the momentum generated thus far as we continue on our journey of creating a premier multi-asset African gold producer and unlocking value for all stakeholders.”

Silvia Bottero, EVP Exploration of Montage commented: “We continue to be very excited about the exploration potential at our Koné project, in Côte d’Ivoire, driven by the ongoing success of our exploration programme. Our 2025 programme focused on three parallel tracks: infill and step-out drilling of previously delineated deposits, advancing targets toward maiden resource status, and testing new targets through regional scout drilling. As a result, we have improved the quality, grade, and size of the Koné and Gbongogo Main deposits while increasing its confidence, expanded the other higher-grade satellite deposits, and generated new targets for which we expect to publish maiden resources this year.

The grade control programme, with tighter drill spacing, has delivered significant improvements in the definition of higher-grade shoots, including structures not evident in the broader resource drilling dataset. This has enhanced our understanding of grade continuity and will support more accurate production forecasting with improved control over mining dilution. In addition, mineralized extensions continue to highlight the upside potential of both deposits.

We have also made strong progress in expanding resources for the other higher-grade satellites and look forward to publishing updated resources in the coming weeks. Exploration remains a key focus, with a 90,000-meter programme underway in 2026, aimed at further growing known deposits and delineating maiden resources across new targets.

I would like to thank our exploration teams for their continued dedication and commitment. Their efforts reflect the strength of our team, and we look forward to unlocking further value together for all our stakeholders.”

KONÉ PROJECT MINERAL RESOURCE UPDATE

Table 2 below presents the evolution of the MRE for the Koné project, following the publication of the 2024 Updated Feasibility Study (“UFS”).

In April 2025, the Company published an increase in the MRE on the Koné deposit, as well as initial maiden MREs for 7 new deposits (Gbongogo South, Koban North, ANV, Lokolo Main, Yeré North, Sena, and Diouma North) with all deposits remaining open, given that they are data constrained, as the focus was to outline only a portion of the orebodies to assess the grade profiles in order to prioritize 2025 drill efforts. In July 2025, the Company published an increase in the MREs for both the Gbongogo South and Koban North deposits, with a high rate of conversion from Inferred to Indicated Resources exhibited. It was noted that both deposits were expected to continue to grow given the ongoing drill programme and that certain drill results were not yet incorporated into the then published MREs. In November 2025, the Company published an updated MRE for the ANV deposit where both Indicated and Inferred Resources increased. In addition, the Company indicated that exploration results in the vicinity of the ANV deposit demonstrate its upside, as it remains open down dip and along strike, with further potential across parallel lineaments within 150 meters of the existing deposit. Today’s published Updated MRE includes updates for the Koné and Gbongogo Main deposits, as described in the below section, along with minor changes to the Gbongogo South, Koban North and ANV deposit to align optimized pit shell parameters using a gold price of US$2,500/oz.

| Table 2: Koné project Mineral Resource Estimate variance since publication of the UFS | | | | | | | | | | Measured & Indicated | | Inferred | | | | | | Resources shown on | Tonnage | Grade | Content | | Tonnage | Grade | Content | | a 100% basis | (Mt) | (Au g/t) | (Au koz) | | (Mt) | (Au g/t) | (Au koz) | | | | | | | | | | | 2024 UFS MRE as published on January 16, 20241 | | | | | | | | | Koné deposit | 229 | 0.59 | 4,340 | | 25 | 0.50 | 400 | | Gbongogo Main deposit | 11 | 1.47 | 520 | | - | - | - | | Other satellite deposits | - | - | - | | - | - | - | | Total | 240 | 0.63 | 4,860 | | 25 | 0.50 | 400 | | | | | | | | | | | MRE as published on April 8, 20252 | | | | | | | | | Koné deposit | 245 | 0.57 | 4,490 | | 37 | 0.43 | 510 | | Gbongogo Main deposit | 12 | 1.46 | 560 | | 0.1 | 0.89 | 2.0 | | Other satellite deposits | 4.2 | 1.17 | 160 | | 8.4 | 1.00 | 270 | | Total | 261 | 0.62 | 5,210 | | 45 | 0.54 | 780 | | | | | | | | | | | MRE as published on July 21, 20253 | | | | | | | | | Koné deposit | 245 | 0.57 | 4,490 | | 37 | 0.43 | 510 | | Gbongogo Main deposit | 12 | 1.46 | 560 | | 0.1 | 0.89 | 2.0 | | Other satellite deposits | 9.8 | 1.15 | 364 | | 4.0 | 1.07 | 138 | | Total | 267 | 0.63 | 5,414 | | 41 | 0.49 | 650 | | | | | | | | | | | MRE as published on November 6, 20264 | | | | | | | | | Koné deposit | 245 | 0.57 | 4,490 | | 37 | 0.43 | 510 | | Gbongogo Main deposit | 12 | 1.46 | 560 | | 0.1 | 0.89 | 2.0 | | Other satellite deposits | 12 | 1.13 | 436 | | 5.4 | 1.10 | 192 | | Total | 269 | 0.63 | 5,486 | | 43 | 0.51 | 704 | | | | | | | | | | | MRE as published March 30, 20265 | | | | | | | | | Koné deposit | 209 | 0.69 | 4,632 | | 75 | 0.52 | 1,259 | | Gbongogo Main deposit | 16 | 1.51 | 783 | | 1.2 | 1.08 | 41 | | Other satellite deposits | 13 | 1.12 | 466 | | 7.6 | 1.07 | 262 | | Total | 238 | 0.77 | 5,881 | | 84 | 0.58 | 1,562 | | 1) Updated Feasibility Study available on Montage’s website and on SEDAR+. 2) 2024 MRE as disclosed in the Company’s press release dated April 8, 2025. 3) MRE update as disclosed in the Company’s press releases dated July 21, 2025, which includes MRE updates to the Gbongogo South and Koban North deposits. 4) MRE update for the ANV deposit as disclosed in the Company’s press releases dated November 6, 2025. 5) See Note 2 on Table 1 and “Technical Disclosure” below for details. | | | | | | | |

Table 3 below presents the year-over-year evolution of the MRE for the Koné project. The Koné project’s overall M&I Resources increased by 671koz to 5.88Moz, with grade increasing by 24% to 0.77 g/t Au, while the Inferred Resource increased by 782koz to 1.56Moz, with grade increasing by 7% to 0.58 g/t Au, compared to last year, inclusive of resources for additional satellite deposits published last year. Moreover, Indicated and Inferred Resources for higher-grade satellite deposits now stand at 1.25Moz at 1.34 g/t Au and 303koz at 1.07 g/t Au, respectively, highlighting the effectiveness of the exploration programme.

The grade control (“GC”) and advanced grade control (“AGC”) drilling programmes have significantly enhanced grade distribution resolution relative to the Previous MRE whilst providing greater definition of the continuity of mineralised envelopes across the Koné and Gbongogo Main deposits. Additionally, the transition from a Multiple Indicator Kriging (“MIK”) estimation model to Ordinary Kriging (“OK”) for the Koné and Gbongogo Main deposits enabled improved resolution in the modelling of individual mineralisation packages and vein sets. As a result, the Company has defined higher-grade zones within both deposits and expects improved controls on mine dilution, and stronger predictability for production planning, with significant coverage of oxide mineralisation. The tighter drill spacing has also led to an inaugural Measured Resource for the Koné deposit, demonstrating a higher level of resource confidence. The significant increase in Inferred Resources at the Koné deposit reflects the delineation of mineralised extensions identified towards the southeast and southwest extents of the Koné deposit, which remain open.

| Table 3: Koné project Mineral Resource Estimate variance year-over-year | | | | | | | | | | | | | PREVIOUS MRE1 (Published April 2025) | | UPDATED MRE2 (Published March 2026) | | YOY VARIANCE | | | | | | | Resources shown | Tonnage | Grade | Content | | Tonnage | Grade | Content | | | | | on a 100% basis | (Mt) | (Au g/t) | (Au koz) | | (Mt) | (Au g/t) | (Au koz) | | (Au koz) | | | Koné deposit | | | | | | | | | | | | Measured | - | - | - | | 8.6 | 0.83 | 229 | | +229 | | | Indicated | 245 | 0.57 | 4,490 | | 200 | 0.68 | 4,404 | | (86 | ) | | Measured & Indicated | 245 | 0.57 | 4,490 | | 209 | 0.69 | 4,632 | | +142 | | | Inferred | 37 | 0.43 | 510 | | 75 | 0.52 | 1,259 | | +749 | | | Gbongogo Main deposit | | | | | | | | | | | | Measured | - | - | - | | - | - | - | | - | | | Indicated | 12 | 1.46 | 560 | | 16 | 1.51 | 783 | | +223 | | | Measured & Indicated | 12 | 1.46 | 560 | | 16 | 1.51 | 783 | | +223 | | | Inferred | 0.1 | 0.89 | 2.0 | | 1.2 | 1.08 | 41 | | +39 | | | Other satellite deposits | | | | | | | | | | | | Measured | - | - | - | | - | - | - | | - | | | Indicated | 4.2 | 1.17 | 160 | | 13 | 1.12 | 466 | | +306 | | | Measured & Indicated | 4.2 | 1.17 | 160 | | 13 | 1.12 | 466 | | +306 | | | Inferred | 8.4 | 1.00 | 269 | | 7.6 | 1.07 | 262 | | (7 | ) | | Sub-total satellite deposits | | | | | | | | | | | | Measured | - | - | - | | - | - | - | | - | | | Indicated | 16 | 1.38 | 720 | | 29 | 1.34 | 1,249 | | +529 | | | Measured & Indicated | 16 | 1.38 | 720 | | 29 | 1.34 | 1,249 | | +529 | | | Inferred | 8.4 | 1.00 | 270 | | 8.8 | 1.07 | 303 | | +33 | | | Total | | | | | | | | | | | | Measured | - | - | - | | 8.6 | 0.83 | 229 | | +229 | | | Indicated | 261 | 0.62 | 5,210 | | 229 | 0.77 | 5,652 | | +445 | | | Measured & Indicated | 261 | 0.62 | 5,210 | | 238 | 0.77 | 5,881 | | +671 | | | Inferred | 45 | 0.54 | 780 | | 84 | 0.58 | 1,562 | | +782 | | | 1) Previous MRE as disclosed in the Company’s press release dated April 8, 2025, available on Montage’s website and on SEDAR+. 2) See Note 2 on Table 1, Table A1 in Appendix A and “Technical Disclosure” below for details. | | | | | | | | | | |