Montage Gold Corp. (Company) announce that it has received a signed Ministerial Order from the Ministry of the Environment, Sustainable Development and Ecological Transition of Côte d'Ivoire (the "MoE") granting the environmental approvals necessary for the development of its Koné project (the "Environmental Permit"). In addition, Montage has submitted the mining permit applications for the Koné project and anticipates receiving all necessary approvals during second half of 2024.

Prior to receiving the Environmental Permit, Montage team members were received by President Alassane Ouattara of the Republic of Côte d'Ivoire at a ceremony in Abidjan, during which the President reiterated the country's support for the mining sector and the advancement of the Koné project given the positive benefits it can generate for all stakeholders. Montage prepared the ESIA for the Koné project during 2023, based upon the project design as outlined in the updated Feasibility Study published on January 16, 2024 (the "UFS"). Montage worked closely in conjunction with the Cabinet d'Etudes Conseils d'Assistance et de Formation de Côte d'Ivoire ("CECAF"), an independent environmental consultancy firm which led the preparation the ESIA to ensure compliance with all applicable environmental standards prior to its submission.

The completed ESIA was submitted to the Agence Nationale de l'Environnement of Côte d'Ivoire ("ANDE") in December 2023. ANDE is the environmental division of the MoE and is responsible for monitoring the compliance of projects and activities with environmental standards. On March 13, 2024, the validation hearing was held, during which the ESIA was approved by a commission comprised of numerous government agencies, including: the Ministry of Mines, Petroleum and Energy; the Ministry of Environment, Sustainable Development and Ecological Transition (including the Ivorian Anti-Pollution Centre); the Ministry of Water and Forest; the Ministry of Health and Public Hygiene; the Ministry of Interior and Security (including the National Office for Civilian Projection); the Ministry of Equipment and Road Maintenance; the Ministry of Agriculture; the Ministry of Transport; and the Ministry of Economy and Finance.

In addition, various government representatives from the Prefets and sous-Prefets, and nearby village representatives were present. During the hearing the ESIA was approved, subject to only minor variations all of which have been addressed by Montage in conjunction with CECAF. On April 8, 2024, CECAF submitted the revised ESIA report to ANDE, which has been approved by the MoE in a signed Ministerial Order dated May 7, 2023.

The Ministerial Order for the Environmental Permit includes approval for in-pit tailings disposal, a best practice in the mining industry, making Koné the first mine to receive this approval in Côte d'Ivoire. With the Environmental Permit received, Montage has lodged its mining permit applications ("MPA") with the Direction Générale des Mines et de la Géologie ("DGMG") and expects to receive all necessary permits and approvals for the construction of the Koné project during H2-2024. The MPA submissions cover a total area of 357.5 sq.km (103.4 sq.km at Koné and 254.1 sq.km at Gbongogo) and encompasses the Koné deposit, the Gbongogo Main deposit, a 35km haulage corridor, along with sufficient land area for all plant and related surface infrastructure for development of the mine.