1911 Gold Intersects up to 14.97 g/t Gold over 2.70 m including 71.60 g/t Au over 0.50 m on SAM Southeast Zone at True North

1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB; OTCBB: AUMBF; FRA: 2KY) is pleased to announce the assay results from eight (8) drill holes for 1,672.0 metres ("m") from the ongoing surface drill program at the recently discovered San Antonio Southeast target at the True North Project. The True North project, including a permitted mill, camp, and tailings facility, is centrally located on the Company's 100%-owned Rice Lake Gold property in southeast Manitoba, Canada .

Highlights:

Drilling has continued to expand the near-surface quartz vein hosted gold ("Au") mineralization on the recently discovered San Antonio Southeast ("SAM SE") target
Drilling is continuing on the SAM SE and SAM West targets as well as new, near-surface gold targets identified by the 1911 Gold geology team within the True North mine footprint

San Antonio Southeast Target

Drill results confirmed the southeastern extension of gold mineralization within the prolific San Antonio mafic unit to depths of over 400 m and along strike for over 500 m , including:
- TN-25-034: Intersected 7.13 grams per tonne (g/t) Au over 2.10 m at a downhole depth of 99.00 m including 12.80 g/t Au over 1.00 m , 7.67 g/t Au over 1.00 m at a downhole depth of 139.70 m , and 14.97 g/t Au over 2.70 m at a downhole depth of 145.00 m including 71.60 g/t Au over 0.50 m
- TN-25-033A: Intersected 7.71 g/t Au over 1.80 m at a downhole depth of 94.00 m , 7.05 g/t Au over 3.10 m at a downhole depth of 102.00 m including 16.50 g/t Au over 1.20 m , and 5.34 g/t Au over 6.00 m at a downhole depth of 121.50 m including 7.32 g/t Au over 1.20 m and 8.58 g/t Au over 1.10 m
- TN-25-027: Intersected 18.80 g/t Au over 0.70 m at a down-hole depth of 27.90 m extending mineralization over a strike length of 50 m to the east of hole TN-24-023
- TN-25-019: Intersected 13.20 g/t Au over 0.50 m at a down-hole depth of 253.00 m , extending mineralization over 125 m to the east of hole TN-24-011
- TN-25-027: Intersected 18.80 g/t Au over 0.70 m at a down-hole depth of 27.90 m , extending mineralization over an additional strike length of 50 m from TN-24-023
- TN-25-028: Intersected 8.36 g/t Au over 0.80 m at a downhole depth of 48.80 m , a 50 m down plunge extension of hole TN-24-027
- TN-25-030: Intersected 8.78 g/t Au over 0.80 m at a downhole depth of 165.30 m , an 80 m down plunge extension from hole TN-24-021

Shaun Heinrichs , CEO and President, stated, "These latest results confirm the discovery of the SAM Southeast target as a parallel ore shoot similar to the San Antonio Mine vein system with the potential to have the same down-dip extension. These parallel systems are exactly what our geology team, under Michele Della Libera's leadership, are targeting – a repetition of mineralization, starting on surface and extending to depth, as a result of multiple east-west shear veins intersecting with the favourable host rocks identified at the True North project. The historical discovery of the Hinge, Cohiba, and 007 mines show the potential for a number of additional stacked systems, with our current drill program designed to test a number of new targets with similar significant potential."

1911 Gold has now completed thirty-one (31) surface drill holes, for a total of 7,216.4 m . The current drill program commenced in October 2024 and remains ongoing with new targets being generated and drill tested within prospective host rock, and structural settings, including significant historical results. The program is ongoing and planned to include up to 30,000 m of drilling by the end of 2025.

San Antonio Southeast target: Discussion of Results

Drilling completed to date has confirmed the extensions of gold mineralization within the SAM gabbro to over 500 m southeast of the historically mined San Antonio zone, covering an area 400 m long and over 550 m to depth. Twenty-one (21) drill holes for a total of 4,894.40 m have been completed to date on the SAM SE target area. Three drill holes were abandoned without reaching target depth due to ground conditions.

The latest drill holes extended the footprint of mineralization another 200 m to the southeast. The drilling completed to date on the SAM SE target confirmed the presence of a vein system parallel to the San Antonio Mine ore body, which has the same geological, alteration and mineralization characteristics. The high-grade gold intercepts in the drill holes released are also enhancing our confidence to define higher grade zones within the target area both along strike and down plunge. Further data interpretation will support the planning refinement for the next phase of exploration drilling, which will be focused on deeper drilling to properly define the potential extension of the zone. The mineralized intercepts are characterized by quartz-carbonate shear veins and vein breccias with sericite, chlorite alteration and up to 2% pyrite disseminated and in veinlets developed in association with northeast and northwest trending sub-vertical shear zones.

Table 1: Select Significant Drill Hole Assay Results

Target Area (name)	Drill Hole (number)	From (m)	To (m)	Interval (m)	Au (g/t)
SAM Southeast	TN-25-019	253.00	253.50	0.50	13.20
SAM Southeast	TN-25-027	27.90	28.60	0.70	18.80
SAM Southeast	TN-25-028	46.90	51.30	4.40	3.12
	Including	46.90	49.60	2.70	4.20
	*and*	48.80	49.60	0.80	8.36
SAM Southeast	TN-25-030	154.30	155.30	1.00	3.53
		162.40	166.10	3.70	3.27
	Including	162.40	164.30	1.90	3.79
	*and*	165.30	166.10	0.80	8.78
		179.00	180.00	1.00	3.16
SAM Southeast	TN-25-033A	94.00	95.80	1.80	7.71
		102.00	105.10	3.10	7.05
	*Including*	102.00	103.20	1.20	16.50
		119.60	125.60	6.00	5.34
	*Including*	121.50	122.70	1.20	7.32
	*and*	123.70	124.80	1.10	8.58
SAM Southeast	TN-25-034	99.00	101.10	2.10	7.13
	*Including*	99.00	100.00	1.00	12.80
		136.50	140.70	4.20	2.49
	*Including*	139.70	140.50	1.00	7.67
		145.00	147.70	2.70	14.97
	*Including*	145.00	145.50	0.50	71.60


1)	Intercepts above a cut-off grade of 2.25 g/t Au
2)	Maximum of 2.50 m internal dilution and no top capping applied
3)	Intervals represent drill core length and are considered to represent 60% to 90% of true widths
4)	Full Significant Assay Results included in Table 2
5)	Drill hole Information included in Table 3

San Antonio Southeast Target

The San Antonio Southeast target is located approximately 350m southeast of the historically mined San Antonio zone of the True North Gold Mine. The San Antonio Southeast target occurs within the gabbro of the San Antonio mafic unit and the intersection with the L-10 shear zone. The SAM gabbro hosts the majority of the known gold mineralization within the True North Mine and historically produced 1,309,351 ounces Au at an average grade of 9.33 g/t Au. The SAM SE target also hosts the 710-711 vein system at depth, which contains a mineral resource of 198,000 oz Au @ 5.21 g/t Au indicated and 118,000 oz Au @ 3.91 g/t Au ( see press release dated November 20, 2024 , "1911 Gold Announces Mineral Resource Estimate Update for the True North Gold Project" ) located on the "26 Level" of the True North underground mine at a depth approximately 1,000 m down-dip of the current drilling. The L-10 shear zone also hosts a gold mineralized vein system within the parallel Shoreline Basalt unit containing 58,000 oz Au @ 4.99 g/t Au indicated and 61,000 oz @ 3.96 g/t Au inferred resources (See Figure 2).

Next Steps

With the continued intersection of good gold mineralization in step-out drilling of near surface targets at the True North Gold Mine complex in the San Antonio West, Hinge East and San Antonio Southeast target areas, 1911 Gold is continuing to test new targets as well as expand the footprint of the newly discovered zones. The program's ongoing success has expanded the current drill program to comprise over 30,000 m of drilling. Two drill rigs have been operating on the property to test the open extensions at San Antonio West and San Antonio Southeast as well as other new targets.

Table 3: True North; Drill Hole Details

Drill Hole (Number)	`Target (Name)	*Northing (m)**	*Easting (m)**	Elevation (masl)	Azimuth (°)	Inclination (°)		Depth (m)
TN-25-018	SAM-Southeast	5655444	312790	252	175		-45	269.0
TN-25-019	SAM-Southeast	5655444	312790	252	156		-45	323.0
TN-25-020	SAM Southeast	5655311	312609	251	156		-49	131.0
TN-25-027	SAM Southeast	5655325	312562	290	113		-53	128.0
TN-25-028	SAM Southeast	5655416	312542	258	164		-58	155.0
TN-25-030	SAM Southeast	5655470	312610	256	163		-47	230.0
TN-25-031	SAM Southeast	5655470	312610	256	155		-62	242.0
TN-25-033A	SAM Southeast	5655466	312612	256	185		-45	194.0

*	Coordinates are provided in UTM NAD83 Zone 15

Qualified Person Statement

The scientific and technical information in this news release has been reviewed and approved by Mr. Michele Della Libera , P.Geo, Vice-President Exploration of 1911 Gold, who is a "Qualified Person" as defined under NI 43-101.

Table 2: True North; Significant Drill Hole Assays

Target Area (name)	Drill Hole (number)	From ( m)	To (m)	Interval (m)	Au (g/t)
SAM Southeast	TN-25-019	253.00	253.50	0.50	13.20
SAM Southeast	TN-25-020	60.10	60.80	0.70	2.37
SAM Southeast	TN-25-027	27.90	28.60	0.70	18.80
SAM Southeast	TN-25-028	46.90	51.30	4.40	3.12
	*Including*	46.90	49.60	2.70	4.20
	*and*	48.80	49.60	0.80	8.36
SAM Southeast	TN-25-030	152.20	153.30	1.10	1.15
		154.30	155.30	1.00	3.53
		154.30	155.30	1.00	3.53
		162.40	166.10	3.70	3.27
	*Including*	162.40	164.30	1.90	3.79
	*and*	165.30	166.10	0.80	8.78
		179.00	180.00	1.00	3.16
SAM Southeast	TN-25-031	138.80	141.50	2.70	1.11
		182.20	183.20	1.00	1.03
SAM Southeast	TN-25-033A	94.00	95.80	1.80	7.71
		102.00	105.10	3.10	7.05
	*Including*	102.00	103.20	1.20	16.50
		107.00	108.50	1.50	1.81
		111.50	113.00	1.50	0.93
		117.50	119.00	1.50	0.80
		119.60	125.60	6.00	5.34
	*Including*	121.50	122.70	1.20	7.32
	*and*	123.70	124.80	1.10	8.58
		179.30	180.50	1.20	1.57
SAM Southeast	TN-25-034	82.40	84.10	1.70	1.18
		99.00	101.10	2.10	7.13
	*Including*	99.00	100.00	1.00	12.80
		101.90	102.40	0.50	1.83
		105.00	105.70	0.70	1.58
		132.20	133.60	1.40	2.25
		136.50	142.30	5.80	2.20
	*Including*	136.50	140.70	4.20	2.49
	*Including*	139.70	140.70	1.00	7.67
		145.00	147.70	2.70	14.97
	*Including*	145.00	145.50	0.50	71.60

Quality Assurance/Quality Controls (QA/QC)

Core samples are collected by sawing the drill core in half along the axis, with one-half sampled, placed in plastic sample bags, labelled, sealed and the other half retained for future reference. Batches are shipped to Activation Laboratories Ltd. (Actlabs), in Thunder Bay, Ontario for sample preparation and analysis. Gold analysis is completed by fire-assay with an atomic absorption finish on 50 grams of prepared pulp. Samples returning values greater or equal to 5.00 g/t are reanalysed by fire assay with a gravimetric finish. Total gold analysis (Screen Metallic Sieve) is conducted on highly mineralized samples or the presence of visible gold. Certified gold reference material samples are inserted every 20 samples and blank samples at intervals of one in every 50 samples, with additional blanks inserted after samples hosting visible gold. Repeat third-party gold analyses for 5% of all submitted sample pulps are analyzed at ALS-Chemex Laboratory, North Vancouver, Canada .

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario , and intends to focus on organic growth and accretive acquisition opportunities in North America .

1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE 1911 Gold Corporation

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1911 Gold Successfully Re-Enters the True North Mine and Receives Manitoba Mineral Development Fund Grant

1911 Gold Corporation (" 1911 Gold " or the " Company ") (TSXV: AUMB; OTCQB: AUMBF) is pleased to announce that the Company has completed the re-commissioning of the True North mine hoist system in the A Shaft and is now focused on completing all necessary electrical and mechanical work down to Level 16 of the underground mine. Several levels within the True North Mine are now accessible for rehabilitation, including Level 16 at a depth of 695 m below surface, and will be used for our underground drilling to reach key targets identified by the exploration team, including following the SAM Southeast and West targets to depth.

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Blackrock Drills 4.2m of 700 g/t AgEq and Reports Multiple +1 kg/t AgEq Intercepts at Tonopah West

M&I Conversion Program Drilling Continues to Expand and Confirm Continuity of High-Grade Gold and Silver Mineralization in the Shallowest Portion of the M&I Conversion Area

HIGHLIGHTS:

TXC25-138 returned multiple broad zones of high-grade silver and gold mineralization spanning from 230.4 metres to 241.86 metres down hole, including:
- 4.24 metres grading 700 grams per tonne (g/t) silver equivalent (AgEq) (Ag/Au ratio 90:1) (378.5 g/t silver (Ag) and 3.57 g/t gold (Au)) from 230 metres down hole, including 0.31 metres grading 3,182 g/t AgEq (1,805.0 g/t Ag and 15.27 g/t Au); and
- 5.18 metres grading 556 gt/ AgEq (328.2 g/t Ag and 2.53 g/t Au) from 236.68 metres, which included intervals of 3,340 g/t AgEq (1,987 g/t Ag and15.0 g/t Au) over 0.31 metres and 1,714 g/t AgEq (1,037.0 g/t Ag and 7.51 g/t Au) over 0.61 metres respectively.
There are ten drillholes with pending assays from the M&I Conversion Program, and seven drillholes are pending assays from the Resource Expansion program.
Modelling of the M&I Conversion Program drillholes is now underway, with an updated mineral resource estimate on track for Q3, 2025.

Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) ("Blackrock" or the "Company") announces additional high-grade silver and gold drill intercepts from the M&I Conversion Program (as defined herein) at its 100% owned Tonopah West project ("Tonopah West") located in Nye and Esmeralda Counties, Nevada, United States.

The Company is currently in the process of completing its in-fill drilling program at Tonopah West which commenced in mid-July 2024 and consists of 62 drillholes within the shallow southern portion of the Bermuda-Merten vein group ("DPB South") resource area (the "M&I Conversion Area") with a goal to convert up to 1.0-million tonnes of material from inferred mineral resources to measured and indicated mineral resources (the "M&I Conversion Program"). The M&I Conversion Area represents the initial years of production based on the mine plan laid out in the Company's Preliminary Economic Assessment on Tonopah West (see September 4, 2024 news release).

Andrew Pollard, the Company's President and Chief Executive Officer, stated: "Additional results from our M&I Conversion Program continue to validate our model, supporting mineral continuity as we track and define the geometry of the high-grade shoots within the vein system. Today's results, coupled with results previously announced from this same program, highlight that broader intercepts are associated with higher-than-average grades which should be beneficial in delineating high-grade tonnes. The broad zones of high-grade mineralization encountered in drillhole TXC-138 are a standout for us, as at a composite of 11.46 metres of 514 g/t AgEq (290 g/t Ag & 2.48 g/t Au), this is thickest (composite) zone we've drilled throughout the district outside of the historic Victor mine. As we await the final assays from the M&I Conversion Program, modelling has begun for our upcoming mineral resource update on Tonopah West, currently on track for Q3, 2025."

Table 1: Tonopah West Assay Intercepts using 150 g/t AgEq cut off

Drillhole ID	Hole Type	Program	From (m)	To (m)	Drill Interval (m)	Ag g/t	Au g/t	AgEq g/t
TXC25-125	RC/Core	M&I Conversion	327.97	329.31	1.34	118.21	1.336	238.73
Including			328.27	328.58	0.31	432.00	4.900	874.03
TXC25-126	RC/Core	M&I Conversion	319.61	320.22	0.61	247.80	2.554	478.20
Including			319.92	320.22	0.31	421.00	4.380	816.12
TXC25-127	RC/Core	M&I Conversion	230.22	230.73	0.52	66.14	0.964	153.10
TXC25-128	RC/Core	M&I Conversion	300.81	302.21	1.40	244.83	2.070	431.56
TXC25-128	RC/Core	M&I Conversion	348.14	348.75	0.61	300.50	3.030	573.84
TXC25-128	RC/Core	M&I Conversion	427.76	428.46	0.70	129.00	1.360	251.69
TXC25-129	RC/Core	M&I Conversion	307.24	308.15	0.91	155.50	1.322	274.76
TXC25-129	RC/Core	M&I Conversion	323.27	323.88	0.61	65.10	1.140	167.94
TXC25-129	RC/Core	M&I Conversion	344.94	345.55	0.61	237.00	2.520	464.33
TXC25-131	RC/Core	M&I Conversion	319.19	319.80	0.61	292.74	2.480	516.46
Including			319.49	319.80	0.31	584.00	4.940	1,029.64
TXC25-132	RC/Core	M&I Conversion	437.60	438.52	0.92	125.81	1.804	288.55
TXC25-138	RC/Core	M&I Conversion	213.30	213.82	0.52	111.00	0.945	196.25
TXC25-138	RC/Core	M&I Conversion	230.40	234.64	4.24	378.52	3.572	700.75
Including			232.72	233.02	0.31	1,805.00	15.267	3,182.24
TXC25-138	RC/Core	M&I Conversion	236.68	241.86	5.18	328.23	2.528	556.28
Including			238.35	238.66	0.31	1,987.00	15.000	3,340.15
Including			240.03	240.64	0.61	1,037.00	7.510	1,714.48
TXC25-140	RC/Core	M&I Conversion	295.96	296.51	0.55	78.09	1.180	184.54
TXC25-140	RC/Core	M&I Conversion	358.14	358.84	0.70	77.31	0.989	166.53
TXC25-140	RC/Core	M&I Conversion	362.90	363.81	0.91	335.63	3.803	678.70
Including			362.90	363.20	0.30	371.00	4.310	759.81
TXC25-140	RC/Core	M&I Conversion	378.11	380.09	1.98	95.98	1.215	205.59
Including			379.05	380.09	1.04	136.49	1.787	297.70
AgEq = Ag + Au(Factor); where Factor = (Au Price/Ag Price)(Au Recovery/Ag Recovery or Factor=($1900/$23)*(95%/87%)=90.21; True thickness is 90 to 100% of interval thickness based on the modelled vein geometries; Cut-off grade is 150 gpt AgEq; Reverse Circulation (RC)/Core = RC pre-collar with core tail.

As is evident from Table 1, the highest-grade results are associated with thicker intercepts of quartz vein material. This is similar to previous results seen from the M&I Conversion Program where broader intercepts were encountered, such as: TXC24-095 which returned 5.03 metres of 774.5 g/t AgEq (461.5 g/t Ag and 3.47 g/t Au),¹ TXC24-119 which returned 4.69 metres of 714 g/t AgEq (379.0 g/t Ag and 3.72 g/t Au),² and TXC24-122 which cut 5.21 metres of 563 g/t AgEq (3.02 g/t Au and 292 g/t Ag)³ .This combination of high grade and thickness should have a positive impact on the proposed development of the M&I Conversion Area and the scheduled mineral resource update. Modelling of the M&I Conversion Program drillholes has started and an updated mineral resource estimate on Tonopah West is currently scheduled for Q3 2025.

The geometry of the high-grade silver and gold is sizable with high-grade shoots plunging to the northwest within the M&I Conversion Area. These shoots are open to the northwest, east and open down plunge. TXC25-138 shows high-grade shoots have thicker vein intercepts along the axis of the shoot and multiple high-grade intercepts are being returned under the M&I Conversion Program. Allowing for the 3 metres of internal waste, TXC25-138 would have a drill interval of 11.46 metres grading 290.2 g/t Ag and 2.48 g/t Au or 514.3 g/t AgEq. The thickness of this mineralized shoot is approaching those seen in the historic mining at the Victor and Ohio mines where the Victor vein area was 24 metres thick and the Ohio vein area was 15 metres thick⁴.

Figure 1: Tonopah West project showing NI43-101 resource location and expansion potential

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/251267_df9b5b7fb4827b2a_001full.jpg

Drillholes TXC25-133, -134, -135, and TXC25-136 returned silver and gold assays below the cutoff grade for Table 1. The drillholes returned silver equivalent grades ranging between 100 and 144 g/t AgEq with silver values ranging between 6 to 71 g/t and gold values between 0.51 and 1.34 g/t. There are ten drillholes (TXC25-137, -139, -141, -142, and TXC25-146 to -TXC25-151) with pending assays from the M&I Conversion Program. In addition, seven drillholes are pending assays from the Company's exploration drill program that is targeting expansion potential across a one kilometre trend of vein corridor linking the Denver-Paymaster and Bermuda-Merten vein groups and the Northwest step out resource area at Tonopah West (the "Resource Expansion Program") (see February 24, 2025 news release).

Figure 2 is a plan map showing the location of all the drillholes in the M&I Conversion Program and highlighting those reported in this news release.

Figure 2: Drillhole location map of the M&I Conversion Program showing drillholes reported in this news release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/251267_df9b5b7fb4827b2a_002full.jpg

Table 2: Tonopah West Drillhole Location Coordinates (based on GPS readings in the field, Datum UTM, NAD 1927, Zone 11)

Hole ID	Area	Type	UTM_NAD27 East	UTM_NAD27 North	Elevation (m)	Depth (ft)	Depth (m)	Azimuth	Dip
TXC25-125	DPB South	RC/Core	477803.70	4213416.77	1772.86	1177.0	358.7	180	-55
TXC25-126	DPB South	RC/Core	477804.02	4213508.86	1767.74	1377.0	419.7	180	-55
TXC25-127	DPB South	RC/Core	477777.73	4213417.95	1771.99	1002.0	305.4	180	-62
TXC25-128	DPB South	RC/Core	477748.86	4213697.90	1767.22	1559.0	475.2	180	-55
TXC25-129	DPB South	RC/Core	477792.34	4213590.24	1769.09	1398.0	426.1	180	-60
TXC25-130	DPB South	RC/Core	477813.05	4213696.50	1768.97	1332.0	406.0	180	-55
TXC25-131	DPB South	RC/Core	477774.72	4213512.62	1767.17	1312.0	399.9	180	-60
TXC25-132	DPB South	RC/Core	477738.29	4213429.15	1768.79	1532.0	467.0	180	-55
TXC25-133	DPB South	RC/Core	478534.92	4213166.73	1803.79	1160.0	353.6	180	-67
TXC25-134	DPB South	RC/Core	478382.37	4213223.62	1798.88	1256.5	383.0	180	-69
TXC25-135	DPB South	RC/Core	478196.91	4213351.05	1782.35	1002.0	305.4	180	-58
TXC25-136	DPB South	RC/Core	477845.60	4213690.57	1770.44	1470.0	448.1	180	-72
TXC25-137	DPB South	RC/Core	477930.70	4213330.78	1776.32	1028.0	313.3	180	-62
TXC25-138	DPB South	RC/Core	477930.70	4213330.04	1776.49	1050.0	320.0	180	-51
TXC25-139	DPB South	RC/Core	477980.65	4213246.52	1778.41	1061.0	323.4	180	-67
TXC25-140	DPB South	RC/Core	477834.09	4213503.16	1768.96	1646.0	501.7	180	-65

Quality Assurance/ Quality Control

All sampling is conducted under the supervision of the Company's project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The RC and core samples are hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they are loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company's instructions.

The RC samples are lined out at the lab and logged in to AAL's system. The core samples are cut using core saws and personnel at AAL's facility in Sparks, Nevada according to the Company's instructions delivered with each core hole.

All samples are dried, crushed to 85% passing 10 mesh (2mm) and a 250-gram sub-sample split is collected and pulverized to 200 mesh (74 micron) in a ring and puck pulverizer. Then the pulverized material is digested and analyzed for gold using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Over limits for gold and silver are determined using a gravimetric finish (GRAVAU30 and GRAVAG30). Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified reference material approximately every 15th to 20th sample.

Qualified Persons

Blackrock's exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Howald has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-Looking statements in this news release relate to, among other things: the Company's strategic plans; the timing of completion of the Company's drill programs at Tonopah West and the anticipated objectives and results therefrom; the incorporation of the results from the M&I Conversion Program in an updated mineral resource estimate on Tonopah West and the anticipated timing of release thereof; the Company's de-risking initiatives at Tonopah West; estimates of mineral resource quantities and qualities; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.

These forward-looking statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company's operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company's ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption "Risks Factors" in the Company's most recent Annual Information Form.

Forward-Looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Further Information, Contact:

Andrew Pollard
President and Chief Executive Officer
(604) 817-6044
info@blackrocksilver.com

News Provided by Newsfile via QuoteMedia

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Target Area (name)	Drill Hole (number)	From (m)	To (m)	Interval (m)	Au (g/t)
SAM West	TN-25-029	71.70	72.20	0.50	3.09
SAM West	TN-25-035	53.10	53.60	0.50	3.30
		69.00	71.10	2.10	8.81
	Including	70.50	71.10	0.60	19.20
SAM West	TN-25-037	60.90	61.90	1.00	8.73
		65.10	66.10	1.00	62.40
		86.80	87.50	0.70	6.09
		128.80	133.30	4.50	4.17
	Including	128.80	129.60	0.80	8.45
SAM West	TN-25-043	66.20	67.20	1.00	12.50
SAM West	TN-25-045	7.50	11.20	3.70	6.84
	Including	8.30	9.70	1.40	12.40
		29.50	32.20	2.70	5.30
	Including	29.50	30.00	0.50	11.30
	and	31.50	32.20	0.70	7.69
SAM West	TN-25-048	31.90	32.90	1.00	3.44

Target Area (name)	Drill Hole (number)	From (m)	To (m)	Interval (m)	Au* (g/t)
SAM West	TN-25-025	No Significant Results
SAM West	TN-25-029	71.70	72.20	0.50	3.09
SAM West	TN-25-032	167.80	168.70	0.90	1.20
		177.40	178.30	0.90	0.71
SAM West	TN-25-035	53.10	53.60	0.50	3.30
		69.00	71.10	2.10	8.81
	Including	70.50	71.10	0.60	19.20
		132.10	132.60	0.50	1.42
		156.80	158.30	1.50	1.64
SAM West	TN-25-037	60.90	61.90	1.00	8.73
		64.10	65.10	1.00	1.78
		65.10	66.10	1.00	62.40
		86.80	87.50	0.70	6.09
		127.80	128.80	1.00	1.43
		128.80	133.30	4.50	4.17
	Including	128.80	129.60	0.80	8.45
		204.70	206.10	1.40	0.83
SAM West	TN-25-043	5.70	6.50	0.80	1.18
		10.10	11.30	1.20	0.74
		13.00	13.50	0.50	1.03
		66.20	67.20	1.00	12.50
		69.70	70.20	0.50	1.33
		73.30	77.00	3.70	0.65
		81.40	83.30	1.90	0.53
SAM West	TN-25-045	5.50	7.50	2.00	0.89
		7.50	11.20	3.70	6.84
	Including	8.30	9.70	1.40	12.40
		11.20	12.80	1.60	0.68
		29.50	32.20	2.70	5.30
	Including	29.50	30.00	0.50	11.30
	and	31.50	32.20	0.70	7.69
		71.60	72.10	0.50	1.53
SAM West	TN-25-048	28.30	29.20	0.90	0.96
		31.90	32.90	1.00	3.44
		33.70	34.90	1.20	0.67
		39.30	40.50	1.20	0.81
		45.20	47.00	1.80	0.62
		55.30	56.10	0.80	1.75

Drill Hole (Number)	`Target (Name)	Northing* (m)	Easting* (m)	Elevation (masl)	Azimuth (°)	Inclination (°)		Depth (m)
TN-25-025	SAM West	5655913	311823	255	230		-80	149.0
TN-25-029	SAM West	5655914	311826	255	186		-69	167.0
TN-25-032	SAM West	5655913	311822	256	139		-64	182.0
TN-25-035	SAM West	5655894	311926	253	228		-45	193.0
TN-25-037	SAM West	5655894	311926	253	292		-73	215.0
TN-25-043	SAM West	5655811	311852	248	285		-49	164.0
TN-25-045	SAM West	5655811	311852	248	285		-68	170.0
TN-25-048	SAM West	5655788	311872	251	148		-45	131.0

Target Area (name)	Drill Hole (number)	From (m)	To (m)	Interval (m)	Au (g/t)
SAM Southeast	TN-24-011	244.76	245.72	0.96	2.55
		277.74	278.58	0.84	8.37
SAM Southeast	TN-24-14	361.71	362.40	0.69	13.40
		369.85	371.70	1.85	2.52
SAM Southeast	TN-25-016	332.60	334.20	1.60	2.72
SAM Southeast	TN-25-021	33.10	33.60	0.50	14.00
		51.60	57.20	5.60	2.52
	Including	51.60	53.00	1.40	5.13
		60.10	62.30	2.20	6.46
	Including	61.80	62.30	0.50	21.80
SAM Southeast	TN-25-022	51.30	51.80	0.50	6.00
		60.50	62.60	2.10	2.32
SAM Southeast	TN-25-023	37.00	37.50	0.50	9.37
		41.30	42.20	0.90	2.41
SAM Southeast	TN-25-024	73.00	74.00	1.00	4.55
		106.60	107.10	0.50	14.50

Target Area (Name)	Drill Hole (Number)	From (m)	To (m)	Interval (m)	Au (g/t)
SAM Southeast	TN-24-011	244.76	245.72	0.96	2.55
		257.76	260.00	2.24	0.97
		263.00	264.50	1.50	1.64
		277.74	278.58	0.84	8.37
SAM Southeast	TN-24-14	359.40	359.90	0.50	1.65
		361.71	362.40	0.69	13.40
		363.90	365.22	1.32	0.67
		367.10	369.85	2.75	1.36
		369.85	371.70	1.85	2.52
		371.70	375.55	3.85	0.80
		385.95	386.55	0.60	1.91
SAM Southeast	TN-24-15	347.57	348.07	0.50	0.74
		371.95	372.51	0.56	1.83
		385.55	386.55	1.00	1.70
SAM Southeast	TN-25-016	332.60	334.20	1.60	2.72
		350.00	351.30	1.30	0.85
		369.50	370.25	0.75	1.28
SAM Southeast	TN-25-017	212.40	213.00	0.60	0.80
SAM Southeast	TN-25-021	33.10	33.60	0.50	14.00
		50.20	51.60	1.40	0.51
		51.60	57.20	5.60	2.52
	Including	51.60	53.00	1.40	5.13
		57.20	58.00	0.80	0.73
		60.10	62.30	2.20	6.46
	Including	61.80	62.30	0.50	21.80
		62.30	62.80	0.50	1.59
SAM Southeast	TN-25-022	34.20	35.40	1.20	1.21
		47.30	48.50	1.20	1.46
		51.30	51.80	0.50	6.00
		58.90	59.40	0.50	1.95
		60.50	62.60	2.10	2.32
SAM Southeast	TN-25-023	32.90	33.50	0.60	0.57
		36.00	37.00	1.00	0.83
		37.00	37.50	0.50	9.37
		37.50	38.00	0.50	0.73
		41.30	42.20	0.90	2.41
		70.40	73.00	2.60	0.62
		73.00	74.00	1.00	4.55
		75.00	76.00	1.00	1.41
		78.30	78.90	0.60	1.07
		102.90	103.40	0.50	0.51
		106.10	106.60	0.50	0.60
		106.60	107.10	0.50	14.50
		110.90	113.00	2.10	1.16

Target Area	Drill Hole Number	From (m)	To (m)	Interval (m)	Au (g/t)
Hinge East	TN-24-003	44.65	48.10	3.45	2.85
	Including	44.65	47.05	2.40	3.55
	*Including*	44.65	45.20	0.55	6.20
	*and*	46.55	47.05	0.50	6.30
	*and*	47.55	48.10	0.55	2.39
		60.60	61.20	0.60	2.68
SAM West	TN-24-005	122.75	125.85	3.10	2.45
		147.00	147.65	0.65	7.76
SAM West	TN-24-006	125.38	130.22	4.84	3.70
	*Including*	126.00	127.05	1.05	7.23
	*and*	128.55	129.46	0.91	8.42
SAM West	TN-24-007	115.45	117.25	1.80	2.48
SAM West	TN-24-010	89.00	89.96	0.86	3.41

Target (Area)	Drill Hole (Number)	From (m)	To (m)	Interval (m)	Au (g/t)
Cohiba East	TN-24-001	No Significant Results (NSR)
	TN-24-002	NSR
Hinge East	TN-24-003	44.65	48.10	3.45	2.85
	*Including*	44.65	47.05	2.40	3.55
	*Including*	44.65	45.20	0.55	6.20
	*and*	46.55	47.05	0.50	6.30
	*and*	47.55	48.10	0.55	2.39
		60.60	61.20	0.60	2.68
Hinge East	TN-24-004	130.34	131.18	0.84	1.96
		145.19	146.30	1.11	0.10
SAM West	TN-24-005	122.75	125.85	3.10	2.45
		147.00	147.65	0.65	7.76
SAM West	TN-24-006	66.74	75.00	8.26	0.66
		125.38	130.22	4.84	3.70
	*Including*	126.00	127.05	1.05	7.23
	*and*	128.55	129.46	0.91	8.42
SAM West	TN-24-007	96.18	104.50	8.32	0.20
		104.50	105.6	1.10	1.49
		115.45	117.25	1.80	2.48
SAM West	TN-24-008	91.70	92.80	1.10	1.22
SAM West	TN-24-009	92.00	95.00	3.00	0.92
SAM West	TN-24-010	86.64	89.96	3.32	1.77
	*Including*	89.00	89.96	0.96	3.41
		89.96	101.22	11.26	0.11

Drill Hole (Number)	Target (Name)	Northing* (m)	Easting* (m)	Elevation (m)	Azimuth ( ° )	Inclination ( ° )	EOH Depth (m)
TN-24-001	Cohiba East	5656058	314458	267	199	-66	407.00
TN-24-002	Cohiba East	5656058	314458	267	183	-48	350.00
TN-24-003	Hinge East	5656008	313487	268	178	-68	245.00
TN-24-004	Hinge East	5656063	313489	267	185	-67	299.00
TN-24-005	SAM West	5655928	312000	255	257	-46	236.00
TN-24-006	SAM West	5655948	311718	249	220	-75	143.00
TN-24-007	SAM West	5655948	311718	249	157	-66	152.00
TN-24-008	SAM West	5655948	311718	249	173	-46	131.00
TN-24-009	SAM West	5655925	311787	247	195	-46	140.00
TN-24-010	SAM West	5655925	311787	247	190	-71	119.00

Sample Number	Easting (NAD83-8N)	Northing (NAD83-8N)	Sample Type	Au g/t	Ag g/t	Cu ppm	As ppm	Sb ppm	Bi ppm
C959829	380510	6714755	Grab	0.50	1.26	153	9,030	94.4	8.57
C959830	380508	6914767	Grab	1.68	8.99	212	>10,000	153	68.3
C959831	380515	6914772	30cm Chip	5.95	7.17	161	>10,000	38.8	49.6

Hole-ID	Easting (NAD83-8N)	Northing (NAD83-8N)	Elevation m	Depth m	Azimuth	Dip
N21-01	379458	6913364	852	306.32	35	-60
N21-02	379120	6913528	951	449.58	30	-60
N21-03	379162	6913073	895	320.43	210	-60
N21-04	379162	6913073	895	295.66	30	-60
N21-05	378859	6913336	974	288.04	220	-60
N21-06	378859	6913336	974	316.99	40	-60
N21-07	379111	6914021	1003	312.42	70	-70
N21-08	379566	6914430	902	327.5	60	-60
N21-09	379666	6914527	860	215.49	45	-70
N21-10	379525	6914090	906	257.86	210	-70
N21-11	379620	6914482	880	232.56	340	-60
O21-01	380343	6912498	812	242.32	220	-50

Hole-ID	From m	To m	Interval m	AuEq 1750	Au g/t	Ag g/t	Cu %
N21-01	21	38.5	17.5	0.45	0.33	1.39	0.07
N21-01	57	84.25	27.25	0.75	0.60	1.65	0.08
Including	67	84.25	17.25	1.02	0.85	1.72	0.09
N21-01	218	224.7	6.73	0.29	0.11	1.20	0.11
N21-01	268	272.5	4.5	0.52	0.24	1.72	0.16
N21-02	15.24	46.5	31.26	0.76	0.71	0.67	0.02
Including	28.5	33	4.5	2.10	2.00	1.57	0.05
N21-02	61.5	65.45	3.95	1.30	1.08	2.20	0.12
Including	61.5	65.45	3.95	1.30	1.08	2.20	0.12
N21-02	114.08	119.5	5.37	0.79	0.74	0.39	0.03
N21-02	223.41	236.7	13.29	1.17	0.90	2.24	0.16
Including	228.8	236.7	7.9	1.58	1.25	3.15	0.19
N21-03	90.1	109	18.9	0.55	0.48	0.54	0.04
Including	90.1	95.5	5.4	1.00	0.93	0.57	0.04
N21-04	135.5	138.5	3	1.24	1.18	0.25	0.03
N21-06	276.38	280.1	3.73	1.22	0.87	1.85	0.21
N21-07	75	82	7	0.46	0.43	0.59	0.01
N21-08	70	86.5	16.5	0.66	0.66	0.25	0.00
Including	70	82	12	0.71	0.70	0.25	0.00
N21-09	85.5	88.5	3	0.89	0.87	0.25	0.01
N21-09	153	163	10	0.46	0.33	0.25	0.08
N21-10	4	13	9	0.41	0.36	0.87	0.02
N21-10	54	63	9	0.71	0.65	0.69	0.03
N21-11	31.6	51.6	20	0.96	0.92	1.46	0.01
Including	31.6	41	9.4	1.41	1.36	2.25	0.01
N21-11	194	198	4	0.55	0.42	1.05	0.07
O21-01	94.5	98.3	3.8	0.68	0.47	1.22	0.12
O21-01	141	146.4	5.43	0.69	0.56	0.69	0.08

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⁽¹⁾		The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term "non-managed joint ventures" (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed by AngloGold Ashanti.

		Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.

⁽²⁾		On 22 November 2024, the acquisition of Centamin plc ("Centamin") was successfully completed. Centamin has been included from the effective date of the acquisition.

⁽³⁾		Includes gold concentrate from the Cuiabá mine sold to third parties in Q1 2024.

⁽⁴⁾		The financial measures "headline earnings (loss)" and "headline earnings (loss) per share" are not calculated in accordance with IFRS® Accounting Standards, but in accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial measures for purposes of the rules and regulations of the US Securities and Exchange Commission ("SEC") applicable to the use and disclosure of Non-GAAP financial measures.

⁽⁵⁾		The Company is not providing quantitative reconciliations to the most directly comparable IFRS measures for its Non-GAAP financial guidance shown above in reliance on the exception provided by Rule 100(a)(2) of Regulation G because the reconciliations cannot be performed without unreasonable efforts as such IFRS measures cannot be reliably estimated due to their dependence on future uncertainties and adjusting items, including, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics (including the COVID-19 pandemic), and other business and operational risks and challenges and other factors, including mining accidents, that the Company cannot reasonably predict at this time but which may be material. Outlook economic assumptions for 2025 guidance are as follows: $0.65/A$, BRL5.88/$, AP1,099/$, ZAR18.00/$ and Brent $75/bbl.

		Cost and capital forecast ranges for 2025 are expressed in "nominal" terms. "Nominal" cash flows are current price term cash flows that have been inflated into future value, using an appropriate "inflation" rate. Estimates assume neither operational or labour interruptions or power disruptions, nor further changes to asset portfolio and/or operating mines and have not been reviewed by AngloGold Ashanti's external auditors. Other unknown or unpredictable factors, or factors outside the Company's control, including inflationary pressures on its cost base, could also have material adverse effects on AngloGold Ashanti's future results and no assurance can be given that any expectations expressed by AngloGold Ashanti will prove to have been correct. Measures taken at AngloGold Ashanti's operations together with AngloGold Ashanti's business continuity plans aim to enable its operations to deliver in line with its production targets. Actual results could differ from guidance and any deviations may be significant. Please refer to the Risk Factors section in AngloGold Ashanti's annual report on Form 20-F for the financial year ended 31 December 2024 filed with the SEC.

⁽⁶⁾		To enhance comparability with industry peers, AngloGold Ashanti has revised its definition of free cash flow, which is a Non-GAAP financial measure. Pursuant to its revised definition, free cash flow is calculated as operating cash flow less capital expenditure. Operating cash flow is defined as net cash flow from operating activities, plus repayment of loans advanced to joint ventures, less dividends paid to non-controlling interests (e.g., dividends paid to non-controlling interests in Sukari (50%), Siguiri (15%) and Cerro Vanguardia (7.5%)). Free cash flow* figures for prior periods (including Q1 2024) have been adjusted to reflect this change in reporting.

*		Refer to "Non-GAAP disclosure" in the Full Announcement for definitions and reconciliations.

2025
Ex-dividend on NYSE		Friday, 30 May
Record date		Friday, 30 May
Payment date		Friday, 13 June

2025
Declaration date		Friday, 9 May
Currency conversion rate for South African rands announcement date		Friday, 23 May
Last date to trade ordinary shares cum dividend		Tuesday, 27 May
Ordinary shares trade ex-dividend		Wednesday, 28 May
Record date		Friday, 30 May
Payment date		Friday, 13 June

2025
Currency conversion date		Friday, 23 May
Last date to trade and to register shares cum dividend		Tuesday, 27 May
Shares trade ex-dividend		Wednesday, 28 May
Record date		Friday, 30 May
Approximate payment date of dividend		Friday, 13 June

2025
Currency conversion date		Friday, 23 May
Last date to trade and to register GhDSs cum dividend		Tuesday, 27 May
GhDSs trade ex-dividend		Wednesday, 28 May
Record date		Friday, 30 May
Approximate payment date of dividend		Friday, 13 June

Key Statistics		Quarter	Quarter
		ended	ended
		Mar	Mar
US Dollar million, except as otherwise noted		2025	2024
Operating review
Gold
Produced - Group ^(1)(2)(3)	- oz (000)	720	591
Produced - Managed operations ^(1)(2)(3)	- oz (000)	657	515
Produced - Non-managed joint ventures ⁽¹⁾	- oz (000)	63	76

Sold - Group ^(1)(2)(3)	- oz (000)	737	625
Sold - Managed operations ^(1)(2)(3)	- oz (000)	670	552
Sold - Non-managed joint ventures ⁽¹⁾	- oz (000)	67	73

Financial review
Gold income	- $m	1,927	1,138
Cost of sales - Group	- $m	1,230	949
Cost of sales - Managed operations	- $m	1,124	869
Cost of sales - Non-managed joint ventures	- $m	106	80
Total operating costs	- $m	833	668
Gross profit	- $m	839	302

Average gold price received per ounce* - Group ⁽¹⁾⁽²⁾	- $/oz	2,874	2,063
Average gold price received per ounce* - Managed operations ⁽¹⁾⁽²⁾	- $/oz	2,875	2,060
Average gold price received per ounce* - Non-managed joint ventures ⁽¹⁾	- $/oz	2,865	2,090
All-in sustaining costs per ounce* - Group ⁽¹⁾⁽²⁾	- $/oz	1,640	1,620
All-in sustaining costs per ounce* - Managed operations ⁽¹⁾⁽²⁾	- $/oz	1,657	1,692
All-in sustaining costs per ounce* - Non-managed joint ventures ⁽¹⁾	- $/oz	1,463	1,070
Total cash costs per ounce* - Group ⁽¹⁾⁽²⁾	- $/oz	1,223	1,181
Total cash costs per ounce* - Managed operations ⁽¹⁾⁽²⁾	- $/oz	1,213	1,232
Total cash costs per ounce* - Non-managed joint ventures ⁽¹⁾	- $/oz	1,325	831

Profit before taxation	- $m	729	167
Adjusted EBITDA*	- $m	1,120	434
Total borrowings	- $m	2,213	2,170
Adjusted net debt*	- $m	525	1,322

Profit attributable to equity shareholders	- $m	443	58
	- US cents/share	88	14
Headline earnings ⁽⁴⁾	- $m	447	58
	- US cents/share	88	14
Net cash inflow from operating activities	- $m	725	252
Free cash flow* ⁽⁵⁾	- $m	403	57
Capital expenditure - Group ⁽¹⁾⁽²⁾	- $m	336	265
Capital expenditure - Managed operations ⁽¹⁾⁽²⁾	- $m	303	240
Capital expenditure - Non-managed joint ventures ⁽¹⁾	- $m	33	25


⁽¹⁾ The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term "non-managed joint ventures" (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.
⁽²⁾ On 22 November 2024, the acquisition of Centamin was successfully completed. Centamin has been included from the effective date of the acquisition.
⁽³⁾ Includes gold concentrate from the Cuiabá mine sold to third parties in Q1 2024.
⁽⁴⁾ The financial measures "headline earnings (loss)" and "headline earnings (loss) per share" are not calculated in accordance with IFRS ^® Accounting Standards, but in accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial measures for purposes of the rules and regulations of the US Securities and Exchange Commission ("SEC") applicable to the use and disclosure of Non-GAAP financial measures.
⁽⁵⁾ To enhance comparability with industry peers, AngloGold Ashanti has revised its definition of free cash flow, which is a Non-GAAP financial measure. Pursuant to its revised definition, free cash flow is calculated as operating cash flow less capital expenditure. Operating cash flow is defined as net cash flow from operating activities, plus repayment of loans advanced to joint ventures, less dividends paid to non-controlling interests (e.g., dividends paid to non-controlling interests in Sukari (50%), Siguiri (15%) and Cerro Vanguardia (7.5%)). Free cash flow* figures for prior periods (including Q1 2024) have been adjusted to reflect this change in reporting.
* Refer to "Non-GAAP disclosure" in the Full Announcement for definitions and reconciliations.
$ represents US Dollar, unless otherwise stated.
Rounding of figures may result in computational discrepancies.

CLEARY ZONE - Drilled 70m SW of GS2421
Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2434	550.8	-90	0	319.1	380.1	61	1.84
				410.2	428.9	18.7	1.6
				453	465.4	12.4	1.48

DOLPHIN ZONE
Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2432	788.2	-70	0	138	141.1	3.1	13.3
				188.1	616.6	428.5	0.9
incl				363.3	616.6	253.3	1.17
incl				363.3	407.8	44.5	1.32
incl				486.5	504.7	18.2	6.82
GS2436	652.9	-90	0	121	132.9	11.9	1.6
				256.9	275.2	18.3	0.99
				410.6	440.7	30.1	1.08
				508.1	646.8	138.7	0.9

WOW ZONE
Hole	Depth	Dip	Azimuth	From	To	Interval	Au	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t	Cut to 90g/t
GS2430	639.2	-90	0	121.9	123.7	1.8	23.1
				270.4	316.1	45.7	0.62
				434.9	461.5	26.6	0.66
				491	501.7	10.7	1.79
GS2431	623	-85	0	111.3	120.8	9.5	2.81
				209	238.1	29.1	1.08
				263	289.9	26.9	0.6
				323	350	27	1.94
				407	518	111	1.73
incl				407	439.8	32.8	2.95
incl				430.5	433.6	3.1	22.0
incl				497	518	21	3.49
incl				512	515	3	19.3
				548	561.1	13.1	0.78
GS2433	654	-90	0	482.2	508.8	26.6	0.82
				523.8	530.1	6.3	4.19
GS2435	653	-85	0	98	155	57	1.07
				196.5	215	18.5	1.17
				254	470	216	1.01
incl				254	317	63	1.43
				558.5	559.8	1.3	20.4

1911 Gold Intersects up to 14.97 g/t Gold over 2.70 m including 71.60 g/t Au over 0.50 m on SAM Southeast Zone at True North

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