MONTAGE GOLD ANNOUNCES NOTICE OF ANNUAL GENERAL MEETING ALONG WITH PROPOSED DIRECTOR NOMINEES

Montage Gold Corp. ("Montage" or the "Company") (TSXV: MAU) (OTCQX: MAUTF) announces that it will hold its Annual General and Special Meeting (the "Meeting") on Friday, June 7, 2024 . The Notice of Meeting and Management Information Circular relating to the meeting has been mailed to shareholders and has been filed under the Company's profile at www.sedarplus.ca .

Montage Gold logo (CNW Group/Montage Gold Corp.)

The proposed slate of director nominees will consist of six individuals: Ron Hochstein , Richard P. Clark , Anu Dhir, David Field , Alessandro Bitelli and Martino De Ciccio . If elected, Ron Hochstein will be proposed as the Chair of the Board replacing Peter Mitchell who is not standing for re-election. In addition, Sasha Bukacheva and Hugh Stuart will not be standing for re-election as directors. With the successful transition of the previously announced new management team complete, Hugh Stuart , Kevin Ross , and Adam Spencer will be stepping down from their executive positions over the coming weeks.

Ron Hochstein , proposed Chair of the Board commented: "I would like to thank Peter Mitchell for his contributions and leadership during his time as Chair of the Board. I would also like to thank Sasha and Hugh for their contributions to the board during their tenure as directors. I also extend my gratitude to Hugh, Kevin, and Adam for their assistance during this transition phase for the Company as well as their significant contributions to the success of Montage over the years."

Shareholders as of the record date of April 26, 2024 , will be eligible to vote at the Meeting. Shareholders are encouraged to vote by proxy, which must be received by Endeavor Trust by 10:00 a.m. , Vancouver Time on Wednesday, June 5, 2024 .

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Montage Gold Corp. (TSXV: MAU) is a Canadian-listed company focused on becoming a premier multi-asset African gold producer, with its flagship Koné project, located in Côte d'Ivoire, at the forefront. Based on the Feasibility Study published in 2024, the Koné project ranks as one of the highest quality gold projects in Africa with a long 16-year mine life, low AISC of $998 /oz over its life of mine, and sizeable annual production of +300koz of gold over the first 8 years. Over the course of 2024, the Montage management team will be leveraging their extensive track record in developing projects in Africa to progress the Koné project towards an investment decision, thereby unlocking significant value for all its stakeholders.

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking information and forward-looking statements within the meaning of Canadian securities legislation (collectively, "Forward-looking Statements"). All statements, other than statements of historical fact, constitute Forward-looking Statements. Words such as "will", "intends", "proposed" and "expects" or similar expressions are intended to identify Forward-looking Statements. Forward looking Statements in this press release include statements related to the use of proceeds from the Offering; the final acceptance of the TSX Venture Exchange; the Company's mineral reserve and mineral resource estimates; the timing and amount of future production from the Koné project; expectations with respect AISC of the Koné project; anticipated mine life of the Koné project; and expected recoveries and grades of the Koné project. Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties inherent in the preparation of mineral reserve and resource estimates and definitive feasibility studies such as the Mineral Reserve Estimate and the UFS, including but not limited to, assumptions underlying the production estimates not being realized, incorrect cost assumptions, unexpected variations in quantity of mineralized material, grade or recovery rates, unexpected changes to geotechnical or hydrogeological considerations, unexpected failures of plant, equipment or processes, unexpected changes to availability of power or the power rates, failure to maintain permits and licenses, higher than expected interest or tax rates, adverse changes in project parameters, unanticipated delays and costs of consulting and accommodating rights of local communities, environmental risks inherent in the Côte d'Ivoire, title risks, including failure to renew concessions, unanticipated commodity price and exchange rate fluctuations, risks relating to COVID-19, delays in or failure to receive access agreements or amended permits, and other risk factors set forth in the Company's 2023 AIF under the heading "Risk Factors". The Company undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Montage to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

NON-GAAP MEASURES

This press release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS"), including cash costs and AISC (or "all-in sustaining costs") per payable ounce of gold sold and per tonne processed and mining, processing and operating costs reported on a unit basis. Non-GAAP measures do not have any standardized meaning prescribed under IFRS and, therefore, they may not be comparable to similar measures employed by other companies. The Company discloses "cash costs" and "all-in sustaining costs" and other unit costs because it understands that certain investors use this information to determine the Company's ability to generate earnings and cash flows for use in investing and other activities. The Company believes that conventional measures of performance prepared in accordance with IFRS, do not fully illustrate the ability of mines to generate cash flows. The measures, as determined under IFRS, are not necessarily indicative of operating profit or cash flows from operating activities. The measures cash costs and all-in sustaining costs and unit costs are considered to be key indicators of a project's ability to generate operating earnings and cash flows. Non-GAAP financial measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs, operating profit or cash flows presented under IFRS. Readers should also refer to our management's discussion and analysis, available under our corporate profile at www.sedarplus.ca for a more detailed discussion of how we calculate such measures.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/montage-gold-announces-notice-of-annual-general-meeting-along-with-proposed-director-nominees-302148393.html

SOURCE Montage Gold Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/17/c6524.html

News Provided by Canada Newswire via QuoteMedia

MAU:CA
The Conversation (0)

MONTAGE GOLD ANNOUNCES ANNUAL GENERAL AND SPECIAL MEETING RESULTS

Montage Gold Corp. ("Montage" or the "Company") (TSXV: MAU) (OTCQX: MAUTF) is pleased to announce that all resolutions set forth in the Company's management information circular dated April 26, 2024 were duly passed at the Annual General and Special Meeting held on June 7, 2024 (the "Meeting").

Montage Gold Corp. Logo (CNW Group/Montage Gold Corp.)

As per the nominees set forth, Ron Hochstein , Richard P. Clark , David Field , Alessandro Bitelli , Anu Dhir and Martino De Ciccio were elected as directors of the Company. After the Meeting the following officers were appointed by the Board of Directors:

Non-Executive Chairman

Ron Hochstein

Chief Executive Officer

Martino De Ciccio

President & Chief Development Officer

Peder Olsen

Chief Financial Officer

Glenn Kondo

Incoming Chief Financial Officer, effective
July 1, 2024

Constant Tia

Corporate Secretary

Kathy Love


At the Meeting the shareholders also approved the reappointment of PricewaterhouseCoopers, LLP as the auditors of the Company and the authorization of the Company's Board of Directors to fix the auditors remunerations. The shareholders also approved the Omnibus Equity Incentive Plan.

A total of 102,881,471 common shares were voted, representing 43.03% of the Company's issued and outstanding common shares as at the record date of April 26, 2024. Detailed voting results for the 2024 Annual General Meeting are shown below and are available on SEDAR at www.sedarplus.ca .


Actual Votes
For

Actual Votes
Withheld

Percentage
Votes For

Percentage
Votes Withheld

Appointment of Auditor

102,881,371

100

99.9999 %

0.0001 %

Election of Directors:





i) Richard P. Clark

102,881,471

-

100.00 %

0.00 %

ii) David Field

102,866,471

15,000

99.99 %

0.01 %

iii) Alessandro Bitelli

102,881,470

1

99.999999 %

0.000001 %

iv) Anu Dhir

102,866,471

15,000

99.99 %

0.01 %

v) Ron Hochstein

102,881,471

-

100.00 %

0.00 %

vi) Martino De Ciccio

102,881,471

-

100.00 %

0.00 %

Approval of Omnibus Equity Incentive Plan

96,803,044

6,078,427

94.09 %

5.91 %


Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

ABOUT Montage Gold Corp.

Montage Gold Corp. (TSXV: MAU) is a Canadian-listed company focused on becoming a premier multi-asset African gold producer, with its flagship Koné project, located in Côte d'Ivoire, at the forefront. Based on the Feasibility Study published in 2024, the Koné project ranks as one of the highest quality gold projects in Africa with a long 16-year mine life, low AISC of $998 /oz over its life of mine, and sizeable annual production of +300koz of gold over the first 8 years. Over the course of 2024, the Montage management team will be leveraging their extensive track record in developing projects in Africa to progress the Koné project towards a construction launch, thereby unlocking significant value for all its stakeholders.

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking information and forward-looking statements within the meaning of Canadian securities legislation (collectively, "Forward-looking Statements"). All statements, other than statements of historical fact, constitute Forward-looking Statements. Words such as "will", "intends", "proposed" and "expects" or similar expressions are intended to identify Forward-looking Statements. Forward looking Statements in this press release include statements related to the use of proceeds from the Offering; the final acceptance of the TSX Venture Exchange; the Company's mineral reserve and mineral resource estimates; the timing and amount of future production from the Koné project; expectations with respect AISC of the Koné project; anticipated mine life of the Koné project; and expected recoveries and grades of the Koné project. Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties inherent in the preparation of mineral reserve and resource estimates and definitive feasibility studies such as the Mineral Reserve Estimate and the UFS, including but not limited to, assumptions underlying the production estimates not being realized, incorrect cost assumptions, unexpected variations in quantity of mineralized material, grade or recovery rates, unexpected changes to geotechnical or hydrogeological considerations, unexpected failures of plant, equipment or processes, unexpected changes to availability of power or the power rates, failure to maintain permits and licenses, higher than expected interest or tax rates, adverse changes in project parameters, unanticipated delays and costs of consulting and accommodating rights of local communities, environmental risks inherent in the Côte d'Ivoire, title risks, including failure to renew concessions, unanticipated commodity price and exchange rate fluctuations, risks relating to COVID-19, delays in or failure to receive access agreements or amended permits, and other risk factors set forth in the Company's 2023 AIF under the heading "Risk Factors". The Company undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Montage to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

NON-GAAP MEASURES

This press release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS"), including cash costs and AISC (or "all-in sustaining costs") per payable ounce of gold sold and per tonne processed and mining, processing and operating costs reported on a unit basis. Non-GAAP measures do not have any standardized meaning prescribed under IFRS and, therefore, they may not be comparable to similar measures employed by other companies. The Company discloses "cash costs" and "all-in sustaining costs" and other unit costs because it understands that certain investors use this information to determine the Company's ability to generate earnings and cash flows for use in investing and other activities. The Company believes that conventional measures of performance prepared in accordance with IFRS, do not fully illustrate the ability of mines to generate cash flows. The measures, as determined under IFRS, are not necessarily indicative of operating profit or cash flows from operating activities. The measures cash costs and all-in sustaining costs and unit costs are considered to be key indicators of a project's ability to generate operating earnings and cash flows. Non-GAAP financial measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs, operating profit or cash flows presented under IFRS. Readers should also refer to our management's discussion and analysis, available under our corporate profile at www.sedarplus.ca for a more detailed discussion of how we calculate such measures.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/montage-gold-announces-annual-general-and-special-meeting-results-302167862.html

SOURCE Montage Gold Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/10/c4537.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

MONTAGE GOLD RECEIVES ENVIRONMENTAL PERMIT

FOR THE DEVELOPMENT OF ITS KONÉ PROJECT

HIGHLIGHTS:

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

NOVAGOLD Welcomes Peter Adamek as New Chief Financial Officer

NOVAGOLD RESOURCES INC. ("NOVAGOLD" or the "Company") (NYSE American, TSX: NG) is pleased to announce the appointment of Peter Adamek as Vice President and Chief Financial Officer (CFO) of the Company effective July 15, 2024. The appointment of Mr. Adamek comes following the retirement of NOVAGOLD's long-serving CFO, David Ottewell, capping off a successful career in the mining sector. Mr. Ottewell will stay on until July 15, 2024 to ensure a seamless transition.

"On behalf of NOVAGOLD, I wish to extend my sincere gratitude to David for his loyalty to the Company over the last 12 years," said Greg Lang, President and Chief Executive Officer. "David has been instrumental in developing our finance strategy, building our finance team, and maintaining a strong balance sheet during his tenure — positioning the Company to continue to advance Donlin Gold up the value chain, while generating significant value for our stakeholders. David has been a valuable team member and a dear colleague over the years, and I thank him for his skillful leadership and remarkable contribution to our work. We wish him well in his retirement."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

B2Gold Announces Initial Inferred Mineral Resource Estimate for the Springbok Zone of the Antelope Deposit at the Otjikoto Mine in Namibia

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce an initial Inferred Mineral Resource Estimate for the Springbok Zone, the southernmost shoot of the recently discovered Antelope deposit, located approximately three kilometers ("km") south of the Otjikoto Phase 5 open pit at the Otjikoto Mine in Namibia. All dollar figures are in United States dollars unless otherwise indicated.

Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Three gold bullion bars on top of USA flag.

Trump vs. Biden: How Could the US Election Affect the Gold Price?

The US election is quickly approaching, and the second face off between current president Joe Biden and former president Donald Trump promises to be a much-discussed race to the finish line on November 5.

In 2020, Biden presented himself as a candidate who would bring Republicans and Democrats together, challenging Trump’s divisive and populist rhetoric of making America great again. Trump ultimately lost that election, but recent polling shows that either candidate could still pull ahead in the months leading up to the vote.

In the resource sector, market participants are starting to wonder how the presidential race may affect the gold price. While the yellow metal is driven by diverse factors, the US — and by extension its leader — impacts many of them, including the global geopolitical environment, interest rates and the performance of the US dollar.

Keep reading...Show less
EMU NL (ASX:EMU)

EMU NL


Keep reading...Show less
Steve Robertson, president of Prismo Metals.

Prismo Metals Poised to Benefit from Looming Copper Crunch, Exec Says

The copper market's current state presents both a challenge and an opportunity for explorers like Prismo Metals (CSE:PRIZ,OTCQB:PMOMF,FWB:7KU), Steve Robertson, the company’s new president, told the Investing News Network.

A forecast supply deficit looms on the horizon and is expected to take full effect by 2025, prompting a sense of urgency among copper producers and explorers alike.

"For quite some time now ... there's been a deficit, this forecast for 2025," Robertson said, pointing to a critical market juncture.

Keep reading...Show less

Latest Press Releases

Related News

×