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Montage Gold Corp. ("Montage" or the "Company") (TSX: MAU, OTCQX: MAUTF) is pleased to report that all resolutions at today's Annual General Meeting of Shareholders ("Annual Meeting") were duly passed by shareholders, including the appointment of William Lundin and Teitur Poulsen as Non-Executive Directors of the Company, both of whom were nominated by the Board at the Annual Meeting.
Ron Hochstein, Chair of Montage Gold, commented, "We are very pleased to welcome both William Lundin and Teitur Poulsen to the Board of Directors to further support Montage as it executes on its strategy of creating a premier African gold producer. Alongside these appointments, I would like to thank both Richard Clark and David Field for their significant contribution to the business over the years and we wish them continued success for the future."
Mr. Lundin and Mr. Poulsen together bring extensive international resource development and finance experience through longstanding tenures in their roles as Chief Executive Officer of International Petroleum Corporation (TSX:IPCO) and Chief Financial Officer of Lundin Mining Corporation (TSX:LUN), respectively. Mr. Lundin will join the Technical and ESG Committee, and Mr. Poulsen will join both the Audit Committee and the Corporate Governance and Nominating Committee.
Following this announcement, Montage's Board will be comprised of seven members, including Ron Hochstein (Chair), Alessandro Bitelli, Anu Dhir, Jeremy Langford, William Lundin, Teitur Poulsen and Martino De Ciccio (Chief Executive Officer and Non-Independent Director).
ANNUAL GENERAL MEETING RESULTS
A total of 248,996,130 common shares were voted at the meeting, representing 61.75% of the votes attached to all the outstanding common shares. Shareholders voted in favour of each of the items of business at the Annual Meeting, as shown in the table below.
| Table 1: 2026 Annual Meeting voting results | |||||
| VOTES FOR | % FOR | VOTES WITHHELD | % WITHHELD | ||
| 1. | Setting the number of Directors at seven (7) | 248,998,928 | 100.00% | 7,202 | 0.00% |
| 2. | Election of Directors | ||||
| Alessandro Bitelli | 238,908,844 | 95.95% | 10,087,286 | 4.05% | |
| Anu Dhir | 211,395,533 | 84.90% | 37,600,597 | 15.10% | |
| Ron Hochstein | 248,471,845 | 99.79% | 524,285 | 0.21% | |
| Martino De Ciccio | 243,056,931 | 97.61% | 5,939,199 | 2.39% | |
| Jeremy Langford | 248,670,472 | 99.87% | 325,658 | 0.13% | |
| William Lundin | 208,017,034 | 83.54% | 40,979,096 | 16.46% | |
| Teitur Poulsen | 248,989,530 | 100.00% | 6,600 | 0.00% | |
| 3. | Appointment of Auditor | 248,995,105 | 100.00% | 1,025 | 0.00% |
Detailed voting results for the 2026 Annual Meeting are available on the Company's profile on SEDAR+.
ABOUT WILLIAM LUNDIN
Mr. Lundin is President and Chief Executive Officer of International Petroleum Corporation ("IPC"). Prior to assuming the role of Chief Executive Officer, Mr. Lundin served as the Chief Operating Officer for IPC from 2020-2024. Mr. Lundin currently serves on the board of directors of three other public energy companies. Earlier in his career, Mr. Lundin held field roles in exploration and production operations in Canada and Chile. Mr. Lundin also sits on the Boards of ShaMaran Petroleum Corp. and Orrön Energy AB. Mr Lundin is a registered Professional Engineer in the Province of Alberta and holds a Mineral Resource Engineering degree from Dalhousie University.
ABOUT TEITUR POULSEN
Mr. Poulsen has served as Lundin Mining's Executive Vice President and Chief Financial Officer since September 2022. He oversees Lundin Mining's global financial strategy, with deep expertise in capital markets and complex equity and debt transactions, as well as M&A and financial reporting. Before joining Lundin Mining, Mr. Poulsen was Chief Financial Officer of Lundin Energy (formerly Lundin Petroleum) until the company was acquired by Aker BP in 2022 for US$14 billion. He previously served as Chief Financial Officer of Aker BP (formerly Det Norske) and earlier in his career held senior roles in corporate planning, financial modelling and investor relations. Mr. Poulsen holds an MA (Honours) Economics from the University of Aberdeen. He serves on the boards of Vicuña Corp in Canada and P/F Magn and Sp/F Orkufelagid in the Faroe Islands.
ABOUT Montage Gold
Montage Gold Corp. (TSX: 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 Updated Feasibility Study published in 2024 (the "UFS"), the Koné project has an estimated 16-year mine life and sizeable annual production of +300koz of gold over the first 8 years and is expected to enter production in late Q4-2026. The Company has also built a high-quality, multi-asset growth pipeline including the Didievi and Wendé properties in Côte d'Ivoire, and a portfolio of prospective exploration tenements in Mauritania.
QUALIFIED PERSONS STATEMENT
The scientific and technical contents of this press release have been verified and approved by Mr. Peder Olsen, a Qualified Person pursuant to NI 43-101. Mr. Olsen, President and Chief Development Officer of Montage, is a registered Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM).
CONTACT INFORMATION
| For Investor Relations Inquiries: Jake Cain Strategy & Investor Relations Manager jcain@montagegold.com +44-7788-687-567 | For Media Inquiries: John Vincic Oakstrom Advisors john@oakstrom.com +1-647-402-6375 | For Regulatory Inquiries: Kathy Love Corporate Secretary klove@montagegold.com +1-604-512-2959 |
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 Company's objectives of achieving first gold pour in late Q4-2026 through an oxide circuit startup; timing in respect of the completion of construction of various components of the Koné project, the length of construction and of the mining operations at the Koné project; the amount of production at the Koné project; and further information related to exploration programmes and pipeline.
Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that any Forward-looking Statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements, including that the returns from the Koné project will be lower than estimated, that additions to the mineral resources will not be achieved (including the failure to delineate Petit Yao into a high-grade satellite of scale) or that the remaining cost of construction of the Koné project will be higher than estimated, that the updated LOM plan will indicate lower financial returns or production, or that the acquisition of African Gold will not result in any benefits to Montage. Important factors that could cause actual results to differ materially from include uncertainties inherent in the preparation of mineral reserve and resource estimates and definitive feasibility studies, and in delineating new mineral reserve and resource estimates, including but not limited to, assumptions underlying the production estimates not being realized, incorrect cost assumptions, decreases in the price of gold, unexpected variations in quantity of mineralized material, grade or recovery rates being lower than expected, unexpected adverse changes to geotechnical or hydrogeological considerations, or expectations in that regard not being met, unexpected failures of plant, equipment or processes (including construction equipment), delays in or increased costs for the delivery of construction equipment and services, 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, delays in or failure to receive access agreements or amended permits, and other risk factors set forth in the Company's Annual Information Form available at www.sedarplus.ca, 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.
