Montage Gold Corp. Appoints Richard P. Clark as CEO

Montage Gold Corp. is pleased to announce the appointment of Richard P. Clark as Chief Executive Officer of Montage, with Hugh Stuart continuing in the role of President. The changes are effective as of August 29, 2022, and both Mr. Clark and Mr. Stuart will remain on the Board of Directors of the Company.

Richard P. Clark, Montage CEO, commented, “I am excited and honored to be taking on the role of CEO of Montage at this time. Hugh Stuart and his team have done an impressive job of discovering and advancing the Koné Gold Project (“KGP”) to this point.

“Montage has successfully executed on everything it set out to do since its IPO in October 2020, transforming a modest Inferred Resource into a 3.42Moz Mineral Reserve. With the acquisition of the Mankono-Sissédougou Joint Venture from Barrick Gold and Endeavour Mining, Montage can materially enhance the KGP through exploration and definition of high-grade satellite feed from the expanded project area. We are confident of closing the transaction with Barrick and Endeavour in the near term and we will immediately initiate an aggressive exploration program.

“My decision to take on a more active and strategic role with Montage supports the Company’s business plan allowing Hugh and his team to focus on adding resources in and around Koné to maximise the resource potential of this prolific gold region of Côte d’Ivoire. Following a period of exploration, we intend to complete a revised feasibility study from which we will commence serious discussions on development and financing options.

“We are very fortunate in this challenging market environment to have the strong support of our shareholders. This support is based upon a business and execution plan which has delivered value to shareholders in our Group for many years over many projects. Coming off the recent successful Orca Gold/Perseus Mining transaction, I look forward to achieving a similar result for Montage shareholders and continuing our impressive success story.”

Hugh Stuart, Montage President, commented, “Rick and I have worked together for 18 years, from the early days of Red Back Mining and then Orca Gold Inc. in Sudan. Our management collaboration, supported by the financial and strategic support of the Lundin Group, has led to impressive value for our shareholders and we very much look to continue this success for Montage shareholders. The acquisition of the Mankono-Sissédougou joint venture from Barrick and Endeavour is a game changer for Montage which we fully intend to maximise to its full value. We look forward over the coming months to reporting on our progress in proving the potential of our Koné Gold Project combined with Mankono-Sissédougou, as being one of the next great mining districts in West Africa.”

ABOUT MONTAGE GOLD CORP.

Montage is a Canadian-based precious metals exploration and development company focused on opportunities in Côte d’Ivoire. The Company’s flagship property is the Koné Gold Project, located in northwest Côte d’Ivoire, which currently hosts a Probable Mineral Reserve of 161.1Mt grading 0.66g/t for 3.42M ounces of gold. The Company released the results of a definitive feasibility study (the “DFS”) on the Koné Gold Project on February 14, 2022, outlining a 15-year gold project producing 3.06M ounces of gold with average annual production of 207koz, and peak production of 320koz. Montage has a management team and Board with significant experience in discovering and developing gold deposits in Africa.