Montage Gold Corp. · TSX:MAU
Montage Gold — Technical Presentation (September 2022)
23 slides from Montage Gold's technical presentation, September 2022
Slide 1: The Koné Gold Project: Feasibility Study Results
TSX.V MAU OTC MAUTF The Koné Gold Project: Feasibility Study Results February 2022 SUPPLEMENTAL PRESENTATION SEPTEMBER 2022
Slide 2: Cautionary Language
Cautionary Language Introduction Montage Gold Corp. (“Montage” or the “Company”) 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 curr
Slide 3: Cautionary Language
Cautionary Language Forward-looking Information Although Montage has attempted to identify important factors, assumptions and risks that could cause actual results to differ materially from those contained in forward-looking statements, there may be others that cause results not to be as anticipated
Slide 4: Introduction to Montage
Exploration License Syama Application N Introduction to Montage Sissingué Wahgnion 100km Bagoe Tongon Doropo Focused on Gold in Côte d’Ivoire Korokaha Gold § Highly prospective geology; strong support for mining Project § 6 gold mines in production; 2 in construction ABC § Safe and secure place to w
Slide 5: DFS Highlights (Feb 2022)
DFS Highlights (Feb 2022) Significant leverage to gold price Base Case at $1,600/oz gold price +13% in gold price $746 million 3.06 million oz à +40% to NPV $1,600 70% After-Tax NPV (100% basis) LOM Total Production 61% $1,400 60% 54% 35% 207,000 oz After-Tax IRR Avg Annual Production $1,200 47% 50%
Slide 6: Simplicity with Scale
Simplicity with Scale Geological Attributes: § Single mineralized domain § Over 200m true width § 50° dip of orebody § Consistent mineralization § Discrete higher-grade intervals Economic Impact: § Simple mining § +100% conversion of inferred resource § Probable Reserves mirror the PEA pit § Low-cos
Slide 7: Ultra-Low Strip and Soft Rock
Ultra-Low Strip and Soft Rock LOM STRIP RATIO (W:O) FRESH ROCK HARDNESS (BWI KWH/T) Strong economics driven by: § Economies of Scale Koné (Montage) 0.90 Koné (Montage) 11.4 § Low strip ratio Kiaka (B2Gold) Block 14 (Orca Gold) § Low rock hardness Abujar (Tietto) Namdini (Cardinal) Block 14 (Orca Gol
Slide 8: Optimizations Reduce Capital and Operating Costs
Optimizations Reduce Capital and Operating Costs Tailings Re-design § In-pit tailings deposition after year 9 § Reduces TSF by 40% § Eliminates $146M in sustaining capital 1 40% Reduction in TSF § Reduces closure costs by ~$10 million 2 $153 million reduction in sustaining capital Revised Comminutio
Slide 9: The Results: A Significant Improvement Over The PEA
The Results: A Significant Improvement Over The PEA 272,000 oz 207,000 oz 3,056,000 oz OPERATING COSTS DFS PEA Change Avg Annual Production Avg Annual Production Total Production (First 5 Years) (Life of Mine) (Life of Mine) Mining Cost $/t, mined $2.73 $2.90 Processing (incl rehandle) $/t, processe
Slide 10: Working with Experts
Working with Experts Lycopodium has been working on the KGP RECENT LYCOPODIUM PROJECTS IN WEST AFRICA since 2018 Project Company Location Schedule* Budget* (ahead/on) (under/on) They have completed DFS and acted as Houndé Endeavour Burkina Faso Ahead Under EPCM contractor on 95% of gold mines in Ity
Slide 11: Ideal Location
Te ne m en tB Ideal Location ToudianForest ou nd ar y Reserve North Pit § Asphalt road within 300m of plant site § Strong local relationships South Pit § Minimal resettlement expected Water Pipeline Waste Dump Plant Stockpiles Water Storage Waste Dump Fadiadougou Village Solar Camp Koné Plant Array
Slide 12: Consolidation Changes Everything
Syama 6.1Moz Tabakoroni 1.5Moz Consolidation Changes Everything Sissingué 1.4Moz Waghnion Fimbiasso 0.3Moz 2Moz Acquisition of Mankono-Sissédougou from Barrick and Endeavour (area in red on map) § Barrick and Endeavour to own 9.7% and 4.1% of Montage Bagoé 0.5Moz Tongon 2,258km 2 Gold District Over
Slide 13: Exploration Potential Prior to Consolidation
Key to Geology SN_2 SN_1 Basement (migmatites) Exploration (new) (new) Birimian Sediments Birimian Volcanics Potential Prior Diorite Late Intrusives to Consolidation Areas untested to date Sampling in Progress Petit Yao target 8km east of Koné deposit § Satellite pit potential § Resource definition
Slide 14: Now with 14 drill-ready targets
Key to Geology SN_2 SN_1 Sissédougou Basement (migmatites) • SISRC12_66: 60m at 2.70g/t Now with 14 (new) (new) • SISDD11_06: 34.6m at 2.08g/t Birimian Sediments and 18.8m at 2.30g/t Birimian Volcanics • SISDD11_09: 23.0m at 2.14 g/t drill-ready Diorite Late Intrusives Yeré North • YETR001: 38.7m at
Slide 15: District Consolidated, High-Grade, Aggressive Exploration
District High-Grade Aggressive Consolidated Strategy Exploration Planned 2,258km2 Land Package; Positions KGP for Significant Initial 25,000m drilling on 85km strike-km Improvement >10 targets Strong Shareholder Value Backing Creation Perseus, Barrick, Revised economic study to Lundin, Endeavour fol
Slide 16: Hugh Stuart, President
Hugh Stuart President hstuart@montagegoldcorp.com TSX.V MAU Adam Spencer EVP Corporate Development MontageGoldCorp.com aspencer@montagegoldcorp.com
Slide 17: Appendices
Appendices FEBRUARY 2022 TSX.V MAU Montage Gold Corp. 17
Slide 18: Strong Shareholder Backing
Strong CAPITALIZATION Current Pro Forma Shareholder Basic Shares Outstanding Options Outstanding2 109,790,004 4,600,000 160,504,290 4,600,000 Backing Fully-Diluted Shares Outstanding 114,390,004 165,104,290 PRO FORMA OWNERSHIP 1 Close Price (TSXV:MAU) Sep 16, 2022 C$0.57 20.6% Basic Market Cap C$62.
Slide 19: Local Impact & Community Relations
Local Impact & Community Relations Montage Gold is backed by strong community support from the § Water wells in both Fadiadougou and Batogo surrounding villages of Fadiadougou, Batogo and Manabri. In § New classrooms constructed in Fadiadougou addition to being the largest employer in the area, Mont
Slide 20: Low Cost, Reliable Green Power
Low Cost, Reliable Green Power On-site power generation preferred to grid § Lower capex and opex Hybrid LNG and Solar plant § Average annual demand 37MW § Dedicated and reliable § Solar to account for 16% of power demand Environmentally responsible § Solar contribution reduces CO2 emissions by 23kt/
Slide 21: Pre-Production Capital & Operating Costs
Pre-Production Capital & Operating Costs Life-of-Mine Owner Costs Contingency Mining CASH COSTS & AISC $t/processed $/payable oz $30.3M $50.5M $39.6M Mining $4.95 $261 Processing $8.04 $424 EPCM $39.4M G&A $0.93 $49 Resettlement $9.5M Camp $543.9M Royalties $1.97 $104 $3.3M Initial Capital Costs Tai
Slide 22: Mineral Reserves and Resources
Mineral Reserves and Resources KONÉ – FEBRUARY 2022 MINERAL RESERVE ESTIMATE Oxide Transition Fresh Total Pit Classification Mt Au g/t Au Moz Mt Au g/t Au Moz Mt Au g/t Au Moz Mt Au g/t Au Moz South Pit Probable 9.8 0.57 0.18 7.9 0.56 0.14 141.4 0.67 3.05 159.1 0.66 3.39 North Pit Probable 0.9 0.47
Slide 23: Disclosure Regarding Mineral Reserves and Resources
Disclosure Regarding Mineral Reserves and Resources February 2022 Koné Mineral Reserve Estimate § The Mineral Reserves are classified according to the “CIM” definitions with an effective date of February 14, 2022. § All Mineral Reserves were classified as Probable based on the Indicated Mineral Reso
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