Slide 1: Site Visit Presentation – Koné and Didievi Projects
TSX MAU OTCQX MAUTF montagegold.com SITE VISIT PRESENTATION KONÉ AND DIDIEVI PROJECTS JUNE 2026
Slide 2: Disclaimer
DISCLAIMER FORWARD-LOOKING INFORMATION This presentation contains “forward-looking information” (referred to herein as “forward-looking statements”) under the provisions of applicable Canadian securities legislation regarding Montage and the mineral properties of Montage located in Côte d'Ivoire (th
Slide 3: Our Portfolio
OUR PORTFOLIO Creating a premier multi-asset African gold producer KONÉ PROJECT Construction Stage ▪ Ongoing initiatives to increase production above 300kozpa1 ▪ On-budget and ahead of schedule ▪ First gold pour in late Q4-2026 through an oxide circuit ▪ Hard-rock comminution circuit on-schedule for
Slide 4: Key Takeaways
KEY TAKEAWAYS Executing on our strategy of creating a premier African gold producer and delivering value for all our stakeholders First gold pour from the oxide circuit targeted for late Q4-2026, with Koné construction completion of the hard rock circuit well on-schedule for Q2-2027; rapidly advanci
Slide 5: Section 1: Regional Benchmarking
Section 1: REGIONAL BENCHMARKING
Slide 6: Production Growth
PRODUCTION GROWTH West Africa is the fastest-growing gold producing region globally +102% West African gold production growth 16Moz Côte d’Ivoire Mali Guinea Other 14% West Africa Production Burkina Faso Senegal Ghana % of Mine Supply Growth (2013 – 2025) 14Moz 12% +421% West African Mine Supply (ou
Slide 7: Production by Country
PRODUCTION BY COUNTRY West Africa is the largest global gold producing region Annual gold production by region West Africa has become the In millions of ounces, for 2025 largest gold producing region globally due to its significant 16.0Moz exploration potential and Senegal favourable mining regimes
Slide 8: Discoveries by Country
DISCOVERIES BY COUNTRY West Africa ranks 1st for discoveries over past decades Gold discoveries by region The West African region is For the period between 2010-2024 (In millions of ounces) significantly under-explored compared to other regions 70 West Africa Moz Ecuador 38.8Moz Canada 37.3Moz #1 Ra
Slide 9: Discovery to Production
DISCOVERY TO PRODUCTION Côte d’Ivoire boasts the quickest timelines from discovery to production Discovery to production by country The West African region is supportive of extractive industries Average lead time to production since 1990 10 given the importance to West African economies Cote d’Ivoir
Slide 10: Côte d'Ivoire in Context
CÔTE D'IVOIRE IN CONTEXT Among the fastest growing African economies ECONOMY POLITICAL 32.9m 11.2m $25.6 B Strong international ties through memberships Population Labour Force 2024 Exports of ECOWAS, United Nations, the African Union, Cocoa 27.1% and the regional West African Economic and Monetary
Slide 11: Ivorian Mine Construction Benchmarking
IVORIAN MINE CONSTRUCTION BENCHMARKING Koné will be the largest gold mine in Côte d’Ivoire Koné Abujar Lafigué Ity Yaouré Tongon Bonikro Agbaou Séguéla Sissingué Plant Initial Capacity 11.0 Mtpa Potential to improve with process plant design enhancements 5.4 Mtpa 4.0 Mtpa 4.0 Mtpa 3.8 Mtpa 3.6 Mtpa
Slide 12: Benchmarking Across West African Mines
BENCHMARKING ACROSS WEST AFRICAN MINES Koné low strip ratio is a key advantage Benchmarking across West African mines INSIGHTS: Head Grade, Strip Ratio, Strip-Adjusted Grade, g/t of ore waste:ore g/t moved (ore+waste) › Koné ranks at the low end of Segilola 3.19 Koné LOM 1.18 Segilola 0.46 operating
Slide 13: Benchmarking Across West African Mines
BENCHMARKING ACROSS WEST AFRICAN MINES Koné soft ore and scale drive lower unit costs Benchmarking across West African mines INSIGHTS: Ore Hardness, Processing Rate, AISC per Tonne Processed Bond work index in kWh/t Mtpa › Koné ore take less power to grind Koné LOM 10.7 Tarkwa 14.9 Koné LOM 21.5 Nam
Slide 14: Section 2: Koné Project Snapshot
Section 2: KONÉ PROJECT SNAPSHOT
Slide 15: Koné Project History
KONÉ PROJECT HISTORY New management appointed in February 2024 2008 -2016 2017 -2020 2020 -2022 2024 + 2008: Application for Koné 2017: Orca Gold acquires 2020: Montage Gold IPOs on TSX.V; Jan 2024: Updated Feasibility Study exploration permit submitted Koné exploration permit from Conducted 20,000
Slide 16: Koné Project
KONÉ PROJECT Long-life and low AISC asset of scale 16 years 301,000oz Mine Life based on Avg. Production the 2024 UFS (Yrs. 1-8) in 2024 UFS 4.9Moz +21% 6.3Moz 2024 M&I Resources1 2026 M&I Resources2 (2 Deposits) (12 Deposits) 4.0Moz 2,130km2 Probable Reserves1 Exploration in the 2024 UFS package3 $
Slide 17: Koné Project Benchmarking
KONÉ PROJECT BENCHMARKING Provides a foundation upon which to build a major gold company Benchmarking across West African mines AISC, $/oz 2,750 Bibiani Damang 2,500 Akyem Agbaou Tongon Koné will rank as a 2,250 high quality West Sissingue Mana Siguiri African mine once in Iduapriem Asanko Obuasi Ta
Slide 18: Koné Project Benchmarking
KONÉ PROJECT BENCHMARKING Koné is one of the largest gold projects currently in construction Average annual production for gold mines in construction 353koz Single asset company Potential to increase with Multi-asset company higher grade discoveries 301koz 280koz 257koz 260koz 240koz 200koz 200koz 1
Slide 19: Koné Project Production Profile
KONÉ PROJECT PRODUCTION PROFILE Long-life and low AISC asset of scale Koné Project 2024 Updated Feasibility Study life of mine plan See next page for ongoing initiatives to improve production profile Current mine plan is only Production AISC ($/oz) Head Grade (g/t) based on the Koné and Gbongogo Mai
Slide 20: Koné Project Initiatives to Unlock Value
KONÉ PROJECT INITIATIVES TO UNLOCK VALUE Higher-grade material whilst improving flexibility and efficiencies Integration of higher-grade material Strategic operational flexibility from the onset of production with improved efficiency Higher-Grade Grade Control Process Plant Oxide Owner Discoveries D
Slide 21: Our Construction Approach
OUR CONSTRUCTION APPROACH Self-performed construction tasks and a proven team Proven Team EPCM contract was awarded to Lycopodium Minerals, who have been working on the Koné Gold Project since 2018 Track record of building multiple projects across Côte d’Ivoire and West Africa more They have complet
Slide 22: Workforce and Training
WORKFORCE AND TRAINING Montage has rapidly ramped-up construction activities Employees Contractors INSIGHTS: Total workforce Hours worked Training hours completed 3,529 ppl › Montage has rapidly ramped 420 ppl 2.2M hrs 9.2M hrs 7.8k hrs 19.8k hrs up construction of the Koné project due to the availa
Slide 23: Capital Costs
CAPITAL COSTS Benefitting from existing infrastructure and minimal relocation Koné Project capital cost breakdown ` Construction budget and spend (Figures as published on May 14, 20262) Processing Plant Contingency $8m Capital Disbursed $22m $25m as at 31-Mar 26 Mining $19m $25m Capital Committed EP
Slide 24: Rapidly Advancing Construction
RAPIDLY ADVANCING CONSTRUCTION First gold pour expected in late Q4-2026 Work Stream Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Q4-26 Q1-27 Q2-27 Tailings Dam & Water Dams Tailings Dam * * * * Water Storage & Dam * * Construction Power Supply * * * * * Site Infrastructure * * * * * * * Earth works & C
Slide 25: Section 3: Construction Progress
Section 3: CONSTRUCTION PROGRESS
Slide 26: Project Location, Access, Supply Chain
PROJECT LOCATION, ACCESS, SUPPLY CHAIN Direct access from Abidjan by paved highway Koné site logistics Port access INSIGHTS: Direct access to port › The Koné project is located approximately via paved highway 350km northwest of Yamoussoukro, the capital of Côte d'Ivoire › The project is endowed with
Slide 27: Project Site Layout
PROJECT SITE LAYOUT Key infrastructure immediately available Water Grid power In-pit tailings pipeline streamlines disposal to run alongside permitting & after year 8 the haul road reduces mitigates risk sustaining capital MAGNIFIED VIEW 27
Slide 28: Gbongogo Haul Road and River Crossing
GBONGOGO HAUL ROAD AND RIVER CROSSING 38km laterite road connecting the Gbongogo area to the Koné plant 38km INSIGHTS: Gbongogo Pit › The Gbongogo haul road is approximately 38km in length and traverses a sparsely populated area between the Koné and Koné Mill Gbongogo Main deposits › The road has be
Slide 29: River Abstraction
RIVER ABSTRACTION Commissioned and fully operational INSIGHTS: › Water sourced from the nearby Marahoué river, from pit dewatering and a supplementary borefield › The river abstraction facility is located River Abstraction Booster Station approximately 26km north of the Water Storage Facility (“WSF”
Slide 30: Dolorougo-Kaha Relocation
DOLOROUGO-KAHA RELOCATION Improving living standards and empowering local entrepreneurs +100 Community houses Schools and teacher housing INSIGHTS: › Construction was completed in Q4- 2025, whilst the formal handover of Community centres and public Multi-faith places of worship markets homes to affe
Slide 31: Gbongogo Mining Services Area
GBONGOGO MINING SERVICES AREA Mining service area to support mining operations across satellites INSIGHTS: Gbongogo MSA › Construction of the Gbongogo Mine Services area continues to progress on schedule › The service area hosts offices, clinics, restaurants and change Gbongogo South Drilling Area M
Slide 32: Site Infrastructure Overview
SITE INFRASTRUCUTRE OVERVIEW Project layout N Koné South Pit Magazine Storage A5 National Road Gbongogo Haul Road Civils Yard Core Shed Water Storage Facility Hard-rock Comminution Circuit Oxide Circuit Mine Services Area Main Gate Electrical Substation Wet Process Plant Area Reagents Sheds Admin Bu
Slide 33: Permanent Camp
PERMANENT CAMP Well-equipped camp accommodates 400+ people 400+ person Accommodation INSIGHTS: › The permanent camp construction is complete, with all permanent rooms fully fitted and available for use. Remaining workstreams include landscape gardening, which will advance during the rainy season. ›
Slide 34: Water Storage Facility
WATER STORAGE FACILITY Completed in Q3-2025 7.2M m3 Storage Capacity INSIGHTS: › The Water Storage Facility is complete and is already holding water › Total capacity of 7.2 million m3 › Completion of the Water Storage Facility on schedule was a critical path item for 2025, thereby enabling the proje
Slide 35: Site Airstrip
SITE AIRSTRIP Airstrip at Koné to provide access for personnel and key supplies 1.5hrs Koné INSIGHTS: › The airstrip has been completed and is Abidjan now fully operational. Aircraft hanger installation is due to commence imminently › Approval for the construction of the airstrip was received by the
Slide 36: Tailings Storage Facility
TAILINGS STORAGE FACILITY TSF facility to be supplemented with an in-pit tailings solution 91Mt LOM Capacity INSIGHTS: › The Tailings Storage Facility (“TSF”) is constructed as a single cell, confined by a cross-valley embankment, with scheduled annual raises › The TSF basin lining of high-density p
Slide 37: 225kV Grid Connection and Substation
225kV GRID CONNECTION AND SUBSTATION Leveraging Côte d’Ivoire’s natural gas and hydroelectric generation INSIGHTS: 20km Koné Mill › Construction of the 33kV overhead power line to the camp and river abstraction and processing plant main area is nearing CIE Power Line completion, with all towers erec
Slide 38: Simplified Processing Plant Flowsheet
SIMPLIFIED PROCESSING PLANT FLOWSHEET Nameplate capacity of 11.0 Mtpa on both fresh rock and oxide feed Oxide Circuit 38
Slide 39: Process Plant Optimisations
PROCESS PLANT OPTIMISATIONS Process plant design enhancements already implemented UFS Processing Plant Parameters1 Subsequent Optimisations Primary and closed-circuit secondary crushing using a gyratory Primary crusher has been upgraded with 33% extra power crusher Metso 54/75 and two cone crushers
Slide 40: Koné Project Oxide Circuit
KONÉ PROJECT OXIDE CIRCUIT Improving flexibility and simplifying stockpile management Oxide Circuit Benefits INSIGHTS: › Construction of an oxide circuit was completed in Q2-2026 › The +11mtpa oxide circuit will consist of a sizer Optionality to bring forward the first gold pour and reduce and conve
Slide 41: Processing Plant Layout
PROCESSING PLANT LAYOUT Prioritising construction workstreams to allow for earlier gold pour INSIGHTS: › Key process plant achievements include completion of all tanks erected on the first CIL train, and earthworks and concrete pours on the ball mill foundation and pre- ! leach and tailings thickene
Slide 42: Construction Progress
CONSTRUCTION PROGRESS Overview of key processing plant infrastructure Oxide ROM Pad Oxide Sizer Substation Event Pond Cyclone Clusters Water Services Pre-Leach Thickener Tailings Thickener Gold Room and Electrowinning Storage Sheds CIL Trains Ball Mill Reagents Elution Columns Site Office Note: Cons
Slide 43: Construction Progress
CONSTRUCTION PROGRESS Oxide circuit progress Ball Mill Installation and Cyclone Clusters Oxide Sizer Oxide Sizer Conveyor Gold Room and Electrowinning Note: Construction progress and photos as of June 2026, unless otherwise stated 43
Slide 44: Construction Progress
CONSTRUCTION PROGRESS Hard-rock comminution circuit Primary Koné Mine Crusher Services Area Secondary Crushing Area Secondary Crushing and HPGR Oversize HPGR Area Note: Construction progress and photos as of June 2026, unless otherwise stated 44
Slide 45: Owner-Operated Mining Solution
OWNER-OPERATED MINING SOLUTION Optimising the project through an owner-operated mining strategy # Units to be purchased INSIGHTS: › Owner-mining model selected to optimize long-term costs and maintain optimal mine- planning flexibility, positioning Montage to 40 6 8 cost-effectively and efficiently
Slide 46: Koné Deposit Increased in Grade and Size
KONÉ DEPOSIT INCREASED IN GRADE AND SIZE Advanced grade control derisked the first 18 months of production Koné deposit 2025 drilling intercepts INSIGHTS: › Koné deposit M&I Resources have increased by 292koz to 4.63Moz while Inferred Resources have increased by 859koz to 1.26Moz, as compared to the
Slide 47: Koné Deposit Structural Controls
KONÉ DEPOSIT STRUCTURAL CONTROLS Detailed structural analysis Note: Structural analysis is interpretive only. For further information regarding the Koné deposit, please refer to disclosures regarding Mineral Reserve and Mineral Resource Estimates in appendix. 47
Slide 48: Koné Deposit – Grade Control
KONÉ DEPOSIT – GRADE CONTROL Koné deposit - 370m RL level plan view of block models Note: For further information regarding the Koné deposit, please refer to disclosures regarding Mineral Reserve and Mineral Resource Estimates in appendix. 48
Slide 49: Koné Deposit
KONÉ DEPOSIT Simple, wide orebody with low strip ratio Koné deposit cross section looking northeast INSIGHTS: 500 meters › True width >300 meters › Low-cost, low-risk bulk mining › Clean metallurgy with low reagent consumption › LOM strip ratio of 1.01:1 under the Updated Feasibility Study › Soft or
Slide 50: Gbongogo Main Deposit
GBONGOGO MAIN DEPOSIT High-grade satellite pit with a derisked production start Gbongogo Main deposit recent intercepts INSIGHTS: › Gbongogo Main deposit Indicated Resources have increased by 263koz to 783koz and Inferred Resources increased by 41koz to 41koz, as compared to the 2024 UFS › Indicated
Slide 51: Gbongogo Main Deposit
GBONGOGO MAIN DEPOSIT Significantly enhanced grade distribution resolution compared to UFS 2024 UFS “MIK” Resource Block Model 2026 “OK” Resource Block Model INSIGHTS: › The transition from a Multiple Indicator Kriging (“MIK”) resource estimation model to Ordinary Kriging (“OK”) modelling has improv
Slide 52: Wheaton Stream
WHEATON STREAM Exploration upside retained as stream is only on two deposits Wheaton Stream Area of Interest INSIGHTS: › Area of Interest is the Koné and Gbongogo deposits, based on a US$2,500/oz pit-shell, plus a 500-meter boundary › Montage retains significant exploration upside as more than 50 ex
Slide 53: Mineral Reserves and Resources
MINERAL RESERVES AND RESOURCES 11 satellite deposits add higher grade resources Koné Project – January 2024 Mineral Reserve Estimate1 INSIGHTS: RESERVE OXIDE TRANSITION FRESH TOTAL PIT CLASSIFICATION › Exploration efforts are MT AU G/T AU MOZ MT AU G/T AU MOZ MT AU G/T AU MOZ MT AU G/T AU MOZ focuse
Slide 54: Metallurgical Testwork Summary
METALLURGICAL TESTWORK SUMMARY Good gold recoveries with low reagent consumptions The testwork program demonstrated that the mineralization is amenable to direct tank carbon in pulp cyanide leaching with good gold recoveries, low reagent consumptions and medium-low resistance to grinding, providing
Slide 55: Section 4: Exploration Upside
Section 4: EXPLORATION UPSIDE
Slide 56: Regional Geological Description
REGIONAL GEOLOGICAL DESCRIPTION Koné project overview REGIONAL GEOLOGY DESCRIPTION › The Koné Project lies within the Birimian Baoulé-Mossi domain of the West African Craton › Structural intersection of the Senoufo belt (hosting Tongon and Wahgnion mines) and the southern extension of the Syama stru
Slide 57: Koné Project Exploration Potential
KONÉ PROJECT EXPLORATION POTENTIAL Over 340,000 meters of drilling since the UFS was published in 2024 Koné permitted exploration land package Completed Exploration Programme: › 256,000 meters of exploration and grade control drilling conducted since the UFS was published in 2024: − Achieved the pre
Slide 58: Proven Exploration Methodology
PROVEN EXPLORATION METHODOLOGY Exhaustive geological review to screen and rank 50+ exploration targets Ranked exploration target pipeline INSIGHTS: Koné, › Well-established and tested methodology based on a Gbongogo Ore Reserves (2) systematic approach to prioritise exploration efforts by Main weigh
Slide 59: Several Targets Within the Permitted Area
SEVERAL TARGETS WITHIN THE PERMITED AREA Discoveries located near the haul road Koné permitted mining area and exploration targets INSIGHTS: › Mining permits cover a large total area of 357km2 which encompasses 8 deposits with Mineral Resources, including the Koné, Gbongogo Main, Gbongogo South, Som
Slide 60: Petit Yao Deposit
PETIT YAO DEPOSIT High-grade satellite within 7km of the Koné processing plant Petit Yao plan view INSIGHTS: › Maiden M&I resource of 102koz at 1.51 g/t Au, and Inferred Resource of 391koz at 1.28 g/t Au reported in June 2026 › Further in-fill and step-out drilling being prioritised on the deposit w
Slide 61: Gbongogo-Koroutou Trend
GBONGOGO-KOROUTOU TREND Over 24 exploration targets along a 15km strike INSIGHTS: Gbongogo-Koroutou Trend plan view › Highly prospective geological corridor ~15km in length, supported by regional structures and extensive soil anomalies › The trend is defined by a highly resistive, chargeable and mag
Slide 62: Gbongogo South Deposit
GBONGOGO SOUTH DEPOSIT High-grade intercepts show Gbongogo main extension potential Gbongogo South plan view INSIGHTS: › ~250 metres south of the Gbongogo main pit › Direct access to the planned haul road › Drilling confirmed the continuity of mineralisation from surface up to 100 meters depth over
Slide 63: Gbongogo South Extension Potential
GBONGOGO SOUTH EXTENSION POTENTIAL Multiple higher grade ore shoots identified Gbongogo South long section Note: Please refer to disclosures regarding Mineral Reserve and Mineral Resource Estimates in appendix. 63
Slide 64: Koban North Deposit
KOBAN NORTH DEPOSIT Remains open along strike and at depth with a northern extension Koban North plan view INSIGHTS: › Discovery by Montage in 2024 › Intercept highlights include: − 10 meters at 5.42 g/t Au and 1 meter at 14.94 g/t Au − 5 meters at 7.68 g/t Au − 13 meters at 2.92 g/t Au − 24 meters
Slide 65: Koban North Extension Potential
KOBAN NORTH EXTENSION POTENTIAL Higher grade ore shoots are a focus for further investigation Koban North long section Note: Please refer to disclosures regarding Mineral Reserve and Mineral Resource Estimates in appendix. 65
Slide 66: Soman Deposit
SOMAN DEPOSIT Parallel structures open along strike and at depth Soman plan view INSIGHTS: › The Soman deposit, approximately 1 kilometer, from the main Gbongogo-Koroutou trend hosts a suite of volcano-sediments, with mineralization stretching over a known NE-SW strike of at least 800 meters in leng
Slide 67: Soman Deposit – Pit Block Model
SOMAN DEPOSIT – PIT 1 BLOCK MODEL Parallel structures open in all directions and at depth Soman 1 block model cross section Note: Please refer to disclosures regarding Mineral Reserve and Mineral Resource Estimates in appendix. 67
Slide 68: Soman Deposit – Pit Block Model
SOMAN DEPOSIT – PIT 2 BLOCK MODEL Parallel structures open in all directions and at depth Soman 2 block model cross section Note: Please refer to disclosures regarding Mineral Reserve and Mineral Resource Estimates in appendix. 68
Slide 69: Sissédougou Trend
SISSÉDOUGOU TREND Already 6 exploration targets over a 10km trend Sissédougou Trend Plan View INSIGHTS: › Identified exploration targets correlate to a major, highly prospective southwest-northeast mineralised corridor extending over 10km in strike length, supported by lithostructural mapping, geoph
Slide 70: ANV Deposit
ANV DEPOSIT Mineralisation remains open at depth and along strike ANV Deposit Plan View INSIGHTS: › Ongoing drilling has extended the ANV Mineral Resource along strike and at depth, whilst demonstrating a high conversion of Inferred to Indicated status › The ANV deposit hosts an Indicated Resources
Slide 71: ANV Deposit Block Model
ANV DEPOSIT BLOCK MODEL Increased definition and resolution supports robust geological continuity ANV composite compared to block model grades (left) and domains (right) INSIGHTS: › The 2026 ANV MRE model update incorporates a revised modelling approach, with interval selection guided by geological,
Slide 72: ANV Deposit Upside Potential
ANV DEPOSIT UPSIDE POTENTIAL Multiple north-northeast striking gold anomalies located north of ANV ANV North soil sampling results INSIGHTS: › A systematic auger drilling campaign was conducted in H1-2025 on the Sissédougou trend, which comprised 316 auger drilling holes for 2,282 meters › The objec
Slide 73: Lokolo Deposits and Targets
LOKOLO DEPOSITS AND TARGETS High-grade intercepts across a 9km long mineralised trend Lokolo Northwest Lokolo targets plan view M&I: 27Koz @ 1.10 g/t Au Inferred: 19Koz @ 1.22 g/t Au INSIGHTS: › Largely untested 9km continuous surface geochemical anomalies over the full Lokolo trend › Lokolo Main M&
Slide 74: Diouma North & Sena Targets
DIOUMA NORTH & SENA TARGETS Follow-up drill program planned on high grade targets Diouma North section Cross Section: Looking West DIOUMA NORTH INSIGHTS: › Target was discovered by Montage in early 2023, located 2km south of Gbongogo Main, on trend › <500m from haul road; defined as ~200m x 100m qua
Slide 75: Yeré North Target
YERÉ NORTH TARGET Marked by a 2km-long gold consistent trend Yeré North plan view INSIGHTS: › Originally considered as a small oxide target, subsequent drilling has confirmed mineralisation in fresh rock allowing for upside potential › M&I Resource of 28koz at 2.03 g/t Au and Inferred Resource of 3k
Slide 76: Section 5: Didievi Project
Section 5: DIDIEVI PROJECT
Slide 77: Didievi Project
DIDIEVI PROJECT Demonstrating the potential for a standalone operation Highlights Standalone Potential Montage has operated the property since 2025 to understand its potential High-Grade Resource 1.08 Moz Inferred Resource at 2.0 g/t Au1, and exploration seeks to extend the resource Multiple Trends
Slide 78: Didievi Historical Overview
DIDIEVI HISTORICAL OVERVIEW Rapid exploration progress following Montage operatorship Montage take over operatorship Regional exploration Blaffo Gueto Blaffo Gueto Regional exploration Pranoi and Pokou Blaffo Gueto Blaffo Gueto Stream, soil and grab 1st RC drilling 2nd RC-DD drilling Further samplin
Slide 79: Didievi Project Area
DIDIEVI PROJECT AREA High-quality infrastructure in an established mining area Abundant water INSIGHTS: resources › The Didievi project is located across the property approximately 30km from Yamoussoukro, the capital of Côte d'Ivoire, and is accessible Grid power from Abidjan via an streamlines perm
Slide 80: Didievi Geological Overview
DIDIEVI GEOLOGICAL OVERVIEW Prospective gold belt already yielding multiple gold operations N INSIGHTS: › The Didievi project is located within the Birimian volcanosedimentary formations (lower Proterozoic) of the Toumodi–Fêtèkro belt › This belt forms part of the Proterozoic basement of the Baoulé-
Slide 81: Didievi Project Area Exploration
DIDIEVI PROJECT AREA EXPLORATION Exploration potential across 3 major mineralised trends INSIGHTS: › Didievi project area comprises 3 major mineralised trends › Blaffo Guetto trend hosts the Blaffo Guetto and SW deposits, and has been the focus for exploration given the discovery of continuous high-
Slide 82: Didievi Exploration Triangle
DIDIEVI EXPLORATION TRIANGLE Utilising a proven methodology to enhance the pipeline of targets June 2026 INSIGHTS: Kone, (0) Ore Reserves › Using Montage’s well-established and tested methodology, over 15+ targets have been identified Gbongog o Main on the property Blaffo Guetto, › Much of the Didie
Slide 83: Blaffo Guetto Deposit
BLAFFO GUETTO DEPOSIT High-grade intercepts from surface Blaffo Guetto Drilling Plan INSIGHTS: › Blaffo Guetto is the project’s most advanced deposit, and a 40,000-meter drilling programme is underway having commenced in late 2025 › The deposit remains open along strike and at depth › High-grade gol
Slide 84: Blaffo Guetto Deposit at the Didievi Project
BLAFFO GUETTO DEPOSIT AT THE DIDIEVI PROJECT Higher grade ore shoots are a focus for further investigation Blaffo Guetto Block Model Long Section with key intercepts highlighted1 North - East Source: African Gold. Please refer to the African Gold’s press release dated June 23, 2025, for further deta
Slide 85: Section 6: Environmental, Social, Governance
Section 6: ENVIRONMENTAL, SOCIAL, GOVERNANCE
Slide 86: ESG Overview
ESG OVERVIEW Building on the ESG culture set during the exploration phase Village Relocation INSIGHTS: +100 community homes and several community › Montage’s ESG strategy is well aligned services constructed to improve living standards and with the Côte d’Ivoire national empower local entrepreneurs
Slide 87: Côte d'Ivoire National Development Plan
CÔTE D’IVOIRE NATIONAL DEVELOPMENT PLAN Contribution towards national development goals Electricity Access to 100% GDP growth to 7.7% annually Poverty Rate to below 31% in qualifying localities 1 National Primary School Enrolment Infrastructure and Human Targets Drinking Water access to ~96% to ~97%
Slide 88: Health, Safety and Training
HEALTH, SAFETY AND TRAINING Leveraging experience to set best-in-class standards HSE Training › Compulsory training implemented to all Safety site visitors, employees and contractors › Risk management › Continual field and classroom training › Contractor Management sessions › Incident Management: re
Slide 89: Koné Training and Local Employment
KONÉ TRAINING AND LOCAL EMPLOYMENT Local upskilling through heavy equipment training INSIGHTS: “Cette formation renforce ma compétitivité, m ouvre les portes d’un avenir › In line with Montage’s commitment to local meilleur et me rapproche de mon rêve devenir un operateur reconnu pour sa compétitivi
Slide 90: Koné Community Upskilling Programmes
KONÉ COMMUNITY UPSKILLING PROGRAMMES Training and learning alongside national partnerships INSIGHTS: › Montage demonstrates its commitment to local content with training programmes being conducted in partnership with the government-accredited Lycée Technique de Mankono across the following professio
Slide 91: Environmental Action Plan (EAP)
ENVIRONMENTAL ACTION PLAN (“EAP”) Applying international best practices to environmental management INSIGHTS: CO2 › Montage is committed to minimizing and Water Quality Biodiversity Air Quality Human Impact mitigating environmental impacts through internationally recognized best practices Monitoring
Slide 92: Community Health and Social Development
COMMUNITY HEALTH AND SOCIAL DEVELOPMENT Supporting and investing in the health of our local communities INSIGHTS: › Montage supported the "Pink October" community health campaign, that focuses on women's health and raising awareness about women's cancer › The initiative, co-led by the Dianra Regiona
Slide 93: Koné Impacted Communities
KONÉ IMPACTED COMMUNITITES Strong community support from the surrounding villages Established of a community development Refurbishment of Batogo medical clinic fund to finance local projects and Fadiadougou maternity unit INSIGHTS: › Montage is backed by strong New water wells dug in Fadiadougou, Li
Slide 94: Koné Livelihood Restoration Plan
KONÉ LIVELIHOOD RESTORATION PLAN 4 farming and gardening pilot progammes launched INSIGHTS: “Montage a fourni les terres, les semences et l'équipement nécessaires à l'organisation de l'agriculture et du jardinage afin d'autonomiser la › The Livelihood Restoration Plan (“LRP”) communauté locale. La m
Slide 95: Community Monitoring and Engagement
Community Monitoring and Engagement Community newsletter and robust grievance mechanisms in place Community newsletters INSIGHTS: › Montage is committed to transparent and inclusive communication throughout the project lifecycle based on respect, transparency and open communication › A structured co
Slide 96: Section 7: Appendix
Section 7: APPENDIX
Slide 97: Mineral Resources Estimate
MINERAL RESOURCES ESTIMATE 2024 UFS MINERAL RESOURCE ESTIMATE1 2026 UPDATED MINERAL RESOURCE ESTIMATE2 +Add % Chg DEPOSIT RESOURCE CATEGORY Mt Au g/t Au koz Mt Au g/t Au koz Au koz Au g/t Measured Resources - - - 8.6 0.83 229 +229 - Indicated Resources 229 0.59 4,340 201 0.68 4,404 +64 +15% Koné dep
Slide 98: Technical Disclosures
TECHNICAL DISCLOSURES MINERAL RESERVE AND RESOURCE ESTIMATES – 2024 UPDATED FEASIBILITY STUDY (“UFS”) MINERAL RESOURCE ESTIMATES (“MRE”)(continued) › The Mineral Reserves are classified according to the “CIM” definitions. All Mineral Reserves were classified as › The MRE is reported in accordance wi
Slide 99: Technical Disclosures
TECHNICAL DISCLOSURES DIDIEVI PROJECT MINERAL RESOURCE ESTIMATES › The Mineral Resource Estimate for the Didievi Project was prepared for African Gold Limited, which was subsequently acquired by Montage on April 28, 2026. For further details on the acquisition of African Gold Limited, refer to Monta
Slide 100: Capital Cost Estimate Summary
CAPITAL COST ESTIMATE SUMMARY Low infrastructure and relocation requirements Pre-Production Capital Cost Estimate Summary Koné Gbongogo Total Main Area ($M) ($M) ($M) Resettlement $17.3 $4.7 $22.0 Pre-Production Mining $61.7 $16.3 $78.0 Grid Connection $31.0 - $31.0 Back-up Power Gensets $25.0 - $25
Slide 101: Feasibility Study Summary Metrics
FEASIBILITY STUDY SUMMARY METRICS A long-life with a low-cost structure and robust financial metrics Metrics Units UFS Pit Optimization Gold Price $/oz $1,550 INSIGHTS: Financial Model Base Case Gold Price $/oz $1,850 › Simple bulk mining combined with low-strip, large scale and Life of Mine years 1
Slide 102: Project Infrastructure Details
PROJECT INFRASTRUCTURE DETAILS Haulage road, water and tailings Haul Road from Gbongogo Main to Koné The Gbongogo haul road is 38.1 km in length and transverses a sparsely populated area between the two sites and has been designed to avoid villages, defined forest areas and minimise interactions wit
Slide 103: Project Infrastructure Details
PROJECT INFRASTRUCTURE DETAILS Power Power The UFS evaluated hybrid power supply options from proposals received from West African power providers. However, local supplies of LNG cannot be guaranteed, and so power will now be supplied from the National Grid via a new 225kV transmission line. The Kon
Slide 104: Process Plant
PROCESS PLANT Based on a simple and robust metallurgical flowsheet The process plant design in the UFS is based on a simple and robust metallurgical flowsheet designed for optimal precious metal recovery. The key design criteria for the plant are: ▪ Nominal throughput of 11.0 Mtpa with a grind size
Slide 105: Mining Details
MINING DETAILS UFS Mining operations UFS mining operations UFS mining operations were assumed to be carried out by a contractor on a unit cost per tonne basis utilising a mining fleet comprised of 90t rigid body haul trucks with suitably sized loading units at a rate of 39Mtpa at Koné and 15Mtpa at
Slide 106: Summary Production and Financial Model (US$3,000/oz)
SUMMARY PRODUCTION AND FINANCIAL MODEL (based on US$ 3,000/oz) Description Units Total/Avg Pre-Production Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Mining Ore Mined Mt 174.3 7.5 24.2 21.4 24.5 12.7 14.1 17.9 20.7 27
Slide 107: Summary Production and Financial Model (US$4,000/oz)
SUMMARY PRODUCTION AND FINANCIAL MODEL (based on US$ 4,000/oz) Description Units Total/Avg Pre-Production Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Mining Ore Mined Mt 174.3 7.5 24.2 21.4 24.5 12.7 14.1 17.9 20.7 27
Slide 108: Martino De Ciccio, Jake Cain
TSX MAU OTCQX MAUTF montagegold.com Martino De Ciccio Chief Executive Officer mdeciccio@montagegold.com Jake Cain Strategy & Investor Relations Manager jcain@montagegold.com