Vancouver, British Columbia — January 23, 2023 — Montage Gold Corp. (“Montage” or the “Company”) (TSXV: MAU) (OTCQX: MAUTF) is pleased to report its first drill results on the recently acquired Mankono Sissédougou Joint Venture, which now forms part of a much larger 2,258 sq km Koné Gold Project (“KGP”). Drilling began in November 2022 and with strong early success will continue through 2023. Results in this release reflect 6,713 metres of RC drilling completed on five target areas to the end of 2022.



HIGHLIGHTS

Gbongogo Delivers
Acquisition strategy successful with intercepts of high-grade achieved
GBRC024: 95m at 2.03g/t from surface
GBRC023A: 37m at 2.49g/t from 1m
GBRC025: 70m at 2.25g/t from 49m
GBRC026: 78m at 2.70g/t from surface
Lokolo Main – Initial Testing Shows Impressive High-Grade
LOKRC026: 20m at 7.22g/t from 25m
LOKRC025: 20m at 2.45g/t from 42m
Sits within a broad 12-km anomalous trend
First Regional Targets Drilled Deliver Encouraging Results
Koban North: KBNRC003: 13m at 2.06g/t from 51m
Sena: SENARC004: 15m at 2.37g/t from 6m
Lokolo North: LOKRC021: 20m at 1.74g/t from 38m
With Strong Initial Success Drilling Program Being Expanded to Three Rigs


Rick Clark, Montage CEO commented,

“We are very pleased to report these initial drill results. As we have previously stated, the addition of high-grade satellite targets will significantly enhance the KGP and position it as one of the most attractive gold development projects in West Africa.

“The high-grade intercepts at Gbongogo alone position Montage to substantially upgrade the economic potential of the KGP and the new discoveries being made in areas such as Lokolo Main add a whole new and exciting upside, and we are just getting started. We look forward to reporting on our progress on a regular basis in the coming months towards a new economic review of the KGP.”



DETAILS

KGP Overview and Exploration Strategy

The KGP forms a contiguous block of 1,800 sq km of exploration permits and a further 458 sq km of exploration permit applications, for a total of 2,258 sq km covering a strike length of over 75km on one of the most prospective gold belts in West Africa (see Figure 1).

Montage has completed 6,713m of a 25,000m exploration program that will include a combination of RC, diamond, and aircore drilling that will continue over the coming months. It is expected that at least nine existing targets will be drilled with the aim of identifying new high-grade satellite deposits grading +1.5g/t or better that will complement the large-scale Koné deposit.

Generative exploration is also underway to identify other prospective drilling targets.

see & read more on https://www.montagegoldcorp.com/news/montage-releases-first-results-from-satellite-drill-program-including-78m-of-270gt-gold-at-gbongogo-and-20m-of-722gt-gold-at-lokolo-main