Montage Gold Corp. announced that on September 6, 2022, the Ivorian Council of Ministers approved the award of the Gbongogo and Sisséplé Exploration Permits to the Mankono-Sissédougou Joint Venture ("Mankono"). Public disclosure of these awards can be viewed at the following url: https://rti.info/politique/13686. This marks a critical step in the process towards closing of the previously announced acquisition of Mankono by Montage.

Montage expects to close the Transaction in the coming weeks, following receipt of the signed Presidential decree in respect of the Gbongogo Exploration Permit. With the granting of the Mankono permits now approved, Montage is pleased to provide disclosure of the extensive historic database of results from Mankono for the first time, as well as details of the Company's exploration plans and strategy. HIGHLIGHTS: Mankono exploration permits approved by Government of CDI: Transaction to close following receipt of signed Presidential decree; expected in coming weeks.

14 drill-ready targets; initial 25,000m of drilling planned; Drill rig mobilization by end of September.65km strike length of soil anomalism; USD 20 Million in historic exploration with large database. Transaction will expand Koné Gold Project ("KGP"): High-grade reserves delineated following further exploration could significantly improve KGP; KGP economic study will be revised following aggressive exploration program. Gbongogo prospect gives high-grade head start 30km from Koné deposit: Numerous significant intercepts, including: 135.2m at 2.63g/t from 1m; 92m at 2.99g/t from 33m; 77m at 2.48g/t from 61m.

Initial Inferred Mineral Resource of 5.2Mt at 2.1g/t for 351,000oz at 1.2g/t cut off, Open in all directions. Other top priority targets with high-grade drill results, include: Sissédougou: 60m at 2.63g/t; Bafretou South: 17m at 3.28g/t on strike 6km from Koné deposit; Dokeka: 13m at 26.80g/t; Lokolo South: 2m at 32.20g/t; Lokolo Main: 20m at 2.19g/t; Koban North: 20m at 1.94g/t. Overview of Mankono-Sissédougou Joint Venture Project: Mankono consists of the Sissédougou Exploration Permit (PR842, 387km2) issued in 2019, the Gbongogo Exploration Permit (400km2) and the Sisséplé Exploration Permit (106km2) which are all contiguous with Montage's Koné Gold Project. Taken together with Montage's existing land holdings they form a block of 1,800km2 in exploration permits and a further 458km2 in exploration permit applications for a total of 2,258km2.

The Gbongogo area has been explored by Randgold (Barrick) since 2013 and the Sissédougou and Sisséplé areas by Endeavour and previously La Mancha Resources since 2010. The Mankono Joint Venture was formed in 2017 and exploration has been managed by Barrick since that time. The database of the historic work includes over 36,000 soil samples, 15,500m of trenching and 31,000m of air core drilling.

Notably only 6,000m of Reverse circulation ("RC") drilling and 8,560m of diamond core drilling has been completed most of which is on the Gbongogo prospect. Historic exploration spending on the combined land package is approximately USD 20 million. Gbongogo Prospect – Immediate High-Grade Impact: The Gbongogo prospect, which lies 30km north of Koné, hosts an initial Inferred Mineral Resource of 5.2Mt grading 2.1g/t for 351koz and is the primary target for resource expansion and upgrade.

Montage expects that this prospect can be expanded quickly and has an initial program of 4,000m planned in pursuit of this objective. Mineralization at Gbongogo is hosted within and on the margins of a plunging quartz diorite plug with a surface expression of only 250m by 100m.