Market Signal Briefing

Ottawa, Ontario--(Newsfile Corp. - March 30, 2026) - Focus Graphite Inc. (TSXV: FMS) (OTCQB: FCSMF) (FSE: FKC0) ("Focus" or the "Company"), a Canadian developer of high-grade flake graphite deposits and advanced graphite materials for battery, defence, and industrial applications, is pleased to announce the initiation of a comprehensive tailings storage facility (TSF) dam break analysis (the "Study") for its flagship Lac Knife Graphite Project (the "Project") located in Quebec.

The Study, led by WSP Canada Inc. ("WSP"), a global leader in engineering and environmental consulting, will evaluate hypothetical failure scenarios for the Project's planned filtered (dry-stack) tailings storage facility and associated water retention infrastructure. The work will generate detailed flood mapping and downstream impact assessments, forming a key component of the Company's Environmental and Social Impact Assessment ("ESIA").

Using advanced hydrological and hydraulic modelling, the analysis will simulate breach scenarios under extreme conditions, including Probable Maximum Precipitation (PMP). The Study will incorporate site-specific topography and established industry methodologies to estimate potential flood extent, depth, and timing. These outputs are intended to inform contingency planning, support regulatory review, and strengthen the overall ESIA submission, with completion expected to support the Company's 2026 ESIA advancement timeline.

The assessment is being conducted in alignment with recognized industry frameworks, including guidelines from the Canadian Dam Association (CDA) and the Global Industry Standard on Tailings Management (GISTM), reflecting a risk-informed and environmentally responsible approach to project design.

"This is a meaningful step forward for Lac Knife," said Dean Hanisch, Chief Executive Officer of Focus Graphite. "With this study underway, we are entering the final stages of the ESIA process and establishing a clearer line of sight toward permitting. As we advance, we remain committed to developing this project responsibly, respecting the surrounding environment and the communities connected to this land, while building a high-quality, near-term source of graphite for North American supply chains."

The Study builds on a substantial body of completed technical work and reflects continued advancement of the Project through the development pipeline. The use of filtered (dry-stack) tailings at Lac Knife represents a modern approach to tailings management, widely recognized as a lower-risk alternative to conventional slurry-based systems. This analysis further enhances understanding of downstream conditions and supports integration of risk-informed engineering into final design.

Upon completion, results will be incorporated into the Company's ESIA documentation, supporting ongoing engagement with regulators and stakeholders. Completion of the ESIA is expected to represent a key milestone toward permitting and future construction readiness.

WSP brings extensive global expertise in mining, hydrotechnical engineering, and tailings management, reinforcing the technical rigor underpinning the Project.

The Company will continue to provide updates as ESIA-related milestones are achieved.

Qualified Person
The technical content disclosed in this news release was reviewed and approved by Richard Pearce, PE, President of Brasil Insight Capital LLC., a consultant to the Company, and a qualified person as defined under National Instrument NI-43-101.

About Focus Graphite Advanced Materials Inc.

Focus Graphite Advanced Materials is redefining the future of critical minerals with two 100% owned world-class graphite projects and cutting-edge battery technology. Our flagship Lac Knife project stands as one of the most advanced high-purity graphite deposits in North America, with a fully completed feasibility study. Lac Knife is set to become a key supplier for the battery, defence, and advanced materials industries.

Our Lac Tetepisca project further strengthens our portfolio, with the potential to be one of the largest and highest-purity and grade graphite deposits in North America. At Focus, we go beyond mining — we are pioneering environmentally sustainable processing solutions and innovative battery technologies, including our patent-pending silicon-enhanced spheroidized graphite, designed to enhance battery performance and efficiency.

Our commitment to innovation ensures an eco-friendly supply chain from mine to market. Collaboration is at the core of our vision. We actively partner with industry leaders, research institutions, and government agencies to accelerate the commercialization of next-generation graphite materials. As a North American company, we are dedicated to securing a resilient, locally sourced supply of critical minerals — reducing dependence on foreign-controlled markets and driving the transition to a sustainable future.

For more information on Focus Graphite Inc. please visit http://www.focusgraphite.com.

LinkedIn: https://www.linkedin.com/company/focus-graphite/
X: https://x.com/focusgraphite

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could," "intend," "expect," "believe," "will," "projected," "estimated," and similar expressions, as well as statements relating to matters that are not historical facts, are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events.

In particular, this press release contains forward-looking information regarding, among other things, the anticipated scope, timing and completion of the tailings dam break analysis; the Company's belief that the Study represents one of the final major technical components required to support completion of the Environmental and Social Impact Assessment ("ESIA"); the incorporation of Study results into ESIA documentation; the advancement of the Lac Knife Project toward permitting and regulatory approval; and the Company's plans and objectives for the development of the Project.

Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, risks related to market conditions, regulatory approvals, changes in economic conditions, the ability to raise sufficient funds on acceptable terms or at all, operational risks associated with mineral exploration and development, and other risks detailed from time to time in the Company's public disclosure documents available under its profile on SEDAR+.

The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties, and assumptions contained herein, investors should not place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290423

Source: Focus Graphite Inc.

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us

U.S. equity futures nudged higher, while Treasury yields slipped and oil surged again, as investors fixed their attention on the implications of the Iran war for global growth.

Shares in Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP) rose 7% to 545.45p after the AIM-listed gold and copper miner reported a 150% expansion in the mineral resource at its flagship Telfer operation in Western Australia, taking the total to 8 million ounces of gold.

The updated December 2025 estimate adds 4.8 million ounces at a discovery cost of approximately $5 per ounce, with the higher-confidence measured and indicated category growing 163% to 3.8 million ounces, providing a stronger foundation for mine planning and conversion into mineable reserves.

Combined with the adjacent Havieron deposit, Greatland's total gold and copper resource now stands at 14.9 million ounces of gold and 645,000 tonnes of copper.

The resource spans open pit, underground and stockpile sources across multiple mining areas, with the West Dome Open Pit contributing 4.9 million ounces, the Main Dome Underground 2.2 million ounces and a maiden West Dome Underground resource of 0.6 million ounces at grades of approximately 2.3 grams per tonne.

The growing contribution from higher-grade underground zones is expected to play an increasingly important role in future production planning, with the West Dome Underground considered geologically analogous to the existing Main Dome Underground operation and remaining open in multiple directions.

The expanded resource base supports the long-term viability of Telfer's existing 20-million-tonne-per-annum processing plant, which Greatland took ownership of in December 2024.

Managing director Shaun Day said the combined Telfer and Havieron resource had the potential to underpin a "multi-decade, world-class mining hub."

An updated ore reserve estimate for Telfer is targeted for the second quarter of 2026, with ongoing drilling focused on converting inferred material into higher-confidence categories and extending mineralisation across key zones.

More than 134,000 metres of drilling were completed during 2025, with a further 100,000 metres planned.

719 Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Institutional investors significantly reduced their exposure to Nvidia (NASDAQ: NVDA) in the fourth quarter of 2025, unloading shares worth more than $70 billion.

In line with this, institutional holdings data show that 2,627 funds trimmed their positions during the quarter, collectively offloading 440,075,433 shares. 

Based on Nvidia’s trading price of around $167 at the time, the value of these reductions amounts to approximately $73.5 billion, according to the latest data retrieved by Finbold.

Despite the sizable selling activity, institutional participation in Nvidia remains dominant, with entities still controlling 67.75% of the company’s shares. Total holdings are valued at roughly $2.76 trillion, with institutional investors owning over 16.46 billion shares.

NVDA stock institutional activity. Source: Nasdaq At the same time, the data reflects mixed positioning where, while thousands of funds reduced exposure, 3,090 institutions increased their stakes, buying over 648 million shares. Another 352 held steady, indicating the sell-off was not uniform.

Notable sellers included FMR LLC, JPMorgan Chase, Price T. Rowe Associates, Northern Trust, and UBS Asset Management, all of which trimmed their Nvidia holdings by the end of December 2025.

The decline in institutional holdings has coincided with a period of weaker performance for Nvidia shares. The stock closed at $167.52 on March 27, down 2 % for the day, and is roughly 10% lower year-to-date after starting the year near $186.50. 

NVDA YTD stock price chart. Source: Finbold The semiconductor giant remains well below its October 2025 peak of $207, with the pullback driven by profit-taking, rotation out of mega-cap tech, and valuation concerns.

Despite this, Nvidia’s fiscal 2026 results were strong, fueled by AI demand. Full-year revenue rose 65% to $215.9 billion, while fourth-quarter revenue climbed 73% year over year to $68.1 billion. 

Data Center revenue reached $62.3 billion, up 75%, accounting for more than 91% of total sales. 

On the other hand, at the GTC 2026 conference, CEO Jensen Huang projected at least $1 trillion in cumulative revenue from Blackwell and next-generation Vera Rubin AI platforms through 2027, highlighting continued momentum in the AI supercycle.

Greatland Resources Ltd (AIM:GGP, OTC:GRLGF, FRA:G8G, ASX:GGP) has outlined a substantial new critical minerals asset within its Paterson Province portfolio, delivering a maiden mineral resource estimate for the O’Callaghans tungsten-copper-zinc-lead deposit in Western Australia.

The resource totals 70 million tonnes (Mt) at 0.35% tungsten trioxide (WO₃), alongside 0.30% copper, 0.57% zinc and 0.28% lead, positioning O’Callaghans as one of the largest high-grade tungsten deposits globally.

2025 O’Callaghans Mineral Resource Statement.

The update forms part of Greatland’s broader December 2025 Group Mineral Resource release, which also delivered a major uplift at the Telfer gold-copper operation and reinforced the scale of its Paterson Province footprint.

Strategic tungsten exposure emerges O’Callaghans introduces a new commodity stream to Greatland’s predominantly gold-copper portfolio, with tungsten increasingly recognised as a critical mineral across major economies.

Satellite image showing Telfer mine and infrastructure and O’Callaghans deposit location.

Tungsten’s unique physical properties — including extreme hardness and heat resistance — make it difficult to substitute in applications spanning mining, construction, aerospace and defence. According to the company, aerospace and defence sectors account for roughly a quarter of global demand.

Supply dynamics have also tightened. China, which produces around 80% of global tungsten, imposed export controls in early 2025 and has since shifted from a net exporter to a significant importer, contributing to a sharp increase in benchmark prices.

Against this backdrop, Greatland’s maiden resource positions O’Callaghans as a potentially strategic asset with exposure to both base metals and critical minerals markets.

Benchmarking of O’Callaghans MRE against global (ex-China, Russia and North Korea) tungsten deposits.

Large, high-confidence resource base The O’Callaghans resource is notable not only for its scale but also for its level of geological confidence.

Of the 70Mt total resource, more than 95% sits within the higher-confidence Indicated category, supported by about 71,000 metres of drilling across 184 holes at around 100-metre spacing.

Contained metal estimates include:

246,000 tonnes of WO₃ (tungsten trioxide) 207,000 tonnes of copper 371,000 tonnes of zinc 182,000 tonnes of lead The polymetallic nature of the deposit provides multiple potential revenue streams, with mineralisation hosted in a skarn system located about 300 metres below surface.

Schematic geological section of O’Callaghans deposit.

Leveraging proximity to Telfer A key advantage of the project is its location just 10 kilometres south of the Telfer processing hub, creating potential synergies with existing infrastructure.

While O’Callaghans is not currently the company’s primary focus, its proximity to Telfer could support development pathways that leverage established logistics, workforce and site infrastructure.

Historical work on the project includes a pre-feasibility study completed by a previous owner, which outlined a long-life underground mining operation with a dedicated processing plant and downstream tungsten refining capability.

Comparison with previous Mineral Resource estimates.

Portfolio diversification alongside gold-copper growth The O’Callaghans resource adds a new dimension to Greatland’s asset base at a time when the company is rapidly expanding its gold-copper inventory.

As outlined in the group update, Telfer’s resource has grown to 8.0Moz of gold, while the combined Telfer and Havieron inventory now stands at 14.9Moz of gold and 645,000 tonnes of copper, reinforcing the region’s potential as a long-life mining hub.

Within that broader context, O’Callaghans represents a complementary asset — one that provides optionality to diversify into critical minerals while maintaining a primary focus on gold and copper development.

Managing director Shaun Day said the deposit “presents latent value and optionality within Greatland’s portfolio, particularly in the strong prevailing tungsten market conditions”.

Next steps and optionality Greatland said its immediate priority remains advancing Telfer and the Havieron development, but the scale and quality of the O’Callaghans resource provide a clear basis for future evaluation.

The company is assessing pathways to demonstrate and enhance the project’s value, which could include further technical studies, partnerships or staged development options.

With strong underlying demand for critical minerals and tightening global supply, O’Callaghans adds a strategic lever to Greatland’s broader growth strategy in the Paterson Province.

Middle East tensions drive WTI past $100. With a $150 high possible, will strategic reserves stabilize the volatile energy market?

VANCOUVER, British Columbia, March 30, 2026 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce the appointment of Jaclyn Ruptash as Vice President, Communications, further strengthening its leadership team.

Ms. Ruptash brings over 20 years of domestic and international experience in the resources sector, with a background in investor relations, corporate communications, capital markets, governance, and regulatory compliance. Most recently she served as Vice President, Communications and Investor Relations with NexMetals Mining Corp., following its evolution from Premium Resources Corp. and North American Nickel Inc., where she strengthened market positioning during periods of transformation and deepened engagement with institutional and retail investors.

Throughout her career, she has led communications and investor engagement strategies and key corporate transactions, including financings, corporate restructuring, and go public transactions, across both publicly listed and private resource companies. Her experience spans multiple jurisdictions, commodities, and all stages of the mining lifecycle, from early exploration through to production.

Shane Williams, President and CEO, commented: “Jaclyn is a strong addition to our team at an important stage for the Company as we continue to optimize commercial production at the Madsen Mine. Clear and consistent communication with our stakeholders remains a priority, and Jaclyn’s track record of building credibility with investors and executing effective communications strategies will support that focus. We are pleased to welcome Jaclyn to the team as we continue to execute on our plans in the Red Lake Gold District.”

Ms. Ruptash will lead all aspects of the Company’s communications and investor relations functions, with a focus on delivering clear, consistent messaging and expanding engagement with institutional and retail investors as the Company continues to execute its growth strategy.

ABOUT WEST RED LAKE GOLD MINES

West Red Lake Gold Mines Ltd. is a gold miner development company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world's richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines - Rowan, Mount Jamie, and Red Summit.

ON BEHALF OF WEST RED LAKE GOLD MINES LTD.

“Shane Williams”

Shane Williams        
President & Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:
Jaclyn Ruptash
Vice President, Communications
Tel: (604) 805-0902
Email: [email protected] or visit the Company’s website at https://www.westredlakegold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d3ff919-806b-466b-b41e-bb3be301573c

SummaryCompaniesNvidia's PE ratio hits lowest since early 2019Market selloff linked to Middle East war fearsConcerns over AI infrastructure spending impact NvidiaMarch 30 (Reuters) - As global stock markets tumble over deepening worries about war in the Middle East, Nvidia, the world's most valuable company, finds itself trading at its cheapest price-to-earnings multiple ​since before ChatGPT kicked off the AI boom.

The steep drop in Nvidia's PE suggests the dominant AI chipmaker's shares may be a bargain, ‌but one tied to risks and uncertainty that have shaken investors' confidence in the so-called AI trade that has driven Wall Street higher in recent years.

Get a daily digest of breaking business news straight to your inbox with the Reuters Business newsletter. Sign up here.

Shares of Nvidia (NVDA.O), opens new tab have tumbled nearly 20% from their record high close in October, with the company caught up in a broad market selloff over fears that the U.S. and Israeli war on Iran will keep oil ​prices elevated and fuel a wave of inflation that could force central banks to raise interest rates.

The stock fell 2.2% on Friday, reflecting declines ​across Wall Street, and it is on track to lose about 10% for the first quarter.

Nvidia's forward PE falls to pre-ChatGPT levelsInvestors have also worried in ⁠recent months that heavy spending on AI infrastructure by Microsoft (MSFT.O), opens new tab, Alphabet (GOOGL.O), opens new tab, Amazon (AMZN.O), opens new tab and other Nvidia customers may be taking longer than expected to pay off with ​increased revenue and profits.

These combined concerns have bled over $800 billion from Nvidia's stock market value, now at about $4 trillion, even as the Silicon Valley company reported successive ​quarters of climbing gross margins, now at 75%, and as analysts raised their estimates for future earnings growth.

As a result of those stock declines and increased analyst estimates, Nvidia's shares are now trading at about 19.6 times its expected 12-month earnings, their lowest valuation since early 2019, a year before the coronavirus pandemic and four years before OpenAI's launch of ChatGPT ignited ​a rally in the shares of Nvidia and other AI-related stocks.

Investors use PE multiples to compare the value of stocks in terms of their expected future ​earnings.

Nvidia's PE valuation is also lower than the aggregate PE of the S&P 500, now at about 20 following a 7% drop in the benchmark so far this year. This ‌is notable ⁠because investors typically reward fast-growing companies with higher PE valuations than companies with slower profit growth.

Analysts see the aggregate earnings of S&P 500 companies growing 19% in 2026, compared to an average growth estimate of over 70% for Nvidia in its current fiscal year, according to LSEG data.

Shares of software companies slumped in recent months over worries that AI could lead to tighter competition and hurt their profit margins. Future developments in AI technology could similarly affect hardware technology companies, including Nvidia, ​said Dennis Dick, a proprietary trader at ​Triple D Trading.

“All technology, no matter ⁠what, including Nvidia, could potentially be disrupted, and that’s the risk factor right now,” said Dick. ”Everything’s running on Nvidia chips, but that doesn’t mean it’s going to be that way in two or three years. Everything is changing so rapidly, ​and I think that’s the overall market concern.”

For most of its history, Nvidia's primary business was designing high-performance graphics ​processing units for the ⁠video game market, and it transitioned only in recent years to become the dominant supplier of those chips for AI applications.

Its shares have surged over 1,000% since the launch of ChatGPT kicked off a race to dominate AI technology and insatiable demand for Nvidia's components.

Microsoft has also seen its PE decline in the recent market selloff, now ⁠down to ​about 20 from 35 in August last year, while AI rival Alphabet's PE has come down ​to 24 from almost 30 in January.

Art Hogan, chief market strategist at B. Riley Wealth, said his firm continues to recommend Nvidia to its clients.

"Trading at a multiple that is lower than the S&P ​500, I think it's an easy decision to make," Hogan said.

Reporting by Noel Randewich, editing by Colin Barr and Anna Driver

Our Standards: The Thomson Reuters Trust Principles., opens new tab

San Francisco correspondent covering the stock market with a focus on Big Tech, semiconductors and other Silicon Valley companies

Quantum computing firms are defying turbulent markets to go public this year, as companies seek to raise funds to capitalize on recent scientific breakthroughs and push the experimental technology closer to commercialization.

One such firm, Xanadu Quantum, which builds quantum computing hardware and software, began trading on the Nasdaq and Toronto Stock Exchange on Friday, rallying 15% in the U.S. after a rocky start in public markets. 

Xanadu Quantum — a quantum partner of chip giant Nvidia — debuted after merging with Crane Harbor Acquisition, a Special Purpose Acquisition Company (SPAC), also known as a 'blank-check firm.'

A SPAC is a shell company created specifically to raise capital through an initial public offering, and they have become a common route for quantum startups to list. 

Xanadu's listing came a week after Singapore-based quantum software company Horizon Quantum began trading following its merger with blank-check company dMY Squared Technology Group. 

The narrative has shifted from science project to commercial trajectory, and companies are capitalizing on that window.

Velu Sinha

Partner, Bain & Company

dMY Technology Group took IonQ public in 2021 through a merger with one of its shell companies, making it the first publicly traded, pure-play quantum computing company.

Since then, SPACs, which offer a quicker path to listing with less regulatory scrutiny, have become a popular path for quantum companies to raise capital. 

Quantum computing uses the principles of quantum mechanics to process information in ways classical computers cannot, with potential applications spanning across drug discovery, materials science, cryptography and more. While technology remains experimental, it is widely seen as potentially transformative.

Why now? The recent wave of quantum listings comes at a tumultuous time for global markets, as conflict in the Middle East roils investor confidence, especially in risky, speculative assets like quantum companies. 

Despite ending its first day higher, the Nasdaq-listed shares of Xanadu fell over 10% in after-hours trading. Horizon Quantum, meanwhile, has dropped around 18% since its debut, while Infleqtion, which debuted on the New York Stock Exchange in February through a blank-check deal on Feb. 17, has seen its stock plunge by more than 30%.

Still, companies appear willing to brave these volatile markets to capitalize on recent industry breakthroughs. 

"It's an interesting time to be entering the public markets, of course, with everything happening in the world ... But for quantum computing, it's actually a very ideal time to be coming out," Dr. Joe Fitzsimons, the founder and CEO of Horizon Quantum, told CNBC. 

"We're really starting to hit something of an inflection point," he said, adding that there has been a significant number of breakthroughs that have occurred over the past 18 months. 

In 2024 and 2025, several companies and research groups demonstrated improved quantum error correction, a key requirement for building reliable machines.

Other milestones include higher qubit counts — which increase the potential size and complexity of problems a quantum computer can represent and help solve — and coherence times, which allow more reliable computations by reducing the impact of noise and errors.

"The first demonstrations of practical quantum advantage are expected at around 100 logical qubits — a threshold the industry is approaching by 2028-2029," Velu Sinha, partner, Bain & Company, told CNBC. 

"But for commercially impactful applications like drug discovery or large-scale logistics optimization, you need 1,000 to 10,000 logical qubits, which is more likely mid-2030s," he added.

This so-called "quantum advantage" refers to the theoretical milestone in which quantum computers solve real-world problems faster, more efficiently, or more accurately than the best-known classical supercomputer. 

A shifting narrative As companies race to pursue the quantum advantage, investments in the space have been rising. Tech giants including Alphabet, Microsoft, Amazon and IBM have poured millions into the technology, though they have largely avoided spinning out standalone public entities. 

"The narrative has shifted from science project to commercial trajectory, and companies are capitalizing on that window," Sinha said. 

"Quantum is one of a small number of technology categories investors view as structurally inevitable ... The addressable market at full maturity is estimated at $100 to $250 billion, which gives patient capital a reason to look past near-term volatility," he added. 

Early commercial applications are also emerging in areas such as optimization, financial modeling and chemical simulations.

"The time was right [to go public] because quantum, and especially neutral atoms, is moving from scientific progress toward commercial relevance," Matthew Kinsella, CEO of Infleqtion, told CNBC. 

"Going public gives us the capital to accelerate commercialization and invest behind the markets where we already see customer demand ... We think commercialization will happen in stages, with [quantum sensing and quantum timing] leading near term and computing expanding as performance continues to scale."

watch now

For smaller quantum upstarts, near-term revenue opportunities are key to securing investor support for their long-term research.

Horizon Quantum Computing, for instance, has focused on developing software tools that can run on both classical and quantum systems, positioning the company to generate revenue before large-scale quantum hardware becomes viable. 

The company's CEO said newly raised funds will be used to expand its research team and roll out an early iteration of its software to early access users this year. 

Xanadu Quantum has also invested in cloud-based platforms that allow developers to pay to experiment with quantum algorithms using existing hardware.

From labs to the real world Historically, governments have played a critical role in developing the quantum sector due to its heavy capital requirements. 

The United States, China, and the European Union have committed billions of dollars to quantum research and commercialization, aiming to secure strategic advantages in computing and cybersecurity.

Government initiatives have often focused on or included support from universities and national laboratories.

However, the latest wave of public listings underscores how the industry is shifting from academic and public research toward commercial markets, even as timelines for widespread adoption remain uncertain.

"Quantum computers are going to be able to do trillions of computations instantaneously, and that will absolutely revolutionize the way we act with computing," said Marc Einstein, research director at Counterpoint Research. 

The day when individuals have quantum computers in their offices or homes may be decades away, Einstein said. But a future in which large organizations own the machinery and provide quantum computing services could arrive much sooner, he added.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

© Scott Olson / Getty Images

While Wall Street fixated on artificial intelligence chips and soaring tech valuations, one blue-chip Dow name delivered returns that left Nvidia (NASDAQ:NVDA | NVDA Price Prediction) in the dust. Over the past year, Caterpillar (NYSE:CAT) shares have risen 104%, more than double Nvidia’s 50% gain. That outperformance came not from flashy semiconductors, but from yellow machines moving dirt for data centers, mines, and infrastructure projects. 

So, let’s examine what powered this quiet Dow winner, whether the momentum holds, and what risks investors should watch.

The Numbers Tell a Compelling Story According to Caterpillar’s fourth-quarter and full-year 2025 earnings release in January, the company posted record full-year sales and revenues of $67.6 billion. Fourth-quarter revenue alone hit $19.1 billion, up 18% from the prior year. Adjusted earnings reached $19.06 per share for the year, with Q4 adjusted EPS at $5.16 — beating estimates of $4.70. Enterprise operating cash flow totaled $11.7 billion, and the company deployed $7.9 billion for share repurchases and dividends.

Those figures explain the stock’s run. Higher volumes across construction, resource, and energy segments drove growth, while a shift toward high-margin services added stability. Zacks data shows Caterpillar outperformed its Manufacturing – Construction and Mining industry peers by 104.2% versus the group’s 99% return over the past year. No matter how you slice it, Caterpillar turned real-world demand into shareholder value.

AI Infrastructure Gave Caterpillar an Unexpected Boost Believe it or not, the same AI boom that lifted Nvidia also lifted Caterpillar — through power generation equipment. Data centers need massive generators and turbines, and Caterpillar’s Energy & Transportation segment delivered. Management highlighted strong demand for prime power solutions tied to AI builds, contributing to the record results. Copper mining for data center wiring added another tailwind, as miners relied on Caterpillar’s heavy equipment.

Compare that to peers: Komatsu posted far weaker returns, while Deere (NYSE:DE) trailed in growth and return on equity (Caterpillar’s ROE stands at 47.16% versus Deere’s 21.97%). Caterpillar didn’t just ride the cycle — it capitalized on secular shifts in infrastructure and energy.

A Record Backlog Points to 2026 Momentum Here’s what the numbers tell us about staying power. Caterpillar ended 2025 with a record $51.2 billion order backlog, according to its SEC filing and earnings release. That’s up sharply from the previous year and provides visibility well into 2026 and beyond. Management guided for full-year 2026 sales growth near the top of the 5% to 7% range, supported by backlog conversion, pricing discipline, and continued services expansion. Services revenue already exceeds $24 billion annually and targets $30 billion by 2030.

For safety-focused investors, that backlog acts like a buffer. It means revenue isn’t dependent on new orders alone. Pricing power and a growing installed base should help offset cyclical pressures.

Tariffs and Valuation Present Real Risks That said, no story this strong comes without caveats. Caterpillar flagged $2.6 billion in incremental tariff costs for 2026 — up from roughly $1.7 billion in 2025 — primarily tied to China-related manufacturing and imports. Q4 operating margins narrowed to 15.6% from 18.3% the prior year, partly due to those costs. If trade tensions escalate, margins could compress further.

Valuation adds another layer. Caterpillar trades at a trailing P/E of 36.2, well above its five-year average near 19x. At around $695 per share, the stock carries a forward dividend yield of 0.87% based on an annual dividend of $6.04 per share. That’s modest for income seekers, though the company has raised its dividend for 30 straight years at a 7.23% five-year average clip.

Key Takeaways All in all, Caterpillar’s double in value versus Nvidia only rising by half that rate wasn’t luck — it stemmed from tangible demand in AI infrastructure, mining, and construction, backed by a $51.2 billion backlog and $11.7 billion in operating cash flow. Those factors should continue into 2026, with 5% to 7% sales growth on the horizon and services providing recurring revenue.

Granted, tariffs could shave margins, and the premium valuation leaves less room for error. But for long-term investors who value data over hype, the outlook remains attractive. Caterpillar proved it can deliver in an AI-driven world without the volatility of pure tech plays. If the backlog converts and pricing holds, this surprising Dow stock still has room to run — tariffs and all.

The data center will power the training of artificial-intelligence models using 13,800 of Nvidia's advanced GB300 AI chips.

London, 30 March 2026 – Jabil, in partnership with BizClik and Procurement Magazine, will host a dedicated workshop at Procurement & Supply Chain LIVE: The US Summit on 21 April, focused on end-to-end supply chain management solutions. The session will explore strategies for optimising global networks and building resilience in an increasingly complex business environment.

The workshop has been designed for C-suite, Vice President (VP) and director-level leaders across supply chain, operations, planning and procurement. It addresses critical challenges including fragmented networks, unpredictable disruptions and the urgent need for real-time visibility.

Mastering end-to-end supply chain optimisation

The session will provide practical guidance on building integrated, high-performance supply chain ecosystems from planning to delivery. Jabil's recent acquisition of Hanley Energy to manage artificial intelligence (AI) data centre power lifecycles demonstrates how supply chain responsibility is extending beyond traditional delivery points.

Participants will gain insights on utilising AI-driven forecasting to mitigate global supply disruptions and improving operational performance through machine-led factory insights. The workshop will also examine how to align disparate systems and partner data into a single source of truth.

Building sustainable supply ecosystems

The session will address how sustainability is becoming a core driver of supply chain performance. Jabil's work with Retronix to re-qualify semiconductor components demonstrates how circular approaches are acting as strategic hedges against global shortages and rising material costs.

Participants will learn how to transition from linear to closed-loop supply chain models and align end-to-end operations with enterprise-wide Environmental, Social and Governance (ESG) and net-zero targets. The workshop is particularly valuable for organisations with high-complexity footprints in industrial manufacturing, high-tech, automotive and pharmaceutical sectors.

Register your interest here to attend the US Summit & this workshop.

Looking ahead

Procurement & Supply Chain LIVE: The US Summit continues to bring together senior executives and industry experts to tackle today's challenges and explore tomorrow's opportunities in supply chain management.

About BizClik

BizClik is a global B2B media and events company producing sector-specific content across technology, sustainability, procurement, fintech, AI, and more. Through digital magazines, websites, newsletters, webinars, and award-winning events, BizClik connects enterprise leaders with executive audiences to drive strategic business engagement.

For more information, visit: www.bizclikmedia.com

About Procurement & Supply Chain LIVE

Procurement & Supply Chain LIVE brings together the people driving innovation and resilience across global supply chains. It's where senior executives, rising talent, and industry experts come together to tackle today's challenges and explore tomorrow's opportunities. This global hybrid event series features in-depth talks, practical workshops, and candid conversations on everything from digital transformation and supplier partnerships to logistics, sustainability, and risk management. Whether you join in person or online, Procurement & Supply Chain LIVE is a space to exchange ideas, gain practical insights, and build the connections that move the industry forward.

Media Enquiries

Email Beckie Jordan, Head of Events Communications at [email protected] 

, /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against Corcept Therapeutics Incorporated ("Corcept" or "the Company") (NASDAQ: CORT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Shareholders who purchased shares of CORT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.

CLASS PERIOD: October 31, 2024 to December 30, 2025
DEADLINE: April 21, 2026

CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Despite the FDA warning Corcept "on several occasions" that the clinical data on its product candidate relacorilant was insufficient, the Company claimed to investors that the product was "approaching approval" based on the "powerful evidence" it had gathered in trials. Based on these facts, Corcept's public statements were false and materially misleading throughout the class period.

If you are a shareholder who suffered a loss, contact us to participate.

WHY DJS LAW GROUP? DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.

Join the case to recover your losses.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:
David J. Schwartz
DJS Law Group
274 White Plains Road, Suite 1
 Eastchester, NY 10709
Phone: 914-206-9742
Email: [email protected]

SOURCE DJS Law Group LLP

, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Corcept Therapeutics Incorporated ("Corcept" or "the Company") (NASDAQ: CORT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between October 31, 2024 and December 30, 2025, inclusive (the "Class Period"), are encouraged to contact the firm before April 21, 2026.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Corcept misled investors about the viability of its product candidate, relacorilant. Despite claiming relacorilant was "approaching approval," the Company knew that the FDA considered its clinical data was not adequate for approval. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Corcept, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE The Schall Law Firm

, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Navan, Inc. ("Navan" or "the Company") (NASDAQ: NAVN) for violations of the federal securities laws.

Investors who purchased the Company's securities pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's October 31, 2025, initial public offering ("IPO"), are encouraged to contact the firm before April 24, 2026.             

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Navan misled investors by failing to inform them that it would need to massively ramp up its sales and marketing expenditures after the IPO to achieve usage yield growth, grow its Gross Booking Volume, and sustain revenues. Based on these facts, the Company's public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Navan, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE The Schall Law Firm

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers Class A common stock of Snowflake Inc. (NYSE: SNOW) between June 27, 2023 and the close of the market on February 28, 2024 (4:00 p.m. ET), inclusive (the "Class Period"), of the important April 27, 2026 lead plaintiff deadline.

So what: If you purchased Snowflake Class A common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Snowflake class action, go to https://rosenlegal.com/submit-form/?case_id=22950 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 27, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, during the Class Period, defendants repeatedly made positive statements about the state of its business, including positive statements about customer usage of, and new developments for, its products. At the same time, defendants failed to disclose that: (1) product efficiency gains, Iceberg Tables and tiered storage pricing were expected to have a material negative impact on consumption and revenues, and (2) as a result, defendants' positive statements about consumption patterns, revenues, and demand for Snowflake products lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Snowflake class action, go to https://rosenlegal.com/submit-form/?case_id=22950 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

     Laurence Rosen, Esq.
     Phillip Kim, Esq.
     The Rosen Law Firm, P.A.
     275 Madison Avenue, 40th Floor
     New York, NY 10016
     Tel: (212) 686-1060
     Toll Free: (866) 767-3653
     Fax: (212) 202-3827
     [email protected]
     www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

New York, New York--(Newsfile Corp. - March 30, 2026) - Levi & Korsinsky notifies investors that it has commenced an investigation into Freshpet, Inc. (NASDAQ: FRPT) ("Freshpet, Inc.") concerning potential violations of the federal securities laws.

On March 17, 2026, an NAD ruling came through after a Fast-Track SWIFT challenge, an expedited single-issue process, was brought by one of Freshpet's competitors, The Farmer's Dog. The Farmer's Dog argued that three of Freshpet's video ads included statements that necessarily imply the company's dog food is human grade. During the review, Freshpet modified one of its ads. Following the ruling, Freshpet stated it would comply with the NAD's recommendation. Freshpet's stock subsequently declined in mid-March 2026.

If you suffered a loss on your Freshpet, Inc. securities and would like to explore a potential recovery under the federal securities laws, Learn More About the Investigation or contact Joseph E. Levi, Esq. via email at [email protected] or call (212)363-7500 to speak to our team of experienced shareholder advocates.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
Fax: (212)363-7171

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290430

Source: Levi & Korsinsky, LLP

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us

HomeStock IdeasLong IdeasTech 

SummaryMicron reported $23.9B revenue and $12.20 EPS, yet fell ~20% as TurboQuant fears and capex concerns drove sentiment reversal.Forward EPS peaks near $98 by 2027, but current ~6x forward P/E implies aggressive earnings normalization assumptions by the market.AI-driven demand keeps DRAM and NAND supply constrained beyond 2026, with Micron still under-delivering to customers at record margins.Chinese competitors like CXMT and YMTC are progressing, but remain concentrated in commodity segments, not high-margin AI memory markets. luza studios/E+ via Getty Images

The biggest misconception I see is that the market is essentially attempting to apply an old traditional memory cycle to a business that has structurally changed over time, and therefore Micron (MU) is

842 Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in MU over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Shares in Mirriad Advertising PLC (AIM:MIRI, FRA:8WQ, OTCQX:MMDDF) fell 47% to 0.0029p after the AIM-listed virtual product placement company warned it will need to raise further funds before publishing its annual results, with cash standing at approximately £675,000 as of 27 March 2026.

Virtual product placement is a technology that digitally inserts branded products into video content after filming, allowing advertisers to reach audiences without traditional ad breaks.

The funding warning came alongside a trading update in which Mirriad said first-quarter sales had fallen short of expectations, with anticipated revenue from Ramadan advertising campaigns in the Middle East failing to materialise due to the conflict in Iran.

The shortfall represents a reversal from the company's January update, in which it described itself as cautiously optimistic about a potentially significant uplift in sales during February and March.

Mirriad said it had signed a services agreement with one of the UK's largest media conglomerates during the quarter, with the client currently in market testing a go-to-market campaign using its technology.

HIGHLIGHTS: 

174,000 meters of exploration and grade control drilling conducted in 2025, with 36% directed towards the Koné and Gbongogo Main deposits, in addition to delineating new higher-grade satellites 59,873m of grade control and exploration drilling completed on the Koné deposit in 2025, increasing the total drilling conducted on the deposit to 171,050m compared to 100,249m prior to the 2024 Updated Feasibility Study (“UFS”)7,292m of infill drilling and exploration drilling completed on the Gbongogo Main deposit since the beginning of 2025, increasing the total drilling conducted on the deposit to 32,002m compared to 18,276m prior to the 2024 UFS In-fill and step-out drilling at the Koné and Gbongogo Main deposits resulted in better definition of higher-grade areas while improving the continuity and extension of the mineralization: Koné deposit M&I Resources increased by 142koz to 4.63Moz while grade increased by 21% to 0.69 g/t Au and Inferred Resources increased by 749koz to 1.26Moz while grade increased by 21% to 0.52 g/t Au, over last year; Koné deposit maiden Measured Resources of 229koz at 0.83 g/t Au demonstrates higher resource confidence levelGbongogo Main deposit Indicated Resources increased by 223koz to 783koz while grade increased by 3% to 1.51 g/t Au and Inferred Resources increased by 39koz to 41koz while grade increased by 21% to 1.08 g/t Au, over last year Koné project overall M&I Resources increased by 671koz to 5.88Moz while the grade increased by 24% to 0.77 g/t Au and Inferred Resources increased by 782koz to 1.56Moz while the grade increased by 7% to 0.58 g/t Au, over last year, inclusive of resources for additional satellites published last year Indicated and Inferred Resources for higher grade satellite deposits now stand at 1.25Moz at 1.34 g/t Au and 303koz at 1.07 g/t Au, respectively, highlighting the effectiveness of the exploration programmeUpdated resources for satellite deposits, including Gbongogo South, Koban North, ANV, Yere North, Lokolo Main, Sena and Diouma North are expected to be published in the coming weeks, while maiden resources for new discoveries, such as Petit Yao and Soman 1 & 2, are expected to be published over the course of 2026Exploration remains a strong focus at the Koné project with a 90,000-meter drill programme launched in early 2026Koné project construction continues to rapidly advance on-budget and ahead of schedule with a first gold pour through the oxide circuit anticipated in late Q4-2026 ABIDJAN, Côte d’Ivoire, March 30, 2026 (GLOBE NEWSWIRE) -- Montage Gold Corp. (“Montage” or the “Company”) (TSX: MAU, OTCQX: MAUTF) is pleased to report an updated Mineral Resource Estimate (“MRE”) for its Koné and Gbongogo Main deposits, at the Company’s flagship Koné project, located in Côte d’Ivoire, where construction continues to rapidly advance on-budget and ahead of schedule with first gold pour anticipated through the oxide circuit in late Q4-2026.

A total of 174,000 meters of exploration, advance grade control and grade control drilling were conducted in 2025, with 36% directed towards the Koné and Gbongogo Main deposits, in addition to delineating new higher-grade satellite deposits. A total of 59,873 meters of grade control and exploration drilling was completed on the Koné deposit in 2025, increasing the cumulative drilling to 171,050 meters, compared to 100,249 meters prior to the 2024 Updated Feasibility Study (“UFS”). At the Gbongogo Main deposit, 7,292 meters of grade control and exploration drilling have been completed since the beginning of 2025, bringing total drilling to 32,002 meters, compared to 18,276 prior to the 2024 UFS. In-fill and step-out drilling at the Koné and Gbongogo Main deposits, and application of Ordinary Kriging methodology, have enabled better definition of higher-grade zones, improved mineralization continuity, and extended the overall mineralized envelopes.

As shown in Table 1 below, the Koné deposit Measured and Indicated (“M&I”) Resources increased by 142koz to 4.63Moz, with grade increasing by 21% to 0.69 g/t Au, while Inferred Resources increased by 749koz to 1.26Moz, with grade increasing by 21% to 0.52 g/t Au, compared to last year. Furthermore, the Koné deposit maiden Measured Resource of 229koz at 0.83 g/t Au demonstrates a higher level of resource confidence. At the Gbongogo Main deposit, Indicated Resources increased by 223koz to 783koz, with grade increasing by 3% to 1.51 g/t Au, while Inferred Resources increased by 39koz to 41koz, with grade increasing by 21% to 1.08 g/t Au, compared to last year.

The updated MRE for the Koné project’s (“Updated MRE”) overall M&I Resources increased by 671koz to 5.88Moz, with grade increasing by 24% to 0.77 g/t Au, while Inferred Resources increased by 782koz to 1.56Moz, with grade increasing by 7% to 0.58 g/t Au, compared to last year, inclusive of resources for additional satellite deposits published last year. Moreover, Indicated and Inferred Resources for higher-grade satellite deposits now stand at 1.25Moz at 1.34 g/t Au and 303koz at 1.07 g/t Au, respectively, highlighting the effectiveness of the exploration programme.

Updated resources for satellite deposits, including Gbongogo South, Koban North, ANV, Yere North, Lokolo Main, Sena and Diouma North, are expected to be published in the coming weeks, while maiden resources for new discoveries such as Petit Yao and Soman 1 & 2 are expected to be released throughout the year, following the completion of phased exploration programmes. Exploration remains a strong focus at the Koné project, with a 90,000-meter drill programme launched in early 2026, supporting the continued expansion of the resource base.

Table 1: Koné project Mineral Resource Estimate variance year-over-year PREVIOUS MRE1
(Published April 2025) UPDATED MRE2
(Published March 2026) YoYResources shown on a 100% basis TonnageGradeContent TonnageGradeContent Variance(Mt)(Au g/t)(Au koz) (Mt)(Au g/t)(Au koz) (Au koz)Koné deposit         Measured--- 8.60.83229 +229 Indicated2450.574,490 2000.684,404 (86)Measured & Indicated 245 0.57 4,490   209 0.69 4,632  +142  Inferred 37 0.43 510   75 0.52 1,259  +749  Satellite deposits (incl. Gbongogo Main)Measured--- --- - Indicated161.38720 291.341,249 +529 Measured & Indicated 16 1.38 720   29 1.34 1,249  +529  Inferred 8.4 1.00 270   8.8 1.07 303  +33  Total Koné project         Measured--- 8.60.83229 +229 Indicated2610.625,210 2290.775,652 +442 Measured & Indicated 261 0.62 5,210   238 0.77 5,881  +671  Inferred 45 0.54 780   84 0.58 1,562  +782 1) Previous MRE as disclosed in the Company’s press release dated April 8, 2025, available on Montage’s website and on SEDAR+. 2) Updated MRE is reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and follows the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources. The Updated MRE for the Koné deposit (“Updated Koné MRE”) has an effective date of December 31, 2025, and is reported at a gold cut-off grade of 0.20 g/t Au and the updated MRE for the Gbongogo Main deposit (“Updated Gbongogo Main MRE”) has an effective date of March 3, 2026, and is reported at a gold cut-off grade of 0.50 g/t Au. The Updated Koné MRE and Updated Gbongogo Main MRE was prepared by Mr. Rolly Wasonga, Qualified Person and employee of Montage, and reviewed and approved by Dr. Gregory Zhang, employee of Snowden Optiro, Australia, who is independent from Montage and a Qualified Person as defined by NI 43-101. The Updated Koné MRE and the Updated Gbongogo Main MRE are constrained within an optimized open-pit shell generated using a gold price of US$2,500 per ounce. The Updated MRE accounts for a change in the constrained optimized open-pit shell generated using a gold price of US$2,500 per ounce on the Gbongogo South and Koban North deposits (as previously published on July 21, 2025) and the ANV deposit (as previously published on November 6, 2025). All other deposits are unchanged from the previous mineral resource estimate disclosed on April 8, 2025, and all previous estimates are available on Montage’s website and on SEDAR+. The Updated Koné MRE is reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. See Table A1 in Appendix A and “Technical Disclosure” below for details.
The Company expects to publish an updated life of mine plan (“LOM”) later this year to incorporate the updated MRE for the Koné and Gbongogo Main deposits, along with the addition of several higher-grade satellite deposits. In addition, the LOM is expected to reflect other value enhancement initiatives such as the addition of the oxide circuit, the process plant design enhancements previously announced, and the previously announced shift to an owner-operated mining model.

Martino De Ciccio, Chief Executive Officer of Montage, commented: “We are pleased with our continued progress to unlock exploration value at the Koné project, where construction remains on-budget and ahead of schedule with the first gold pour expected in late Q4-2026 through the oxide circuit.

The updated Mineral Resource Estimate published today for the Koné and Gbongogo Main deposits further enhances the quality of the project. Moreover, the extensive 56,000-meter grade control programme, which represents approximately the first 18 months of production from the Koné deposit and covers a significant portion of oxide mineralisation, further derisks our production start-up.

We are also pleased to be executing against our goal of discovering high grade satellites with the aim of supplementing production from the onset. Over the coming weeks, we expect to publish updated resource estimates for other satellite deposits, including Gbongogo South, Koban North, ANV, Yere North, Lokolo Main, Sena and Diouma North, while we also expect the ongoing 90,000-meter drill programme to yield maiden resources for new targets such as Petit Yao and Soman 1 & 2. This exploration success builds on the momentum generated thus far as we continue on our journey of creating a premier multi-asset African gold producer and unlocking value for all stakeholders.”

Silvia Bottero, EVP Exploration of Montage commented: “We continue to be very excited about the exploration potential at our Koné project, in Côte d’Ivoire, driven by the ongoing success of our exploration programme. Our 2025 programme focused on three parallel tracks: infill and step-out drilling of previously delineated deposits, advancing targets toward maiden resource status, and testing new targets through regional scout drilling. As a result, we have improved the quality, grade, and size of the Koné and Gbongogo Main deposits while increasing its confidence, expanded the other higher-grade satellite deposits, and generated new targets for which we expect to publish maiden resources this year.

The grade control programme, with tighter drill spacing, has delivered significant improvements in the definition of higher-grade shoots, including structures not evident in the broader resource drilling dataset. This has enhanced our understanding of grade continuity and will support more accurate production forecasting with improved control over mining dilution. In addition, mineralized extensions continue to highlight the upside potential of both deposits.

We have also made strong progress in expanding resources for the other higher-grade satellites and look forward to publishing updated resources in the coming weeks. Exploration remains a key focus, with a 90,000-meter programme underway in 2026, aimed at further growing known deposits and delineating maiden resources across new targets.

I would like to thank our exploration teams for their continued dedication and commitment. Their efforts reflect the strength of our team, and we look forward to unlocking further value together for all our stakeholders.”

KONÉ PROJECT MINERAL RESOURCE UPDATE

Table 2 below presents the evolution of the MRE for the Koné project, following the publication of the 2024 Updated Feasibility Study (“UFS”).

In April 2025, the Company published an increase in the MRE on the Koné deposit, as well as initial maiden MREs for 7 new deposits (Gbongogo South, Koban North, ANV, Lokolo Main, Yeré North, Sena, and Diouma North) with all deposits remaining open, given that they are data constrained, as the focus was to outline only a portion of the orebodies to assess the grade profiles in order to prioritize 2025 drill efforts.In July 2025, the Company published an increase in the MREs for both the Gbongogo South and Koban North deposits, with a high rate of conversion from Inferred to Indicated Resources exhibited. It was noted that both deposits were expected to continue to grow given the ongoing drill programme and that certain drill results were not yet incorporated into the then published MREs.In November 2025, the Company published an updated MRE for the ANV deposit where both Indicated and Inferred Resources increased. In addition, the Company indicated that exploration results in the vicinity of the ANV deposit demonstrate its upside, as it remains open down dip and along strike, with further potential across parallel lineaments within 150 meters of the existing deposit.Today’s published Updated MRE includes updates for the Koné and Gbongogo Main deposits, as described in the below section, along with minor changes to the Gbongogo South, Koban North and ANV deposit to align optimized pit shell parameters using a gold price of US$2,500/oz. Table 2: Koné project Mineral Resource Estimate variance since publication of the UFS Measured & Indicated  InferredResources shown onTonnageGradeContent TonnageGradeContenta 100% basis(Mt)(Au g/t)(Au koz) (Mt)(Au g/t)(Au koz)        2024 UFS MRE as published on January 16, 20241Koné deposit2290.594,340 250.50400Gbongogo Main deposit111.47520 ---Other satellite deposits--- ---Total2400.634,860 250.50400        MRE as published on April 8, 20252Koné deposit2450.574,490 370.43510Gbongogo Main deposit121.46560 0.10.892.0Other satellite deposits4.21.17160 8.41.00270Total2610.625,210 450.54780        MRE as published on July 21, 20253Koné deposit2450.574,490 370.43510Gbongogo Main deposit121.46560 0.10.892.0Other satellite deposits9.81.15364 4.01.07138Total2670.635,414 410.49650        MRE as published on November 6, 20264Koné deposit2450.574,490 370.43510Gbongogo Main deposit121.46560 0.10.892.0Other satellite deposits121.13436 5.41.10192Total2690.635,486 430.51704        MRE as published March 30, 20265Koné deposit2090.694,632 750.521,259Gbongogo Main deposit161.51783 1.21.0841Other satellite deposits131.12466 7.61.07262Total 238 0.77 5,881  840.581,5621) Updated Feasibility Study available on Montage’s website and on SEDAR+. 2) 2024 MRE as disclosed in the Company’s press release dated April 8, 2025. 3) MRE update as disclosed in the Company’s press releases dated July 21, 2025, which includes MRE updates to the Gbongogo South and Koban North deposits. 4) MRE update for the ANV deposit as disclosed in the Company’s press releases dated November 6, 2025. 5) See Note 2 on Table 1 and “Technical Disclosure” below for details.
Table 3 below presents the year-over-year evolution of the MRE for the Koné project. The Koné project’s overall M&I Resources increased by 671koz to 5.88Moz, with grade increasing by 24% to 0.77 g/t Au, while the Inferred Resource increased by 782koz to 1.56Moz, with grade increasing by 7% to 0.58 g/t Au, compared to last year, inclusive of resources for additional satellite deposits published last year. Moreover, Indicated and Inferred Resources for higher-grade satellite deposits now stand at 1.25Moz at 1.34 g/t Au and 303koz at 1.07 g/t Au, respectively, highlighting the effectiveness of the exploration programme.

The grade control (“GC”) and advanced grade control (“AGC”) drilling programmes have significantly enhanced grade distribution resolution relative to the Previous MRE whilst providing greater definition of the continuity of mineralised envelopes across the Koné and Gbongogo Main deposits. Additionally, the transition from a Multiple Indicator Kriging (“MIK”) estimation model to Ordinary Kriging (“OK”) for the Koné and Gbongogo Main deposits enabled improved resolution in the modelling of individual mineralisation packages and vein sets. As a result, the Company has defined higher-grade zones within both deposits and expects improved controls on mine dilution, and stronger predictability for production planning, with significant coverage of oxide mineralisation. The tighter drill spacing has also led to an inaugural Measured Resource for the Koné deposit, demonstrating a higher level of resource confidence. The significant increase in Inferred Resources at the Koné deposit reflects the delineation of mineralised extensions identified towards the southeast and southwest extents of the Koné deposit, which remain open.

Table 3: Koné project Mineral Resource Estimate variance year-over-year PREVIOUS MRE1
(Published April 2025) UPDATED MRE2
(Published March 2026) YOY
VARIANCE

Resources shownTonnageGradeContent TonnageGradeContent on a 100% basis(Mt)(Au g/t)(Au koz) (Mt)(Au g/t)(Au koz) (Au koz)Koné deposit         Measured--- 8.60.83229 +229 Indicated2450.574,490 2000.684,404 (86)Measured & Indicated 245 0.57 4,490   209 0.69 4,632  +142  Inferred370.43510 750.521,259 +749 Gbongogo Main deposit         Measured--- --- - Indicated121.46560 161.51783 +223 Measured & Indicated 12 1.46 560   16 1.51 783  +223  Inferred0.10.892.0 1.21.0841 +39 Other satellite depositsMeasured--- --- - Indicated4.21.17160 131.12466 +306 Measured & Indicated 4.2 1.17 160  13 1.12 466  +306 Inferred8.41.00269 7.61.07262 (7)Sub-total satellite depositsMeasured--- --- - Indicated161.38720 291.341,249 +529 Measured & Indicated 16 1.38 720   29 1.34 1,249  +529  Inferred8.41.00270 8.81.07303 +33 Total         Measured--- 8.60.83229 +229 Indicated2610.625,210 2290.775,652 +445 Measured & Indicated 261 0.62 5,210   238 0.77 5,881  +671  Inferred450.54780 840.581,562 +782 1) Previous MRE as disclosed in the Company’s press release dated April 8, 2025, available on Montage’s website and on SEDAR+. 2) See Note 2 on Table 1, Table A1 in Appendix A and “Technical Disclosure” below for details.
Table 4 below presents the evolution of the MRE for the Koné project since the UFS published on January 16, 2024. M&I Resources for the Koné project have increased by 1.02Moz to 5.88Moz at 0.77 g/t Au, representing a 22% increase in grade and 21% increase in ounces. Inferred Resources have increased by 1.16Moz to 1.56Moz at 0.58 g/t, representing a 16% increase in grade and 290% increase in ounces.

Table 4: Koné project Mineral Resource Estimate variance as compared to the UFS 2024 UPDATED FEASIBILITY STUDY1
(Published January 2024) UPDATED MRE2
(Published March 2026)  Resources shownTonnageGradeContent TonnageGradeContent Varianceon a 100% basis(Mt)(Au g/t)(Au koz) (Mt)(Au g/t)(Au koz) (Au koz)Koné deposit         Measured--- 8.60.83229 +229Indicated2290.594,340 2000.684,404 +64Measured & Indicated2290.594,340 2090.694,632 +292Inferred250.50400 750.521,259 +859Gbongogo Main deposit         Measured--- --- -Indicated 11 1.47 520   16 1.51 783  +263 Measured & Indicated111.47520 161.51783 +263Inferred--- 1.21.0841 +41Other satellite depositsMeasured--- --- -Indicated--- 131.12466 +466Measured & Indicated - - -   13 1.12 466  +466 Inferred--- 7.61.07262 +262Total         Measured--- 8.60.83229 +229Indicated2400.634,860 2290.775,652 +792Measured & Indicated2400.634,860 2380.775,881 +1,021Inferred250.50400 840.581,562 +1,1621) Updated Feasibility Study available on Montage’s website and on SEDAR+. 2) See Note 2 on Table 1, Table A2 in Appendix A and “Technical Disclosure” below for details.
KONÉ DEPOSIT DRILLING PROGRAMME

Advanced Grade Control, Grade Control and Resource Drilling Programmes
As shown in Table 5, a total of 59,873 meters were drilled in 2025, incorporating 56,487 meters of GC and AGC drilling data covering approximately the first 18 months of production from the Koné deposit, and a further 3,386 meters of resource drilling. Following the 2025 programme, the total amount of meters drilled at the Koné deposit now stands at 171,050 meters, incorporating 114,563 meters of resource drilling and 56,487 meters of GC and AGC drilling compared to 100,249 meters of resource drilling supporting the 2024 UFS.

Table 5: Koné deposit drill statistics  2025 PROGRAMME CUMULATIVE TOTAL DRILLING  HolesMeterage HolesMeterage  (#)(m) (#)(m)ProgrammeDrill Type     AGC │ 50m/25mRC9210,587 9210,587AGC │ 25m/25mRC976,710 976,710AGC Total 18917,297 18917,297GC │ 12.5m/12.5mRC1,17739,190 1,17739,190Programme Sub-Total 1,36656,487 1,36656,487Resource Drilling
AC-- 974,053RC151,399 35447,898RD -- 72,530DD41,987 15360,082Programme Sub-Total 193,386 611114,563Programme Total 1,38559,873 1,977171,050
All the assays from the 2025 programme have now been successfully obtained and integrated into the geological and resource models, as follows:

AGC drilling consisted of 189 reverse circulation (“RC”) drill holes totalling 17,297 meters, conducted on a 50 x 25 meter centred grid followed by a 25 x 25 meter grid. The objective of the AGC programme was to improve the geological model and develop greater resolution of the continuity of mineralisation across the Koné deposit, with drill holes generally deeper than GC holes.GC drilling consisted of 1,177 RC holes at an average depth of 33 meters, for a total of 39,190 meters, with the core objective targeting a robust definition of grade continuity and structural controls on the Koné deposit.Resource drilling consisted of 15 RC holes for a total of 1,399 meters and 4 diamond drill (“DD”) holes for a total of 1,987 meters, for a total of 19 holes totalling 3,386 meters, aiming to extend the extent of mineralisation towards the southeast and southwest of the deposit, respectively. The assayed results have significantly increased confidence in the grade distribution and structural controls of the Koné deposit. The gold mineralisation continuity informs an improved understanding of the mineralisation to support mining activities, whilst also demonstrating the extension potential of the deposit to the southwest, southeast and at depth. Best intercepts across the 2025 resource drilling, AGC and GC programmes are shown in Figure 1 below.

Figure 1: Koné deposit drilling highlighting resource drilling, Grade Control and Advanced Grade Control best intercepts

Koné deposit geology and structural interpretation
The Koné deposit is hosted within a north-south trending package of diorite intrusions which have been emplaced by multiple intrusive pulses during the later stages of the Eburnean orogeny (2,200 to 2,100 Ma). The diorite package at the Koné deposit has been identified up to 330 meters in true thickness, whilst extending over a 2.5 km strike length and currently defined to a depth > 500 meters. The diorite package has intruded into the contact zone between two different sequences of mafic volcaniclastic rocks which form the hanging wall and footwall of the deposit, as demonstrated in Figure 2 below.

Gold mineralisation is associated with quartz, quartz-carbonate and sulphide veins of various thicknesses, as well as finely disseminated pyrite and biotite alteration within the diorite intrusions.

Figure 2: Koné deposit structural analysis with schematic interpretation of strain controls

Mineralisation is interpreted to have primarily been controlled by a thrust-shear at the footwall of the diorite package. All the lithologies and primary mineralised veins have latterly been affected by high strain and fold-related deformations events, which consequently thickened the diorite sequence and redistributed the gold mineralisation. At a deposit scale the geometry of the orebody is that of an asymmetric synform yielding a steeply west-dipping axial plane and a pronounced plunge to the southwest.

Early observations of the Koné deposit highlight tight, isoclinal folding and high strain deformation features. The GC and AGC programmes have successfully validated these geological observations on a deposit-wide scale and have demonstrated that the structural complexity plays a vital role in controlling higher-grade mineralisation, enabling a robust understanding of spatial gold grade distribution.

Resource drilling programme results
Building on the successful GC and AGC drilling results, the Company continues to identify mineralisation extensions to the Koné deposit. Downdip and along strike extensions of the Koné deposit to the southwest, as well as recently identified at-surface oxide mineralisation extensions to the southeast were a focus of further evaluation in 2025.

Four DD holes totalling 1,987 meters were drilled in 2025 at a 100-meter spaced grid down to an approximate vertical depth of 300 meters. The purpose was to confirm the downdip continuity of the mineralization to the southwest of the Koné deposit within the diorite. All four diamond drill holes reveal high mineralization potential associated with increased deformation intensity through refolded veins within footwall volcanoclastic units and folded veinlets in diorite. Pervasive hydrothermal breccia zones, characterized by broken textures and strong feldspar and silica alteration, was consistently logged across all holes, indicating robust hydrothermal fluid flows. Observed zones demonstrating higher gold intercepts plot in the continuity of known higher-grade ore shoots controlled by folding axial planes, as earlier described in Figure 2, which are associated with ductile deformation and fluid pathways. Visible gold was identified in both diorite and volcanoclastic rocks in KONDD007A. Assay results in KONDD006 yield wider and higher-grade intervals, near mafic dykes associated with chalcopyrite, as shown in Figure 3. These results confirm the robust continuity of mineralization within the Koné system, with mineralization remaining open along strike and at depth, supporting further exploration and resource expansion potential.

Concurrently, 1,399 meters were drilled across 15 RC holes towards the southeastern extent of the Koné deposit. Drilling was undertaken on a wide grid spacing to test shallow mineralisation along strike. Drill results showed typical diorite-bearing mineralization with intercepts consistent with grades recorded across the Koné deposit at shallow depths. Further drilling in 2026 intends to confirm the continuity of the mineralisation which is currently outside of the Updated Koné MRE pit shell.

Remodelling and drilling programme results
The results of the GC and AGC programmes have significantly enhanced the grade distribution resolution compared to the UFS resource data as shown in Figure 3 below.

The updated MRE is based on a revised geology-driven modelling approach, integrating structural controls, lithology and grade distribution to define explicit, stationary estimation domains as shown in Figure 4 below. Mineral Resources were estimated using Ordinary Kriging (OK) with dynamic anisotropy, improving the representation of grade continuity and reducing grade smearing relative to the previous modelling methodology Multi Indicator Kriging (MIK).

Figure 3: Koné deposit - 370m RL level plan view of block models

Figure 4: Koné deposit cross section looking northeast

GBONGOGO MAIN DRILLING PROGRAMMES

Advanced Grade Control and Resource Drilling Programmes
As shown in Table 6, the total amount of meters drilled at the Gbongogo Main deposit now stands at 32,002 meters, as compared to the 18,276 meters of drilling prior to the UFS. All of the assays from the recent Gbongogo Main drilling programme have now been successfully obtained and integrated into the geological and resource models, as follows:

AGC drilling consisted of 30 reverse circulation (“RC”) drill holes totalling 2,961 meters, conducted on a 25 x 25 meter grid. The objective of the AGC programme was to improve the geological model and develop greater resolution of the continuity of mineralisation across the Gbongogo Main deposit.Resource drilling consisted of 47 RC holes for a total of 4,331 meters, aiming to control the extent of mineralisation across all directions, as well as down dip. Table 6: Gbongogo Main deposit drill statistics  2025 AND JANUARY 2026 PROGRAMMES CUMULATIVE TOTAL DRILLING  HolesMeterage HolesMeterage  (#)(m) (#)(m)ProgrammeDrill Type     AGC │ 25m/25mRC302,961 434,181Programme Sub-Total 302,961 434,181Resource Drilling
AC-- 19741RC474,331 11211162DD-- 6115,918Programme Sub-Total 474,331 19227,821Programme Total 777,292 23532,002
The Gbongogo Main drill programme has improved the understanding of grade continuity, structural controls and domain geometry, and supported increased confidence in the resource. Best intercepts across the 2025 resource drilling and AGC programmes are shown in Figure 5 below.

Figure 5: Gbongogo Main deposit drilling highlighting resource drilling and advanced grade control best intercepts

Gbongogo Main deposit geology and structural interpretation
The Gbongogo Main deposit is a mesothermal, lithologically constrained gold system, hosted within an approximately 50° north-plunging quartz diorite intrusion. Mineralization is predominantly confined within this intrusive unit, with volcaniclastic sequences forming the hanging wall and footwall. Gold mineralization is associated with quartz veining, shearing and disseminated sulphide (pyrite) alteration, with strong lithological and structural control on grade distribution. The mineralized corridor exhibits a consistent north-plunging geometry, aligned with the regional structural framework of the Senoufo Greenstone Belt, reinforcing geological continuity and predictability of the system.

Figure 6: Gbongogo Main deposit highlighting mineralised diorite body and open extensions at depth

Remodelling and drilling programme results
The results of the Gbongogo Main Drill Programme have significantly enhanced the grade distribution resolution compared to the UFS resource data. The transition from a Multiple Indicator Kriging resource estimation model to Ordinary Kriging modelling has improved local estimation accuracy, ensuring accurate geological continuity of individually modelled veins sets. It is expected that the enhanced geological and resource model will improve controls on mine dilution whilst supporting stronger predictability for production planning.

When comparing Figure 7 to Figure 8 below, the updated model incorporates a refined interpretation of the ore body geometry, resulting in a resource model that better defines higher grade mineralised zones expecting to improve mine planning, ore selectivity and dilution controls.

Figure 7: Gbongogo Main deposit – cross section looking north showing UFS MIK resource block model

Figure 8: Gbongogo Main deposit – cross section looking north showing updated OK resource block model

UPCOMING CATALYSTS

Updated resources for satellite deposits, including Gbongogo South, Koban North, ANV, Yere North, Lokolo Main, Sena and Diouma North are expected to be published in the coming weeks;Maiden Mineral Resource Estimates for new discoveries, such as Petit Yao and Soman 1 & 2, are expected to be published over the course of 2026Further results of the ongoing 2026 exploration programme, comprising 90,000 meters of drilling across the Koné project;Closing of the African Gold transaction in Q2-2026;Drill results from the ongoing 9,000-meter drill programme at the Wendé advanced greenfield property in Q3-2026;Updated life of mine plan for the Koné project in late 2026;First gold pour in late Q4-2026 through the oxide circuit start up. ABOUT MONTAGE GOLD

Montage Gold Corp. (TSX: MAU) is a Canadian-listed company focused on becoming a premier African gold producer, with its flagship Koné project, located in Côte d’Ivoire, at the forefront. Based on the Updated Feasibility Study published in 2024 (the “UFS”), the Koné project has an estimated 16-year mine life and sizeable annual production of +300koz of gold over the first 8 years and is expected to enter production in Q2-2027.

CONTACT INFORMATION

For Investor Relations Inquiries:
Jake Cain
Strategy & Investor Relations Manager
[email protected]
+44-7788-687-567For Media Inquiries:
John Vincic
Oakstrom Advisors
[email protected] 
+1-647-402-6375For Regulatory Inquiries:
Kathy Love
Corporate Secretary
[email protected]
+1-604-512-2959    QUALIFIED PERSONS STATEMENT
The scientific and technical contents of this press release have been verified and approved by Silvia Bottero, BSc, MSc, a Qualified Person pursuant to National Instrument 43-101. Mrs. Bottero, EVP Exploration of Montage, is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (SACNASP), a member of the Geological Society of South Africa and a Member of AusIMM.

The Qualified Person for the Updated Koné MRE and the Updated Gbongogo Main MRE is Dr. Gregory Zhang of Snowden Optiro (Australia) who meets the requirements of NI 43-101 and is independent of Montage Gold Corp. Dr. Zhang is a member in good standing of the MAIG and MausIMM and has sufficient relevant experience with the type of mineralization, deposit type, and activity undertaken to qualify as a Qualified Person under NI 43-101.

Dr. Zhang did not directly participate in the fieldwork, but conducted a thorough review of the geological interpretation, drilling database, QA/QC results, and estimation methodology. In addition, he performed an independent peer review of the Koné and Gbongogo Main resource models, including checks on domain construction, variography, estimation parameters, and validation outputs. Dr. Zhang concluded that the resource modelling processes implemented by Montage Gold is consistent with industry best practices and provide a sound basis for classification and reporting of Mineral Resources. Dr. Zhang accepts full professional responsibility for the Updated Koné MRE and the Updated Gbongogo Main MRE presented in this press release.

TECHNICAL DISCLOSURE
Mineral Resource Estimates
Koné deposit – Updated Koné MRE
The Updated Koné MRE has been prepared by Mr. Rolly Wasonga, a full-time employee as Mineral Resource Manager of Montage Gold, and a Qualified Person as defined under NI 43-101. Mr. Wasonga has sufficient experience relevant to the style of mineralization and type of deposit under consideration. The estimates were independently reviewed, validated and approved by Dr. Gregory Zhang of Snowden Optiro (Australia), who is a Qualified Person as defined under NI 43-101 and is independent of Montage Gold.

The Updated Koné MRE has been classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards and reported in accordance with NI 43-101 – Standards of Disclosure for Mineral Projects, and has an effective date of the December 31, 2025.

The Updated Koné MRE incorporates a significantly expanded and validated drilling database, comprising 1,691 RC holes and 153 diamond drill holes, including 57,886 meters of additional RC drilling and 2,431 meters of diamond drilling completed during 2025. This dataset includes grade control, advanced grade control and resource drilling, significantly improving data density, geological confidence and continuity of mineralization across the deposit.

Mineralization at Koné is hosted within a structurally controlled diorite intrusive system, extending over approximately 2.5 km of strike, and subdivided into three principal lodes (1,000, 2,000 and 3,000). Gold mineralization is associated with zones of shearing, foliation and quartz–carbonate–sulphide veining, with higher grades linked to increased deformation intensity and vein density.

The Updated Koné MRE is based on a revised geology-driven modelling approach, replacing the previous single-domain methodology with explicit hard-boundary domains defined by lithology, structure and grade distribution. This approach aims to improve the representation of geological continuity and reduces grade smearing.

Domain MCF (Maptek Computing Framework), a machine learning-assisted domain modelling tool that generates domain boundaries directly from sample data, was used as first indication to support domaining and refine the interpretation of mineralization continuity, orientation and grade trends. This provides a robust statistical framework for defining geologically coherent and stationary estimation domains. In parallel, a numerical geological model was developed in Leapfrog, supporting the interpretation of mineralized trends and structural controls. These outputs were integrated within Maptek Vulcan, together with geological sections, structural interpretations and drillhole data, to construct explicit mineralized wireframes that accurately reflect the geometry and continuity of the system.

Mineral Resources were estimated using Ordinary Kriging (“OK”) applied to composited assay data, with dynamic anisotropy used to align estimation parameters with the geometry of the mineralized system. This represents a transition from the previous Multiple Indicator Kriging (“MIK”) methodology and results in improved grade selectivity and estimation robustness.

The updated model incorporates explicit domaining based on geological interpretation, supported by structural controls and grade continuity analysis, ensuring stationarity within estimation domains and consistency with the geological framework.

Bulk densities of 1.65 t/bcm, 2.55 t/bcm and 2.80 t/bcm were assigned to saprolite, saprock and fresh material, respectively, based on 4,656 immersion density measurements of wax-coated, oven-dried core samples collected by Company personnel. Density values are consistent with previous models, ensuring continuity and comparability of the estimates.

Mineral Resource classification for the Koné deposit has been completed in accordance with CIM Definition Standards (2014) and is based on a combination of drill spacing, geological continuity, and geostatistical parameters, including kriging efficiency (“KE”) and slope of regression (“SoR”) and mining infrastructures.

Measured Resources are defined in areas of high drilling density (typically ≤12.5 meter spacing) with strong geological continuity and high estimation confidence (KE and SoR >0.7), primarily supported by grade control drilling and the production readiness.Indicated Resources are defined in areas drilled at 25–50 meter drill spacing approximately, where continuity is well established and estimation quality is moderate to high and kriging metrics.Inferred Resources are defined in areas of wider drilling (up to 100 meter × 100 meter spacing), with lower confidence in continuity and estimation. Weathering surface was wire-framed representing the base of saprolite and top of fresh rock were interpreted and modelled from drill hole logging were used for density assignment and portioning the estimates by weathering zone. Within the general area of estimated resources, the interpreted base of saprolite averages around 26 meters below surface, and the underlying saprock averages around 11 meters thick with fresh rock occurring at an average depth of around 38 meters.

The previous Multiple Indicator Kriging (“MIK”) approach, which utilized multiple indicator thresholds based on composite grade percentiles and indicator variograms, has been superseded in the Updated Koné MRE by a geology-driven Ordinary Kriging (“OK”) methodology. Gold assay data were composited and analysed on a domain-by-domain basis, with grade capping (top-cutting) applied to limit the influence of high-grade outliers. Capping thresholds were determined through detailed statistical analysis, including review of grade distributions, probability plots and spatial continuity, ensuring a balanced representation of grade within each domain. Domain-specific top-cuts were applied where necessary, with capping values across all mineralized domains ranging from 4.8 g/t to 32.0 g/t Au. These thresholds were selected to limit the influence of isolated high-grade composites while preserving the overall grade distribution and maintaining geological continuity.

All geological modelling components, including data compilation, compositing, domaining, wireframing and block modelling, were completed using Maptek Vulcan. Statistical analysis, including exploratory data analysis and variography, was undertaken using Supervisor software, which was also used for kriging neighbourhood analysis (“KNA”) to optimize estimation parameters.

Model validation included comparisons between estimated block grades and informing composites, supported by detailed visual and statistical checks. These comprised the inspection of sectional plots integrating block model estimates and drillhole data, as well as the analysis of swath plots to assess grade trends and spatial consistency and showed no significant issues.

Optimal pit constraints:
To satisfy the definition of Mineral Resources having reasonable prospects for eventual economic extraction, the estimates are constrained within an optimal pit generated from the following key parameters:

Gold price of US$2,500/ozCombined Royalties of 5%Processing recovery of 93%, 91% and 89% for saprolite, saprock and fresh material, respectively.Overall slope angles of 39°, 58° and 60° for saprolite, saprock and fresh material, respectively.Average mining costs for saprolite, saprock and fresh material of $2.36/t, $2.33/t and $2.99/t, respectively.Processing costs (including G&A) of $7.96/t, $8.20/t and $9.41/t for saprolite, saprock and fresh material, respectively.The pit shell constraining the MRE extends over 2.5 kilometres of strike to a maximum depth of around 600 meters. Gbongogo Main deposit – Updated Gbongogo Main MRE
The Updated Gbongogo Main MRE has been prepared by Mr. Rolly Wasonga, a full-time employee as Mineral Resource Manager of Montage Gold, and a Qualified Person as defined under NI 43-101. Mr. Wasonga has sufficient experience relevant to the style of mineralization and type of deposit under consideration. The estimates were independently reviewed and approved by Mr. Gregory Zhang of Snowden Optiro (Australia), who is a Qualified Person as defined under NI 43-101 and is independent of Montage Gold.

The Updated Gbongogo Main MRE has been classified and reported in accordance with NI 43-101 and classifications adopted by CIM Council in May 2014 and has an effective date of the March 3, 2026.

The drilling dataset used for the Updated Gbongogo Main MRE comprises 1,139 RC reverse circulation (“RC”) and 61 diamond drilling (“DD”) totalling 30,544 meters of drilling and including holes by Barrick Gold Corporation, Endeavour Mining Corporation, Randgold Resource Limited and Montage.

Mineral Resource are reported within an optimized open pit shell generated using a gold price of US$2,500/oz, constrained by topographic surfaces derived from recent surveys, and reflect updated economic assumptions.

The Updated Gbongogo Main MRE adopts a revised geology-driven modelling approach, replacing previous methodologies with explicit hard-boundary domains defined by lithology, structures and grade distribution.

Domaining was completed using a combined geological and quantitative workflow integrating DomainMCF (Maptek Computing Framework), Leapfrog numerical modelling, and interval selection informed by the veining system. DomainMCF, a machine learning-assisted domain modelling tool that generates domain boundaries directly from sample data, was applied to support the definition of mineralization continuity, orientation and grade trends. Leapfrog numerical modelling supported the interpretation of structural controls and mineralized trends, while interval selection based on veining intensity and grade distribution was used to refine domain boundaries and capture local variations in mineralization. The final mineralized wireframes were generated in Leapfrog and then imported into Maptek Vulcan for block modelling, grade estimation and reporting.

Mineral Resources were estimated using a geology-driven Ordinary Kriging (“OK”) approach, replacing the previous Multiple Indicator Kriging (“MIK”) methodology. Gold assay data were composited and analysed on a domain-by-domain basis, with grade capping applied where necessary. Capping thresholds were determined through statistical analysis of grade distributions and spatial continuity, with values ranging from 20.0 g/t Au and 95.0 g/t Au across domains to limit the influence of high-grade outliers while preserving geological continuity.

Statistical analysis, including variography and kriging neighbourhood analysis (“KNA”), was undertaken using Supervisor software to optimize estimation parameters. Estimation and block modelling were completed in Maptek Vulcan, ensuring consistency across modelling workflows. Block model parameters were selected to reflect drill spacing and mining assumptions, with estimation constrained within geologically defined domains and supported by appropriate search strategies.

Mineral Resource classification is based on drill spacing, geological continuity and estimation quality, supported by geostatistical parameters including kriging efficiency (“KE”) and slope of regression (“SoR”) and mining infrastructures:

Indicated Resources: typically defined on ~25–50 meter drill spacing, with moderate to high confidence in continuity and estimation qualityInferred Resources: defined on wider drill spacing (up to ~100 meters) with lower confidence in continuity Areas lacking sufficient data density or geological confidence are excluded from the Mineral Resource Estimate.

Bulk densities of 1.67 t/bcm, 2.58 t/bcm and 2.75 t/bcm were assigned to saprolite, saprock and fresh material, respectively, based on 1,011 immersion density measurements of wax-coated, oven-dried core samples collected by Company personnel. Density values are consistent with previous models, ensuring continuity and comparability of the estimates.

Model validation included comparison of estimated block grades with informing composites, supported by inspection of sectional plots and swath plots. These checks confirm good agreement between estimated grades and input data, with no material biases identified.

Geological modelling components including data compilation and domaining were performed by Leapfrog Sequent, while the compositing and block modelling were completed using Maptek Vulcan. Statistical analysis, including exploratory data analysis and variography, was undertaken using Supervisor software, which was also used for kriging neighbourhood analysis (“KNA”) to optimize estimation parameters.

Optimal pit constraints:
To satisfy the definition of Mineral Resources having reasonable prospects for eventual economic extraction, the estimates are constrained within optimal pits generated from the following key parameters:

Gold price of US$2,500/ozCombined royalties of 5%.Processing recovery of 90%.Overall slope angles of 35°, 40° and 45° for saprolite, saprock and fresh material, respectively.Mining costs of US$3.42 per tonne.Processing costs (including G&A) of US$9.92 per tonne.Haulage costs per tonne of $7.90 Gbongogo South deposit MRE
The Gbongogo South deposit has been reported on an optimized pit shell using a gold price of US$2,500/oz, as opposed to the US$2,000/oz in the previous Gbongogo South deposit MRE. All other assumptions, parameters and methods used in the preparation of the Gbongogo South deposit MRE, including the data verification and the QA/QC undertaken for the Gbongogo South deposit MRE are those set out in the press release dated July 21, 2025. Refer to the press release dated July 21, 2025, available on Montage's website and on Sedar+.

Koban North deposit MRE
The Koban North deposit has been reported on an optimized pit shell using a gold price of US$2,500/oz, as opposed to the US$2,000/oz in the previous Koban North deposit MRE. All other assumptions, parameters and methods used in the preparation of the Koban North deposit MRE, including the data verification and the QA/QC undertaken for the Koban North deposit MRE are those set out in the press release dated July 21, 2025. Refer to the press release dated July 21, 2025, available on Montage's website and on Sedar+.

ANV deposit MRE
The ANV deposit has been reported on an optimized pit shell using a gold price of US$2,500/oz, as opposed to the US$2,000/oz in the previous ANV deposit MRE. All other assumptions, parameters and methods used in the preparation of the ANV deposit MRE, including the data verification and the QA/QC undertaken for the ANV deposit MRE are those set out in the press release dated November 5, 2025. Refer to the press release dated November, 5, available on Montage's website and on Sedar+.

Other satellite deposits
All other satellite deposit MREs are unchanged from their previous reported estimates. Refer to the press release dated April 8, 2025, for further details of these estimates, available on Montage's website and on Sedar+.

Sampling & Assaying - QA/QC
All exploration activities on the Koné project are designed and carried out under the supervision of Silvia Bottero, Executive Vice President, Exploration who conducted multiple site visits throughout 2025. Ms. Bottero is a Professional Natural Scientist (SACNASP) and a Qualified Person as defined under NI 43-101. Samples used for the Updated MRE comprise diamond drilling (“DD”) and reverse circulation (“RC”) drilling, and were collected following industry-standard protocols to ensure representative and reliable assay results.

DD core samples were collected as 1 meter downhole composites, consistent with geological logging and sampling protocols. Core was cut longitudinally in half using a diamond saw at the field camp facilities, with one half submitted for assay and the remaining half retained for reference.

RC samples were collected at nominal 1 meter downhole intervals from the cyclone and discharged into sample bags. The bulk sample was passed through a riffle splitter and/or a three-tier riffle splitter (1/3 splitter) to obtain a representative analytical sub-sample, while the remaining material was retained as a coarse reject. Sample weights were monitored to ensure consistency and representativity, with typical analytical sample masses in the order of 2–3 kg, depending on drilling conditions and sample characteristics. Strict sampling protocols were applied, including routine cleaning of the cyclone and splitter, to minimise contamination and ensure sample integrity. All samples were securely transported under chain-of-custody procedures to the Bureau Veritas laboratory in Abidjan, Côte d’Ivoire for preparation and analysis.

During 2025, a total of 17,063 AGC primary samples and 38,851 GC primary samples from Koné deposit were analysed by MSALAB facilities in Yamoussoukro, Cote d’Ivoire. Of these, approximately 5% s were submitted as umpire pulp duplicates to Bureau Veritas facilities in Abidjan, Cote d’Ivoire. This umpire programme was implemented to independently verify the accuracy and reliability of the primary laboratory, MSALAB, analytical results.

During 2025, a total of 7,938 AGC and Resources primary samples from Gbongogo Main deposit and 4,851 Resources primary samples from Koné deposit were analysed by Bureau Veritas facilities in Abidjan, Cote d’Ivoire. Of these, approximately 5% were submitted as umpire pulp duplicates to MSALAB facilities in Yamoussoukro, Cote d’Ivoire. This umpire programme was implemented to independently verify the accuracy and reliability of the primary laboratory, Bureau Veritas, analytical results.

All primary samples were transported under a secure chain of custody procedure.

All samples underwent the following preparation and analytical procedures at both laboratories (BV and MSALAB):

Crushing to 2 mm (≥ 80% passing)Splitting to obtain a 1 kg representative sub-samplePulverisation to 75 µm (≥ 85% passing)Analysis by 50 g fire assay with Atomic Absorption Spectrometry (AAS) finish The analytical method has a lower detection limit of 0.01 ppm Au, which is appropriate for the grade range encountered at the Koné project.

A robust and systematic in-house QA/QC programme was implemented and actively managed by Montage to ensure continuous monitoring of analytical accuracy, precision, and potential contamination throughout the entire sampling, preparation, and analytical workflow.

Batch-level QA/QC performance is reviewed systematically, allowing rapid identification and resolution of any analytical issues.

To further validate analytical accuracy and laboratory performance, an independent umpire laboratory programme is implemented. Approximately 5% of selected pulp samples are routinely submitted to an external laboratory (MSALABS and BV) for check assaying using internationally recognised analytical methods and QA/QC protocols. The submitted samples include a mix of routine samples, blanks, CRMs, and duplicates to ensure comprehensive verification of results. QA/QC has been designed to be in line with industry best standards and the results reviewed by the Qualified Person. Individual batches are monitored for standard and blank failure during import to the database, whilst longer term QA/QC trends are monitored on a periodic basis by Jonathan Hunt, an independent consultant to Montage and a Chartered Geologist of the Geological Society of London.

Results from the primary laboratory (BV and MSALAB) and the umpire laboratory (MSA and BV) are systematically compared using statistical methods (e.g., scatter plots, QQ plots, bias analysis), with no material bias typically identified.

In addition, longer-term QA/QC performance trends are reviewed on a periodic basis by an independent consultant, ensuring an objective assessment of laboratory performance and data quality.

Results for exploration drillholes (all satellite deposits) used the following parameters: 0.3 g/t Au cut off for samples, 0.5 g/t Au minimum value composite and 2.0 meter maximum interval dilution length. Composite intervals represent (apparent) downhole thickness. “Including” represents >10.0 g/t Au. Results for exploration drillholes (Koné deposit) used the following parameters: 0.2 g/t Au cut off for samples, 0.3 g/t Au minimum value composite and 10.0 meter maximum interval dilution length. Composite intervals represent (apparent) downhole thickness. “Including” represents >10.0 g/t Au.

Data Verification
Data verification for the Koné and the Gbongogo Main deposits was carried out by Rolly Wasonga, a full-time employee as Mineral Resource Manager of Montage Gold, and a Qualified Person as defined under NI 43-101 who conducted multiple site visits throughout 2025 and 2026. Mr. Rolly Wasonga considers that the sample preparation, security, and analytical procedures adopted for drilling informing this release are an adequate basis for the statistical analysis. Procedures implemented to monitor the representativity of field sampling, as well as the reproducibility and accuracy of sample preparation and analytical results for the Koné project (AC, RC and DD drilling), are consistent with industry best practices and the experience of the Qualified Person (QP). Data supporting sample representativity include sample condition logs for RC, aircore and diamond drilling, recovered sample weights, core recovery measurements, and assay results from field duplicates. These controls confirm that sampling is conducted in a manner that is representative of the mineralized material. The reliability of sample preparation and analytical results is supported through the routine insertion and monitoring of quality control samples, including coarse blanks, certified reference materials (standards), and duplicates, demonstrating acceptable levels of accuracy and precision.

Mr. Jonathon Abbott, of Matrix Resource Consultants of Perth, Western Australia, who is considered to be independent of Montage Gold, a member in good standing of the Australian Institute of Geoscientists and qualified as a Qualified Person under NI 43–101, conducted site visits to the Koné and Gbongogo deposits in September 2023, and to the Koban North, Sena, Gbongogo South, Diouma North, Lokolo Main, Yere North and ANV deposits in October 2024. Based on these visits, Mr. Abbott concluded that the sampling procedures, sample preparation, security protocols and analytical methods applied to drilling data informing the Mineral Resource Estimates for Sena, Yere North, Diouma North, Lokolo Main and ANV provide an adequate and reliable basis for Mineral Resource estimation.

In addition, an independent site visit and technical review was conducted by Arethuse Geology in November 2025, which confirmed that the sampling methodologies, QA/QC procedures, and data management systems are robust, well implemented, and fit for purpose for Mineral Resource estimation.

These independent assessments are complemented by ongoing internal verification by the Company’s Qualified Person, including database validation, QA/QC monitoring, and periodic site reviews. Data verification checks undertaken by Mr. Rolly Wasonga included checking for internal consistency between and within database tables and comparisons between database entries and selected laboratory reports and selected original field records.

A further independent site visit is planned for April 2026 with Dr. Gregory Zhang of Snowden Optiro, an independent Qualified Person, to verify sampling protocols, data integrity, and the procedures supporting the updated Mineral Resource Estimates.

FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking information and forward-looking statements within the meaning of Canadian securities legislation (collectively, “Forward-looking Statements”). All statements, other than statements of historical fact, constitute Forward-looking Statements. Words such as “will”, “intends”, “proposed” and “expects” or similar expressions are intended to identify Forward-looking Statements. Forward-looking Statements in this press release include statements related to the Company’s mineral reserve and resource estimates; the timing and amount of future production from the Koné project; anticipated mining and processing methods of the Koné project; anticipated mine life of the Koné project; targeted improvements in the production profile; the items listed under the heading “Next Steps”, including new MREs and LOM plans; results of drill programs, and the timing thereof; growth of resource estimates at satellite deposits; statements that updated resources for satellite deposits, including Gbongogo South, Koban North, ANV, Yere North, Lokolo Main, Sena and Diouma North are expected to be published in the coming weeks, while maiden resources for new discoveries such as Petit Yao, Soman 1 & 2 and Lokolo West are expected to be published throughout the year based on completion of phased explorations programmes; the grade and quantity potential of exploration targets; establishing new maiden resources; expected recoveries and grades of the Koné project; timing in respect of the completion of construction; timing and amount of necessary financing related to the mining operations at the Koné project; expected additions to the land package at Kone; and timing for permits and concessions, including that the Company will receive all approvals necessary to complete construction of the project and conduct exploration. Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There is no assurance that any economic satellite deposits will be discovered, and if discovered ever developed or mined. There can be no assurance that any Forward-looking Statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from include uncertainties inherent in the preparation of mineral reserve and resource estimates and definitive feasibility studies, and in delineating new mineral reserve and resource estimates, including but not limited to, assumptions underlying the production estimates not being realized, incorrect cost assumptions, unexpected variations in quantity of mineralized material, grade or recovery rates being lower than expected, unexpected adverse changes to geotechnical or hydrogeological considerations, or expectations in that regard not being met, unexpected failures of plant, equipment or processes (including construction equipment), delays in or increased costs for the delivery of construction equipment and services, unexpected changes to availability of power or the power rates, failure to maintain permits and licenses, higher than expected interest or tax rates, adverse changes in project parameters, unanticipated delays and costs of consulting and accommodating rights of local communities, environmental risks inherent in the Côte d’Ivoire, title risks, including failure to renew concessions, unanticipated commodity price and exchange rate fluctuations, delays in or failure to receive access agreements or amended permits, and other risk factors set forth in the Company’s most recent Annual Information Form available at www.sedarplus.ca, under the heading “Risk Factors”. The Company undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Montage to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

APPENDIX A: KONÉ PROJECT DETAILED MINERAL RESOURCE ESTIMATE VARIANCES

Table A1: Koné project detailed Mineral Resource Estimate and variance versus the Previous Mineral Resource Estimate PREVIOUS MRE1 UPDATED MRE2  Resources shown on aTonnageGradeContent TonnageGradeContent Variance100% basis(Mt)(Au g/t)(Au koz) (Mt)(Au g/t)(Au koz) (Au koz)Koné deposit         Measured Resources--- 8.60.83229 +229 Indicated Resources2450.574,490 2000.684,404 (86)M&I Resources2450.574,490 2090.694,632 +142 Inferred Resources370.43510 750.521,259 +749 Gbongogo Main deposit         Measured Resources--- --- - Indicated Resources121.46560 161.51783 +223 M&I Resources121.46560 161.51783 +223 Inferred Resources0.070.892.0 1.21.0841 +39 Gbongogo South deposit         Measured Resources--- --- - Indicated Resources1.71.2066 3.91.22154 +88 M&I Resources1.71.2066  3.91.22154 +88 Inferred Resources2.61.1092 1.81.1770 (22)Koban North deposit         Measured Resources--- --- - Indicated Resources--- 4.11.07141 +141 M&I Resources---  4.11.07141 +141 Inferred Resources3.90.9113 1.50.8943 (70)ANV (Sissédougou) deposit         Measured Resources--- --- - Indicated Resources--- 4.01.05136 +136 M&I Resources1.61.1057  4.01.05136 +136 Inferred Resources0.881.1031 3.31.09117 +86 Yere North deposit         Measured Resources--- --- - Indicated Resources0.191.056.4 0.191.056.4 - M&I Resources0.191.056.4  0.191.05 6.4 - Inferred Resources0.431.1015 0.431.1015 - Lokolo Main deposit         Measured Resources--- --- - Indicated Resources0.301.6116 0.301.6116 - M&I Resources0.301.61 16 0.301.61 16 - Inferred Resources0.111.103.9 0.111.103.9 - Sena deposit         Measured Resources--- --- - Indicated Resources--- --- - M&I Resources--- --- - Inferred Resources0.421.0014 0.421.0014 - Diouma North deposit         Measured Resources--- --- - Indicated Resources0.380.9512 0.380.9512 - M&I Resources 0.38 0.95 12  0.38 0.95 12 - Inferred Resources0.011.000.3 0.011.000.3 - Sub-total Satellites deposits         Measured Resources--- --- - Indicated Resources161.38720 291.341,249 +529 M&I Resources 161.38720 291.341,249 +529 Inferred Resources8.41.00270 8.81.07303 +33 Total         Measured Resources--- 8.60.83229 +229 Indicated Resources2610.625,210 2290.775,652 +442 M&I Resources2610.625,210 2380.775,881 +671 Inferred Resources450.54780 840.581,562 +782 1) Previous Resource Estimate as disclosed in the Company’s press release dated April 8, 2025, available on Montage’s website and on SEDAR+. 2) Updated MRE is reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and follows the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources. The Updated MRE for the Koné deposit (“Updated Koné MRE”) has an effective date of December 31, 2025, and is reported at a gold cut-off grade of 0.20 g/t Au and the updated MRE for the Gbongogo Main deposit (“Updated Gbongogo Main MRE”) has an effective date of March 3, 2026, and is reported at a gold cut-off grade of 0.50 g/t Au. The Updated Koné MRE and Updated Gbongogo Main MRE was prepared by Mr. Rolly Wasonga, Qualified Person and employee of Montage, and reviewed and approved by Dr. Gregory Zhang, employee of Snowden Optiro, Australia, who is independent from Montage and a Qualified Person as defined by NI 43-101. The Updated Koné MRE and the Updated Gbongogo Main MRE are constrained within an optimized open-pit shell generated using a gold price of US$2,500 per ounce. The Updated MRE accounts for a change in the constrained optimized open-pit shell generated using a gold price of US$2,500 per ounce on the Gbongogo South and Koban North deposits (as previously published on July 21, 2025) and the ANV deposit (as previously published on November 6, 2025). All other deposits are unchanged from the previous mineral resource estimate disclosed on April 8, 2025, and all previous estimates are available on Montage’s website and on SEDAR+. The Updated Koné MRE is reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. See “Technical Disclosure” for details.
  Table A2: Koné project detailed Mineral Resource Estimate and variance versus the UFS 2024 UPDATED FEASIBILITY STUDY1 UPDATED MRE2  Resources shown on aTonnageGradeContent TonnageGradeContent Variance100% basis(Mt)(Au g/t)(Au koz) (Mt)(Au g/t)(Au koz) (Au koz)Koné deposit         Measured Resources--- 8.60.83229 +229Indicated Resources2290.594,340 2000.684,404 +64M&I Resources2290.594,340 2090.694,632 +292Inferred Resources250.5400 750.521,259 +859Gbongogo Main deposit         Measured Resources--- --- -Indicated Resources111.47520 161.51783 +263M&I Resources111.47520 161.51783 +263Inferred Resources--- 1.21.0841 +41Gbongogo South deposit         Measured Resources--- --- -Indicated Resources--- 3.91.22154 +154M&I Resources---  3.91.22154 +154Inferred Resources--- 1.81.1770 +70Koban North deposit         Measured Resources--- --- -Indicated Resources--- 4.11.07141 +141M&I Resources---  4.11.07141 +141Inferred Resources--- 1.50.8943 +43ANV (Sissédougou) deposit         Measured Resources--- --- -Indicated Resources--- 4.01.05136 +136M&I Resources---  4.01.05136 +136Inferred Resources--- 3.31.09117 +117Yere North deposit         Measured Resources--- --- -Indicated Resources--- 0.191.056.4 +6.4M&I Resources---  0.191.05 6.4 +6.4Inferred Resources--- 0.431.1015 +15Lokolo Main deposit         Measured Resources--- --- -Indicated Resources--- 0.301.6116 +16M&I Resources--- 0.301.61 16 +16Inferred Resources--- 0.111.103.9 +3.9Sena deposit         Measured Resources--- --- -Indicated Resources--- --- -M&I Resources--- --- -Inferred Resources--- 0.421.0014 +14Diouma North deposit         Measured Resources--- --- -Indicated Resources--- 0.380.9512 +12M&I Resources---  0.38 0.95 12 +12Inferred Resources--- 0.011.000.3 +0.3Sub-total Satellites deposits         Measured Resources--- --- -Indicated Resources111.47520 291.341,249 +729M&I Resources 111.47520 291.341,249 +729Inferred Resources--- 8.81.07303 +303Total         Measured Resources--- 8.60.83229 +229Indicated Resources2400.634,860 2290.775,652 +792M&I Resources2400.634,860 2380.775,881 +1,021Inferred Resources250.50400 840.581,562 +1,1621) Updated Feasibility Study available on Montage’s website and on SEDAR+. 2) Updated MRE is reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and follows the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources. The Updated MRE for the Koné deposit (“Updated Koné MRE”) has an effective date of December 31, 2025, and is reported at a gold cut-off grade of 0.20 g/t Au and the updated MRE for the Gbongogo Main deposit (“Updated Gbongogo Main MRE”) has an effective date of March 3, 2026, and is reported at a gold cut-off grade of 0.50 g/t Au. The Updated Koné MRE and Updated Gbongogo Main MRE was prepared by Mr. Rolly Wasonga, Qualified Person and employee of Montage, and reviewed and approved by Dr. Gregory Zhang, employee of Snowden Optiro, Australia, who is independent from Montage and a Qualified Person as defined by NI 43-101. The Updated Koné MRE and the Updated Gbongogo Main MRE are constrained within an optimized open-pit shell generated using a gold price of US$2,500 per ounce. The Updated MRE accounts for a change in the constrained optimized open-pit shell generated using a gold price of US$2,500 per ounce on the Gbongogo South and Koban North deposits (as previously published on July 21, 2025) and the ANV deposit (as previously published on November 6, 2025). All other deposits are unchanged from the previous mineral resource estimate disclosed on April 8, 2025, and all previous estimates are available on Montage’s website and on SEDAR+. The Updated Koné MRE is reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. See “Technical Disclosure” for details. 
APPENDIX B: KONÉ AND GBONGOGO MAIN DEPOSITS SENSITIVITY AND VARIANCE BY ORE TYPE

Table B1: Koné deposit Mineral Resource Estimate by cut-off grade at $2,000/oz  MEASURED INDICATED INFERREDCut-off
Au g/t Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz) Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz) Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz)0.10 10.60.70238 288.90.524,830 96.20.391,2060.20 8.60.83229 200.00.694,436 61.90.531,0550.30 8.20.86226 177.50.744,224 48.30.619460.40 7.50.91221 148.30.823,909 36.10.698020.50 6.60.97207 117.20.923,465 24.30.816320.60 5.61.05189 91.21.022,992 17.10.935110.70 4.61.13166 70.61.132,566 11.51.073940.80 3.71.23145 55.41.242,208 8.61.17325Updated Koné MRE is reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and follows the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources. The Updated Koné MRE has an effective date of December 31, 2025, and is reported at a gold cut-off grade of 0.20 g/t Au and is constrained within an optimized open-pit shell generated using a gold price of US$2,000 per ounce. The Updated Koné MRE was prepared by Mr. Rolly Wasonga, Qualified Person and employee of Montage, and reviewed by Dr. Gregory Zhang, employee of Snowden Optiro, Australia, who is independent from Montage and a Qualified Person as defined by NI 43-101. The Updated Koné MRE is reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. See “Technical Disclosure” below for details.
  Table B2: Koné deposit Mineral Resource Estimate by cut-off grade at $2,500/oz  MEASURED INDICATED INFERREDCut-off
Au g/t Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz) Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz) Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz)0.10 10.60.70238 291.50.514,779 118.10.381,4430.20 8.60.83229 201.40.684,404 75.30.521,2590.30 8.20.86226 178.50.744,246 58.10.601,1210.40 7.50.91221 148.70.823,921 43.00.699540.50 6.60.97207 117.40.923,472 28.80.817500.60 5.61.05189 91.41.022,996 20.00.935990.70 4.61.13166 70.71.132,569 13.51.064620.80 3.71.23145 55.41.242,210 10.01.17378Updated Koné MRE is reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and follows the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources. The Updated Koné MRE has an effective date of December 31, 2025, and is reported at a gold cut-off grade of 0.20 g/t Au and is constrained within an optimized open-pit shell generated using a gold price of US$2,500 per ounce. The Updated Koné MRE was prepared by Mr. Rolly Wasonga, Qualified Person and employee of Montage, and reviewed by Mr. Gregory Zhang, employee of Snowden Optiro, Australia, who is independent from Montage and a Qualified Person as defined by NI 43-101. The Updated Koné MRE is reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. See “Technical Disclosure” below for details. Table B3: Gbongogo Main deposit Mineral Resource Estimate by cut-off grade at $2,000/oz  MEASURED INDICATED INFERREDCut-off
Au g/t Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz) Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz) Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz)0.10 --- 18.01.37797 0.50.77130.20 --- 17.91.38796 0.50.78130.30 --- 17.71.40794 0.50.80120.40 --- 16.81.45784 0.40.91110.50 --- 15.41.54764 0.31.07100.60 --- 13.81.66736 0.21.2490.70 --- 12.31.78705 0.21.4180.80 --- 10.91.91671 0.11.557Updated Gbongogo Main MRE is reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and follows the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources. The Updated Gbongogo Main MRE has an effective date of March 30, 2026 and is reported at a gold cut-off grade of 0.50 g/t Au and is constrained within an optimized open-pit shell generated using a gold price of US$2,000 per ounce. The Updated Gbongogo Main MRE was prepared by Mr. Rolly Wasonga, Qualified Person and employee of Montage, and reviewed by Dr. Gregory Zhang, employee of Snowden Optiro, Australia, who is independent from Montage and a Qualified Person as defined by NI 43-101. The Updated Koné MRE is reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. See “Technical Disclosure” below for details.  Table B4: Gbongogo Main deposit Mineral Resource Estimate by cut-off grade at $2,500/oz  MEASURED INDICATED INFERREDCut-off
Au g/t Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz) Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz) Tonnage
(Mt)Grade
(Au g/t)Content
(Au koz)0.10 --- 19.31.33822 1.70.86470.20 --- 19.11.34822 1.70.86470.30 --- 18.81.35819 1.70.88470.40 --- 17.71.42807 1.40.97440.50 --- 16.11.51783 1.21.08410.60 --- 14.31.64751 0.91.21370.70 --- 12.61.76717 0.71.38320.80 --- 11.21.90681 0.61.5628Updated Gbongogo Main MRE is reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and follows the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources. The Updated Gbongogo Main MRE has an effective date of March 30, 2026 and is reported at a gold cut-off grade of 0.50 g/t Au and is constrained within an optimized open-pit shell generated using a gold price of US$2,500 per ounce. The Updated Gbongogo Main MRE was prepared by Mr. Rolly Wasonga, Qualified Person and employee of Montage, and reviewed by Dr. Gregory Zhang, employee of Snowden Optiro, Australia, who is independent from Montage and a Qualified Person as defined by NI 43-101. The Updated Koné MRE is reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. See “Technical Disclosure” below for details.  Table B5: Koné deposit Mineral Resource Estimate variance by ore type PREVIOUS MRE1 UPDATED MRE2  Resources shownTonnageGradeContent TonnageGradeContent Varianceon a 100% basis(Mt)(Au g/t)(Au koz) (Mt)(Au g/t)(Au koz) (Au koz)Measured Resources         Oxide--- 5.00.81131 +131 Transitional--- 1.60.8443 +43 Fresh--- 1.90.8955 +55 Total --- 8.60.83229 +229 Indicated ResourcesOxide140.53240 5.10.587 (153)Transitional100.55180 3.40.660 (120)Fresh2210.584,120 1930.74,280 +160 Total 2450.574,490 2010.684,404 (86)Measured and Indicated         Oxide140.53240 100.67218 (22)Transitional100.55180 50.64103 (77)Fresh2210.584,120 1950.694,335 +215 Total 2450.574,490 2100.694,632 +142 Inferred Resources         Oxide0.80.369.3 0.20.363.4 (5.9)Transitional0.30.343.3 0.10.341.5 (1.8)Fresh360.43500 750.431,254 +754 Total 370.43510 750.521,259 +749 1) Previous Resource Estimate as disclosed in the Company’s press release dated April 8, 2025, available on Montage’s website and on SEDAR+. 2) Updated Koné MRE is reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and follows the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources. The Updated Koné MRE has an effective date of December 31, 2025, and is reported at a gold cut-off grade of 0.20 g/t Au and is constrained within an optimized open-pit shell generated using a gold price of US$2,500 per ounce. The Updated Koné MRE was prepared by Mr. Rolly Wasonga, Qualified Person and employee of Montage, and reviewed by Dr. Gregory Zhang, employee of Snowden Optiro, Australia, who is independent from Montage and a Qualified Person as defined by NI 43-101. The Updated Koné MRE is reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. See “Technical Disclosure” below for details.
  Table B6: Gbongogo Main deposit Mineral Resource Estimate variance by ore type PREVIOUS MRE1 UPDATED MRE2  Resources shownTonnageGradeContent TonnageGradeContent Varianceon a 100% basis(Mt)(Au g/t)(Au koz) (Mt)(Au g/t)(Au koz) (Au koz)Measured Resources         Oxide--- --- - Transitional--- --- - Fresh--- --- - Total --- --- - Indicated Resources         Oxide0.71.5235 1.11.5352 +17 Transitional0.41.3417 0.61.4429 +12 Fresh10.51.46493 14.41.52702 +209 Total 12.01.46560 16.11.51783 +223 M&I Resources         Oxide0.71.5235 1.11.5352 +17 Transitional0.41.3417 0.61.4429 +12 Fresh10.51.46493 14.41.52702 +209 Total 12.01.46560 16.11.51783 +223 Inferred Resources         Oxide0.040.871.1 0.010.620.5 (0.6)Transitional0.010.710.1 0.010.620.2 +0.1 Fresh0.030.920.9 1.11.1040 +39 Total 0.070.892.0 1.21.0841 +39 1) Previous Resource Estimate as disclosed in the Company’s press release dated April 8, 2025, available on Montage’s website and on SEDAR+. 2) Updated Gbongogo Main MRE is reported in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and follows the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources. The Updated Gbongogo Main MRE has an effective date of March 30, 2026, and is reported at a gold cut-off grade of 0.50 g/t Au and is constrained within an optimized open-pit shell generated using a gold price of US$2,500 per ounce. The Updated Gbongogo Main MRE was prepared by Mr. Rolly Wasonga, Qualified Person and employee of Montage, and reviewed by Dr. Gregory Zhang, employee of Snowden Optiro, Australia, who is independent from Montage and a Qualified Person as defined by NI 43-101. The Updated Koné MRE is reported on a 100% basis. Rounding errors are apparent. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. See “Technical Disclosure” below for details.
  APPENDIX C: KONÉ PROJECT BEST INTERCEPTS FOR THE KONÉ AND GBONGOGO MAIN RESOURCE, ADVANCED GRADE CONTROL AND GRADE CONTROL PROGRAMMES1

Target
Hole ID
Drill Type
Collar LocationOrientation
Depth (m)
From (m)
To (m)
Apparent Width1
(m)Grade Uncut
(g/t Au)Comments(UTM Zone 29N)M Em NmRLDipAzimKoné
KORC028RC756,849964,728378-551251559615256.01.39 KORC030RC756,782964,775383-5512516011413.01.12 KORC030RC756,782964,775383-5512516024160136.00.92 KORC046RC756,894964,819384-551251550100100.01.04 KORC046RC756,894964,819384-551251551191267.01.23 KORC047RC756,943964,785383-5512514002525.00.50 KORC047RC756,943964,785383-55125140329765.01.29Incl. 1m @ 11.00 g/t from 87mKORC047RC756,943964,785383-5512514010411511.00.84 KORC059RC756,936964,971391-551258021614.00.44 KORC059RC756,936964,971391-5512580237855.01.08 KORC064RC756,981964,940390-551257012928.01.94 KORC064RC756,981964,940390-5512570374710.01.02 KORC064RC756,981964,940390-551257055616.01.02 KORC065RC756,992964,903389-551257075346.01.40 KORC082RC756,690964,626379-551257001919.01.41 KORC122RC756,787964,833386-551258002020.01.11 KORC122RC756,787964,833386-5512580274922.01.15 KORC130RC757,045964,866390-551257003636.01.22 KORC136RC756,903964,875388-551258018079.01.72 KORC140RC756,946964,935391-551257505252.01.31Incl. 1m @ 14.70 g/t from 16mKORC140RC756,946964,935391-551257558668.00.42 KORC145RC756,915964,987391-551257003232.00.94 KORC145RC756,915964,987391-5512570426725.01.11 KORC218RC756,726964,493375-551254003535.01.05 KORC221RC756,747964,524376-551254004040.01.35Incl. 1m @ 15.10 g/t from 17mKORC222RC756,754964,534376-551254004040.01.01 KORC223RC756,765964,526376-551253023028.01.30Incl. 1m @ 10.20 g/t from 24mKORC229RC756,741964,559377-551254003737.01.12 KORC236RC756,858964,507376-551252001010.01.95 KORC254RC756,814964,553378-551253003030.01.06 KORC255RC756,825964,546378-551253002727.01.00 KORC265RC756,749964,569377-551254004040.01.15 KORC266RC756,739964,576377-551254004040.01.38Incl. 1m @ 95.60 g/t from 24mKORC281RC756,687964,612378-551253011615.01.74Incl. 1m @ 31.00 g/t from 8mKORC322RC756,787964,603379-551254004040.01.33 KORC347RC756,724964,556377-551254004040.01.25 KORC387RC756,792964,631379-551254004040.01.20 KORC393RC756,709964,536376-551254004040.01.00Incl. 1m @23.70 g/t from 27mKORC430RC756,727964,691381-5512550175033.01.32 KORC462RC756,758964,669380-551255005050.01.15 KORC464RC756,788964,648379-551254004040.01.67Incl. 1m @ 29.60 g/t from 33m; Incl. 1m @ 94.30 g/t from 34mKORC465RC756,799964,641379-551254004040.01.20 KORC519RC756,796964,658379-551254003838.01.44 KORC531RC756,775964,673380-551255005050.01.11 KORC579RC756,781964,683379-551255005050.01.40 KORC580RC756,792964,675379-55125500.050.050.01.37 KORC595RC756,556964,338372-551252032017.01.81 KORC664RC756,789964,693378-55125500.050.050.01.39 KORC666RC756,760964,714380-55125501.050.049.01.39 KORC748RC756,801964,731379-551255005050.01.19 KORC751RC756,894964,818384-551254004040.01.29Incl. 1m @ 21.50 g/t from 9m; Incl. 1m @3 1.10 g/t from 19mKORC898RC756,981964,879390-551255004949.01.10 KORC901RC756,986964,800383-551254004040.01.17 KORC906RC756,935964,835386-551254002020.01.62 KORC906RC756,935964,835386-5512540284012.01.53 KORC917RC756,956964,866389-551255015049.01.41 KORC941RC756,970964,842387-5512540139381.57Incl. 1m @ 11.90 g/t from 33mKORC942RC756,984964,861390-5512550033331.49 KORC952RC757,071964,832387-551252041282.87 KORC973RC756,978964,897390-5512550043431.70Incl. 1m @ 10.30 g/t from 17m; Incl. 1m @ 12.20 g/t from 24m; Incl. 1m @ 10.70 g/t from 26mKORC974RC756,968964,904390-5512550044441.70 KORC976RC756,947964,918390-5512550050501.43 KORC990RC756,982964,925390-5512550341381.36 KORC991RC756,964964,922390-5512550248461.46 KORC992RC756,975964,914390-5512550244421.41 KORC993RC756,985964,907390-5512550334311.57 KORC996RC756,944964,936393-5512550150491.55Incl. 1m @ 12.60 g/t from 43mKORC999RC756,956964,974393-5512550038381.26Incl. 1m @ 16.60 g/t from 34mKORC1002RC756,938964,970393-55125502050301.40 KORC1011RC756,972964,932390-5512550048481.77Incl. 1m @ 10.500 g/t from 14mKORC1097RC756,924964,888396-5512550050501.48 KORC1113RC756,932964,897390-5512550050501.81Incl. 1m @ 12.30 g/t from 11mKORC1114RC756,942964,890390-5512550050501.67Incl. 1m @ 69.70 g/t from 5m; Incl. 1m @ 10.60 g/t from 49mKORC1116RC756,963964,875390-5512550050501.78 KORC1117RC756,973964,868390-5512550046461.39 KORC1131RC756,918964,878389-5512550050501.58Incl. 1m @ 26.70 g/t from 28mKoné Deeps
KONDD0006Core756,265964,312374-5512545318919891.60 KONDD0006Core756,265964,312374-55125453241253120.31 KONDD0006Core756,265964,312374-5512545326326960.33 KONDD0006Core756,265964,312374-55125453281306250.52 KONDD0006Core756,265964,312374-5512545333133760.47 KONDD0006Core756,265964,312374-55125453345395500.80 KONDD0006Core756,265964,312374-55125453401440390.51 GBM
GBMRC014RC769,316993,538351-55140140414871.35 GBMRC014RC769,316993,538351-55140140525420.91 GBMRC014RC769,316993,538351-5514014070101312.18Incl. 1m @ 11.37 g/t from 77mGBMRC014RC769,316993,538351-5514014010911781.25 GBMRC014RC769,316993,538351-5514014013213860.52 GBMRC036RC769,213993,432353-551401444575302.29Incl. 1m @ 30.25 g/t from 61mGBMRC037RC769,253993,463353-55140130152162.82 GBMRC037RC769,253993,463353-55140130253491.48 GBMRC037RC769,253993,463353-551401303863252.76Incl. 1m @ 14.42 g/t from 38m; Incl. 1m @ 12.16 g/t from 47mGBMRC038RC769,230993,451353-551401402751249.36Incl. 1m @ 22.68 g/t from 35m; Incl. 1m @ 157.2 g/t from 38mGBMRC038RC769,230993,451353-551401406575101.34 GBMRC038RC769,230993,451353-5514014078120423.73Incl. 1m @ 11.87 g/t from 99m; Incl. 1m @ 15.92 g/t from 100m; Incl. 1m @ 15.56 g/t from 101m; Incl. 1m @ 26.96 g/t from 102m; Incl. 1m @ 11.39 g/t from 103mGBMRC042RC769,299993,367352-5514050125242.24Incl. 1m @ 11.33 g/t from 5mGBMRC045RC769,248993,393352-55140100182812.70Incl. 1m @ 11.08 g/t from 15m; Incl. 1m @ 12.08 g/t from 18m; Incl. 1m @ 28.75 g/t from 40mGBMRC057RC769,274993,434353-601401083590552.71Incl. 1m @ 16.14 g/t from 38m; Incl. 1m @ 23.03 g/t from 42m; Incl. 1m @ 14.9 g/t from 43m; Incl. 1m @ 11.96 g/t from 66m
1All intercepts are apparent width. Based upon current interpretation it is estimated true thickness range between 70% and 90% of the drilled intersections.

Full drill results are available by clicking here.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/bf9ab150-3871-4ba9-944b-c12dedd61b33

https://www.globenewswire.com/NewsRoom/AttachmentNg/ea013c64-5d95-4e9e-883c-1989e6506102

https://www.globenewswire.com/NewsRoom/AttachmentNg/dfa24270-e941-488a-b118-c4dd82bbe98d

https://www.globenewswire.com/NewsRoom/AttachmentNg/016df1d8-d839-47d4-aceb-40735aba60cb

https://www.globenewswire.com/NewsRoom/AttachmentNg/ddbc50f0-6b89-4cbd-aca9-115d348d0ea0

https://www.globenewswire.com/NewsRoom/AttachmentNg/58f1cff4-ec6e-4973-b9c9-6d954b0e0108

https://www.globenewswire.com/NewsRoom/AttachmentNg/759e2dd8-d447-456f-b002-113edd6b8643

https://www.globenewswire.com/NewsRoom/AttachmentNg/3075fcb1-4474-4b1a-993b-cf4933e7c136

HomeETFs and Funds AnalysisETF Analysis

SummaryJEPI is upgraded to Strong Buy, while DIVO retains Buy, reflecting current market regime suitability.JEPI's more aggressive option strategy and defensive equity allocation position it for superior income stability and drawdown protection in anticipated flat, volatile markets.DIVO's value-tilted, dividend-focused approach offers better upside capture and long-term total return, making it a compelling full-cycle holding despite lower yield.Both ETFs outperform the S&P 500 in recent flattening conditions, but JEPI is better equipped for near-term volatility harvesting, while DIVO excels during rebounds.gorodenkoff/iStock via Getty Images

I have covered the Amplify CWP Enhanced Dividend Income ETF (DIVO) and the JPMorgan Equity Premium Income ETF (JEPI) separately and rated both as a Buy. Both are popular income ETFs with AUMs running

3.64K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

BEIJING, March 30, 2026 (GLOBE NEWSWIRE) -- KANZHUN LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ; HK: 2076) today announced the continued execution of its share repurchase program, utilizing around RMB34.5 million to repurchase 759,056 ordinary shares on March 27. Year-to-date in 2026, the Company has deployed over RMB540 million toward share repurchases. This move underscores the Company's ongoing commitment to shareholder returns.

3.89K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of ZH either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

March 30, 2026 04:47 ET  | Source: Shore Capital Stockbrokers Limited

FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
Rule 8.5 of the Takeover Code (the “Code”)

1.        KEY INFORMATION

(a)        Name of exempt principal trader:Shore Capital Stockbrokers Ltd(b)        Name of offeror/offeree in relation to whose relevant securities this form relates:
        Use a separate form for each offeror/offereeCAB Payments Holdings Plc(c)        Name of the party to the offer with which exempt principal trader is connected:CAB Payments Holdings Plc(d)        Date dealing undertaken:27 March 2026(e)        Has the EPT previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer?No 2.        DEALINGS BY THE EXEMPT PRINCIPAL TRADER

(a)        Purchases and sales

Class of relevant securityPurchases/ sales Total number of securitiesHighest price per unit paid/receivedLowest price per unit paid/receivedOrdinaryPurchases12,19386.8p82.7pOrdinarySales28787.9p83.6p (b)        Derivatives transactions (other than option)

Class of relevant securityProduct description
e.g. CFDNature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short positionNumber of reference securitiesPrice per unit      (c)        Options transactions in respect of existing securities

(i)        Writing, selling, purchasing or varying

Class of relevant securityProduct description e.g. call optionWriting, purchasing, selling, varying etc.Number of securities to which option relatesExercise price per unitType
e.g. American, European etc.Expiry dateOption money paid/ received per unit         (ii)        Exercising

Class of relevant securityProduct description
e.g. call optionNumber of securitiesExercise price per unit     (d)        Other dealings (including subscribing for new securities)

Class of relevant securityNature of dealing
e.g. subscription, conversionDetailsPrice per unit (if applicable)     The currency of all prices and other monetary amounts should be stated.

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

3.        OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
If there are no such agreements, arrangements or understandings, state “none”None

(b)        Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
(i)        the voting rights of any relevant securities under any option; or
(ii)        the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state “none”None

Date of disclosure:30 March 2026Contact name:Justin BallTelephone number:0207 601 6116 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [email protected]. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s dealing disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.