Montage Gold Corp. announced that further results from ongoing resource drilling at the Gbongogo Main deposit with in theon Gold Project ("KGP"). A resourced definition program was in late November 2022 designed to upgrade the Inferred Mineral Resource of 5.2Mt at 2.1g/t for351koz (1.2g/tcut off).

This program is beginning completion and continues to establish highergrade zones in the overall deposit. Highlights: Ongoing diamond drilling at Gbongogo Main defines and extends mineralization: GBDD035:113.25mat2.30g/t; GBDD037:48.00m at 1.72g/t; GBDD 038:45.75mat 1.90g/t; Results from quartztourmaline veins atGbongogo Main improve confidence of higher grade controls; GBDD039:20.50mat 10.95g/t; GBDD043:17.00mat8.56g/t; RC drilling at YERNRC drilling at YERNRC010:23mat 12.91g/t (twin of holeMMKAC141); YERNRC007:14mat 5.09g/t; Program continues with 4rigs drilling multiiplet targets across theon Gold Project. Drilling at Gbongogo Main Delivers Wide HighGrade Intervals and Depth Extension: Resource RC drilling of the upper part of the Gbongogo Main deposit was completed in January (3,042m) and core drilling commenced at the start of February with 3,372m drilled to date.

Gbongogo Main currently hosts an Inferred Mineral Resource of 5.2Mt at 2.1g/t for 351koz (1.2g/t cut off). The first four core holes were drilled down plunge to provide samples for metallurgical test work and since then drilling has been aimed at upgrading and extending the resource and to improve understanding of the quartz tourmaline vein sets that cut the plunging quartz diorite plug and are known to carry high grades. These latest drill results show that the plunging intrusive body is still open and widening at depth to a true width of close to 100m.

Recent drill holes have intersected very highgrade mineralization often containing free gold. High Grades Associated with Quartz Tourmaline Veins: Mineralization at Gbongogo Main is hosted within a plunging quartzdiorite plug. The intrusive is cut by a stockwork of thin quartztourmaline veins with numerous orientations.

In some historic drillholes the veins are better developed giving intercepts of 16.0m at 10.00g/t (GBRC013; 61m to 71m), 9.80m at 10.77g/t (GBDDH004; 85.4m to 95.2m) and 16.90m at 10.60g/t (GBDDH007; 61.2m to 78.1m) but in general these are irregular in nature. However, the new holes, which represent some of the highestgrade intercepts to date are located 50m apart and are related to some of the strongest and most consistent veining seen at Gbongogo Main. A key aspect to Montage's work with this drill program is to build an understanding of the controls on the veining so that it can be targeted specifically, and these intercepts will now be developed with further drilling.

Yeré North - followup RC drilling improves upon highgrade reconnaissance results: Following successful shallow reconnaissance drilling at Yeré North, seven RC holes for 842m have been completed as followup. This drilling has confirmed mineralisation on all sections, most notably on the southern line where two zones of mineralisation have been identified. The highgrade reconnaissance drilling intercept (3m composite samples) was twinned for confirmation with 1m samples (and returned a significantly better intercept of 23m at 12.91g/t (incl.

13m at 21.03g/t) relative to the earlier 27m at 8.97g/t (incl. 9m at 24.58g/t). Unfortunately, the hole drilled to test the depth extent failed due to bad ground conditions.

The prospect is at an early stage and remains open in all directions. Further lines of reconnaissance holes have been drilled north and south and once assay results are received, a further round of RC drilling will be undertaken. Outlook for second quarter: Over the course of second quarter, the Company intends to continue its aggressive exploration program across the KGP following upon initial success since November 2022.

The new discoveries recently identified will be prioritized to establish their resource potential. At the Gbongogo Main deposit work will also continue towards achieving an initial Indicated Resource. In the background, work is ongoing to expand upon the ESIA and complete the necessary engineering studies required to bring Gbongogo Main to a feasibility study level.