Majestic suspends production at Songjiagou mine

Executive Summary

• Majestic Gold Corp.’s subsidiary Yantai Zhongjia Mining voluntarily suspended major production at the Songjiagou underground mine effective Sept. 1, 2025 while awaiting renewal of its safety‑production permit.
• The suspension is expected to last until the permit is reissued, anticipated by end‑October 2025; open‑pit operations continue unaffected.
• No new safety‑production permit has been received yet, creating uncertainty around underground production volumes for Q4 2025.

Key Details

• Safety‑production permit for the Songjiagou underground mine expired on Sept. 11, 2025.
• Yantai Zhongjia submitted renewal documents to the Shandong Provincial Emergency Management Department in August 2025.
• Voluntary suspension of major underground production began on Sept. 1, 2025 to allow hazard investigations and potential safety rectifications.
• The company will continue processing ore already mined from the underground operation during the suspension period.
• Open‑pit mining at Songjiagou remains fully operational with no impact from the permit renewal process.
• Management anticipates receipt of the renewed safety‑production permit by the end of October 2025, subject to stricter safety protocols.
• Majestic will provide further updates on the permit application status and resumption of underground production.

Notable Quotes

(No direct quotes were provided in the release.)