ESGold Completes Montauban Mill Building Construction and Moves Toward Production Readiness

Executive Summary

• ESGold Corp. announced the completion of the main mill building at its fully permitted Montauban Gold‑Silver Project in Quebec, moving the project into the equipment procurement and commissioning phase.
• The company has begun sourcing key processing equipment for the Merrill‑Crowe circuit and expects first gold and silver production in 2026.
• A comprehensive 3‑D geological model is nearing public release to guide an upcoming exploration and drill program, supporting further resource expansion.

Key Details

• Mill Building Completion: Structural work, concrete flooring, interior divisions, on‑site gold room, and laboratory are fully finished; facilities now ready for metallurgical testing and doré storage.
• Next Phase – Equipment Procurement: Initiated sourcing of clarifying tanks, filtration units, vacuum systems, and other Merrill‑Crowe circuit components; delivery will be followed by system integration and commissioning.
• Production Timeline: Commissioning activities to commence shortly after equipment installation, with first gold and silver output targeted for 2026.
• 3‑D Geological Model: Final stages of a comprehensive model integrating geophysical, historical, and ANT survey data are being completed; public release will support new drill target identification.
• Upcoming Milestones:
• Public release of the Montauban 3‑D model.
• Launch of a targeted exploration and drilling program based on updated structural interpretations.
• Completion of equipment delivery, installation, and commissioning of the Merrill‑Crowe circuit.
• Economic Context: The project’s Updated Preliminary Economic Assessment (PEA) shows an after‑tax NPV (5%) of C$24.27 million and IRR of 60.3%, with a payback period under two years from production start.
• Risk Disclosure: Production decision is based on the PEA rather than a full feasibility study, indicating higher technical and economic risk.

Notable Quotes

“Completing the mill building is a defining achievement for ESGold… We are now focused on ordering, installing, and integrating equipment to bring Montauban online.” – Gordon Robb, CEO, ESGold Corp.