Esgold completes construction of Montauban mill

Executive Summary

• Esgold Corp. has completed the main mill building structure, concrete flooring, and interior divisions at its fully permitted Montauban gold-silver project in Quebec, marking a transition from construction to the commissioning phase.
• The company has initiated procurement for the Merrill Crowe circuit processing equipment (clarifying tanks, filtration units, and vacuum systems) and anticipates commissioning activities to follow shortly after installation.
• First gold and silver production from the Montauban project is anticipated in 2026, supported by an updated Preliminary Economic Assessment (PEA) showing strong economics.

Key Details

• Construction Status: The main mill building structure, concrete flooring, and interior divisions are fully complete. The on-site gold room and laboratory are finished for metallurgical testing and exploration analysis.
• Equipment Procurement: Esgold has started ordering processing equipment for the Merrill Crowe circuit, including clarifying tanks, filtration units, and vacuum systems.
• Production Timeline: The company targets the first gold and silver production in 2026.
• Exploration Updates: Geological teams are finalizing a comprehensive 3-D geological model integrating geophysical, historical, and ANT survey data to refine drill targets and identify deeper mineralized structures.
• Economic Metrics (from updated PEA):
  • After-tax NPV (5%): $24.27 million
  • After-tax IRR: 60.3%
  • Pretax NPV (5%): $44.53 million
  • Pretax IRR: 105.1%
  • Payback period: Less than two years from production start.
• Project Strategy: The project focuses on reprocessing historical tailings and producing gold and silver dore, with a dual-track strategy of near-term cash flow and long-term exploration upside.

Notable Quotes

• "Completing the mill building is a defining achievement for Esgold. This milestone transitions us from construction to commissioning and represents tangible progress toward near-term production," said Gordon Robb, CEO of Esgold. "Our team has done an incredible job keeping the project on schedule. We are now focused on ordering, installing and integrating equipment to bring Montauban on line."