Esgold confirms Montauban processing method

Executive Summary

• Esgold Corp. has validated its final processing methodology for the Montauban gold-silver project in Quebec, confirming that all feedstock, including railway tailings, will be processed through a Merrill Crowe closed circuit.
• Construction of the main mill building is nearing completion, with interior finishing and infrastructure expansion (gold room and laboratory) underway.
• The company is finalizing advanced 3-D geological modeling to guide an expanded exploration program and is preparing for equipment installation ahead of a targeted 2026 production start.

Key Details

• Processing Validation: Metallurgical tests confirmed that gravity separation alone was insufficient for direct gold/silver pouring from railbed material. Consequently, all Montauban feedstock will be processed directly through the Merrill Crowe closed circuit.
• Technical Supervision: Metallurgical work was supervised by Edmond St-Jean, PEng, with laboratory analyses performed by ALS Global in Val d'Or, Que.
• Construction Status:
  • Main mill building structure is complete; concrete foundations are in the final curing phase.
  • Interior finishing is ongoing, including the construction of a dedicated gold room and a fully equipped on-site laboratory.
  • Processing equipment already on-site (Humphrey spirals and shaker tables) will be installed, followed by the procurement and delivery of remaining Merrill Crowe circuit components.
• Exploration Updates:
  • Advanced 3-D geological modeling is in its final stages, integrating geophysical and historical data.
  • The model will define new exploration corridors and deeper mineralized structures to guide an expanded exploration program.
• Upcoming Milestones:
  • Completion of mill building and commissioning of the gold room and laboratory.
  • Finalization and release of the 3-D geological model.
  • Installation of the Merrill Crowe circuit and processing equipment.
  • Launch of the expanded exploration targeting program and drill permit applications.
  • Continued preparation for a 2026 production start.
• Project Status: The Montauban project is described as fully permitted and fully financed.

Notable Quotes

• Gordon Robb, CEO: "This work gave us exactly what we needed -- confirmation of the correct processing path before finalizing our equipment procurement. The metallurgical data supports our plan to process all Montauban feedstock through the Merrill Crowe circuit to be built during the final phase of construction, giving us the confidence to move ahead decisively. The site looks excellent, and construction is progressing faster than anticipated."