Recent Updates — AAUC

Allied Gold advances wet commissioning at its Kurmuk Mine in Ethiopia as the facility nears production startup. Ore stockpiles are close to the planned three-month level ahead of a November ramp-up, with ore feed expected this week and first gold targeted soon thereafter. The company anticipates total production of 25,000 to 35,000 gold ounces during the November-December period as commercial production begins. First-quarter 2027 quarterly production is projected at 55,000 to 65,000 ounces, while full-year 2027 guidance remains 240,000 to 270,000 ounces. Allied Gold operates a portfolio of gold mining assets in Africa.

Allied Gold Corporation announced exploration progress at its Kurmuk Mine in Ethiopia, highlighting the expansion of mineralized zones at Ashashire and Dish Mountain. The company reported high-grade intercepts, including 13.86 meters at 10.07 grams per tonne gold at Ashashire, supporting potential underground resources and pit expansions. Additionally, drilling along the 9-kilometer Tsenge Trend identified multiple high-grade zones, with an initial mineral resource estimate for Kiftet and Hiccup Hill expected by the first half of 2027. The Kurmuk Mine is currently completing commissioning, with first ore to the grinding circuit expected imminently. Allied Gold operates a portfolio of producing gold assets and development projects in Côte d'Ivoire, Mali, and Ethiopia.

Allied Gold Corp announced the appointment of Joanna Pearson as an independent director on its Board of Directors, effective August 18, 2026. Pearson brings over 25 years of experience in financial reporting and risk management within the mining sector, including prior roles as CFO of Endeavour Mining plc and Audit Partner at Deloitte LLP. Her appointment coincides with the departure of Daniel Racine, who stepped down to accommodate board size limits but will remain as an emeritus director. The company operates in the gold mining industry.

Allied Gold Corp announced the closing of a strategic investment by Zijin Gold International Company Limited via a non-brokered private placement of 12,800,000 common shares at C$32.55 per share, generating aggregate gross proceeds of C$416,640,000. Following the transaction, Zijin Gold holds approximately 9.2% of Allied's issued and outstanding common shares and retains customary participation rights to maintain its pro rata equity interest until ownership falls below 5 percent on a non-diluted basis. The net proceeds will fund growth initiatives, including operational optimizations, completion and ramp-up of the Kurmuk mine, phased expansion of Sadiola, production increases at the CDI Complex, and exploration efforts across Allied's portfolio. The issued shares are subject to a four-month-and-one-day hold period ending December 11, 2026, under Canadian securities laws, with Allied's Chairman, CEO, and Vice Chairman voluntarily agreeing to lock-up agreements for the same duration. Allied Gold Corp is a Canadian-based gold producer operating a portfolio of three producing assets and development projects in Côte d'Ivoire, Mali, and Ethiopia.