Anita Soni

Jeremy Hoy

Lawson Winder

Raj Ray

Brian MacArthur

Don DeMarco

Michael Parkin

John Sclodnick

Luke Bertozzi

- Cerrado Gold is accelerating and expanding its exploration program at the Minera Don Nicolas (MDN) gold mine, adding **three new drill rigs** and increasing the overall scope to approximately **50,000 meters in 2026**.  **[1854640_0e66dae7efbe440889eb2e13a7524607_1]** 
- The company is taking steps to **certify its on-site lab** to expedite assay results and improve turn-around times.  **[1854640_0e66dae7efbe440889eb2e13a7524607_0]** **[1854640_0e66dae7efbe440889eb2e13a7524607_1]** 
- Operations at MDN are performing well, with new investments in mining equipment increasing ore delivery to the leach pad at **300,000 tpm**, and initial higher-grade underground ore being fed to the mill.  **[1854640_0e66dae7efbe440889eb2e13a7524607_1]** 
- The primary goal is to **expand the mine life and potentially increase production levels** at MDN, aiming to demonstrate significant life-of-mine extension and growth potential by year-end.  **[1854640_0e66dae7efbe440889eb2e13a7524607_1]**

Cerrado Gold Accelerates Minera Don Nicolas Exploration Program

- Midland Exploration Inc., in partnership with SOQUEM Inc., announced the discovery of a new mineralized zone containing **copper, gold, and rare earth elements (REE)** in the Labrador Trough.  **[1854640_9e1c6614efe245f7b51162e3edfe894d_0]** 
- Grab samples from the Malaco Mountain project yielded high-grade mineralization, with one sample grading **31.60% Cu, 6.92 g/t Au, and 0.16% REE**, and other samples showing significant copper, gold, REE, as well as **cobalt (up to 0.20% Co)** and **silver (up to 37.30 g/t Ag)**.  **[1854640_9e1c6614efe245f7b51162e3edfe894d_0]** **[1854640_9e1c6614efe245f7b51162e3edfe894d_1]** 
- This discovery led to the acquisition of **36 exclusive exploration rights (EER)** covering an area of **17.4 km2** in the newly designated Malaco Mountain area.  **[1854640_9e1c6614efe245f7b51162e3edfe894d_0]** **[1854640_9e1c6614efe245f7b51162e3edfe894d_1]** 
- A follow-up exploration campaign was conducted in September 2025, with the results currently pending.  **[1854640_9e1c6614efe245f7b51162e3edfe894d_0]** **[1854640_9e1c6614efe245f7b51162e3edfe894d_1]**

Midland and SOQUEM Announce Discovery of New Mineralized Zone

- Liberty Gold Corp. closed a private placement with Centerra Gold Inc., resulting in Centerra acquiring **9.9%** of Liberty Gold's common shares.  **[1854640_1180681166ad4d0285d6aeb7595e568b_0]** 
- Centerra acquired **50,025,230** common shares at a price of **C$0.56** per share, generating approximately **C$28.01 million** in gross proceeds for Liberty Gold.  **[1854640_1180681166ad4d0285d6aeb7595e568b_0]** 
- The net proceeds will be used to advance technical studies at Liberty Gold’s **Black Pine oxide gold project** in Idaho and for general corporate purposes.  **[1854640_1180681166ad4d0285d6aeb7595e568b_0]** 
- Centerra has been granted customary investor rights, including financing participation, information rights, technical committee representation, and the right to nominate one director to Liberty Gold's board of directors.  **[1854640_1180681166ad4d0285d6aeb7595e568b_0]**

Liberty Gold Completes Strategic Investment from Centerra Gold

- **Azimut Exploration Inc.** has initiated a **maiden 1,500-metre core drilling program** at the **Rosa Zone** on its wholly owned Wabamisk Property in Québec, Canada.  **[1854640_a879614c1774452fbdb340cc835a0faa_0]** 
- The Rosa Zone, discovered this summer, is characterized by a **highly prospective 1.4-kilometre by 200-metre corridor** with **multiple high-grade gold results**, including **15 samples above 5.0 g/t Au** (up to 42.0 g/t Au).  **[1854640_a879614c1774452fbdb340cc835a0faa_0]** 
- This drilling program aims to test an extensive induced polarization (IP) chargeability anomaly that correlates with a surface high-grade gold trend.  **[1854640_a879614c1774452fbdb340cc835a0faa_0]** 
- **Centerra Gold Inc.** is a strategic investor in Azimut, holding approximately **9.9%** of the company's issued and outstanding shares.  **[1854640_a879614c1774452fbdb340cc835a0faa_4]**

Azimut Exploration Initiates Drilling Program at Rosa Zone

- Centerra Gold's pre-feasibility study for the Mount Milligan mine confirms a **mine life extension of approximately 10 years, to 2045**.  **[1854640_8648a4f16f7b4ccda6cf93090b3f1784_0]** **[1854640_8648a4f16f7b4ccda6cf93090b3f1784_1]** 
- The study indicates a potential **10% increase in process plant throughput by 2029** and average annual production from 2026 to 2042 of approximately **150,000 ounces of gold and 69 million pounds of copper**.  **[1854640_8648a4f16f7b4ccda6cf93090b3f1784_0]** **[1854640_8648a4f16f7b4ccda6cf93090b3f1784_1]** 
- Proven and probable mineral reserves have significantly increased, with **gold reserves up 56% to 4.4 million ounces** and **copper reserves up 52% to 1.7 billion pounds** compared to the end of 2024.  **[1854640_8648a4f16f7b4ccda6cf93090b3f1784_1]** 
- Centerra submitted permit amendments in March 2025 to extend operations through 2035, with a decision expected in the first half of 2026.  **[1854640_8648a4f16f7b4ccda6cf93090b3f1784_1]**

Centerra Gold Announces Mount Milligan Mine Life Extension and Increased Reserves

- Centerra Gold's pre-feasibility study (PFS) for the Mount Milligan mine confirms a **life of mine extension of approximately 10 years**, extending operations to **2045**, supported by a **56% rise in gold reserves** and a **52% rise in copper reserves**.  **[1854640_e92214a33a0e4ef2b61e713482205412]** 
- The mine is projected to achieve average annual production of **150,000 ounces of gold** and **69 million pounds of copper** from **2026 to 2042**.  **[1854640_e92214a33a0e4ef2b61e713482205412]** 
- The extension requires **$186 million in disciplined capital expenditures**, primarily for a second tailings facility, mill motor upgrades, and new haul trucks, with an estimated after-tax net present value (NPV) of **$1.5 billion** at a 5% discount rate.  **[1854640_e92214a33a0e4ef2b61e713482205412]** 
- The project is supported by a **Cost Support Agreement with Royal Gold** and has been designated a **provincial priority project** by British Columbia, with permit amendment decisions expected in the **first half of 2026**.  **[1854640_e92214a33a0e4ef2b61e713482205412]**

Centerra Gold Extends Mount Milligan Mine Life to 2045

- Centerra Gold Inc. has announced the results of a Pre-Feasibility Study (PFS) for its Mount Milligan mine, confirming a life of mine (LOM) extension of approximately **10 years**, to **2045**.  **[1854640_0001171843-25-005866_exh_991.htm:0]** **[1854640_0001171843-25-005866_exh_991.htm:1]** 
- The extension is supported by planned non-sustaining capital expenditures totaling **$186 million**, with key investments including **$114 million** for a second tailings storage facility (TSF), **$36 million** for process plant upgrades, and **$28 million** for five new haul trucks.  **[1854640_0001171843-25-005866_exh_991.htm:0]** **[1854640_0001171843-25-005866_exh_991.htm:1]** **[1854640_0001171843-25-005866_exh_991.htm:5]**  Most of this capital is not required until the early-to-mid-2030s and is expected to be fully funded from available liquidity.  **[1854640_0001171843-25-005866_exh_991.htm:0]** **[1854640_0001171843-25-005866_exh_991.htm:1]** 
- Average annual production from **2026 to 2042** is expected to be approximately **150,000 ounces of gold** and **69 million pounds of copper**.  **[1854640_0001171843-25-005866_exh_991.htm:1]** **[1854640_0001171843-25-005866_exh_991.htm:2]** 
- The PFS reaffirms strong economics for Mount Milligan, with an after-tax NPV (5%) of approximately **$1.5 billion** based on long-term price assumptions, increasing to approximately **$2.1 billion** at spot commodity prices.  **[1854640_0001171843-25-005866_exh_991.htm:1]** **[1854640_0001171843-25-005866_exh_991.htm:2]** 
- An updated proven and probable mineral reserve was included in the PFS, showing a **56%** increase in gold reserves (to **4.4 million ounces**) and a **52%** increase in copper reserves (to **1.7 billion pounds**) compared to the end of **2024**.  **[1854640_0001171843-25-005866_exh_991.htm:1]** **[1854640_0001171843-25-005866_exh_991.htm:6]**

Centerra Gold Announces Mount Milligan Mine Life Extension and Capital Plan

- Azimut Exploration Inc. (TSXV: AZM, OTCQX: AZMTF) has discovered the **Rosa Zone**, a **significant high-grade gold-bearing zone**, on its **wholly owned Wabamisk Property** in the James Bay region of Québec, Canada.  **[1854640_3225910ac82248ffbfd965253800a428_0]** 
- The Rosa Zone is characterized by **multiple high-grade gold results**, including **29 grab and channel samples above 1.0 g/t Au**, with **14 samples exceeding 5.0 g/t Au (up to 42.0 g/t Au)**, and **impressive occurrences of visible gold**.  **[1854640_3225910ac82248ffbfd965253800a428_0]** 
- The zone is outlined over a **700-metre east-west strike** with consistent high-grade gold results over 300 metres, and **drilling is planned for this fall**.  **[1854640_3225910ac82248ffbfd965253800a428_0]** 
- In addition to the Rosa Zone, Azimut is conducting extensive exploration programs on the Wabamisk Property for the **Fortin Zone** (antimony-gold) and on the adjacent **Wabamisk East Property** (lithium), which has been optioned to Rio Tinto Exploration Canada.  **[1854640_3225910ac82248ffbfd965253800a428_0]** **[1854640_3225910ac82248ffbfd965253800a428_1]** 
- **Agnico Eagle Mines Limited** and **Centerra Gold Inc.** are strategic investors in Azimut, holding approximately **11%** and **9.9%** respectively of the Company's issued and outstanding shares.  **[1854640_3225910ac82248ffbfd965253800a428_3]**

Centerra Gold (CGAU)