ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) Reports Construction Progress at Montauban Project, With New Technical Milestones

• ESGold has completed installation of Humphrey Spirals at its silver and gold Montauban Project in Quebec.
• The company has finalized its Preliminary Economic Assessment (“PEA”), based solely on tailings material, and additional corporate updates and data releases are anticipated in the coming weeks.
• Spiral circuit concentrate testing is now underway, with results expected in the coming weeks, and a comprehensive 3D geological model is being built from seismic and historical data.
• With the high price of gold, the company sees itself as offering the potential of a lower-cost entry into gold exposure with a higher return.

ESGold (CSE: ESAU) (OTCQB: ESAUF), a fully permitted, pre-production gold and silver company, has provided a detailed update on construction progress and technical developments at its flagship Montauban Project in Quebec. The company is entering a critical phase of development that will define the operational and economic viability of this important pre-production gold and silver operation (https://ibn.fm/abPvq).

A significant milestone was the successful installation of the Humphrey Spirals, a key part of the gravity separation system designed to process historical tailings. This equipment, now on-site and operational, supports throughput of up to 1,000 tonnes per day, establishing the baseline for future output capacity.

The company has initiated concentrate testing on tailings material. Samples have been sent for lab analysis to validate the metallurgical characteristics of the feedstock. The results will inform optimization strategies for recovery rates and reagent efficiency. These findings are expected before the end of June and could influence the projected timeline for ESGold’s first precious metal pours.

ESGold has also confirmed completion of its Preliminary Economic Assessment (“PEA”) for the project. The PEA is focused entirely on the tailings resource leaving out the potential upside from hard rock exploration and future asset revaluation.

In parallel, ESGold is finalizing its ambient noise tomography (“ANT”) survey, which will form part of a broader 3D geological model. This model integrates seismic imaging with historic geophysical data to better define the scale and structure of mineralized zones. Results are expected soon and may provide clarity on deeper or previously unexplored targets.

CEO Paul Mastantuono described the coming weeks as “pivotal,” noting that construction and data milestones are aligning in a way that could validate the company’s broader business model: a scalable, environmentally responsible approach to mine redevelopment. ESGold’s strategy centers on leveraging legacy mine sites with existing infrastructure, low permitting barriers, and shorter timelines to production. “We’re nearing a convergence of data, construction, and strategic milestones that will begin to show just how real and repeatable our model is. The team is energized, execution is on track, and we’re proud to be turning vision into reality at Montauban,” he said.

Investors looking for exposure to the gold market may find ESGold’s equity a superior alternative to bullion or ETFs, particularly at a time when gold prices remain high. Shares of early-stage mining companies like ESGold may provide higher returns if exploration confirms new mineralized zones. A positive outcome from the ongoing ANT survey and subsequent drilling could reposition Montauban as more than just a tailings play. The region, with its history of precious and base metals production, remains underexplored at depth.

Further updates are expected once concentrate test results, the finalized PEA, and the ANT-based geological model are published. These developments will help assess the scalability and repeatability of ESGold’s approach to legacy asset redevelopment. With low capex, short permitting timelines, and strong projected economics, Montauban represents the first of what could become a repeatable blueprint for value-driven, environmentally responsible mine redevelopment at other legacy mining sites in the Americas.

For more information, visit the company’s website at www.ESGold.com.

NOTE TO INVESTORS: The latest news and updates relating to ESAUF are available in the company’s newsroom at https://ibn.fm/ESAUF

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