Drilling/Production Report

LONDON, February 26, 2024--(BUSINESS WIRE)--

AltynGold Plc

("AltynGold" or the "Company")

Fourth quarter 2023 production update

AltynGold is pleased to announce its 4Q2023 production update.

Full-year 2023 volume of mined ore increased 33% with annualised 4Q23 production running at 737kt/y.

Gold grade steadily recovered during the year, increasing from 1.90g/t in 1Q23 to 2.32g/t in 4Q2023. Full-year average grade was 2.08g/t.

As mentioned in prior updates, volume of processed ore was affected by the ongoing plant expansion. Full-year volume of milled ore increased 1.1% while poured gold declined 2.7%. The processing plant upgrade is now expected to be completed in 3Q24.

Full-year total revenue increased 2.7% to $63.7m on higher average gold price in 2023.

Details of the key production figures for the quarter and the full year are shown below:

		4Q2023	4Q2022	Year 31/12/2023	Year 31/12/2022
Ore mined	tons	184,162	118,629	701,465	527,231
Ore milled	tons	150,293	125,321	591,975	585,480
Contained gold	ounces	16,851	9,340	45,270	36,835
Gold poured	ounces	9,632	8,259	33,110	34,023
Average gold grade	g/ton	2.32	2.49	2.08	2.17
Revenues	US$m	18.0	14.5	63.7	62.0

Further Information:

For further information please contact:

AltynGold Plc
Rajinder Basra
+44 (0) 203 432 3198

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

Information on the Company

AltynGold Plc (LSE:ALTN) is an exploration and development company, which is listed on the Main Market segment of the London Stock Exchange.

To read more about AltynGold Plc please visit our website www.altyngold.uk

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Contacts

AltynGold Plc