The Company is pleased to report production from the Phase 1 heap leach operations recently passed the 100,000 oz milestone.

This equates to gross revenue of $188M and royalties and taxes paid to the Mongolian treasury of approximately $13M in the project to date.

US$150M financing for Phase 2 Expansion of the ATO Gold Mine is fully secured and estimated to commission a new flotation plant by the end of 2025.

Phase 2 Expansion will triple current production to over 100koz per annum for 12 years.

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