ESGold (CSE:ESAU) Reaches New Development Milestones at Montauban Gold-Silver Project

Highlights

• Remaining mill equipment was approved for shipment after completing technical inspections in China.
• The mobile water treatment system reached the Montauban Project site ahead of installation activities.
• Falcon Concentrator and thickeners were fully paid for, with deliveries scheduled for August.
• A 70-square-kilometre ANT survey expanded geological targeting across the Montauban property.
• A dore purchase agreement unlocked access to up to C$9 million in non-dilutive working capital.

ESGold Corp. (CSE:ESAU) (OTCQB: ESAUF | FSE: Z7D) has shared a new operational update from its Montauban Gold-Silver Project in Qubec, where equipment procurement continues to advance. Following an overseas inspection programme, the company has cleared the remaining manufactured equipment for shipment while continuing work on site preparation, exploration planning and financing. The latest developments reflect activity across several parts of the project as Montauban progresses through its pre-production phase.

Located in Qubec, Canada, the Montauban Project is a fully permitted tailings reprocessing operation designed to produce gold and silver while supporting long-term district exploration.

Inspection Programme Clears Equipment for Delivery

Members of ESGold's technical team recently returned from China after examining the balance of the processing equipment ordered from manufacturers.

After reviewing the equipment, the company's engineering team confirmed that it satisfies both internal technical requirements and applicable industry standards. As a result, the remaining mill equipment has been released for shipment, with deliveries expected over the next 45 to 60 days.

The overseas inspection formed part of ESGold's procurement oversight process before the equipment begins its journey to Qubec.

Separately, the project's mobile water treatment unit has already reached the Montauban site. Other major processing items, including the Falcon Concentrator and the thickeners, have been purchased in full and are expected to arrive during the second week of August.

Attention Turns to On-Site Activities

With procurement largely completed, ESGold is preparing for the arrival of major equipment at site.

The Company is organising transportation schedules, installation sequencing, contractor coordination and construction logistics so equipment can be integrated as deliveries are received. These activities form part of the next stage of work at the fully permitted Montauban tailings reprocessing operation.

Regional Exploration Work Continues

Development work is progressing alongside exploration planning across the wider Montauban property.

ESGold continues reviewing historical exploration records, assessing recently acquired ground and combining geological and geochemical datasets to refine future drill targets. The Company has also finished an ambient noise tomography (ANT) survey covering roughly 70 square kilometres, a considerable increase from the earlier 10-square-kilometre survey area.

Interpretation of the survey results and updated three-dimensional geological modelling are now in progress. Once exploration approvals are received, the Company plans to begin drilling priority targets identified through this evaluation process.

Funding Arrangement Adds Financial Support

ESGold has also strengthened its financing framework through a definitive gold and silver dore purchase agreement with Ocean Partners UK Ltd.

Under the agreement, Ocean Partners will purchase dore produced from the Montauban Project. The arrangement also gives ESGold the option to access a non-dilutive working capital facility of up to C$9 million, subject to customary operational and production-related conditions.

Forward View

Over the coming months, ESGold expects attention to centre on receiving the remaining processing equipment, completing installation activities and progressing construction at Montauban. At the same time, geological interpretation of the expanded ANT survey and the receipt of exploration permits are expected to guide the next phase of drilling across the broader project area.

Shares of ESAU last traded at CAD 0.45 on July 21, 2026.