ESGold Accelerates Toward Production with Construction Start at Flagship Gold-Silver Project

By: ESGold Corporation via GlobeNewswire

April 17, 2025 at 08:30 AM EDT

VANCOUVER, British Columbia, April 17, 2025 (GLOBE NEWSWIRE) -- via IBN – ESGold Corp. (“ESGold” or the “Company”) (CSE: ESAU | OTCQB: ESAUF | FSE: Z7D) is pleased to announce the commencement of on-site construction and assembly at its Montauban Gold-Silver Project in Quebec, a key milestone that moves the Company into the execution phase of its near-term production strategy.

Following the successful completion of its C$3.45 million financing in April, ESGold has officially initiated the build-out and expansion of its milling and processing facilities. This represents the final major phase of infrastructure development before production begins—transforming Montauban from a legacy mine site into one of Canada’s next active gold and silver operations.

“This is the moment we’ve been working toward—breaking ground and moving decisively toward gold and silver production,” said Brad Kitchen, President of ESGold Corp. “Our team, contractors, and stakeholders are aligned and energized to deliver on our strategy. We are building a clean, scalable, and modern operation that reflects the new era of mining in Quebec. With production targeted for early Q4, Montauban is on track to become a model for sustainable redevelopment of legacy mines.”

Construction Phase Now Underway
As part of this phase, the Company has engaged a prime contractor to lead the mobilization and assembly process at Montauban. Key milestones now underway or scheduled over the coming weeks include:

Mobilization of cranes and heavy equipment to commence structural build-out.
Delivery and installation of mill components, with site preparation already in progress.
Delivery of a 1000-amp, 600V generator, ensuring reliable and scalable on-site power capacity.
Deployment of secure communications and monitoring systems, including STARLINK-enabled site connectivity.
Installation of security perimeter fencing and surveillance infrastructure to support 24/7 oversight and operational integrity.
Extension of the mill building by 1,800 sq. ft.
Site cleanup and staging to accommodate phased installation of the mill circuit.

Overtime work schedules for field crews to expedite construction and adhere to the Company’s early Q4 production timeline.

This initial construction and mobilization stage is expected to last approximately one month, after which the Company will immediately advance into the next phase of mill circuit installation and commissioning.

Near-Term Outlook and Strategic Roadmap
With permits in hand, infrastructure in place, and funding secured, ESGold remains laser-focused on achieving its dual-track strategy: near-term gold and silver production paired with district-scale exploration.

Over the next month, the Company will also:

Complete onsite mineralogy tests to finalize input parameters for processing and optimization.
Finalize and publish its Updated Preliminary Economic Assessment (PEA) to reflect elevated gold and silver prices and near-surface upside.
Release results from the Ambient Noise Tomography (ANT) Survey, which is producing high-resolution imaging of the deposit’s subsurface footprint, targeting a potential larger mineralized system at depth.
Engage provincial and federal bodies to advance grant applications that align with Quebec’s critical mineral strategy and clean mining priorities.

Becoming Canada’s Next Gold-Silver Producer
Montauban operated as a mine for over 80 years. Today, ESGold is breathing new life into the site with the help of clean processing technologies, advanced exploration tools, and a disciplined capital approach that minimizes dilution and prioritizes cash flow generation.

About ESGold Corp.
ESGold Corp. (CSE: ESAU | OTCQB: ESAUF | FSE: Z7D) is a fully permitted, pre-production resource company at the forefront of clean mining and exploration innovation. With proven expertise in Quebec, the Company is advancing its Montauban Gold-Silver Project toward near-term production while delivering long-term value through sustainable resource recovery and strategic exploration. The Montauban Project, located 80 km west of Quebec City, combines production-readiness with untapped district-scale exploration potential.

For more information, please contact ESGold Corp. at +1-888-370-1059 or visit www.esgold.com for additional resources, including a French version of this press release, past news releases, a 3D model of the Montauban processing plant, media interviews, and opinion-editorial pieces.

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On behalf of the Board of Directors,
Brad Kitchen
President & Director
info@esgold.com
+1-888-370-1059

Forward-Looking Statements:
This news release includes forward-looking statements within the meaning of applicable securities laws. These statements are based on assumptions and expectations that involve a number of known and unknown risks and uncertainties. Actual results could differ materially. Forward-looking information includes statements regarding the expected use of proceeds, the development and construction timelines of the Montauban Project, future production, and anticipated project milestones. Investors are cautioned not to place undue reliance on these forward-looking statements. All forward-looking information contained in this release is qualified by these cautionary statements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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