3rd Quarter Results

LONDON--(BUSINESS WIRE)-- 

AltynGold Plc
("AltynGold" or the "Company")
Third quarter 2022 production update

AltynGold is pleased to announce its 3Q22 production update.

Highlights:

Ore mined normalised from the strong level achieved in 2Q22, while ore milled was in line with the average over 1H22 as the Company utilised its stockpiles to supply the processing plant.

Gold production at 8,799oz remained at the strong level achieved in 2Q22, supported by improving grades which increased to 2.11g/t.

Despite supportive operational dynamics, revenues declined quarter on quarter due to a lower average selling price of gold. The expectation for the reminder of the year is that the gold price will fluctuate around the current levels of around US$1,700oz.

		1Q22		2Q22		3Q22
Ore mined	tons	134,461	142,937		131,204
Contained gold	ounces	8,841	9,510		9,144
Ore milled	tons	151,431	155,168		153,560
Average gold grade	gr/tone	2.03	2.09		2.11
Gold poured	ounces	8,129	8,836		8,799
Revenue	USD m	14.38	17.57		14.72

Further Information:

For further information please contact:

[e-mail]

Rajinder Basra

[phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

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