Contract extension Teren-Sai

LONDON--(BUSINESS WIRE)-- 

AltynGold Plc

("AltynGold" or the "Company")

Teren-Sai subsoil exploration area contract extension

AltynGold is pleased to announce that following the approval of its work program, Teren-sai subsoil exploration contract has been granted an additional two-year term in order to conduct further exploration and testing. The addendum to the main contract will allow the Company to perform exploration works to March 2026.

Since the award of the initial exploration contract in 2016, AltynGold conducted a Competent Persons Report (CPR) in 2019, which estimated 1.48moz total mineral resources in area No 2. Subsequent detailed drilling confirmed prior results and further defined the ore bodies. As part of this process, the original exploration area was narrowed to targeted zones and non-required area returned. Further details of the CPR are available on pages 17-20 of the 2022 Annual Report available from the investors section at www.altyngold.uk.

A work program is being currently executed on area No 2 with the aim of commencing open-pit production as soon as sufficient data has been gathered from further exploration activities.

Further Information:

For further information please contact:

AltynGold Plc
Rajinder Basra
[phone]

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