Allied Gold Corporation (TSX: AAUC, NYSE: AAUC) announced that its Kurmuk Mine in western Ethiopia has completed commissioning and begun operations, with first gold expected shortly after first ore reaches the grinding circuit. Alongside the operational milestone, the company released exploration results highlighting resource growth potential at the Ashashire and Dish Mountain pits, as well as multiple high-grade discoveries along the 9 km Tsenge Trend. The update signals Allied Gold's shift in focus toward extending mine life beyond its current planned minimum and sustaining annual production of approximately 300,000 ounces.

Key Points

  • Allied Gold Corporation (TSX: AAUC, NYSE: AAUC) — Canadian-based gold producer operating in Côte d'Ivoire, Mali, and Ethiopia
  • Kurmuk Mine has completed commissioning and begun operations, with first gold imminent
  • Ashashire hole ASDD227 returned 13.86 m at 10.07 g/t Au; Tsenge Trend Mineral Resource estimate for Kiftet and Hiccup Hill expected by first half of 2027
  • Investors may be watching progress toward the company's stated objective of growing Mineral Resources to more than 5 Moz and extending mine life beyond 15 years

Kurmuk Mine Reaches Operations Milestone as First Gold Approaches

Allied Gold confirmed that the Kurmuk Mine has completed commissioning, with first ore delivered to the grinding circuit and first gold production expected shortly thereafter. The mine is planned as a conventional open-pit and agitated leaching operation with a life-of-mine production target of at least 240,000 gold ounces per year, averaging approximately 300,000 ounces per year in the initial four years. The Kurmuk project is situated within a 30 km by 50 km gold camp in western Ethiopia and represents a key growth asset for the company as it pursues mid-tier producer status.

Exceptional Ashashire Intercepts Support Underground Resource Potential

Drilling at the Ashashire open pit delivered standout results, with hole ASDD227 returning three intercepts from the central core: 13.86 m at 10.07 g/t Au, 13.77 m at 9.15 g/t Au, and 9.22 m at 8.48 g/t Au. Higher-grade mineralisation has been traced approximately 750 m along strike below the current pit extents, and the deposit remains open down-dip below 425 m. Allied stated that grades and widths returned support the potential to define both open-pit expansions and an underground Mineral Resource. The existing Proven and Probable Mineral Reserves stand at 2.7 million ounces across Ashashire and Dish Mountain combined.

Tsenge Trend Emerges as Multi-Zone, High-Grade Growth Corridor

The 9 km Tsenge Trend is emerging as a significant exploration opportunity, with high-grade intercepts recorded at Hiccup Hill, Kiftet, Setota, and Bumblebee. Notable results include 80.09 m at 1.53 g/t Au at Kiftet and 9.0 m at 4.23 g/t Au at Bumblebee. Resource modelling is progressing at Hiccup Hill, located 7.5 km south of the processing plant, and an initial Mineral Resource estimate for Kiftet and Hiccup Hill is expected by the first half of 2027. Allied views these zones as aligned with its objective of sustaining a long-term production profile of 300,000 ounces per year.

Regional Targets Add Further Exploration Upside Across the Property

Regional exploration at Urchin returned 3.0 m at 18.52 g/t Au from a shallow drill program of 10 holes, demonstrating high-grade mineralisation potential near existing infrastructure. Field reviews are planned for the fourth quarter of 2026 at Agu and Ahushu, two untested targets with strong surface mineralisation. Since October 2025, Allied has completed 149 holes totalling 28,003 m of drilling across the Kurmuk property. All scientific and technical content in the release was reviewed and approved by Don Dudek, P.Geo., Chief Exploration Officer, as Qualified Person under National Instrument 43-101.