By Nevison Mpofu
Nouakchott, Mauritania — April 14, 2026 — Montage Gold Corp. has secured more than 2,100 square kilometers of highly prospective gold exploration permits in Mauritania, marking a strategic expansion into one of West Africa’s emerging mining frontiers.
The Canadian-listed company said it was awarded five greenfield exploration permits following a competitive tender process, targeting underexplored sections of the country’s northern Birimian greenstone belts — geological formations widely associated with major gold deposits across West Africa.
The permits, spanning approximately 2,103 km², are located across the Western and Eastern Reguibat regions and sit along a critical structural boundary between Mesoarchean and Paleoproterozoic formations. These geological settings, intersected by shear zones and feeder structures, are considered prime targets for orogenic gold systems.
Chief Executive Officer Martino De Ciccio said the acquisition aligns with the company’s long-term ambition of building a multi-asset gold production platform across Africa.
“This marks another step in executing our strategy of creating a premier African gold producer,” he said, noting that the company is simultaneously advancing construction at its flagship Koné project in Côte d’Ivoire, which remains on track for its first gold pour by the end of 2026.
Montage’s expansion comes amid growing investor interest in Africa’s gold sector, where established operations such as Tasiast Mine and Guelb Moghrein Mine have demonstrated the country’s mining potential.
The company will hold a 100% interest in four permits within the Sfariat exploration block, while securing an 80% stake in the Zednes permit through an agreement with SOCIEX, subject to regulatory approvals. Under the deal, Montage will fully fund exploration until a mining license is granted, after which SOCIEX may either co-invest or convert its stake into a royalty.
Exploration Executive Vice President Silvia Bottero described the geological setting as “highly compelling,” noting that the company secured its top-priority targets following extensive analysis of geophysical, geochemical, and mapping data.
“The Sfariat and Zednes blocks exhibit the structural and geological features we typically associate with major gold systems,” she said. “We are already advancing initial fieldwork to define drill targets.”
Montage has allocated up to $2 million for its 2026 Mauritania exploration campaign. Initial work will include geological mapping, geophysical surveys, and roughly 6,000 meters of soil sampling, with drilling programs expected to begin in the fourth quarter, totaling approximately 15,000 meters.
The move builds on the company’s recent exploration momentum in Côte d’Ivoire, including the advancement of the Diéviévi project and the Wendé property, where drilling is underway. The firm is also progressing its planned acquisition of African Gold, which is expected to strengthen its development pipeline.
Montage highlighted its growing network of in-country expertise and partnerships as a competitive advantage. Chief Financial Officer Constant Tia brings more than a decade of experience in Mauritania, including a previous leadership role with Kinross Gold, operator of the Tasiast mine.
Backed by the Lundin Family, known for developing major mining assets globally, Montage said it aims to replicate its exploration success across new jurisdictions.
Mauritania, long recognized for its mineral endowment but still relatively underexplored compared to regional peers, is increasingly attracting international mining companies seeking new discoveries in politically stable environments.
With reconnaissance efforts already underway, Montage’s latest acquisition signals rising confidence in the country’s untapped gold potential — and intensifies the race to uncover the next major West African gold deposit.
