ESAUF ) Releases Updated Preliminary Economic Assessment (PEA)

Study Demonstrates Robust Economics and Clear Path to Production at
Montauban

After-tax NPV 5% of C$24.27M and IRR of 60.3%; pre-tax NPV 5% of
C$44.53M and 105.1% IRR underscore robust economics with payback
in less than two years from permitted, near-term production

Vancouver, BC –(Investorideas.com Newswire) Breaking Gold Stock
News – ESGold Corp. (“ESGold” or
the “Company”) (CSE: ESAU
) (
OTCQB: ESAUF
) ( FSE: Z7D) announced today the results of its
updated Preliminary Economic Assessment (“PEA”) for the
Montauban Gold-Silver Project in Quebec1, underscoring the
Company’s position as a pre-production gold miner with near-term
cash-flow and discovery upside.

The updated study highlights a significant increase in project
economics, including a
60.3% after-tax internal rate of return (IRR) and a
net present value (NPV) of C$24.27 million, based on metals pricing
assumptions of US$2,900/oz gold and US$31.72/oz silver. These inputs
remain below current spot prices, providing upside leverage in
today’s market.

The updated PEA confirms Montauban’s transformation into a
production asset with low capex, high-margin tailings reprocessing,
and the infrastructure in place to achieve first production in the
near-term.

Importantly, ESGold benefits from more than C$20 million in tax-loss
carry forwards, which are expected to substantially offset taxable
income during the first three years of production, enhancing
early-stage free cash flow.

Updated PEA Highlights (All amounts CAD unless otherwise
stated)

• 
  After-Tax NPV (5%): C$24.27 million




• After-Tax IRR: 60.3%




• Payback Period: Less than two years




• Pre-Tax NPV (5%): C$44.53 million




• Pre-Tax IRR: 105.1%




• Total LOM Revenue: C$103.73 million




• 
  CapEx: C$18.81 million (incl. contingency, owner & EPCM); Initial direct CapEx: C$17.44 million




• LOM Operating Cost: C$32.57 million




• Mine Life: 4 years




• Gold Recovery: 92% | Silver Recovery: 77%




• Gold Price Assumption: US$2,900/oz




• Silver Price Assumption: US$31.72/oz




• Exchange Rate: 1.45 CAD/USD

The PEA base case includes mica at US$300/t and related tonnage
assumptions; implied mica revenue is derived within the model. 

Download the Updated PEA Report
https://esgold.com/wp-content/uploads/2025/09/ESGold_2025-09-03_Montauban_2025_PEA_Report.pdf.

The updated Preliminary Economic Assessment (PEA), prepared in
accordance with National Instrument 43-101 – Standards of
Disclosure for Mineral Projects, replaces the Company’s previous
2023 PEA, which reported a base-case after-tax NPV (5%) of C$6.99
million and an IRR of 23.4%, as disclosed in the technical report
dated March 1, 2023, available on SEDAR+.

“This PEA is a milestone for ESGold and a validation of our
strategy,” said Gordon Robb, CEO of ESGold. “A 60%
after-tax IRR, sub-two-year payback, and low initial capex are the
hallmarks of a project built to generate cash flow quickly while
limiting dilution and execution risk. Just as important, our fully
permitted status and construction progress reduce the timeline from
paper to pour. With commissioning preparations underway and a robust
exploration pipeline, anchored by an upcoming 3D model and recent
deep imaging to ~1,200 metres, we see a clear runway to first
production by year-end and meaningful growth beyond it. We’re
excited, aligned, and focused on delivering.”

Exploration Potential

ESGold is advancing a district-scale view of Montauban. A consolidated
3D geological model, integrating 2015 VTEM, historical work, and new
ANT deep-imaging—is nearing completion. Thepreviously conducted ambient noise tomography (ANT)
survey
has traced key structures to ~1,200 m depth, materially deeper than
earlier scope, indicating potential for mineralized zones below and
beyond historically worked areas.

VMS systems commonly occur in clusters, the emerging structural
framework supports the potential for additional lenses outside the
current footprint. Broken Hill–style characteristics observed at
Montauban, including mineralogy and complex structural overprints,
reinforce the interpretation of a broader, multi-lens system typical
of high-grade VMS districts. This workstream complements
ESGold’s near-term production plan while opening blue-sky growth
across the camp. 

Why this Matters to Shareholders

The updated PEA delivers an independent validation of
Montauban’s economics, reducing project risk by quantifying
capital needs, margins, and payback while confirming a practical path
from construction to operations. Coupled with full permits and
late-stage site work, it strengthens ESGold’s position to secure
funding on more favourable terms.

Qualified Person & Report Authors

The scientific and technical information in this news release has been
reviewed and approved by John Langton, M.Sc., P.Geo., an independent
Qualified Person as defined by National Instrument 43-101 –
Standards of Disclosure for Mineral Projects. The 2025 PEA was
authored by John Langton, M.Sc., P.Geo. with contributions from
Goldminds Geoservices (GMG), Laboratoire LTM Inc., and EnviroMine
Conseils AB Inc.

Note 1: The economic assessment comprising the updated PEA Report
is preliminary in nature and includes inferred mineral resources
that are considered too speculative geologically to have the
economic considerations applied to them that would enable them to be
categorized as mineral reserves, and there is no certainty that the
reported preliminary economic assessment will be realized. The
reported mineral resources are not mineral reserves and do not
demonstrate economic viability.

About ESGold Corp.

ESGold Corp. (CSE: ESAU | OTCQB: ESAUF | FSE: Z7D) is a fully
permitted, pre-production gold and silver mining company at the
forefront of scalable clean mining and exploration innovation. With
proven expertise in Quebec, the Company is advancing its Montauban
Gold-Silver Project toward near-term production while unlocking
long-term value through strategic redevelopment, modern discovery
tools, and sustainable resource recovery. Montauban, located 80 km
west of Quebec City, represents a blueprint for cash-flow-generating
legacy site redevelopment across North America. 

For more information, please contact ESGold Corp. at
+1-888-370-1059 or visit
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.

Stay connected by following us on
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For further information or to connect directly, please reach out to
Gordon Robb, CEO of ESGold Corp. at
gordon@esgold.com or call
250-217-2321.

On behalf of the Board of Directors
ESGold Corp.
Paul Mastantuono
Chairman & COO
info@esgold.com
+1-888-370-1059

Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking
information” within the meaning of applicable Canadian securities
laws, including statements regarding future production, cash flow,
exploration results, project economics, and permitting.
Forward-looking information is based on reasonable assumptions that
management believes are current but involve known and unknown risks
and uncertainties that may cause actual results to differ materially.
These risks are detailed in the Company’s public filings on
SEDAR+. Readers are cautioned not to place undue reliance on such
statements. ESGold disclaims any obligation to update or revise any
forward-looking information, except as required by law.

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

ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) is a featured mining stock
on Investorideas.com

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