Allied Gold Completes Power Line and Feeds First Ore to Kurmuk Mine

TORONTO, Sept. 17, 2026 /CourierPR/ -- Allied Gold Corporation has made significant progress at its Kurmuk Mine in Ethiopia, marking a key milestone in the mine's commissioning and transition to operations. The 88-kilometre-long power line connecting the mine to the Ethiopian electrical grid has been successfully energized, providing the necessary power for the completion of commissioning and the ramp-up of operations. This connection is supported by a 20-year power purchase agreement with Ethiopian Electric Power (EEP), ensuring a fixed rate of approximately US$0.04 per kilowatt-hour.

Earlier this month, the first ore was delivered to the crushing circuit, marking another important step in the mine's readiness for full operations. Mining activities are advancing well, with ore stockpiles being established to support the ramp-up to commercial production. As of today, the company has established an ore stockpile of approximately one million tonnes, with plans to increase stockpiled ore levels to nearly 1.5 million tonnes, or three months of ore feed ahead of full circuit commissioning. This ample ore supply will provide a steady ramp-up into commercial production.

The mine, located in the Benishangul-Gumuz region of western Ethiopia, is expected to become a significant contributor to Allied Gold's production and cash flows. The mine currently contains 2.7 million ounces of Proven and Probable Mineral Reserves, primarily from the Dish Mountain and Ashashire open pits. Exploration opportunities across a prospective 1,450 km² land package are expected to increase the mineral inventories and extend the mine life.

Allied Gold Corporation anticipates that the Kurmuk Mine will generate significant growth in gold production and cash flows. The mine is expected to produce between 240,000 to 270,000 ounces in its first full year, with production increasing to approximately 300,000 ounces the following year. The mine is designed to average at least 240,000 ounces of gold production per year for an initial strategic target mine life of 15 years. Over its first four years of operation, the mine is expected to average approximately 290,000 ounces of gold production annually at industry-leading costs.