ALLIED GOLD ANNOUNCES CLOSING OF $53 MILLION STREAMING AGREEMENT WITH TRIPLE

TORONTO, Aug. 14, 2024 /PRNewswire/ – Allied Gold Corporation (TSX: AAUC) (“Allied” or the “Company”) is pleased to announce the closing of its previously announced streaming transaction (the “Stream Transaction”) with Triple Flag International Ltd., a wholly-owned subsidiary of Triple Flag Precious Metals Corp. (collectively, “Triple Flag”).

Under the terms of the Stream Transaction, Allied has received a US$53 million upfront cash payment (the “Advance Amount”) and will receive ongoing payments equal to 10% of the spot gold price for a portion of its production. Triple Flag will have the right to purchase 3% of the payable gold related to production at each of the Agbaou and Bonikro mines, subject to a step-down to 2% after set delivery thresholds.

The closing of this transaction crystallizes significant value in Allied’s Côte d’Ivoire Complex (“CDI Complex”) and provides the financial flexibility to advance exploration, growth, and optimization initiatives. The CDI Complex, comprising the Agbaou and Bonikro mines, remains a central element of Allied’s growth strategy.

Allied continues to advance its stream and gold prepay financing for its Kurmuk project and evaluate how to redeploy cash flows otherwise previously allocated to Kurmuk and the CDI Complex toward the advancement of its expansion plans at Sadiola.

About Allied Gold Corporation

Allied Gold is a Canadian-based gold producer with a significant growth profile and mineral endowment which operates a portfolio of three producing assets and development projects located in Côte d’Ivoire, Mali, and Ethiopia. Led by a team of mining executives with operational and development experience and proven success in creating value, Allied Gold is progressing through exploration, construction and operational enhancements to become a mid-tier next generation gold producer in Africa and ultimately a leading senior global gold producer.

Advisors and Counsel

National Bank Financial acted as financial advisor, and Cassels Brock & Blackwell LLP acted as legal advisor to Allied on the Stream Transaction.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS 

This press release contains “forward-looking information” under applicable Canadian securities legislation. Except for statements of historical fact relating to the Company, information contained herein constitutes forward-looking information, including, but not limited to, any information as to the Company’s strategy, objectives, plans or future financial or operating performance. Forward-looking statements are characterized by words such as “plan”, “expect”, “budget”, “target”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words or negative versions thereof, or statements that certain events or conditions “may”, “will”, “should”, “would” or “could” occur. In particular, forward-looking information included in this press release includes, without limitation, statements with respect to information concerning the Stream Transaction, conditions precedent and the closing thereof, expectations to be fully financed, expected production, exploration, development and expansion plans discussed herein being met. Forward-looking information is based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and is inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the Company’s dependence on products produced from its key mining assets; fluctuating price of gold; risks relating to the exploration, development and operation of mineral properties, including but not limited to adverse environmental and climatic conditions, unusual and unexpected geologic conditions and equipment failures; risks relating to operating in emerging markets, particularly Africa, including risk of government expropriation or nationalization of mining operations; health, safety and environmental risks and hazards to which the Company’s operations are subject; the Company’s ability to maintain or increase present level of gold production; the Company’s ability to execute on its expansion and optimization plans; nature and climatic condition risks; counterparty, credit, liquidity and interest rate risks and access to financing; the Company’s success in executing non-dilutive financing alternatives; cost and availability of commodities; increases in costs of…