Allied Gold Energizes Power Line, Feeds First Ore to the Crushing Circuit as the Kurmuk Mine Progresses Toward Completion of Commissioning and Transitions to Operations

Ethiopia's Allied Gold Corporation has connected its Kurmuk Mine to the national electrical grid and initiated ore processing through its crushing circuit. A 88-kilometer power line was commissioned to deliver electricity at a fixed rate of about $0.04 per kilowatt-hour via a 20-year power purchase agreement with Ethiopian Electric Power.

The mine's first ore was successfully fed into the crushing circuit earlier this month, allowing the team to transfer the operation to the mining team. The mine currently holds roughly one million tonnes of ore, with plans to expand stockpiles to nearly 1.5 million tonnes, which could last for three months of ore feed before the full circuit commissioning.

Allied Gold anticipates introducing ore to the grinding circuit in the coming weeks, with initial gold production expected shortly after. The mine will initially draw ore from the Dish Mountain and Ashashire open pits, located in Ethiopia's Benishangul-Gumuz region. The mine holds 2.7 million ounces of proven and probable mineral reserves, with expected production of 240,000 to 270,000 ounces in its first full year, and approximately 300,000 ounces in the following year.

Allied Gold operates three producing assets and development projects in Côte d'Ivoire, Mali, and Ethiopia.