• ESGold has identified a large-scale geophysical anomaly in the southwest zone of its Montauban Project in Quebec, showing strong conductivity and magnetic signals typical of VMS (volcanogenic massive sulfide) systems.
• A new 3D geological model is being developed, integrating historical and modern geophysical data, and an expanded Ambient Noise Tomography (“ANT”) survey will help define the anomaly’s structure and depth.
• The company continues to advance toward near-term production while evaluating district-scale exploration potential and offers a relatively affordable way for investors to gain gold exposure compared to purchasing bullion at high prices.

ESGold (CSE: ESAU) (OTCQB: ESAUF), a fully permitted, pre-production resource company on a clear path to near-term gold and silver production, has reported the identification of a significant geophysical anomaly in the southwest portion of its Montauban Project in Quebec. According to a company press release, internal analysis of historical VTEM (Versatile Time Domain Electromagnetic) survey data and drill records has highlighted this area as a high-priority exploration target (https://ibn.fm/1esM9).

The zone, which has not yet been tested by drilling, displays a strong combination of electromagnetic conductivity and magnetic response, a dual signal often associated with buried, sulfide-rich VMS (volcanogenic massive sulfide) deposits. These types of systems are typically high in base and precious metals, including copper, zinc, and gold.

ESGold believes this southwest anomaly may be larger and more structurally complex than the historically mined zones to the northeast. It forms part of a reevaluation of the project’s long-term potential, as the company continues to move toward initial production through tailings reprocessing later this year.

Since the original VTEM survey was conducted in 2015, ESGold has increased its landholdings in the region to 255 claims, totaling over 13,000 hectares. The company says this expansion was strategically driven by earlier geophysical data indicating the presence of clustered VMS systems, rather than a single-deposit structure.

To refine its understanding of the anomaly, ESGold is finalizing a 3D geological model of the Montauban property. This model will incorporate multiple datasets:

• The 2015 VTEM and total magnetic intensity (“TMI”) survey
• More than 950 historic drillholes
• Over 18,000 assays for gold, silver, and zinc
• Structural interpretation from geologic and geophysical mapping
• New data from an ongoing Ambient Noise Tomography (“ANT”) survey

The ANT method, which uses passive seismic imaging, was originally designed to reach 400 meters but has now imaged beyond 800 meters—doubling expectations and significantly increasing the potential to outline a deeper mineralized system. The 3D results will guide the future planned expansion of survey coverage.

Looking ahead, the company plans to release the 3D model in May 2025, followed by additional ANT data analysis and an updated Preliminary Economic Assessment (“PEA”). The new PEA will reflect both current metal prices and potential near-surface mineralization not previously factored into the economic model.

In parallel, construction work continues on ESGold’s tailings reprocessing facility, with the goal of commencing production by the end of 2025. The reprocessing operation offers a shorter-term revenue path while the company evaluates broader exploration opportunities.

ESGold’s shares offer a relatively low-cost way to gain exposure to potential upside in the gold market, particularly at a time when gold prices remain high. While buying physical gold or ETFs can be capital intensive, small-cap explorers like ESGold may offer higher return prospects should drilling confirm a new mineralized zone. If the anomaly proves mineralized, it could reframe the Montauban asset from a legacy mine to a multi-zone exploration play in a region historically known for precious and base metals. Further updates are expected following the release of the 3D geological model and interpretation of the expanded ANT survey later this quarter.

“The southwest anomaly represents a technically interesting and previously untested zone at Montauban,” said ESGold President Brad Kitchen. He added that while the near-term focus remains on production, the expanded land position and evolving dataset “are beginning to reveal a much broader opportunity.”

“With a growing dataset, disciplined exploration approach, and a pathway to self-funded discovery, ESGold is well positioned to pursue both production and the longer-term potential of the Montauban system,” he said.

For more information, visit the company’s website at www.ESGold.com.

NOTE TO INVESTORS: The latest news and updates relating to ESAUF are available in the company’s newsroom at https://ibn.fm/ESAUF

NOTE: ESGold Corp. has been invited to present at the Metals Investor Forum, being held in Vancouver on May 9, addressing gold and silver mining in North America.
Visit https://ibn.fm/Cfyhq and https://ibn.fm/JnaOi for information.

In addition, those unable to attend directly can view a live stream (https://ibn.fm/1rmRc).

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