TIDMALTN

AltynGold Plc

("AltynGold" or the "Company")

First quarter 2022 production update

AltynGold is pleased to announce its 1Q22 production update.

Highlights:

   -- Revenues soared 42.9% yoy, the average gold price has increased from the 
      prior period but a significant factor in the increase was the rise in 
      output and grades achieved in the period. 
 
   -- Despite severe weather conditions, the company was able to increase 
      mining production by 2% yoy from 131.7kt to 134.5kt. 
 
   -- Higher milled ore up 14% yoy and improved grades at 2.03g/t in 1Q22 
      versus 1.78g/t in 1Q21 resulted in 26% yoy increase in poured gold. The 
      Company expects further grade improvement in the upcoming quarters 
      following the purchase of new equipment. 
 
   -- During 1Q22 the Company was not impacted by any COVID-19 related issues. 
      While Kazakhstan authorities lifted restrictions, the management of the 
      Company continues to closely monitor the situation. 
 
                               1Q20    1Q21     1Q22 
Ore mined            tons      92,324  131,733  134,461 
Contained gold       ounces    4,376   7,462    8,841 
Ore milled           tons      92,909  132,834  151,431 
Average gold grade   gr/tone   1.49    1.78     2.03 
Gold poured          ounces    3,380   6,272    8,129 
Revenue              USD m     4.58    10.06    14.38

An update in relation to the annual results and details of the 2022 Annual General Meeting will be released shortly.

Further Information:

For further information please contact:

AltynGold Plc

Rajinder Basra

+44 (0) 203 432 3198

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

Information on the Company

AltynGold Plc (LSE:ALTN) is an exploration and development company, which is listed on the main market segment of the London Stock Exchange.

To read more about AltynGold Plc please visit our website www.altyngold.uk

View source version on businesswire.com: https://www.businesswire.com/news/home/20220515005033/en/

 
    CONTACT:

AltynGold Plc

 
    SOURCE: AltynGold Plc 
Copyright Business Wire 2022

(END) Dow Jones Newswires

May 16, 2022 02:00 ET (06:00 GMT)

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