Thackeray Mines & Minerals Inc.'s Malartic Project Mine Continues to Increase Its Profitability

Thackeray Mines & Minerals Inc. continues to capitalize on the strength of its Malartic Project, which has far exceeded initial expectations since its opening in June 2011. At the time of development, gold was trading at approximately USD $1,600 per ounce. Now, with prices approaching USD $3,000 per ounce, the company has increased production capacity by over 300% and identified additional deposits that could yield a further 450,000 ounces of gold.

“When we acquired the Malartic site, we recognized its potential but also understood the substantial effort required to fully realize its value. At the outset, profitability over the long term was uncertain. However, our confidence was rooted in three key factors: the cost-effectiveness of our production methods, the untapped potential beyond the existing footprint, and our firm belief in the upward trajectory of gold prices. These assumptions have proven correct.” - Anton Windsor – Chief Operations Director of Thackeray Mines & Minerals Inc.

Within the first 12 months, production surpassed initial forecasts by over 70%, with gold prices rising nearly 30% in the same period. Today, production has doubled initial projections, with further identified reserves extending the project's longevity well beyond its original forecast.

The Malartic Project

The Malartic Project was initially expected to have a mine life of seven to ten years, concluding around 2023. However, sustained exploration success has significantly altered this projection. Thackeray Mines & Minerals Inc. now anticipates an additional 6 to 10 years of production, with further expansion efforts underway. A new satellite pit pre-stripping initiative is also set to commence, potentially extending the site's life by an additional five years, taking production well into 2040 and beyond.

An internal economic assessment conducted in late July projects an average annual production of 183,000 ounces of gold over the next five years. This sustained growth underscores Thackeray Mines & Minerals Inc.'s commitment to maximizing asset value while ensuring responsible and efficient mining operations.