Deccan Gold Mines Ltd, India's pioneering listed gold and critical mineral resource company, has provided a detailed project update under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding its ongoing Altyn Tor Gold Project in Kyrgyzstan. The company has reaffirmed its commitment to responsible mining, sustainability, and shared prosperity, marking significant progress toward commercial gold production by 2026.

As the only gold and critical minerals producer listed on BSE (Scrip Code: 512068), Deccan Gold is trailblazing India’s position on the global mining map, with a vision to extract and deliver value ethically and sustainably. The latest update demonstrates solid advancement on both construction and mineral resource development fronts.

Pathway to Production – Construction and Civil Progress

According to Dr. Hanuma Prasad Modali, Managing Director of Deccan Gold, construction activities at the Altyn Tor gold mine are progressing rapidly. The company has now completed all foundational work necessary for core processing infrastructure, including:

• Critical foundation works for the Ball Mill

• Base raft completion for leach tanks

• Elution building foundation underway

• First tank slab near completion

Work at the tailing dam has also moved forward with the first stripping layer completed and excavation continuing. Fabrication and painting of all 8 leaching and detoxification tanks are complete. These components will soon be integrated on-site.

The Ball Mill foundations and fabrications are fully ready for installation. The elution and smelting systems, essential for gold recovery, have been fabricated and are scheduled to ship by end of July 2025.

Additionally, buildings to house the entire leach circuit are under construction and will also ship by the end of July 2025. All remaining pumps, compressors, and conveyors have been ordered, and are expected on-site within the next four weeks.

To align with Kyrgyz ecological standards, a sewage treatment plant has been ordered, reflecting the company’s environmental compliance focus. Preparations are also underway to commission the crushing and grinding circuit within the next two months, which marks a critical step toward trial and pilot processing ahead of full-scale operations.

Waste Stripping and Preparatory Mining Operations

Mining activities have also started, with waste stripping now underway. Deccan Gold plans to remove approximately 300,000 tonnes of waste during Q3 and Q4 of 2025 to expose high-grade ore in advance of the 2026 production launch.

This strategic waste removal phase will de-risk the commissioning of the processing plant, enabling uninterrupted ore supply once production begins. This approach ensures a strong ramp-up strategy and efficient operations in the first year of commercial output.

Drilling Programme and Resource Expansion

One of the most exciting aspects of the update is the initiation of a 5000-metre drilling campaign, designed to build on significant discoveries made in 2024. Previously, high-grade gold mineralisation was found to extend westward and beneath the existing pit design.

This new 2025 drilling programme is intended to:

• Expand lateral extents of the open-pit resource

• Investigate higher-grade underground deposits below the pit

• Push total resources beyond 200,000 ounces of gold

• Extend the mine’s life to over 10 years

Figures shared by the company highlight field activity, including:

• Geologists examining drill core samples

• 3D visualisations showing drill targets west of the current pit design

The dual focus on both pit expansion and underground mining potential is aimed at boosting long-term production and value. This could make Altyn Tor one of Central Asia’s more robust gold mining operations, with Deccan Gold maintaining majority control through its 60% stake in Avelum Partner LLC.

Strategic Impact and Shareholder Benefits

Deccan Gold’s strategy is clear: responsibly build out a world-class gold mine in Kyrgyzstan, develop resources to scale, and establish a reliable multi-year production pipeline.

The company’s decision to undertake early-stage waste removal, push forward with civil construction, and simultaneously expand its mineral resource base reflects a multi-pronged development strategy that balances operational readiness with long-term growth.

A 10-year mine life, once proven, would:

• Deliver sustained returns to shareholders

• Strengthen Kyrgyzstan’s state reserves and tax base

• Create jobs and development opportunities for local communities

It aligns with Deccan Gold’s larger vision to not only be a mining company, but a transformative force in critical minerals and gold production, grounded in ethical governance and inclusive prosperity.

Conclusion and Forward Outlook

As of July 2025, Deccan Gold’s Altyn Tor project stands on the cusp of entering its production era. With foundational construction nearing completion, civil infrastructure shipments scheduled for July, and mining activity in full swing, the company is on track for process plant commissioning by the end of the year.

Simultaneously, the newly launched 5000m drilling programme targets significant gold resource additions, with the goal to surpass 200,000 ounces and initiate underground mining potential. The company’s proactive waste removal strategy ensures that it will hit the ground running once full production begins in 2026.

Backed by a clear ESG policy, strong technical execution, and responsible mining practices, Deccan Gold Mines Ltd is emerging as a pioneer in ethical and efficient gold mining in the region.

Shareholders can expect further updates as the drilling campaign progresses and construction milestones are met. With 10-year production potential, a well-planned mine lifecycle, and increasing resource certainty, the Altyn Tor Gold Project is positioned to deliver both operational success and long-term value creation.

Deccan Gold’s transparent disclosures, strategic updates, and robust project planning highlight its commitment to stakeholder trust and position the company for a bright and golden future in the Indian and global mining landscape.

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