Deccan Gold has announced a positive update on the progress of the Altyn Tor Gold Project in Kyrgyzstan through its subsidiary, Avelum Partners LLC. This update marks an important milestone in the project’s advancement and highlights the continued commitment of Deccan Gold to its long-term development goals in the gold mining sector.

Promising Drilling Results

During the course of 2024, Avelum has conducted extensive drilling activities at the Altyn Tor Gold Project, with a total of 11 diamond drill holes completed. These efforts were focused on both infill drilling to improve confidence in the existing mineral resources and exploration drilling to test the potential extensions of the orebody. The drill results have provided valuable insights into the project's potential, and the samples from all 11 holes have been analyzed. The highlights from the drilling results are summarized in Table 1, showcasing intersections with notable gold content.

Some of the standout intersections from the 2024 drilling program include:

• VN-02: 9 meters at 2.6g/t Au from 89m.
• VN-07: 15.8 meters at 5.12g/t Au from 162.2m.
• VN-06: 9 meters at 4.88g/t Au from 162m. These results have shown promising signs of potentially increasing the resource base of the project and extending the operational lifespan of the mine.

Project Resource Growth

With the positive drilling outcomes, Deccan Gold anticipates an increase of up to 30,000 ounces in its JORC Mineral Resources, potentially contributing to an expanded mining operation. This could result in a larger pit design or even the possibility of future underground mining to support further production. Additionally, the company holds 1.6 million tons of aboveground low-grade ore and tailings with an average grade of 1g/t gold, contributing to a significant gold resource that will help ensure high EBITDA once production begins.

Construction and Permitting Updates

Although construction activities have been paused due to the harsh winter weather conditions in the region, which are typical for this time of year, Deccan Gold remains confident in the long-term progress of the project. Minor civil works are continuing, and the company has expressed confidence that full-scale construction will proceed smoothly once favorable weather conditions return.

Additionally, the company is proactively working with local authorities and project partners in Kyrgyzstan to expedite the permitting and design approval processes. This approach aims to minimize delays and ensure that the project remains on track for its planned development timeline.

Leadership Statement

Dr. Hanuma Prasad Modali, Managing Director of Deccan Gold, shared his excitement regarding the promising future of the Altyn Tor Gold Project. He emphasized the importance of the ongoing collaboration with local officials and the encouraging drilling results that reinforce the company’s confidence in the long-term potential of the project. Dr. Modali also mentioned that shareholders can expect further updates as the project continues to develop.

Conclusion

The Altyn Tor Gold Project has shown significant progress with the 2024 drilling program, and Deccan Gold remains optimistic about the future. With the potential for an increased gold resource and ongoing work on permitting and construction, the company is well-positioned to deliver value to its shareholders in the coming years.

For further updates on the Altyn Tor Gold Project and developments in the gold mining industry, stay tuned for future announcements from Deccan Gold. The company continues to build confidence in its operations and is optimistic about the project's growth trajectory.

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