ALTYNGOLD PLC — Earnings Release 2022

May 16, 2022

National Storage Mechanism | Additional information

1st Quarter Results

**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/

AltynGold Plc