REG - Resolute Mining Ltd - Update on shareholding in Loncor Gold Inc.

Resolute MiningAnnouncement

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RNS Number : 4340D  Resolute Mining Limited  15 October 2025

15 October 2025

 

Update on shareholding in Loncor Gold Inc.

 

Resolute Mining ("Resolute" or the "Company") (ASX/LSE: RSG) is pleased to
provide an update on its shareholding in Loncor Gold Inc (TSX: LN) ("Loncor")
following its sale agreement with Chengtun Mining Group Co. (SSE: 600711),
through its wholly-owned subsidiary, Chengtun Gold Ontario Inc. ("Chengtun
Mining"), as announced by Loncor on 14 October 2025.

Pursuant to the agreement Chengtun Mining will acquire all the outstanding
common shares of Loncor, in exchange for C$1.38 per Loncor Share in an
all-cash transaction. Subject to certain conditions, including the parties
obtaining the requisite regulatory approvals, the transaction is expected to
close not later than Q1 2026.

Resolute holds, via a Canadian subsidiary, 31,450,000 common shares in Loncor
valued at approximately US$31 million (C$43.4 million) at the current exchange
rate and has entered into a voting support agreement pursuant to which it has
agreed, among other things, to vote those shares in favour of the transaction.

Resolute will file an early warning report with the Canadian securities
regulators with respect to the sale of its Loncor Gold shares and the voting
support agreement pursuant to National Instrument 62-103 - The Early Warning
System and Related Take-Over Bid and Insider Reporting Issues, a copy of which
will be available on SEDAR+ at www.sedarplus.ca
(https://www.globenewswire.com/Tracker?data=Kr39l8BcZERz2qYELEzuvJTlQ_b05oV8ihvuzzAARb3A0THw-HlCk04duKRAQSAMX3AbkXMkFTZJaFLJKJh60g==)
.

Chris Eger, Chief Executive Officer, commented,

"Resolute is pleased to support the Loncor transaction. The sale proceeds will
further reinforce Resolute's balance sheet and help advance the Company's
strategic growth initiatives across our African-focused gold portfolio. Key
priorities include the development of the Doropo Project in Côte d'Ivoire and
the extension of the Mako Mine in Senegal."

 

Authorised by Chris Eger, Managing Director and Chief Executive Officer

 

Contact

 

 Resolute                                               Public Relations

 Matthias O'Toole Howes,                                Jos Simson, Tavistock resolute@tavistock.co.uk

                                                      (mailto:resolute@tavistock.co.uk)
 Corporate Development and Investor Relations Manager

                                                      +44 207 920 3150
 Matthias.otoolehowes@resolutemining.com

 (mailto:Matthias.otoolehowes@resolutemining.com)       +44 778 855 4035

 +44 203 3017 620

                                                        Corporate Brokers

                                                        Jennifer Lee, Berenberg

                                                        +44 20 3753 3040

                                                        Tom Rider, BMO Capital Markets

                                                        +44 20 7236 1010

Resolute Mining Limited ABN 39 097 088 689

Level 17, 2 The Esplanade, Perth, Western Australia 6000

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