ESGold (CSE: ESAU) (OTCQB: ESAUF), a fully permitted, pre-production resource company on a clear path to near-term gold and silver production, is progressing toward its first pour at the Montauban project in Quebec, targeting production by the third quarter of 2025. The company’s dual strategy, generating near-term cash flow from tailings while advancing district-wide exploration, places it among a select group of juniors transitioning to producer status.
In a recent corporate update, the company detailed several key achievements reported in recent months, along with major upcoming operational milestones (https://ibn.fm/4PtUF). On April 11, 2025, ESGold closed a C$3.4 million private placement to fund the final buildout of its mill circuit. That funding marks a critical step in the move toward commissioning Montauban’s production infrastructure. With the project fully permitted, the company is now selecting contractors for the upcoming construction phase.
Beyond construction, the company is focused on developing a deeper understanding of the broader mineral system beneath Montauban. ESGold recently completed the final phase of an Ambient Noise Tomography (“ANT”) survey, a geophysical imaging method that exceeded its depth targets. Initial results reached depths over 800 meters, double the original 400-meter plan, offering new insight into potential mineralization well below historic workings.
The ANT data will now be integrated with historical and VTEM (airborne electromagnetic) results to create a 3D geological model by the end of April. This model is expected to drive exploration planning across the company’s 13,000-hectare land package.
ESGold also confirmed that rhodonite, a pathfinder mineral commonly associated with high-grade silver-lead-zinc systems like Australia’s Broken Hill deposit, has been identified at Montauban. The comparison to Broken Hill — one of the most significant discoveries of its type — suggests potential for deeper, more complex mineralization than previously recognized.
For investors, the timing of ESGold’s advancement coincides with elevated gold and silver prices. The company is preparing an updated Preliminary Economic Assessment (“PEA”) to reflect current commodity levels. With gold recently hovering near record highs, ESGold’s equity offers a leveraged alternative to buying physical gold.
While bullion remains a traditional hedge, shares in development-stage producers like ESGold can offer exposure to upside not only from metal prices but also from successful project execution and discovery. At present, ESGold offers that dual potential: a near-term production catalyst and an expanding exploration story.
The company also intends to pursue grant funding from Quebec’s well-established mining support programs. With a dedicated grant team to be appointed in the coming weeks, ESGold expects potential funding to align with the start of production. As construction moves forward and the market environment for gold and silver strengthens, ESGold is executing on its vision to become a modern leader in mining, balancing near-term revenue generation with scientific discovery and responsible environmental stewardship.
The company continues to position itself as a company capable of generating revenue and delivering exploration results. For investors looking for exposure to precious metals at a time of rising prices, but without paying current gold premiums, ESGold may provide a timely entry point.
“The last few months have been foundational for ESGold, and we are entering a new phase with strong technical footing, capital in hand, and a clear path forward,” said Brad Kitchen, President of ESGold. “With exploration underway and production imminent, we are building more than a mine— one of Canada’s next precious metals producers.”
For more information, visit the company’s website at www.ESGold.com.
NOTE TO INVESTORS: The latest news and updates relating to ESAUF are available in the company’s newsroom at https://ibn.fm/ESAUF
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