• Resolute to sell all of its 31,450,000 common shares in Loncor Gold Inc. to Chengtun Mining Group
• Sale proceeds will strengthen Resolute's balance sheet and support strategic growth initiatives in Africa
• Transaction expected to close in Q1 2026, subject to regulatory approvals

Resolute Mining Limited (ASX/LSE: RSG) has announced an update on its shareholding in Loncor Gold Inc. (TSX: LN). Resolute, through a Canadian subsidiary, holds 31,450,000 common shares in Loncor, valued at approximately US$31 million (C$43.4 million) at the current exchange rate. Pursuant to an agreement between Loncor and Chengtun Mining Group Co. (SSE: 600711), through its wholly-owned subsidiary Chengtun Gold Ontario Inc., Chengtun Mining will acquire all of Loncor's outstanding common shares in an all-cash transaction at a price of C$1.38 per share. Subject to obtaining the necessary regulatory approvals, the transaction is expected to close not later than Q1 2026. Resolute has entered into a voting support agreement to vote its Loncor shares in favor of the transaction. The sale proceeds will further strengthen Resolute's balance sheet and help advance the company's strategic growth initiatives across its African-focused gold portfolio, with key priorities including the development of the Doropo Project in Côte d'Ivoire and the extension of the Mako Mine in Senegal.

The sale proceeds will further reinforce Resolute's balance sheet and help advance the Company's strategic growth initiatives across its African-focused gold portfolio, with key priorities including the development of the Doropo Project in Côte d'Ivoire and the extension of the Mako Mine in Senegal.