Vancouver, British Columbia – September 15, 2025 - Majestic Gold Corp. (“Majestic” or the “Company”) (TSX.V: MJS, FSE: A0BK1D) reports that its safety production permit for the Songjiagou Underground Mine of expired on September 11, 2025. Yantai Zhongjia Mining Co., Ltd. (“Yantai Zhongjia”), a subsidiary of the Company, had already submitted relevant documents to the Shandong Provincial Emergency Management Department (“Emergency Department”) in August 2025 to apply for renewal of the safety production permit for the Songjiagou Underground Mine.
In view that the Emergency Department may conduct unannounced safety inspections of the mining area during the application process, Yantai Zhongjia has voluntarily decided to suspend major production activities at the Songjiagou Underground Mine as of September 1, 2025. This is to facilitate a comprehensive hazard investigation by the Emergency Department and to enable Yantai Zhongjia to more effectively follow up on any safety rectification measures proposed, if any, in support of the renewal application for the Songjiagou Underground Mine’s safety production permit.
As at the date of this announcement, Yantai Zhongjia has not yet obtained a new safety production permit for the Songjiagou Underground Mine. Under normal circumstances, the Emergency Department will grant Yantai Zhongjia a new safety production permit for the Songjiagou Underground Mine before the expiry date if the relevant documents have been submitted on time. However, due to additional stringent controls implemented during the year for safety inspections, Yantai Zhongjia management anticipates that Emergency Department will issue Yantai Zhongjia a new safety production permit by the end of October 2025.
Currently, Yantai Zhongjia will utilize ore previously mined in the Songjiagou Underground Mine for processing. Operations at the Songjiagou Open-Pit Mine of Yantai Zhongjia will remain normal and unaffected by the application for a new safety production permit for the Songjiagou Underground Mine. The Company will issue further announcements regarding the progress of the renewal of the safety production permit and the resumption at its Songjiagou Underground Mine.
About Majestic Gold
Majestic Gold Corp., a British Columbia based company, is a low-cost junior gold producer engaged in commercial gold production at the Songjiagou Gold Mine in eastern Shandong Province, China. Additional information on the Company and its projects is available at www.sedarplus.ca and on the Company’s website at www.majesticgold.com.
For further information, please contact:
James Mackie, CFO and Corporate Secretary Telephone: (604) 560-9060
Email: info@majesticgold.com Website: www.majesticgold.com
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