Tongon

In October 2026, Empress acquired a gold stream on production from the Tongon Gold Mine, located in Côte d'Ivoire and owned and operated by Atlantic Group. Pursuant to the streaming agreement, Empress is entitled to receive 3.58% of payable gold production until 400,000 cumulative ounces have been delivered, stepping down to 2.93% until 600,000 cumulative ounces have been delivered, and thereafter 0.81% of payable gold production for the remainder of the approximately 29 year Stream term. Empress pays 0.5% of the prevailing gold market price for each ounce of refined gold delivered.

In consideration for the Stream, Empress paid US$62 million in upfront cash consideration. Certain contingent and participation payments may also become payable based on future production and Stream economics.

Tongon is an established producing gold mine located in northern Côte d'Ivoire. The mine commenced commercial production in 2010 and has produced more than three million ounces of gold over its operating history. In 2025, Tongon produced approximately 127,000 ounces of gold, generating approximately US$445 million in revenue and US$164 million in EBITDA, based on information provided to Empress by the operator.

Tongon is a conventional open pit mining operation supported by an established processing plant and extensive existing infrastructure, including grid power supplemented by onsite generation, water infrastructure, dedicated haul roads, road access, an operational airstrip and camp facilities.

The broader Tongon property includes multiple satellite deposits and an active exploration and mine planning program focused on reserve replacement and identifying opportunities to extend production. Atlantic continues to advance near mine and regional targets through drilling, pit optimization, mapping, sampling and metallurgical work.

Recent exploration has advanced two near mine targets through drilling and pit optimization for potential inclusion in the mine plan. In addition, seven new targets have been identified and delineated across the Nielle trend and Fonondara, while five existing targets have been upgraded through ongoing exploration. An updated life of mine plan is expected by the end of 2026 incorporating results from this work.

Successful reserve replacement, resource conversion and continued exploration could provide opportunities to extend production and increase the amount of gold ultimately delivered under the Empress Stream.