BUNIA, Democratic Republic of Congo, March 22, 2026 — Black & Yellow Minerals SARL ("BYM" or the "Company") today announced record quarterly gold production of 52.0 kilograms (1,672 troy ounces) for the first quarter of 2026, representing a 44% increase over Q4 2025 production of 36.1 kilograms and placing the Company firmly on track to meet its full-year 2026 guidance range of 180–210 kilograms.
The Q1 performance was underpinned by sustained high-grade ore feeds at Concessions P3 and P1, which together contributed 48.3 kilograms during the quarter, and by the commencement of initial ore extraction at Concession P2 in late February, which added 3.7 kilograms in its first four weeks of operation. Average daily production across all sites reached 578 grams, well above the Company's 400-gram base-case target.
"This is an outstanding result that validates our multi-site operating model," stated the Chief Executive Officer. "Our geological team's grade control work has been exceptional, consistently directing excavation to the highest-value zones within each concession. The early contribution from P2 is particularly encouraging — the grade profiles we are seeing there confirm our geological assessments and give us confidence in the full activation timeline."
Processing recoveries averaged 93% during the quarter, a further improvement over the 91% achieved in Q4 2025, reflecting ongoing optimization of gravity separation circuits and the introduction of enhanced shaking table configurations. Equipment utilization rates averaged 91% across the fleet, supported by a preventive maintenance program that reduced unplanned downtime by 35% compared to the prior quarter.
Concession P2 activation is progressing according to plan. Site preparation, including access road construction, water management infrastructure, and equipment staging areas, was completed in January 2026. An XCMG 335 excavator and HOWO dump truck were mobilized from the Phase 3 equipment deployment, with initial ore extraction commencing on February 24, 2026. BYM expects P2 to reach steady-state production of 180 grams per day by the end of Q2 2026.
Forward-Looking Statements: This press release contains forward-looking statements regarding BYM's anticipated future production and expansion plans. Actual results may differ materially due to factors including gold price fluctuations, geological variability, regulatory changes, and operational risks. Investors should not place undue reliance on forward-looking statements. Contact: BYM Investor Relations — ir@bym-minerals.com.