Project Progress Update

Deccan Gold provided shareholders with a progress update on its flagship gold project in Kyrgyzstan. The plant construction at the Altyn Tor site is progressing with over 250 personnel (expatriate and local) currently mobilized on site.

Completed Components:

  • Ball mill and gravity section are complete and operational, with fine-tuning in progress
  • Both thickeners have been completed as per the planned schedule for the month
  • Construction of the Merrill Crowe and elution sections is complete

Upcoming Commissioning:

  • Commissioning of the gravity section, intensive leach of concentrate, and Merrill Crowe is planned during June 2026
  • Construction continues with the leach section and electrical buildings

Timeline Expectations:

  • June and July 2026 are expected to be peak construction months
  • Management is confident of achieving near-completion by mid-August 2026, subject to support from favorable weather conditions

Management Commentary

Dr. Hanuma Prasad Modali, Managing Director of Deccan Gold, stated: \"The progress at Altyn Tor marks another important step in Deccan Gold's transition toward a production-oriented mining company. With key plant components completed and commissioning advancing on schedule, we are moving steadily toward commercial production. Altyn Tor reflects our strategy of building a diversified portfolio of high-quality gold and critical mineral assets across geographies. At a time when resource security and supply diversification are becoming increasingly important, such assets are well positioned to create long-term value for shareholders. Our focus remains on safe execution, operational excellence, and delivering the project on schedule.\"

Project Background

Investment Significance: Deccan Gold's investment into Avelum Partners (developer and operator of the Altyn Tor Gold Project) marks the first investment by an Indian mining and exploration company in Kyrgyzstan and is expected to enhance economic ties between the two countries.

Geological Context: The Altyn Tor deposit is located in the highly mineralized Soltan Sary gold mineralization zone, which extends over 300 km in length and is part of the major Tien Shen Shear Zone. Gold mineralization is hosted in quartz, quartz-carbonate veins and stockworks.

Company Profile

Deccan Gold Mines Ltd remains the first and only gold and critical mineral resource company listed on the Bombay Stock Exchange Limited (BSE). Established in 2003, the company holds a strategic portfolio of gold and critical mineral assets across India and internationally, including projects in Andhra Pradesh, Karnataka, Mozambique, Kyrgyzstan, Spain, and Finland.

Company Vision: To be India's leading gold and critical minerals producer, transforming natural resources into shared prosperity through ethical, responsible mining practices with genuine respect for the land and its people.