RED5 KOTH Record Gold Production

Red 5's King of the Hills gold mine achieved exceptional results in the June 2023 quarter, recording four months of record gold production. With 61,705 ounces produced, a significant increase from the previous quarter, the company's sales reached 58,960 ounces, generating operating cash flows of $50.6 million. Demonstrating strong operational efficiency, Red 5 met its production and cost guidance for the second half of the fiscal year, producing 102,574 ounces at an AISC of $1837/oz. Equally noteworthy was the company's commitment to safety, achieving a remarkable improvement with no recordable injuries during the quarter. In addition to successful operations, Red 5 made strategic board appointments and improved its financial position by reducing net debt to $81.9 million. The positive outcomes pave the way for Red 5's promising future, with a focus on continued safe and profitable growth at the KOTH processing hub.