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Accelerated waste stripping positions Tocantinzinho for stronger second-half production
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BROSSARD, Quebec, April 21, 2026 (GLOBE NEWSWIRE) — G Mining Ventures Corp. (“GMIN” or the “Corporation”) (TSX: GMIN, OTCQX: GMINF) reports preliminary production results for the quarter ended March 31, 2026 from its 100%-owned Tocantinzinho Gold Mine (“TZ”) in Pará State, Brazil. Results were in line with the Corporation’s expectations.
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Q1 2026 Preliminary Highlights
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- Gold produced: 31,846 oz
- Gold sold: 33,776 oz
- Average plant throughput: 11,811 tpd
- Average grade processed: 1.03 g/t Au
- Gold recovery: 90.3%
- Strip ratio: 4.40x
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“TZ delivered consistent operating performance during the first quarter, with results reflecting the planned sequencing of lower-grade material as mining activities focused on waste stripping and pit advancement,” said Louis-Pierre Gignac, President and Chief Executive Officer. “This work supports access to higher-grade Phase 2 mineralization and positions the operation for a meaningful increase in grade and production in the second half of 2026, in line with our guidance.”
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Operational Results:
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Table 1. Tocantinzinho Preliminary First Quarter 2026 Operational Results
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| Q1 20261 | Q4 2025 | Q1 2025 | ||
| Mining Activities | ||||
| Ore Tonnes Mined | kt | 1,020 | 1,725 | 1,512 |
| Waste Tonnes Mined | kt | 4,492 | 4,230 | 2,195 |
| Total Tonnes Mined | kt | 5,512 | 5,955 | 3,707 |
| Strip Ratio | Waste/Ore | 4.41 | 2.45 | 1.45 |
| Processing Activities | ||||
| Total Tonnes Processed | kt | 1,063 | 1,077 | 904 |
| Average Plant Throughput | tpd | 11,811 | 11,711 | 10,046 |
| Average Gold Recovery | % | 90.3% | 91.8% | 87.7% |
| Average Gold Grade Processed | g/t Au | 1.03 | 1.49 | 1.40 |
| Gold Produced | oz | 31,846 | 47,346 | 35,578 |
| Gold Sold | oz | 33,776 | 47,457 | 35,435 |
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1 Q1 2026 operating results are preliminary and subject to final reconciliation. Comparative Q4 2025 and Q1 2025 operating data are derived from the Corporation’s previously reported results.
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Operational Commentary
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TZ delivered stable operating performance during the first quarter, with throughput and recoveries in line with our operating plan. Slightly lower metallurgical recoveries were expected with a lower head grade. With the plant now operating at steady state, quarterly production variability is primarily driven by mine sequencing and grade profile.
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Gold production reflected the planned processing of lower-grade, which was the primary driver of lower output relative to previous quarters. Stockpile rehandling and blending supported consistent plant feed during the quarter.
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Mining activities focused on accelerated waste stripping and pit advancement to access higher-grade Phase 2 mineralization. As a result, the strip ratio increased to 4.4x and total material movement reached 5.5 Mt. This elevated stripping is taking place in Phase 2 and positions the operation for improved grades and stronger production in the second half of the year, in line with the Corporation’s mine plan.
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On Track to Deliver 2026 Guidance
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The Corporation maintains its 2026 production guidance of 160,000 to 190,000 ounces of gold. Production is expected to be weighted toward the second half of the year, with approximately 62% of annual output forecast for H2 2026 as higher-grade Phase 2 mineralization is accessed in accordance with the mine plan.
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