Vancouver, British Columbia – March 28, 2025 - Majestic Gold Corp. (“Majestic” or the “Company”) (TSX.V:
MJS, FSE: A0BK1D) announces its financial and operational results for the year ended December 31, 2024. The
following financial results are expressed in US dollars unless otherwise stated.
FULL YEAR HIGHLIGHTS
• Gold production was 31,949 ounces for FY2024, a 3.6% increase over the 30,837 ounces produced for FY2023.
FY2024 and FY2023 gold production have been impacted by the ongoing expansion work at the SJG open pit,
resulting in lower gold grades and mining volume for the two years. The Company expects the Phase 2
expansion work to be completed by end of Q2 FY2025;
• Revenue was $71 million for FY2024, compared to $55 million for FY2023. The increase in revenue can be
primarily attributed to the 23.3% increase in average realized gold sales price in FY2024;
• Gross profit from mining operations increased by 36.8% to $36.4 million in FY2024, from $26.6 million for
FY2023;
• Net income was a $20.5 million for FY2024, an increase of 68.0% from $12.2 million for FY2023;
• Cash flow from operating activities increased by 16.5% to $28.5 million in FY2024, from $24.5 million for
FY2023;
• Strong financial position at December 31, 2024. The Company had cash of $100.7 million (FY2023 cash and
cash equivalents - $98 million) and working capital of $86.3 million (FY2023 - $76.5 million);
• Dividend of CAD$0.007 per share was paid on October 11, 2024, to the shareholders for a total amount of
CAD$7.3 million, representing a yield of approximately 10.76% at the time declared;
• Total cash costs and all-in sustaining costs (“AISC”) for FY2024 were $856 per ounce and $1,061 per ounce,
compared to $793 per ounce and $947 per ounce for FY2023. For AISC computation details, refer to pages 17-
19 of the MD&A for this Non-IFRS financial measure;
• Adjusted EBITDA for FY2024 was $38.3 million, compared to $25.4 million for FY2023. For EBITDA
computation details, refer to pages 17-19 of the MD&A for this Non-IFRS financial measure; and
• The Company, through its subsidiary, Persistence Resources Group Ltd, acquired a 52% equity holding in
Yantai City Mujin Mining Company Limited and the Muping Gold Project for total consideration of
RMB81.9M (approximately CAD$15.8M) through its Share Purchase and Capital Increase Agreement.
FOURTH QUARTER HIGHLIGHTS
• Gold production increased by 3.2% to 7,782 ounces, from 7,543 ounces produced for the FY2023 comparative
quarter;
• Revenue was $19 million, an increase of 33.4% from $14.2 million for the FY2023 comparative quarter;
• Gross profit from mining operations increased by 19.5% to $8.8 million, from $7.4 million for the FY2023
comparative quarter;

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https://majesticgold.com/site/assets/files/4542/20250328_nr_fy2024.pdf