Majestic Gold Corp. Announces 2025 Q3 Results

Vancouver, British Columbia – November 28, 2025 – Majestic Gold Corp. (“Majestic” or the “Company”) (TSX.V: MJS, FSE: A0BK1D) announces its financial and operational results for the nine months ended September 30, 2025. The following financial results are expressed in US dollars unless otherwise stated.

FINANCIAL AND OPERATIONAL HIGHLIGHTS Nine months ended September 30, 2025 • Revenue was $63.7 million, a 22.5% increase over the $52 million in revenue for the FY2024 comparative period;

• Gross profit from operations was $33 million, a 19.9% increase over the $27.6 million in gross profit for the FY2024 comparative period;

• Net income was $15.2 million, a 9.7% decrease over the $16.9 million in net income for the FY2024 comparative period;

• Cash flow from operating activities was $17.6 million, a 8.8% decrease over the $19.3 million for the FY2024 comparative period;

• Gold production was 22,643 ounces, a 6.3% decrease over the 24,170 ounces produced for the FY2024 comparative period;

• Strong financial position at September 30, 2025. The Company had cash and cash equivalents of $104.6 million (FYE2024 – $100.7 million) and working capital of $68 million (FYE2024 – $86.3 million);

• Adjusted EBITDA was $32.7 million, compared to $28.7 million for the same period in FY2024. For EBITDA computation details, refer to pages 19-21 of the MD&A for this Non-IFRS financial measure;

• Total cash costs and all-in sustaining costs (“AISC”) were $1,153 per ounce and $1,474 per ounce, compared to $841 per ounce and $1,007 per ounce for the same period in FY2024. For AISC computation details, refer to pages 19-21 of the MD&A for this Non-IFRS financial measure; and • On October 14, 2025, the Company’s Hong Kong Stock Exchange listed subsidiary, Persistence Resources Group Ltd. (Stock Code: 2489), completed a private placement financing for gross proceeds of HKD$472 million (approximately CAD$85.2 million) by way of issuance of 400 million shares at a issuance price HKD$1.18 per share (approximately CAD$0.213 per Share). Persistence Resources Group Ltd Chad a recent closing share price of HKD$1.31 (~CAD$0.228) for a market capitalization of HKD$3.14B (CAD$546.44M).

SELECTED QUARTERLY AND FULL YEAR FINANCIAL AND OPERATING RESULTS Three months ended September 30, Operating data Gold produced (ozs) Gold realized net of smelting fees (ozs) Gold sold (ozs) Average realized gold price ($/oz sold) Total cash costs ($/oz sold) (1) All-in sustaining costs ($/oz sold) (1) Financial data Gold revenue Gross profit (2) Adjusted EBITDA (1) Net income Net income attributable to shareholders Basic and diluted income per share $ $ Nine months ended September 30, 2025 2024 2025 2024 6,764 6,293 6,112 3,375 1,194 1,660 7,963 7,348 7,333 2,477 952 1,107 22,643 20,633 20,399 3,084 1,153 1,474 24,170 21,935 22,256 2,309 841 1,007 20,924,206 10,962,591 10,626,610 5,163,126 2,687,105 0.00 $ $ 18,348,545 9,507,167 9,812,228 5,773,370 3,049,255 0.00 Balance Sheet Cash and cash equivalents Other current assets Non-current assets Total assets $ $ $ 63,664,250 $ 33,035,363 32,702,142

15,223,792 6,886,384 0.01 September 30, 2025 $ 104,633,881 11,699,104 158,302,624 $ 274,635,609 $ Current liabilities Non-current liabilities Total liabilities $ $ Total equity Total liabilities and equity 184,649,646 $ 274,635,609 $ 48,300,084 41,685,879 89,985,963 $ 51,965,823 27,557,698 28,702,449 16,862,618 8,583,919 0.01 December 31, 2024 100,738,547 5,118,569 82,068,419 187,925,535 $ 19,536,163 8,670,704 28,206,867 $ 159,718,668 187,925,535 (1) See “Additional Financial Measures” in the Company’s MD&A on pages 19-21.

(2) “Gross profit” represents total revenues, net of cost of goods sold.

This release should be read in conjunction with the Company’s audited consolidated financial statements for the years ended December 31, 2024 and associated Management Discussion and Analysis (“MD&A”) which are available on SEDAR www.sedarplus.ca and on the Company’s website www.majesticgold.com.

About Majestic Gold Majestic Gold Corp., a British Columbia based company, is a low-cost junior gold producer engaged in commercial gold production in eastern Shandong Province, China, with mining operations at its Songjiagou Gold Mines, its flagship project, and the Mujin Gold Project. Additional information on the Company and its projects is available at www.sedarplus.ca and on the Company’s website at www.majesticgold.com.

For further information, please contact:

James Mackie, CFO and Corporate Secretary

Telephone: (604) 560-9060

Email: info@majesticgold.com

Website: www.majesticgold.com Cautionary Notes Certain statements contained herein may constitute forward-looking statements and are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws.

Forward-looking statements are statements which relate to future events. Such statements include estimates, forecasts, and statements as to management's expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, objectives, and expectations, including with respect to production, exploration drilling, reserves and resources, exploitation activities and events or future operations. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when, and if, a project is actually developed.

In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans, "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith, and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggestions herein. Except as required by applicable law, Majestic Gold does not intend to update any forward- looking statements to conform these statements to actual results