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Nelligan & ML

Ownership	100% IAG	Location	Quebec, Canada
Status	Resource development	Commodity	Gold
Deposit	Open Pit & Underground
Reserves	-	M&I Resources Inf. Resources	3.2 Moz 5.6 Moz

* M&I resources are inclusive of mineral resources

Nelligan is a large-scale open pit gold exploration project fully owned by IAMGOLD. Nelligan has shown strong growth potential with recent drilling confirming significant extensions of gold-bearing zones, particularly in the Renard, Footwall, and Zone 36 areas. A 2025 technical report highlighted a substantial increase in mineral resources, with ongoing efforts to extend the mineralized envelope which is open along strike and at depth. The project is located in a mining-friendly jurisdiction and is considered a cornerstone of IAMGOLD’s future growth pipeline.

Monster Lake, located 15 kilometres north of Nelligan, is a high-grade underground gold project with a focus on the Megane Zone. The project’s high-grade nature and exploration upside make it a valuable complement to Nelligan in IAMGOLD’s Canadian portfolio.

IAMGOLD holds a large land position in the Chibougamau camp totaling over 26,800 hectares, including its interest in the Anik project (75% interest with Kintavar Exploration).

Reserves and Resources

	Tonnes (000s)	Grade (g/t)	Ounces (000s)
Nelligan
Indicated Mineral Resources Inferred Mineral Resources	102,845 166,395	0.95 0.96	396 1,920
Monster Lake
Indicated Mineral Resources Inferred Mineral Resources	239 1,053	10.96 14.43	84 489

Figure - Nelligan 2024 Pit Shell (NE)

Location

The Nelligan Gold Project is located in the Nord-du-Québec region of Québec, Canada, approximately 60 km southwest of Chibougamau and 45 km south of Chapais. Monster Lake is located 15 kilometers north of Nelligan.

Geology & Mineralization

The Nelligan Project is located in the northeastern corner of the Abitibi Sub-province of the Archean Superior Province, approximately 15 km west of the metamorphic border of the Mesoproterozoic aged Grenville Province, named as Grenville Front. The Abitibi Greenstone Belt is located in the southern part of the Superior craton, Canada and is composed of Greenschist- to sub-greenschist-grade rocks.

The Project is hosted within the southern portion of the Chibougamau mining camp, known as Caopatina-Desmaraisville segment, which is bordered to the north by the Archean Opatica sub-province, to the east by the Proterozoïc Grenville front and to the south by a large cover of magmatic rocks known as Hébert pluton. The area is composed of volcanic and sedimentary rocks resulting from two complete volcano-sedimentary cycles.

The Project is located along a major shear corridor on the northern part of the property, stretching for a strike length of four kilometres. The mineralization consists of two principal phases: The first phase is characterized by pervasive sericite-silica-potassic alteration, and is associated with fine-grained, disseminated automorphic pyrite (Pyrite I). The second phase of mineralization is attributed to orogenic hydrothermal fluids, marked by the presence of carbonates (calcite and dolomite) and medium-grained pyrite (Pyrite II), which are expressed in veinlets and stockworks, occasionally becoming semi-massive.

The Nelligan deposit is comprised of five major mineralized zones, subdivided into 13 distinct subzones. The Renard Zone (Renard, Renard_2) is the principal zone of the deposit, extending three kilometres with significant silicification, sericite, and potassic alteration. This zone is offset by cross-cutting shear zones, creating sigmoidal shapes. The Footwall Zone (FW), the northernmost zone, extends over four kilometres and hosts quartz-carbonate veinlets with sub-automorphic pyrite, associated with visible gold in some areas. The Footwall East Zone (FW_E) is the eastern extension of this zone, displaced by a cross-cutting structure.

HISTORY

Nelligan

The Nelligan Project's ownership history dates back to an option agreement between Vanstar and IAMGOLD in 2014. In 2023, IAMGOLD acquired all of Vanstar’s outstanding shares, fully consolidating ownership of the Project.

Exploration at Nelligan dates back to the 1950s, with early prospecting, mapping, and geophysical surveys driven by interest in the nearby Joe Mann deposit. Significant exploration began in the late 1970s, with companies such as Falconbridge, SOQUEM, and various juniors companies conducting geophysical surveys, drilling, and geochemical sampling. From 2012 to 2014, Vanstar identified key gold-bearing zones through magnetic surveys and drilling, leading to the 2014 option agreement with IAMGOLD.

Monster Lake

Resumption of exploration activities started in 2023 and involved evaluating various regional targets developed from targeting exercises to guide future drilling programs and to update the Mineral Resource Estimation with drill results obtained subsequent to the completion of the last estimation. In 2024, 5,900 metres of drilling were completed—3,500 metres in Q1 along the Monster Lake Shear Zone and 1,800 metres in Q4 to test resource extensions. On October 23, 2024, the Company reported an updated Mineral Resource Estimate.