# Maple Gold Files Technical Report and Updated Mineral Resource Estimate for the Douay/Joutel Gold Project, Qu&\#xE9;bec Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/maple-gold-files-technical-report-and-updated-mineral-resource-estimate-for-the--43ac93cc-034a-47bb-a8d3-d0f571199314 Original source: https://money.tmx.com/en/quote/MGM/news/7028009135977224/maple-gold-files-technical-report-and-updated-mineral-resource-estimate-for-the- Publisher: tmx Original announcement: 2026-06-11T23:08:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Maple Gold Mines Ltd. - Ticker: MGM - Exchange: TSX - Region: Québec, Canada - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-08-23 22:27:09 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Maple Gold has filed an updated Mineral Resource Estimate for its Douay/Joutel Gold Project in Québec, reporting a combined 905,000 ounces of gold Indicated \(19.1 Mt at 1.48 g/t Au\) and 4,297,000 ounces Inferred \(130.2 Mt at 1.03 g/t Au\). This update includes significant increases in contained gold ounces for Douay and a maiden high-grade underground resource for Joutel. While overall contained metal has grown substantially, average grades have decreased, partly due to lower cut-off grades and higher gold price assumptions used in the estimate. Reasoning: The updated MRE demonstrates substantial growth in total contained gold ounces for the Douay/Joutel project, including a new high-grade underground resource at Joutel, although this growth is accompanied by a decrease in average grades and is partially attributable to lower cut-off grades and higher gold price assumptions. - Positive factor: Significant increase in total contained gold ounces across both Indicated \(+77%\) and Inferred \(+70%\) categories for the combined Douay/Joutel project. - Positive factor: Establishment of a maiden high-grade underground resource at Joutel. - Positive factor: Overall increase in resource scale, providing a larger foundation for future development. - Negative factor: Average grades have declined across most categories for Douay \(e.g., -17% for Douay Open Pit Indicated, -16% for Douay Total Indicated\). - Negative factor: Tonnage growth is partly attributable to lower cut-off grades \(e.g., Douay Open Pit COG reduced from 0.45 g/t to 0.35 g/t Au\) and higher gold price assumptions \(US$1,800/oz to US$2,500/oz\). Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 6 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: The combined Douay and Joutel project shows a 91% increase in Indicated tonnes \(from 10.0 Mt to 19.1 Mt\) and a 70% increase in Inferred tonnes \(from 76.7 Mt to 130.2 Mt\) compared to the 2022 MRE. Evidence · table > +91% Context: 19.1 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: The combined Douay and Joutel project shows a 77% increase in Indicated contained gold \(from 511 koz to 905 koz\) and a 70% increase in Inferred contained gold \(from 2,525 koz to 4,297 koz\) compared to the 2022 MRE. Evidence · table > +77% Context: 905 **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The document explicitly states 'A maiden Joutel underground MRE' has been established. Evidence · text > A maiden Joutel underground MRE \(at a COG of 1.70 g/t Au\): 126,000 oz Au Indicated \(0.9 Mt at 4.53 g/t Au\) and 992,000 oz Au Inferred \(7.5 Mt at 4.11 g/t Au\). **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The technical report was filed 'in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects'. Evidence · text > today announced the filing of a technical report in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects \(" NI 43-101 "\) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Mr. Denis Decharte, P.Eng., of SLR Consulting, is named as the Independent Qualified Person who prepared the MRE and approved the contents of the news release. Evidence · text > The Mineral Resources disclosed in this news release have been estimated by Mr. Denis Decharte, P.Eng., an employee of SLR and independent of Maple Gold. By virtue of his education and relevant experience, Mr. Decharte is a Qualified Person for the purpose of NI 43-101. ... Mr. Decharte has read and approved the contents of this news release as it pertains to the disclosed MRE. **Cut-off Lowered** Polarity: negative Definition: Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation. Why it applies: The Douay Pit-constrained MRE uses a 0.35 g/t Au COG compared to 0.45 g/t Au for the 2022 MRE, and Douay Underground uses 0.98 g/t Au compared to 1.15 g/t Au for the 2022 MRE. Evidence · text > Douay Pit-constrained Mineral Resources for the SLR 2026 MRE are reported above a 0.35 g/t Au COG compared to a 0.45 g/t Au COG for the SLR 2022 MRE. Douay Underground Mineral Resources are reported above a 0.98 g/t Au cut-off grade for the SLR 2026 MRE compared to a 1.15 g/t Au cut-off grade for the SLR 2022 MRE. **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: The Douay Open Pit Indicated grade declined by 17% \(from 1.59 g/t to 1.31 g/t\) and Douay Total Indicated grade declined by 16% \(from 1.59 g/t to 1.33 g/t\) compared to the 2022 MRE. Evidence · table > -17% Context: 1.31 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A significant portion of the total resource, 4,297,000 oz Au \(130.2 Mt\), is classified as Inferred, which is a speculative category. Evidence · table > 4,297 Context: 130.2 ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Resource Estimates (6) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-files-technical-report-and-updated-mineral-resource-estimate-for-the--43ac93cc-034a-47bb-a8d3-d0f571199314#fact-resource-facts-0) Douay · gold #### Identity - Project: Douay - Commodity: gold - Ticker: MGM #### Resource Data - Category: indicated - Tonnes: 17300000 - Grade: 1.31 - Grade Unit: g/t - Contained Metal: 731000 - Contained Unit: oz - Cutoff Grade: 0.35 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-11T00:00:00.000Z Reasoning: The Douay Open Pit Indicated resource shows substantial growth in contained ounces and tonnage, but with a notable decrease in grade and a lower cut-off grade compared to the prior estimate. - Positive factor: Significant increase in contained metal \(+43%\) and tonnage \(+73%\) compared to the previous estimate. - Negative factor: Grade declined by 17% compared to the previous estimate. - Negative factor: Cut-off grade was lowered from 0.45 g/t Au to 0.35 g/t Au, contributing to tonnage growth. Evidence · table > 1.31 Context: 17.3 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-files-technical-report-and-updated-mineral-resource-estimate-for-the--43ac93cc-034a-47bb-a8d3-d0f571199314#fact-resource-facts-1) Douay · gold #### Identity - Project: Douay - Commodity: gold - Ticker: MGM #### Resource Data - Category: inferred - Tonnes: 111100000 - Grade: 0.77 - Grade Unit: g/t - Contained Metal: 2744000 - Contained Unit: oz - Cutoff Grade: 0.35 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-11T00:00:00.000Z Reasoning: The Douay Open Pit Inferred resource shows substantial growth in contained ounces and tonnage, but with a notable decrease in grade and a lower cut-off grade compared to the prior estimate, and remains in the Inferred category. - Positive factor: Significant increase in contained metal \(+33%\) and tonnage \(+63%\) compared to the previous estimate. - Negative factor: Grade declined by 18% compared to the previous estimate. - Negative factor: Cut-off grade was lowered from 0.45 g/t Au to 0.35 g/t Au, contributing to tonnage growth. - Negative factor: This is an Inferred resource, which carries lower geological confidence. Evidence · table > 0.77 Context: 111.1 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-files-technical-report-and-updated-mineral-resource-estimate-for-the--43ac93cc-034a-47bb-a8d3-d0f571199314#fact-resource-facts-2) Douay · gold #### Identity - Project: Douay - Commodity: gold - Ticker: MGM #### Resource Data - Category: indicated - Tonnes: 900000 - Grade: 1.66 - Grade Unit: g/t - Contained Metal: 48000 - Contained Unit: oz - Cutoff Grade: 0.98 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-11T00:00:00.000Z Reasoning: A new Indicated underground resource has been established for Douay, adding to the project's overall confidence and potential. - Positive factor: New underground Indicated resource established for Douay. Evidence · table > 1.66 Context: 0.9 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-files-technical-report-and-updated-mineral-resource-estimate-for-the--43ac93cc-034a-47bb-a8d3-d0f571199314#fact-resource-facts-3) Douay · gold #### Identity - Project: Douay - Commodity: gold - Ticker: MGM #### Resource Data - Category: inferred - Tonnes: 11700000 - Grade: 1.5 - Grade Unit: g/t - Contained Metal: 560000 - Contained Unit: oz - Cutoff Grade: 0.98 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-11T00:00:00.000Z Reasoning: The Douay Underground Inferred resource shows growth in contained ounces and tonnage, but with a decrease in grade and a lower cut-off grade compared to the prior estimate, and remains in the Inferred category. - Positive factor: Increase in contained metal \(+22%\) and tonnage \(+37%\) compared to the previous estimate. - Negative factor: Grade declined by 11% compared to the previous estimate. - Negative factor: Cut-off grade was lowered from 1.15 g/t Au to 0.98 g/t Au, contributing to tonnage growth. - Negative factor: This is an Inferred resource, which carries lower geological confidence. Evidence · table > 1.50 Context: 11.7 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-files-technical-report-and-updated-mineral-resource-estimate-for-the--43ac93cc-034a-47bb-a8d3-d0f571199314#fact-resource-facts-4) Joutel · gold #### Identity - Project: Joutel - Commodity: gold - Ticker: MGM #### Resource Data - Category: indicated - Tonnes: 900000 - Grade: 4.53 - Grade Unit: g/t - Contained Metal: 126000 - Contained Unit: oz - Cutoff Grade: 1.7 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-11T00:00:00.000Z Reasoning: A maiden high-grade Indicated underground resource has been established for Joutel, significantly adding to the project's overall value and confidence. - Positive factor: Maiden high-grade underground Indicated resource established for Joutel. - Positive factor: The grade of 4.53 g/t Au is strong for an underground Indicated resource. Evidence · table > 4.53 Context: 0.9 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/maple-gold-files-technical-report-and-updated-mineral-resource-estimate-for-the--43ac93cc-034a-47bb-a8d3-d0f571199314#fact-resource-facts-5) Joutel · gold #### Identity - Project: Joutel - Commodity: gold - Ticker: MGM #### Resource Data - Category: inferred - Tonnes: 7500000 - Grade: 4.11 - Grade Unit: g/t - Contained Metal: 992000 - Contained Unit: oz - Cutoff Grade: 1.7 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-11T00:00:00.000Z Reasoning: A maiden high-grade Inferred underground resource has been established for Joutel, significantly adding to the project's overall potential, though it is in the Inferred category. - Positive factor: Maiden high-grade underground Inferred resource established for Joutel. - Positive factor: The grade of 4.11 g/t Au is strong for an underground Inferred resource. - Negative factor: This is an Inferred resource, which carries lower geological confidence. Evidence · table > 4.11 Context: 7.5 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.