Market Newsdesk

RENO, Nev., July 20, 2026 (GLOBE NEWSWIRE) — Monarch Casino & Resort, Inc. (Nasdaq: MCRI) (“Monarch” or “the Company”) today reported operating results for the second quarter ended June 30, 2026, as summarized below:

($ in thousands, except per share data and percentages)

	Three Months Ended June 30,									Six Months Ended June 30,
		2026			2025		Increase				2026			2025		Increase
Net revenue	$142,597			$136,914			4.2	%		$279,147			$262,308			6.4	%
Net income(1)(2)		32,523			27,008		20.4	%			60,115			46,872		28.3	%
Adjusted EBITDA(3)	$52,999			$51,289			3.3	%		$101,950			$92,420			10.3	%
Basic EPS	$1.82			$1.47			23.8	%		$3.37			$2.55			32.2	%
Diluted EPS(1)(2)	$1.78			$1.44			23.6	%		$3.30			$2.50			32.0	%

<sup>(1) For the three months ended June 30, 2026 Net income and Diluted EPS were positively impacted by $2.4 million, or $0.13 per diluted EPS, from excess tax benefit on stock options compensation, resulting in a lower effective tax rate (17.4% in the second quarter of 2026 and 23.5% in the second quarter of 2025);

(2) For the six months ended June 30, 2026 Net income and Diluted EPS were positively impacted by $2.6 million, or $0.14 per diluted EPS, from excess tax benefit on stock options compensation, resulting in a lower effective tax rate (19.7% in the first six months of 2026 and 23.1% in the first six months of 2025);

(3) Definitions, disclosures and reconciliations of non-GAAP financial information are included later in the release.</sup>

CEO Comment

John Farahi, Co-Chairman and Chief Executive Officer of Monarch, commented: “Monarch delivered record second-quarter financial results. Second quarter net revenue increased 4.2% year-over-year reflecting growth in casino, F&B and hotel revenue. Adjusted EBITDA grew 3.3% compared to the same period last year. The second-quarter 2026 adjusted EBITDA margin remained near record levels at 37.2%, inclusive of a rise in employee benefit expenses, compared to 37.5% in Q2 2025. The second quarter revenue and adjusted EBITDA growth highlights our ability to drive sustained growth from our two properties.

“We continue to focus on excellence by delivering exceptional product and service to our guests, while maintaining operational efficiency. We remain committed to ongoing capital investments that enhance both properties and set the standard for luxury casino resorts in Northern Nevada and Colorado.

“Monarch’s strong operating results and positive trends allows us to continue to return capital to stockholders. In the second quarter of 2026, we returned $5.4 million to stockholders through our quarterly cash dividend. At the same time, we increased our cash position by $18.1 million.”

Summary of 2026 Second Quarter Operating Results

In the second quarter of 2026, the Company generated net revenue of $142.6 million compared to $136.9 million in the corresponding prior-year period. Casino revenue increased 2.5% compared to the same prior-year period, food and beverage (“F&B”) increased 3.1% and hotel revenue increased 13.0%, compared to the same prior-year period. F&B and hotel revenues benefited from higher available rooms at Atlantis in the second quarter of 2026 compared to the same period in 2025 and expanded convention and group business.

Selling, general and administrative (“SG&A”) expense for the second quarter of 2026 was $28.6 million compared to $26.8 million in the corresponding prior-year period. As a percentage of net revenue, SG&A expense increased slightly to 20.0% from 19.6% in the corresponding prior-year period. Casino operating expense as a percentage of casino revenue decreased slightly to 35.5% during the second quarter of 2026 from 35.7% in the corresponding prior-year period primarily due to improved labor management and operational efficiency. During the second quarter of 2026, F&B operating expense as a percentage of F&B revenue increased to 72.9% from 70.3% in the corresponding prior-year period due to increases in labor and product cost per cover. Hotel operating expense as a percentage of hotel revenue decreased to 32.1% in the second quarter of 2026 compared to 34.3% in the corresponding prior-year period, primarily due to an increase in Average Daily Rate and improved costs per occupied room in the current period compared to the same period in the prior year.

Net income for the second quarter of 2026 increased 20.4% and diluted EPS increased 23.6% compared to the same period last year. The Company generated consolidated Adjusted EBITDA of $53.0 million in the second quarter of 2026, which represents a $1.7 million, or 3.3% increase, compared to the same prior-year period.

Credit Facility and Liquidity

As of June 30, 2026, the Company had cash and cash equivalents of $138.3 million and no borrowings against its credit facility.

Capital expenditures of $5 million in the second quarter of 2026 were funded from operating cash flow and included costs related to ongoing maintenance capital projects at both properties.

On June 15, 2026, the Company paid a cash dividend of $0.30 per share to its stockholders of record as of June 1, 2026 for a total of $5.4 million. The cash dividend was funded from operating cash flow.

Monarch believes its strong balance sheet and free cash flow favorably positions the Company to continue investing in its properties, share repurchases and paying cash dividends. The Company has been diligently evaluating potential M&A transactions, which it believes could drive additional long-term value for stockholders.

Quarterly Dividend Declaration

The Company today announced a cash dividend of $0.30 per share of its outstanding common stock. The dividend is payable on September 15, 2026 to stockholders of record as of September 1, 2026. This cash dividend is part of the previously announced annual cash dividend of $1.20 per share payable in quarterly payments and subject to quarterly review and evaluation by the Company’s Board of Directors.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “plan,” “believe,” “expect,” “seem,” “look,” “look forward,” “positioning,” “future,” “will,” “confident” and similar references to future periods. Example of forward-looking statements include, among others, statements we make regarding: (i) the continuing strength of our balance sheet and our expected free cash flow; (ii) our expectations regarding continuing our dividend payments in the future; (iii) our expectations regarding the cash flow we expect to generate to fund our cash dividends to stockholders; and, (iv) our beliefs regarding the impact of our capital investment strategy and evaluation of potential strategic transactions on our long term success. Actual results and future events and conditions may differ materially from those described in any forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, without limitation:

• adverse impacts of outbreaks of contagious diseases on our business, financial condition and operating results;
• actions taken by government officials at the federal, state and/or local level with respect to the containment of disease outbreaks, including, without limitation, temporary or extended shutdowns, travel restrictions, social distancing and shelter-in-place orders;
• our ability to manage guest safety concerns in connection with an outbreak of contagious diseases;
• our ability to maintain compliance with the terms and conditions of our credit facilities and other material contracts in the event of any unexpected or unplanned events, such as temporary or extended shutdowns;
• access to available and reasonable financing on a timely basis;
• our ability to maintain strong working relationships with our regulators, employees, lenders, suppliers, insurance carriers, customers, and other stakeholders;
• impacts of any uninsured losses;
• changes in guest visitation or spending patterns due to economic conditions, health,  international relations  or other concerns;
• construction factors, including delays, disruptions, availability of labor and materials, increased costs of labor and materials, contractor disagreements, zoning issues, environmental restrictions, soil and water conditions, weather and other hazards, site access matters, building permit issues and other regulatory approvals or issues;
• ongoing disagreements over costs of and responsibility for delays and other construction related matters with our general contractor at Monarch Casino Resort Spa Black Hawk, PCL Construction Services, Inc. (“PCL”), including, as previously reported, the litigation against us by such contractor;
• the judgment entered in PCL’s favor and against Monarch in the above-mentioned litigation in the amount of $74,627,657 (the “Judgment”), in Case No. 2019cv33368 in the District Court for the State of Colorado, City and County of Denver (the “Court”), including the outcome of any post-judgment motions filed by PCL in the Court for further release;
• the outcome of our appeal of the Judgment;
• our potential need to post other bonds or other forms of surety to support our legal remedies;
• risks related to development and construction activities (including disputes with and defaults by contractors and subcontractors, construction, equipment or staffing problems and delays, shortages of materials or skilled labor, environmental, health and safety issues, weather and other hazards, site access matters, and unanticipated cost increases);
• our ability to generate sufficient operating cash flow to help finance our expansion plans;
• changes in laws mandating increases in minimum wages and employee benefits;
• changes in laws and regulations permitting expanded and other forms of gaming in our key markets;
• the effects of local and national economic, credit and capital market conditions on the economy in general and on the gaming industry and our business in particular, including predictions for a potential recession;
• the effects of labor shortages on our market position, growth and financial results;
• the potential of increases in state and federal taxation;
• the potential of increased regulatory and other burdens;
• guest acceptance of our expanded facilities once completed and the resulting impact on our market position, growth and financial results;
• competition in our target market areas;
• the impact of the recently enacted tariffs on our business, including the potential increase in our operating costs;
• broad-based inflation, including wage inflation; and
• the impact of the conflicts taking place in Ukraine, Israel, Iran, other areas of the Middle East and other parts of the world.

Additional information concerning potential factors that could adversely affect all forward-looking statements, including the Company’s financial results, is included in our Securities and Exchange Commission filings, including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q, which are available on our website at www.monarchcasino.com.

About Monarch Casino & Resort, Inc.

Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Monarch Casino Resort Spa (“Monarch Black Hawk”) in Black Hawk, Colorado, approximately 40 miles west of Denver and the Atlantis Casino Resort Spa (“Atlantis”), a hotel/casino facility in Reno, Nevada. For additional information on Monarch, visit the Company’s website at www.monarchcasino.com.

Atlantis features 817 guest rooms and suites, and approximately 61,000 square feet of casino space. The casino features approximately 1,200 slot and video poker machines; approximately 33 table games, including blackjack, craps, roulette, and others; a race and sports book; a 24-hour live keno lounge; and a poker room. It also includes eight food outlets; two gourmet coffee and pastry bars; a retail store; a 30,000 square foot health spa and salon with an enclosed year-round pool; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention and meeting room space.

Monarch Black Hawk features 516 guest rooms and suites, and approximately 60,000 square feet of casino space. The resort offers approximately 1,100 slot machines; 37 table games; a poker room; keno; and a sports book. It also includes 10 bars and lounges, as well as four dining options: a twenty-four-hour full-service restaurant, a buffet-style restaurant, the Monarch Chophouse (a fine-dining steakhouse), and Bistro Mariposa (elevated Southwest cuisine), banquet and meeting room space, a retail store, a concierge lounge and an upscale spa and enclosed year-round pool located on the top floor of the tower. The resort is connected to a nine-story parking structure with approximately 1,350 parking spaces, and additional valet parking, with total property capacity of approximately 1,500 spaces.

Contacts:

John Farahi
Chief Executive Officer
775/824-4401 or [email protected]

Joseph Jaffoni, Christin Armacost
JCIR
212/835-8500 or [email protected]

– financial tables follow –

MONARCH CASINO & RESORT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data, unaudited)
		Three months ended June 30,								Six months ended June 30,
			2026				2025				2026				2025
Revenues
Casino		$	81,540			$	79,589			$	161,286			$	152,484
Food and beverage			33,179				32,191				64,880				62,213
Hotel			21,585				19,110				40,541				35,818
Other			6,293				6,024				12,440				11,793
Net revenues			142,597				136,914				279,147				262,308
Operating expenses
Casino			28,920				28,449				57,653				55,966
Food and beverage			24,182				22,636				47,226				44,945
Hotel			6,920				6,556				13,742				12,852
Other			3,133				3,073				6,332				6,151
Selling, general and administrative			28,564				26,786				56,318				53,976
Depreciation and amortization			10,664				13,571				21,131				26,786
Other Operating Items, net			1,591				944				3,176				1,415
Total operating expenses			103,974				102,015				205,578				202,091
Income from operations			38,623				34,899				73,569				60,217
Interest income, net			742				392				1,340				708
Income before income taxes			39,365				35,291				74,909				60,925
Provision for income taxes			(6,842	)			(8,283	)			(14,794	)			(14,053	)
Net income		$	32,523			$	27,008			$	60,115			$	46,872
Earnings per share of common stock
Basic		$	1.82			$	1.47			$	3.37			$	2.55
Diluted		$	1.78			$	1.44			$	3.30			$	2.50
Weighted average number of common shares and potential common shares outstanding
Basic			17,873				18,383				17,858				18,416
Diluted			18,261				18,723				18,237				18,776

MONARCH CASINO & RESORT, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(In thousands, except per share data)
		June 30, 2026				December 31, 2025
ASSETS		(unaudited)
Current assets
Cash and cash equivalents		$	138,261			$	96,468
Receivables, net of provision for credit losses			9,569				11,067
Income taxes receivable			5,042				3,013
Inventories			8,299				9,089
Prepaid expenses and other			7,680				9,616
Total current assets			168,851				129,253
Property and equipment, net			545,040				556,668
Goodwill			25,111				25,111
Intangible assets, net			2,159				1,817
Total assets		$	741,161			$	712,849
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable		$	41,884			$	44,924
Construction accounts payable			48,355				50,209
Accrued expenses			48,663				54,049
Short-term lease liability			953				1,019
Total current liabilities			139,855				150,201
Deferred income taxes			11,626				11,626
Long-term lease liability			11,838				12,279
Other long-term liabilities			1,073				1,073
Total liabilities			164,392				175,179
Stockholders’ equity
Preferred stock, $.01 par value, 10,000,000 shares authorized; none issued			–				–
Common stock, $.01 par value, 30,000,000 shares authorized;
19,829,049 shares issued and 17,922,521 outstanding at June 30, 2026
19,544,290 shares issued and 17,819,020 outstanding at December 31, 2025			198				195
Additional paid-in capital			83,276				76,038
Treasury stock, 1,906,528 shares at June 30, 2026 and 1,725,270 shares at December 31, 2025			(153,930	)			(136,411	)
Retained earnings			647,225				597,848
Total stockholders’ equity			576,769				537,670
Total liabilities and stockholders’ equity		$	741,161			$	712,849

MONARCH CASINO & RESORT, INC. AND SUBSIDIARIES 

RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME

 (In thousands, unaudited)

The following table sets forth a reconciliation of Adjusted EBITDA, a non-GAAP financial measure, to net income, a GAAP financial measure:

	Three Months Ended June 30,								Six Months Ended June 30,
		2026				2025				2026				2025
Net income	$	32,523			$	27,008			$	60,115			$	46,872
Expenses:
Stock-based compensation		2,121				1,875				4,074				4,002
Depreciation and amortization		10,664				13,571				21,131				26,786
Provision for income taxes		6,842				8,283				14,794				14,053
Interest income, net		(742	)			(392	)			(1,340	)			(708	)
Construction litigation expenses(2)		430				916				777				1,363
Principal judgement on construction litigation accrual(2)		1,116				–				2,220				–
Other litigation expense accrual(2)		65				–				163				–
Lobbying expense to oppose the expansion of iGaming(2)		61				22				176				50
Loss (gain) on disposition of assets(2)		(81	)			6				(160	)			2
Adjusted EBITDA(1)	$	52,999			$	51,289			$	101,950			$	92,420

<sup>(1) Adjusted EBITDA, a non-GAAP financial measure, consists of net income plus loss (gain) on disposal of assets, provision for income taxes, stock-based compensation expense, other one-time charges, construction litigation expenses, acquisition expenses, interest expense, depreciation and amortization less interest income, any benefit for income taxes and gain on disposal of assets. Adjusted EBITDA should not be construed as an alternative to operating income (as determined in accordance with US Generally Accepted Accounting Principles), as an indicator of the Company’s operating performance, as an alternative to cash flows from operating activities (as determined in accordance with US GAAP) or as a measure of liquidity. This measure enables comparison of the Company’s performance over multiple periods, as well as against the performance of other companies in our industry that report Adjusted EBITDA, although some companies do not calculate this measure in the same manner and, therefore, the measure as presented may not be comparable to similarly titled measures presented by other companies.

(2) Amount included in the “Other operating items, net” in the Consolidated Statement of Income.</sup>

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[email protected]
(833) 672-0814

VANCOUVER, British Columbia, July 20, 2026 (GLOBE NEWSWIRE) — Eldorado GoldCorporation (TSX: ELD, NYSE: EGO) (“Eldorado” or the “Company”) is pleased to provide an update on progress at its Skouries copper-gold project in Northern Greece. Skouries is in the final stages of construction and has entered the commissioning phase, with first ore now processed through the crushing circuit. The Company continues to target first production of copper-gold concentrate in the third quarter of 2026 and commercial production targeted for the fourth quarter of 2026, subject to completion of final site energization, integrated commissioning and ramp-up activities.

Highlights

• First ore crushed. First ore has been fed through the commissioned crushing circuit, an important demonstration that front-end processing is operating as expected.
• Commissioning continues across the site. Wet and dry commissioning activities are progressing across the crushing, grinding, flotation, concentrate handling, and tailings circuits, with systems being handed over from construction to the combined commissioning and operations team on a staged basis.
• Final site energization remains subject to Greek power authority completion of testing. The final transmission tower has been installed following a coordinated and successful eight-hour power outage on the transmission line. Full site energization remains contingent on final inspection by the relevant Greek authority and receipt of final sign-off. To support commissioning readiness and ongoing process plant activities while final site energization progresses, the Company has proactively added additional gensets to provide interim power as required.
• Ore stockpile of approximately 3.9 million tonnes. Open pit mining continues to run ahead of schedule, building a run-of-mine stockpile of approximately 3.4 million tonnes to support a steady ramp-up of the plant. Including ore from the underground, total stockpiles have reached approximately 3.9 million tonnes. This stockpile is expected to provide the ore feed required through 2026 and supports a lower-risk commissioning and first year of production.

“Crushing first ore is an important milestone for Skouries and reflects the steady, safe progress being made by our team as the project moves through the final stages of construction and staged commissioning,” said George Burns, Chief Executive Officer. “While final site energization remains subject to final inspection and sign-off by the Greek power authority, we are taking proactive steps to maintain momentum, including adding the supplemental generators to support commissioning readiness and activities within the process plant. Full integrated operation of the process plant will require final site energization, and our focus remains on completing the remaining steps safely and methodically as we work toward first concentrate in the third quarter.” 

First Ore Through the Crushing Circuit

First ore has been fed through the commissioned crushing circuit, with ore now being processed as part of staged commissioning. Full handover of the crushing circuit from the commissioning team to the operations team is currently underway. The Company expects to introduce ore to the grinding and flotation circuits as those systems are progressively commissioned, building toward first copper-gold concentrate production in the third quarter of 2026.

A video showing ore being processed through the primary crusher conveyed to the coarse ore stockpile can be found here: Skouries – Crushed Ore.

Crushed ore conveyed from the primary crusher to the coarse ore stockpile

Power and Energization

Power infrastructure construction at Skouries has continued to advance and construction of all 12 towers and conductors is now complete. A coordinated, successful eight-hour power outage on the transmission line enabled installation of the final transmission tower. Initial tests of the sub-station have been completed by a third-party testing group. Final site energization remains contingent on inspection, final testing and installation of metering equipment by the relevant Greek authority and receipt of final sign-off. 

In the interim, Eldorado has proactively added additional gensets to support commissioning activities and maintain progress where practical, including readiness and commissioning activities within the process plant. Full operation of major process plant systems, crushing, grinding, flotation, concentrate handling and tailings disposal, requires final site energization by the power authority.

Final transmission tower

Main substation

Commissioning

Commissioning is progressing on a staged basis across multiple areas at Skouries. Dry, wet and hot commissioning activities are advancing where practical through the crushing, grinding, flotation, concentrate handling and filtered tailings circuits. Individual systems are being tested, verified against design parameters and handed over from the construction team to the operations team in a sequenced manner. 

The Company will continue to advance commissioning of remaining circuits as it works toward integrated plant operation and first concentrate production. 

Mining and Ore Stockpiling

Open pit mining at Skouries continues to perform ahead of schedule. The Company has established an ore stockpile of approximately 3.9 million tonnes, with approximately 3.4 million tonnes from the open-pit, providing ample feed to support a controlled and steady ramp-up of the processing plant through commissioning and into commercial production. Underground development also continues to advance in parallel. This stockpile is expected to provide the ore feed required through 2026 and supports a lower-risk commissioning and first year of production.

Qualified Person

Simon Hille, FAusIMM, Executive Vice President, Chief Operating Officer, is the Qualified Person under National Instrument 43-101 responsible for preparing and supervising the preparation of the scientific or technical information contained in this news release and for verifying the technical data disclosed in this document relating to Skouries.

About Eldorado Gold

Eldorado is a gold, copper and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado’s common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).

Contact

Investor Relations

Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media

Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipate”, “believe”, “budget”, “continue”, “commitment”, “confident”, “deliver”, “estimate”, “expect”, “focus”, “forecast”, “foresee”, “future”, “generate”, “goal”, “guidance”, “intend”, “opportunity”, “outlook”, “plan”, “potential”, “project”, “prospective”, “schedule”, “strive”, “target”, “underway”, “working” or the negatives thereof or variations of such words and phrases or similar words or statements that certain actions, events or results “can”, “could”, “likely”, “may”, “might”, “will” or “would” be taken, occur or be achieved.

Forward-looking statements or information contained in this news release include, but is not limited to, statements or information with respect to: expected progress of the Skouries Project; our expectations of first concentrate production and commercial production, and expected timing thereof; our belief that front-end processing is operating as expected, including our expectations to introduce ore to the grinding and flotation circuits; progress of wet and dry commissioning activities, including our expectations toward integrated plant operation; our continued addition of supplemental power to maintain commissioning momentum; expectations of final inspections and approvals; progress of open pit mining and underground development, including our expectations that our ore stockpile provides ample feed to support ramp-up of the processing plant; and generally our strategy, plans and goals, including our proposed exploration, development, construction, permitting, financing and operating potential, plans and priorities and related timelines and schedules.

Forward-looking statements and forward-looking information by their nature are based on a number of assumptions that management considers reasonable. However, if such assumptions prove to be inaccurate, then actual results, activities, performance, or achievements may be materially different from those described in the forward-looking statements or information. These include assumptions concerning, among other things: timing, costs and results of our construction and development activities, improvements and exploration, including at the Skouries project, the McIlvenna Bay project and our other operating mines and development projects; the current or future price of gold, copper and other commodities; the availability of financing for our exploration, development and operating activities and our ability to access existing project funding and remain in compliance with all covenants and contractual commitments related thereto; the geopolitical, economic, permitting and legal climate that we operate in, including recent disruptions to shipping operations in the Strait of Hormuz and Red Sea and any related shipping delays, shipping price increases, or impacts on the global energy market; availability of labour resources, including for construction, development and improvements activities; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom; general business and economic conditions, including interest rates, inflation, commodity and power prices, credit and financial market conditions and the impact of foreign exchange rates and tax rates and related frameworks; anticipated values, costs, expenses and working capital requirements; production and metallurgical recoveries; Mineral Reserves and Mineral Resources; our ability to develop, finalize and execute on our updated five-year strategic plan through 2030; acts of governments and the outcome of any legal or regulatory proceedings or other disputes that we may be involved in; our ability to continue to make purchases under our normal course issuer bid and to pay dividends; the impact of acquisitions, dispositions, suspensions or delays on our business; our ability to manage and mitigate the risks associated with our use of technology and artificial intelligence; the expected vesting and redemption outcomes under our compensation securities; our ability to address the negative impacts of climate change and adverse weather; consistency of agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential consumables; the impact and effectiveness of productivity initiatives; the time and cost necessary for anticipated overhauls of equipment; expected by-product grades; the effectiveness of our hedging programs; and our ongoing relations with regulators, communities, and our partners.

More specifically, with respect to the Skouries Project and updates, we have made additional assumptions regarding: our ability and our contractors’ ability to recruit and retain labour resources within the required timeline; labour productivity, rates, and expected hours; inflation rates; the expected scope of project management frameworks; our ability to continue executing our plans relating to the Skouries Project on the estimated existing project timeline and consistent with the current planned project scope; the timeliness of shipping for important or critical items; our ability to continue accessing our project funding and remain in compliance with all covenants and contractual commitments related thereto; our ability to obtain and maintain all required approvals and permits, both overall and in a timely manner; our ability to obtain the requisite inspections and approvals for energization of the power supply from the power authority in a timely manner; the absence of further previously unidentified archaeological discoveries which would delay construction of various portions of the project; the future price of gold, copper, and other commodities; and the broader community engagement and social climate in respect of the Skouries Project.

In addition, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking statements or information contained in this news release are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements or information, including, but not limited to: commodity price risk; construction and development risks at the Skouries project, the McIlvenna Bay project and our other construction and development projects; changing political, economic and social conditions, including changes in governments or political systems, ongoing market uncertainty and global or regional geopolitical events, conflicts or disruptions; risks relating to our operations in foreign jurisdictions; risks related to production and processing; risks related to our improvement projects; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom on the timelines expected or at all; delays and risks relating to surface construction, commissioning activities, ramp-up, and commercial production at McIlvenna Bay; our ability to obtain reliable supplies of power and water at a reasonable cost; prices of commodities and consumables; our reliance on significant amounts of critical equipment; our reliance on infrastructure, commodities and consumables, including risks from volatility and inflationary pressures as a result from the ongoing international conflict in Iran; inflation risk; risks related to fluctuations in the currency markets, including the Euro, Turkish lira, Canadian dollar and United States dollar; community relations and social license; environmental matters; geotechnical and hydrogeological structures, conditions or failures, including our ability to completely understand such structures and to mitigate such conditions or failures at a reasonable cost or at all; regulatory requirements as they relate to mine plan approvals; compliance with the Extractive Sector Transparency Measures Act (Canada); waste disposal; mineral tenure; permits, licenses and other authorizations; non-governmental organizations; reputational issues; climate change, including risks related to forest fires and water management; water collection, treatment and disposal operations at our mines, including the ability to manage unexpectedly large quantities of water; risk of spills or failure from our tailings operations (including circumstances beyond our control such as extreme weather, seismic events, prolonged droughts or heavy rainfall); environmental risks from our heap leaching operations, including hazardous materials management of our use of cyanide; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; risks related to replacement of Mineral Reserves; regulatory reviews and different standards used to prepare and report Mineral Reserves and Mineral Resources; risks relating to any pandemic, epidemic, endemic or similar public health threats; regulated substances; acquisitions, including integration risks; dispositions; co-ownership of our properties; investment portfolio; volatility, volume fluctuations, and dilution risk in respect of our shares; competition; reliance on a limited number of smelters and off-takers; information and operational technology systems; liquidity and financing risks; indebtedness, including current and future operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and changes in credit ratings; total cash costs per ounce and all in sustaining costs, including in relation to the market price of gold and the Company’s profitability; interest rate risk; credit risk; tax matters; financial reporting, including relating to the carrying value of our assets and changes in reporting standards; the global economic environment; labour risks (availability of labour resources, including for construction, development and improvements activities, and their productivity; and risks relating to employee/union relations, employee misconduct, key personnel, skilled workforce, expatriates and contractors, reclamation and long-term obligations); turnover and attrition rates of labour, and related impacts thereto; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks related to title and surface rights; risks relating to environmental, sustainability, health and safety, and governance matters; technology and cybersecurity risks; corruption, bribery, and sanctions; litigation and contracts; conflicts of interest; compliance with applicable laws, legislation and regulations; dividends; tariffs and other trade barriers; and those risk factors discussed in the section titled “Managing Risk” above, as well as those risk factors discussed in the section titled “Risk Factors in Our Business” in the Company’s most recent Annual Information Form and Form 40-F. The reader is directed to carefully review our most recent Annual Information Form, Form 40-F and other regulatory filings filed on SEDAR+ and EDGAR under our Company name for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

With respect to the Skouries Project, these risks, uncertainties and other factors may cause further delays in the completion of the construction and commissioning at the Skouries Project which in turn may cause delays in the commencement of production, and further increase to the costs of the Skouries Project. The specific risks, uncertainties and other factors include, among others: our ability, and the ability of our construction contractors to recruit the required number of personnel (both skilled and unskilled) with required skills within the required timelines, and to manage changes to workforce numbers through the construction of the Skouries Project; our ability to recruit personnel having the requisite skills, experience, and ability to work on site; our ability to efficiently manage the transitions from construction to commission to operations; our ability to increase productivity by, among other things, adding or modifying labour shifts; rising labour costs or costs of key inputs such as materials, power and fuel; risks related to any unanticipated critical equipment defects or failures during the commissioning and ramp-up of operations; risks related to third-party contractors, including reduced control over aspects of the Company’s operations, and/or the ability of contractors to perform at required levels and according to baseline schedules and any commercial disputes that may arise from a contractor’s failure to meet these requirements; the ability of key suppliers to meet key contractual commitments in terms of schedules, amount of product delivered, cost, or quality; impacts to overhead costs related to the schedule; our ability to construct key infrastructure within the required timelines, including the process plant, filter plant, substation, waste management facilities, embankments, tailings conveyors, water management infrastructure, and control centre; the timely receipt of necessary permits and authorizations; differences between projected and actual degree of pre-strip required in the open pit; variability in metallurgical recoveries and concentrate quality due to factors such as extent and intensity of oxidation or presence of transition minerals; presence of additional structural features impacting hydrological and geotechnical considerations; variability in minerals or presence of substances that may have an impact on filtered tails performance and resulting bulk density of stockpiles or filtered tails; distribution of sulfides that may dilute concentrate and change the characteristics of tailings; unexpected disruptions to operations due to protests, non-routine regulatory inspections, road conditions, or labour unrest; unexpected inclement weather and climate events, including wildfires, short and long duration rainfall and floods and other extreme weather events; our ability to meet pre-commercial producing mining or underground development targets; unexpected results from underground stopes; new archaeological discoveries requiring the completion of a regulatory process; changes in support from local communities; and our ability to meet the expectations of communities, governments, and stakeholders related to the Skouries Project. Our project capital and accelerated operational capital costs at Skouries are incurred primarily in Euros but are reported in US dollars and are therefore sensitive to fluctuations in the EUR/USD exchange rate.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c01298d4-7437-4409-8ed2-714bed5d0e22
https://www.globenewswire.com/NewsRoom/AttachmentNg/9d56a687-d3d1-47ec-9c26-f13337315f2f
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• First patient dosed in Phase 3 LUTEON¹ trial evaluating TLX250-Tx in relapsed or recurrent clear cell renal cell carcinoma (ccRCC).
• LUTEON is the first Phase 3 study of a CAIX²-targeted radiopharmaceutical therapy in ccRCC.

MELBOURNE (Australia) and INDIANAPOLIS, July 21, 2026 (GLOBE NEWSWIRE) — Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX, “Telix”) today announced that the first patient has been dosed with TLX250-Tx (lutetium-177 (¹⁷⁷Lu) girentuximab tetraxetan) in the LUTEON study, the first radiopharmaceutical therapy to enter Phase 3 development for ccRCC. LUTEON is a randomized, prospective, open label, multi-center study evaluating a CAIX-targeting radionuclide therapy in patients with relapsed or recurrent ccRCC.

The patient was dosed at GenesisCare Murdoch (Western Australia), under the supervision of Dr. Aviral Singh.

Dr. Aviral Singh, Clinical Head of Theranostics and Nuclear Medicine at GenesisCare Murdoch and Principal Investigator on the LUTEON trial, commented, “Dosing the first patient in the LUTEON study marks an important milestone in the development of potential new treatment options for patients with relapsed or recurrent clear cell renal cell carcinoma. Despite advances in care, outcomes remain poor for many patients, underscoring the need for innovative therapeutic approaches. This study will play a critical role in evaluating the safety, tolerability and efficacy of this investigational CAIX-targeted radiopharmaceutical for patients globally, and we look forward to helping advance the clinical evidence for this promising therapeutic candidate.”

Dr. David N. Cade, Telix Group Chief Medical Officer, added, “LUTEON represents the next stage in Telix’s global clinical development of TLX250-Tx and reflects our commitment to developing precision radiopharmaceuticals for patients with difficult-to-treat cancers. We aim to further evaluate the potential of TLX250-Tx that is designed to utilize the high prevalence of CAIX expression in ccRCC to deliver targeted radiation directly to tumor sites, while limiting exposure to healthy tissue.”

About TLX250-Tx
TLX250-Tx is a first-in-class CAIX-targeting rADC³ therapy candidate composed of a high-specificity monoclonal antibody chelated to the therapeutic radionuclide lutetium-177. CAIX is an attractive therapeutic target because it is expressed in more than 95% of ccRCC, while demonstrating limited expression in normal tissues, including kidney tissue^4,5.

LUTEON is being run under a Phase 3 protocol in Australia and forms part of Telix’s global development program for TLX250-Tx, which includes the separate Phase 2a LUTEON ATLAS study in the United States and Europe.

The LUTEON study utilizes Telix’s investigational PET⁶ imaging agent, TLX250-Px (Zircaix®⁷, zirconium-89 (⁸⁹Zr) girentuximab senvedoxam), to identify eligible patients with CAIX-positive tumors.

About clear cell Renal Cell Carcinoma
Renal Cell Carcinoma, RCC, is the most common form of kidney cancer, accounting for approximately 9 out of 10 diagnoses⁸. Within this category, ccRCC is the most common and often the most aggressive subtype, representing about 85% of all RCC cases⁹ with up to 30% of patients presented with metastatic disease at diagnosis, which has a 20% 5-year survival rate^10,11.

About
Telix Pharmaceuticals Limited 
Telix Pharmaceuticals (ASX: TLX, NASDAQ: TLX) is a commercial-stage global radiopharmaceutical company, advancing targeted theranostics to improve outcomes for people with cancer across the patient journey. Theranostics pairs a precision diagnostic with a targeted therapy to both diagnose and treat disease.

Telix’s commercial franchise is anchored by its prostate cancer imaging portfolio: Illuccix® (kit for the preparation of gallium-68 gozetotide injection), commercially available in 22 countries including the U.S. and Gozellix® (kit for the preparation of gallium-68 gozetotide injection), approved by the U.S. Food and Drug Administration (FDA). The Company’s late-stage therapeutic pipeline includes three assets in pivotal-stage trials – TLX591-Tx (lutetium-177 (¹⁷⁷Lu) rosopatamab tetraxetan) in prostate cancer, TLX101-Tx (¹³¹I-iodofalan) in recurrent glioblastoma, TLX250-Tx (lutetium (¹⁷⁷Lu) girentuximab tetraxetan) in kidney cancer, complemented by a deep pipeline of next generation assets. TLX250-Tx and TLX250-Px have not received a marketing authorization in any jurisdiction.

Telix is headquartered in Melbourne, Australia, with operations across North America, Europe, Latin America and Asia-Pacific. For more information, visit www.telixpharma.com or follow Telix on LinkedIn, X and Facebook.

Investor Relations Annie Kasparian [email protected] Charlene Jaw [email protected]	Media Eliza Schleifstein [email protected]

¹ ClinicalTrials.gov ID: NCT07197580.
² Carbonic Anhydrase IX.
³ Radio antibody-drug conjugate.
⁴ Luong-Player A, et al. Am J Clin Pathol. 2014.
⁵ Kleinendorst SC, et al. Theranostics. 2024.
⁶ Positron emission tomography.
⁷ Brand name subject to final regulatory approval.
⁸ Bukavina, L, et al. Eur Urol. 2022.
⁹ Alchahin AM, et al. Nat Commun. 2022.
¹⁰ National Cancer Institute. Cancer stat facts: kidney and renal pelvis cancer. Updated 2025. Accessed May 1, 2026. https://seer.cancer.gov/statfacts/html/kidrp.html.
¹¹ Vento JA, et al. Cancers(Basel). 2022.

Legal Notices

Cautionary Statement Regarding Forward-Looking Statements. 

You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our website.

The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification. To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement.

This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as “may”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “outlook”, “forecast” and “guidance”, or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix’s good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix’s business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix’s business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress, completion and results of Telix’s preclinical and clinical trials, and Telix’s research and development programs; Telix’s ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix’s product candidates, including TLX250-Px, manufacturing activities and product marketing activities; Telix’s sales, marketing and distribution and manufacturing capabilities and strategies; the commercialization of Telix’s product candidates, if or when they have been approved; Telix’s ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix’s expenses, future revenues and capital requirements; Telix’s financial performance; developments relating to Telix’s competitors and industry; the anticipated impact of U.S. and foreign tariffs and other macroeconomic conditions on Telix’s business, including as a result of war or other geopolitical conflicts; and the pricing and reimbursement of Telix’s product candidates, if and after they have been approved. Telix’s actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements.

Trademarks and Trade Names. All trademarks and trade names referenced in this press release are the property of Telix Pharmaceuticals Limited (Telix) or, where applicable, the property of their respective owners. For convenience, trademarks and trade names may appear without the ® or ™ symbols. Such omissions are not intended to indicate any waiver of rights by Telix or the respective owners. Trademark registration status may vary from country to country. Telix does not intend the use or display of any third-party trademarks or trade names to imply any affiliation with, endorsement by, or sponsorship from those third parties.

©2026 Telix Pharmaceuticals Limited. All rights reserved.

BIRMINGHAM, Ala., July 20, 2026 (GLOBE NEWSWIRE) — ServisFirst Bancshares, Inc., (NYSE: SFBS) (“ServisFirst”), the holding company for ServisFirst Bank, today announced that its Board of Directors declared a two-for-one common stock split in the form of a stock dividend. The stock dividend will be payable August 20, 2026 to stockholders of record as of August 5, 2026. Holders of ServisFirst’s common stock as of the record date will receive one additional share for every share held on the record date of August 5, 2026.

As a result of the stock split, the total number of shares of common stock outstanding will increase from approximately 54.7 million to approximately 109.3 million. The additional shares of common stock are expected to be distributed on or about August 20, 2026 by ServisFirst’s transfer agent, Computershare, and begin trading on a post-split basis on or about August 21, 2026.

About ServisFirst Bancshares, Inc.

ServisFirst Bancshares, Inc. is a bank holding company based in Birmingham, Alabama. Through its subsidiary ServisFirst Bank, ServisFirst Bancshares, Inc. provides business and personal financial services from locations in Alabama, Florida, Georgia, North and South Carolina, Tennessee, Texas and Virginia. Through the Bank, we originate commercial, consumer and other loans and accept deposits, provide electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services and provide correspondent banking services to other financial institutions. ServisFirst Bancshares, Inc. files periodic reports with the U.S. Securities and Exchange Commission (SEC). Copies of its filings may be obtained through the SEC’s website at www.sec.gov or at www.servisfirstbank.com.

More information about ServisFirst Bancshares, Inc. may be obtained over the Internet at www.servisfirstbank.com or by calling (205) 949-0302.

CONTACT: ServisFirst Bank
Davis Mange (205) 949-3420
[email protected]

New York, New York, July 20, 2026 (GLOBE NEWSWIRE) — DT Cloud Star Acquisition Corporation (Nasdaq: DTSQU, DTSQ, DTSQR) (the “Company”) a newly organized blank check company incorporated in the Cayman Islands as a business company, today announced that on July 15, 2026, it received a delist determination letter (the “Delist Determination Letter”) from the Listing Qualifications Staff (“Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that unless the Company requests an appeal of this determination by July 22, 2026, trading of the Company’s will be suspended at the opening of business on July 24, 2026, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market. The Company has timely submitted its hearing request, which will stay the suspension.

On January 15, 2026 the Company was notified by Staff that based on its Market Value of Listed Securities (“MVLS”) for the period from November 21, 2025 to January 6, 2026, the Company no longer met the continued listing requirement of Nasdaq under Listing Rule 5450(b)(2)(A), to maintain a minimum MVLS of $50,0000,000. In accordance with Listing Rule 5810(c)(3)(C), Nasdaq provided the Company with a compliance period of 180 calendar days, or until July 14, 2026, in which to regain compliance with Nasdaq continued listing requirement.

On July 15, 2026, the Company received the Delist Determination Letter notifying that it had not regained compliance with Listing Rule. Accordingly, its securities will be delisted from The Nasdaq Global Market. In that regard, unless the Company requests an appeal of this determination by July 22, 2026, trading of the Company’s will be suspended at the opening of business on July 24, 2026, and a Form 25-NSE will be filed with the SEC, which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market.

Additionally, on April 6, 2026, the Company was notified by Staff that it did not comply with the minimum 400 total shareholders requirement for continued inclusion under Nasdaq Listing Rule 5450(a)(2). Based on the review of materials submitted by the Company on May 29, 2026, Nasdaq granted the Company’s request for an extension until October 5, 2026 to regain compliance with this requirement. Pursuant to Listing Rule 5810(C)(4)(d)(2), the Company is no longer eligible for the terms of extension. This matter serves as an additional and separate basis for delisting the Company’s securities from The Nasdaq Stock Market.

About DT Cloud Star Acquisition Corporation

The Company is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on industries that complement its management team’s background. The Company is led by Mr. Sam Zheng Sun, the Company’s Chief Executive Officer, and Mr. Kenneth Lam, the Company’s Chief Financial Officer.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the compliance with Nasdaq rules and the hearing request. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s annual report on Form 10-K filed with the Securities and Exchange Commission on March 25, 2026. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

CONTACT:

Sam Sun. Email: [email protected]