QUEBEC CITY--(BUSINESS WIRE)--Aug 14, 2023--

Kobo Resources Inc. ("Kobo” or the "Company") (TSX.V: KRI) is pleased to announce that it has completed initial drilling at its Kossou Gold Project (“Kossou”) located in Cote d’Ivoire, West Africa with 5,887 metres (“m”) drilled in 53 reverse circulation (“RC”) drill holes in under five weeks. Drilling has successfully confirmed significant gold mineralisation at the Road Cut Zone and additional strong gold mineralisation within the Jagger Zone. Further exploration has elevated the Kadie Zone to drill status. All drill assay results have been received and reported in this release.

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Figure 1: Road Cut Zone Drill Collar Positions and Key Results (Graphic: Business Wire)

Program Highlights

• Road Cut Zone drilled over a strike of 850 m including KRC022 returning 8 m at 3.18 g/t Au and KRC044 returning 13 m at 2.10 g/t Au
• Jagger Zone has been drilled over 1,400 m strike extent with mineralisation intersected in every hole and KRC015 returning 6 m at 4.31 g/t Au, including 2 m at 8.42 g/t Au
• Kadie Zone, strong, well-defined gold in soil anomalies over a total of 750 m combined strike extent has been elevated to drill target for next program

Edward Gosselin, CEO and Director of Kobo commented: “Following the completion of our maiden drill program, both the Jagger Zone and the Road Cut Zone have yielded excellent gold results to-date. Additionally, we are now elevating the Kadie Zone to drill target status as we continue to expand our detailed soil geochemical program.” He continued: “The geological team delivered these results without incident in less than five weeks, and I am extremely pleased with the performance of the entire Kobo team during the course of this program. Having identified multiple shear zones with gold mineralisation, we are more convinced than ever of the project's potential value and look forward to fully evaluating the potential of Kossou through additional work. Currently, we are reviewing all results and planning for our next drilling program, which we anticipate will commence in the fall.”

Road Cut Zone

The Company completed 1,699 m of RC drilling in 13 holes and has defined broad zones of gold mineralisation with high grade sections hosted within sheared and silicified volcanic units over a strike length of 850 m. Gold mineralisation has been confirmed in clearly defined zones to a depth of 80 m below surface. There remains a gap of 500 m between holes KRC051 (5 m at 3.27 g/t Au) and KRC044 (9 m at 2.94 g/t Au) that is underlain by a strong gold soil geochemical anomaly that remains a primary drill target for the future. See Figure 1 for drill collar positions and key results and Table 1 for full drill results.

• KRC022 - 8 m at 3.18 g/t Au
• KRC041 - 10 m at 1.33 g/t Au
• KRC040 - 12 m at 1.49 g/t Au
• KRC044 - 13 m at 2.10 g/t Au, including 9 m at 2.94 g/t Au and 5 m at 4.48 g/t Au, including 2 m at 10.41 g/t Au and a separate interval of 3 m at 3.16 g/t Au
• KRC051 – 5 m at 3.27 g/t Au, including 2 m at 4.89 g/t Au

Jagger Zone

The Company completed a total of 25 RC drill holes for 3,164 m, mainly south of the results reported previously ( see release July 24, 2023 ) and has now recorded gold mineralisation in drilling over a total strike extend of 1,400 m. Jagger continues to show broad zones of gold mineralisation with higher grade sections within a strong north-south shear zone. Results from KRC047 and KRC048 have confirmed gold mineralisation 200 m north of the previously reported results. This gap is underlain by a strong gold soil geochemical anomaly and will be targeted for future drilling. See Figure 2 for drill collar positions and key results and Table 1 for full drill results.

• KRC015 - 6 m at 4.31 g/t Au
• KRC018 – 7 m at 1.47 g/t Au, including 2 m at 4.17 g/t Au
• KRC047 – 6 m at 1.67 g/t Au and 5 m at 1.01 g/t Au
• KRC048 – 5 m at 1.20 g/t Au

Kadie Zone

Recent infill soil sampling at the Kadie Zone has identified three strong geochemical anomalies 200 m, 400 m, and 600 m west of the main Jagger Zone with individual soils sampling up to 1,620 ppb, 6,010 ppb and 1,620 ppb respectively. Recent prospecting and mapping has identified surface samples up to 7.42 g/t Au in mineralisation similar to that noted in trench KTR028 ( see previous press release June 7, 2023 ). The total combined strike extend of these anomalies totals approximately 750 m (see Figure 3).

Contact Zone

Results of the two reconnaissance drill lines (15 RC drill holes for 1,024 m) failed to intersect significant gold mineralisation but has identified the important contact between the metasediments and the volcanic package. The Company believes there is still potential to the northwest along the contact where gold has been identified in silicified sediments and local small-scale mining has been active in the past.

Table 1: Summary of Drill Results

An accurate dip and strike and controls of mineralisation are unconfirmed at this time and the true width of mineralisation is unconfirmed at this time. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances.

Sampling, QAQC, and Analytical Procedures

One meter composite samples of RC chips were sent to the MSA Labs facility in Yamoussoukro where the entire sample was dried and split into 500 g subsample for analysis (prep code CRU-CPA). Sample splits were then analysed for gold using PhotonAssay TM (CPA-Au1). QAQC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample (split of the 1 m original sample) every 20 samples. All QAQC control samples returned values within acceptable limits.

Review of Technical Information

The scientific and technical information in this press release has been reviewed and approved by Paul Sarjeant, P.Geo., who is a Qualified Persons as defined in National Instrument 43-101. Mr. Sarjeant is the President and Chief Operating Officer and Director of Kobo.

About Kobo Resources Inc.

Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Cote d’Ivoire, one of West Africa’s most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company’s 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region’s largest gold mines with established processing facilities.

The Company is drilling to unlock the potential size and scale of Kossou within 9+ km strike length of highly prospective gold in soil geochemical anomalies with excellent rock and trench sampling results. The Company’s 2023 exploration plan calls for over 8,000 meters of reverse circulation drilling with an immediate goal of defining significant near surface zones of gold mineralisation. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience.

Kobo’s common shares trade on the TSX Venture Exchange under the symbol "KRI”. For more information, please visit www.koboresources.com.

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement on Forward-looking Information:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230814802507/en/

CONTACT: For further information, please contact:

Edward Gosselin

Chief Executive Officer and Director

1-418-609-3587

ir@kobores.com

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES

SOURCE: Kobo Resources Inc.

Copyright Business Wire 2023.

PUB: 08/14/2023 06:30 AM/DISC: 08/14/2023 06:32 AM

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