Mr. Terry Tucker reports

KALO GOLD CONFIRMS MINERALIZED BEDROCK AT WAINIKORO WITH FIRE ASSAYS UP TO 8.78 G/T AU, FIJI

Kalo Gold Corp. has released fire assay results confirming widespread gold mineralization in both surface outcrop and bedrock at Wainikoro on its 100-per-cent-owned Vatu Aurum project, Fiji.

Laboratory fire assays validate the company's previously reported detectORE field screening (see news release dated June 9, 2026), generally matching or exceeding the field estimates. Trench sampling confirms that the gold-bearing surface occurrences are sourced from mineralized bedrock, significantly strengthening the company's geological interpretation of the Wainikoro epithermal system.

The certified assays form another key component in Kalo's systematic exploration strategy, progressively refining the geological model at Wainikoro ahead of planned ground geophysical surveys designed to define the subsurface architecture of the mineralized system.

Highlights

• Certified fire assays confirm gold mineralization across Wainikoro, with surface samples returning up to 8.78 grams per tonne Au (gold), together with additional assays of 4.78 g/t Au, 4.44 g/t Au, 3.41 g/t Au and 2.03 g/t Au.
• Gold confirmed in bedrock, with trench sampling returning selective point samples up to 2.93 g/t Au and continuous channel sampling averaging 0.28 g/t Au over 14 metres, demonstrating continuity of mineralization beneath surface exposures.
• Independent laboratory assays validate detectORE field screening, with laboratory grades equalling or exceeding field estimates for the majority of reconciled samples.
• Multiple styles of mineralization confirmed, including chalcedonic quartz veins, silicified volcanic rocks and hydrothermal breccias developed along the Nubu Graben structural corridor.
• Geological confidence continues to increase, with each phase of exploration refining the company's understanding of the Wainikoro low-sulphidation epithermal gold system.
• Ground geophysical surveys scheduled to commence this month will provide the next layer of geological information by defining the subsurface geometry of the mineralized system and supporting future target prioritization.

CEO commentary

Terry L. Tucker, PGeo, president and chief executive officer of Kalo Gold, commented: "These certified fire assay results provide independent confirmation of the gold identified through our detectORE field screening and, importantly, demonstrate that mineralization extends into bedrock beneath the surface occurrences we have been mapping. That substantially increases our confidence in the geological model we are developing at Wainikoro.

"Each phase of exploration is building on the last -- from mapping and geochemistry, to trenching and now laboratory confirmation -- allowing us to progressively reduce geological uncertainty before advancing to the next phase of work. The upcoming CSAMT, induced polarization and gravity surveys will add another important data set by helping us understand the geometry of the mineralized system beneath surface, enabling us to prioritize future exploration with much greater confidence."

Surface traverse fire assay results

Thirty-eight rock chip, float and in situ vein samples collected during systematic surface traverses at Wainikoro were submitted to ALS Ltd. (Australia) for certified fire assay. Results include that shown in the attached table.

These results confirm widespread gold mineralization hosted within chalcedonic quartz veins, silicified volcanic rocks and hydrothermal breccias across Wainikoro. Eleven separate surface samples returned greater than 0.5 gram per tonne Au, indicating that mineralization is distributed throughout the target area rather than being restricted to isolated occurrences.

Laboratory fire assays generally equalled or exceeded the previously reported detectORE screening values, providing independent validation of the company's field-based targeting approach.

Trench fire assay results

Continuous channel sampling and selective point sampling from trenches TR26-009 to TR26-013 confirm that the mineralization identified at surface extends into bedrock. The highest selective point assays returned 2.93 g/t Au, 1.96 g/t Au and 1.38 g/t Au, while continuous channel sampling from trench TR26-011 averaged 0.28 g/t Au over 14 metres. Although selective point samples are not representative of the overall structure, the trench results demonstrate that the surface mineralization is sourced from an active hydrothermal system rather than isolated transported material.

Geological interpretation

The certified fire assay results provide independent laboratory confirmation that gold mineralization occurs within multiple chalcedonic quartz veins, silicified volcanic units and associated hydrothermal breccias across Wainikoro.

Importantly, gold has now been confirmed in both surface outcrop and underlying bedrock, demonstrating that the surface anomalies are sourced from mineralized structures within the volcanic sequence.

Together with the company's recent structural interpretation, these results strengthen the interpretation that Wainikoro represents the preserved upper levels of a structurally controlled low-sulphidation epithermal gold system developed along the Nubu Graben corridor. Confirmation of mineralized bedrock beneath the surface expressions substantially improves confidence in the continuity of the system and continues to refine the company's geological model.

Certified fire assay results for the samples reported in the company's July 8, 2026, news release remain pending and will be reported upon receipt.

Next steps

The company has engaged Fender Geophysics Pty. Ltd. to complete controlled-source audio-frequency magnetotellurics (CSAMT), induced polarization (IP) and gravity surveys across Wainikoro, scheduled to commence during the week of July 21, 2026, subject to equipment importation and crew scheduling.

These surveys represent the next stage in Kalo's systematic exploration strategy and are intended to define the subsurface geometry of the mineralized system by integrating geological mapping, geochemistry, trenching and structural interpretation into a single exploration model. The results will further refine target prioritization and guide subsequent phases of exploration across Wainikoro.

Technical notes on detectORE gold screening results

This news release references gold (Au) values reported in detectORE units (dU), generated using the detectORE field-based gold analysis system developed by Portable PPB Pty. Ltd. dU values represent a semi-quantitative, part-per-billion-equivalent measure of leachable gold response and are used for exploration screening purposes only. They are not a direct measure of total gold content and are not equivalent to certified fire assay results. Accordingly, dU results are not used to estimate mineral resources or mineral reserves.

Internal validation by the company in 2025 on 824 Vatu Aurum samples showed a strong correlation between dU and certified fire assay (Pearson R equals 0.98 for drill core; R equals 0.96 for trench samples). Soil dU has not been directly validated against fire assay, and the relationship is variable and influenced by lithology, mineralogy and sample preparation.

dU values obtained from surface rock chip and float samples have likewise not been validated against fire assay. As demonstrated by the results in this news release, individual rock chip and float dU values may materially overstate or understate the certified fire assay grade of the same sample owing to coarse-gold (nugget) effects and the heterogeneous distribution of gold in vein material.

Where gold is hosted within sulphide minerals, the on-site crushing and leaching process of the detectORE system does not fully liberate all gold prior to analysis, resulting in dU values that underestimate fire assay grades in these intervals. The company further cautions that detectORE readings can be affected by the presence of mercury, which may over-report the gold response. Any approximate equivalence (for example, approximately 1,000 dU equals approximately one gram per tonne Au) is for contextual reference only and must not be relied upon for grade estimation. See the company's news release dated Feb. 24, 2026, for full details.

Quality assurance/quality control

Gold assays reported in this news release were determined by ALS Ltd. (Australia) using method Au-AA25 (30 g fire assay, AAS Finish). ALS is accredited by NATA to ISO/IEC 17025 and is independent of the company and the qualified person. Certified reference materials, blanks, pulp duplicates and preparation duplicates were inserted into the sample stream at regular intervals and have been reviewed by the qualified person.

Qualified person

The technical information in this news release was prepared, reviewed and approved by Andrew Randell, PGeo, chief executive officer and principal geoscientist of SGDS-Hive, technical director of the Vatu Aurum project, and a qualified person as defined by NI 43-101. Mr. Randell is independent of the company and has verified the data disclosed, having conducted multiple site visits (2023 to 2026) and direct supervision of the exploration program.

About Kalo Gold Corp.

Kalo Gold is a gold exploration company advancing the 100-per-cent-owned Vatu Aurum project (special prospecting licences 1511 and 1464), a 367-square-kilometre land package on Vanua Levu, Fiji, located in a preserved volcanic back-arc setting. The company's work is focused on a northeast-trending corridor of low-sulphidation epithermal gold targets. Exploration across the corridor -- including at the flagship Aurum Prime area and Wainikoro -- has defined multiple structurally controlled gold targets supported by drilling, trenching, soil geochemistry, structural mapping and airborne geophysics. The company is systematically advancing high-confidence targets toward potential discovery.

Kalo Gold is headquartered in Vancouver, B.C., and is listed on the TSX Venture Exchange (KALO), the OTCID Market (KLGDF) and the Frankfurt Stock Exchange (9M51).

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