Mr. Scott Ackerman reports

KUBERA GOLD CORP. COMPLETES INITIAL PUBLIC OFFERING AND LISTS ON THE TSX VENTURE EXCHANGE

Kubera Gold Corp. has completed its initial public offering of three million common shares in the capital of the company at a price of 25 cents per common share for gross proceeds of $750,000, pursuant to a final prospectus of the company dated Dec. 18, 2023, and filed in each of the provinces of British Columbia, Alberta and Ontario. On closing of the offering, a total of 9,591,920 common shares were issued and outstanding, of which 1.2 million common shares are currently held in escrow pursuant to National Policy 46-201 -- Escrow for Initial Public Offerings, as disclosed in the prospectus.

The net proceeds of the Offering are expected to be used by the Company for exploration expenditures on its Dash Lake project (the "Dash Lake Project") which covers an area of approximately 815 hectares and is located approximately 90 kilometres north of the town of Fort Frances, Ontario, within the Kenora Mining Division, and for general working capital purposes.

Pursuant to an agency agreement dated December 18, 2023 between the Company and Research Capital Corporation (the "Agent"), and in connection with the completion of the Offering, the Company granted to the Agent 180,000 Common Share purchase warrants (each, a "Agent's Warrant"), with each Agent's Warrant entitling the Agent to acquire one Common Share at a price of $0.25 per Common Share for a period of 36 months from the closing of the Offering ("Closing"). In addition, the Agent received a cash commission of $45,000, representing 6% of the aggregate gross proceeds of the Offering, and a corporate finance fee of $30,000 plus applicable taxes.

The TSX Venture Exchange ("TSXV") has accepted the Company's listing application of the Common Shares as a Tier 2 Mining Issuer ("Listing"). The Common Shares will commence trading on the TSXV at market open on March 13, 2024, under the trading symbol KBRA. The Company's CUSIP is 50116K101 and ISIN is CA50116K1012.

Immediately following Closing, the Company granted an aggregate of 800,000 stock options (the "Options") to directors, officers and a consultant of the Company permitting them to acquire up to an aggregate of 800,000 Common Shares. Each Option is exercisable to acquire one Common Share at a price of $0.25 until March 11, 2029.

Early Warning Disclosure

Prior to Closing, Scott Ackerman, President, CEO, Corporate Secretary and Director of the Company, with an address located at 1837 128th Street, Surrey, British Columbia, owned and controlled 1,120,000 Common Shares representing approximately 16.99% of the outstanding Common Shares on a non-diluted basis. Following Closing and the grant of Options, Scott Ackerman owns and controls 1,120,000 Common Shares, acquired at a price of $0.0125 per Common Share, and 470,000 Options, representing approximately 11.68% of the outstanding Common Shares on a non-diluted basis and approximately 15.80% of a partially diluted basis assuming exercise of his Options.

Prior to Closing, The Emprise Special Opportunities Fund (2017) Limited Partnership ("LP2017"), with an address located at 1600 - 609 Granville Street, Vancouver, British Columbia, owned and controlled 1,850,000 Common Shares, acquired at a price of $0.07 per Common Share, representing approximately 28.06% of the outstanding Common Shares on a non-diluted basis. Following Closing, LP2017 owns and controls 1,850,000 Common Shares, representing approximately 19.29% of the issued and outstanding Common Shares on an undiluted basis.

The Company has been advised that the securities noted above were acquired by Scott Ackerman and LP2017 for investment purposes, and neither have any present intention to acquire further securities of the Company, although they may, in the future, acquire or dispose of securities of the Company through the market or otherwise, as circumstances or market conditions warrant.

To obtain a copy of the early warning reports filed under applicable Canadian provincial securities legislation, please go to the Company's profile on SEDAR+ or please reach out to Scott Ackerman at 778-331-8505.

For further information about the Company, the Offering and the Dash Lake Project, please see the Prospectus, which is available under the Company's issuer profile on SEDAR+.

About the Company

Kubera Gold Corp. is a mineral exploration company engaged in the identification, acquisition, and exploration of mineral projects. The Company holds an option to acquire a 100% interest in and to the Dash Lake Project, which consists of mineral claims covering nearly 815 hectares approximately 90 km north of the town of Fort Frances, Ontario, in the Kenora Mining Division.

We seek Safe Harbor.