Mr. Edward Gosselin reports

KOBO RESOURCES BEGINS 2023 DRILL PROGRAM AT ITS 100%-OWNED KOSSOU GOLD PROJECT

Kobo Resources Inc. has commenced its first-phase drill program at the company's 100-per-cent-owned Kossou gold project in Ivory Coast, one of West Africa's most prolific gold districts.

A total of 8,000 metres of reverse circulation (RC) drilling is planned this year, which will be conducted in two phases. The drilling will initially target three priority zones -- the Jagger zone, the Road Cut zone and the Contact zone -- based on the previously reported high-grade gold mineralization intersected in rock and trench samples.

The first phase program will consist of 45 inclined boreholes ranging between 50 m and 230 m depth, totalling 4,250 m. A total of 23 holes will be completed at Jagger (2,650 m), 10 holes at the Road Cut zone (1,000 m) and 12 holes (600 m) in the Contact zone.

The second phase RC drilling, totalling 3,750 m, will be completed after a short pause in drilling in order to evaluate the results from phase 1 and to plan the construction of additional drill platforms at the Jagger South zone, and at other targets generated by the company.

Edward Gosselin, chief executive officer and director of Kobo, commented: "With the completion of the road access and drill platforms, we are pleased to have started our maiden drill program at the Kossou gold project, with the immediate objective of defining the strike and down-dip extensions of the gold mineralization identified on surface. The recently reported high-grade intersection averaging 29 m at 6.42 g/t Au [grams per tonne gold] in trench KTR028 at Jagger zone represents our primary target, and we look forward to delineating a significant gold-bearing shear structure in this area."

He continued: "The Road Cut zone and Contact zone remain highly prospective targets at Kossou with significant potential for additional gold-bearing structures to be discovered. As part of our continuing exploration program, we are currently completing regional and detailed geological mapping and geochemical sampling programs across several new target areas."

Jagger zone: Primary target for 2023 exploration program following recent trench results

The Jagger zone is represented by a major, well-defined north-south-trending shear zone which is defined by the largest and strongest soil geochemical anomaly discovered at Kossou to date. The company has confirmed the existence of strong gold mineralization through detailed infill soil sampling, geological mapping and trenching. The Jagger shear zone is approximately 1.85 kilometres in strike length, with peak gold-in-soil concentrations up to 112 g/t Au.

Recently released sampling results for trench KTR028 (see press release dated June 7, 2023) intersected several high-grade gold zones. The most westerly zone features 6.42 g/t over 29 m, including subintervals of 18.04 g/t Au over five m, 11.44 g/t over eight m and 5.53 g/t Au over 17 m. The total strike length of the Jagger zone, including untested geochemical anomalies, will be the primary target of the 2023 drill program.

Road Cut zone

The Road Cut zone was initially discovered during early exploration work at Kossou, and lies within another shear zone hosting strongly altered volcanic rocks heavily crosscut by quartz and quartz-carbonate veins/veinlets. The original exposure returned 4.64 g/t Au over 18.2 m in continuous chip samples.

Further rock sampling confirmed grades and expanded the extent of the showing. Gold-in-soil geochemistry indicates that this target can be traced over a strike length of 1.7 kilometres and remains a prime target for drilling in 2023. Recent trenching has exposed a new mineralization that assayed 11.3 g/t Au over four m (KTR003), 8.48 g/t Au over one m (KTR001) and 8.5 g/t Au over 3.4 m (KTR012).

Contact zone

The company considers the Contact zone as being a target with excellent potential for significant gold mineralization, particularly in the area where the Jagger shear zone intersects the contact between metavolcanic and metasedimentary rocks. There has been small-scale artisanal mining of free gold along the shoreline of Lake Kossou in this area, and airborne magnetic data shows the artisanal mining aligns directly above and along and the interpreted geological contact. Recent geological mapping and rock chip sampling have identified grades of 7.1 g/t Au in a sheared metasediment float sample.

Sampling, quality assurance/quality control and analytical procedures

All samples were analyzed at the SGS facility in Yamoussoukro using a 50-gram (g) fire assay with an AA (atomic absorption) finish (FAA505 with prep code PRP87). Samples assaying greater that five g/t Au were resubmitted for fire assay with gravimetric finish (FAG505). Those values were considered final. All QA/QC 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, PGeo, who is a qualified person as defined in National Instrument 43-101. Mr. Sarjeant is the president, chief operating officer and a director of Kobo.

About Kobo Resources Inc.

Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Ivory Coast, one of West Africa's most prolific and developing gold districts, hosting several multimillion-ounce gold mines. The company's 100-per-cent-owned Kossou gold project is located approximately 20 kilometres 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 a nine-plus 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 metres of reverse circulation drilling with an immediate goal of defining significant near-surface zones of gold mineralization. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience.

We seek Safe Harbor.