Mr. Edward Gosselin reports

KOBO RESOURCES INTERSECTS STRONG GOLD MINERALISATION OVER 850 METRE STRIKE EXTENT AT THE ROAD CUT ZONE INCLUDING 13 M AT 2.10 G/T AU AND 8 M AT 3.18 G/T AU

Kobo Resources Inc. has completed initial drilling at its Kossou gold project, located in Ivory Coast, West Africa, with 5,887 metres drilled in 53 reverse circulation (RC) drill holes in under five weeks. Drilling has successfully confirmed significant gold mineralization at the Road Cut zone and additional strong gold mineralization 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.

Program highlights:

• The Road Cut zone has been drilled over a strike of 850 m, including KRC022, returning eight m at 3.18 grams per tonne gold, and KRC044, returning 13 m at 2.10 g/t Au.
• The Jagger zone has been drilled over 1,400 m of strike extent, with mineralization intersected in every hole and KRC015 returning six m at 4.31 g/t Au, including two 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 have been elevated to drill target status for the next program.

Edward Gosselin, chief executive officer 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. 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 mineralization, 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 mineralization, with high-grade sections hosted within sheared and silicified volcanic units over a strike length of 850 m. Gold mineralization 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 (five m at 3.27 g/t Au) and KRC044 (nine m at 2.94 g/t Au) that is underlain by a strong gold-in-soil geochemical anomaly that remains a primary drill target for the future (see an attached table for full drill results).

Highlights:

• KRC022 -- eight 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 nine m at 2.94 g/t Au, and five m at 4.48 g/t Au, including two m at 10.41 g/t Au, and a separate interval of three m at 3.16 g/t Au;
• KRC051 -- five m at 3.27 g/t Au, including two 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 dated July 24, 2023), and has now recorded gold mineralization in drilling over a total strike extent of 1,400 m. Jagger continues to show broad zones of gold mineralization with higher-grade sections within a strong north-south shear zone. Results from KRC047 and KRC048 have confirmed gold mineralization 200 m north of the previously reported results. This gap is underlain by a strong gold-in-soil geochemical anomaly and will be targeted for future drilling (see an attached table for full drill results).

Highlights:

• KRC015 -- six m at 4.31 g/t Au;
• KRC018 -- seven m at 1.47 g/t Au, including two m at 4.17 g/t Au;
• KRC047 -- six m at 1.67 g/t Au and five m at 1.01 g/t Au;
• KRC048 -- five 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 parts per billion, 6,010 ppb and 1,620 ppb, respectively. Recent prospecting and mapping have identified surface samples up to 7.42 g/t Au in mineralization, similar to that noted in trench KTR028 (see previous press release dated June 7, 2023). The total combined strike extent of these anomalies totals approximately 750 m.

Contact zone

Results of the two reconnaissance drill lines (15 RC drill holes for 1,024 m) failed to intersect significant gold mineralization, but have 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.

An accurate dip and strike and controls of mineralization are unconfirmed at this time, and the true width of mineralization is unconfirmed at this time. Drill holes are planned to intersect mineralized zones perpendicular to interpreted targets. All intercepts reported are down-hole distances.

Sampling, quality assurance/quality control and analytical procedures

One-metre composite samples of RC chips were sent to the MSA Labs facility in Yamoussoukro, where the entire sample was dried and split into a 500 g subsample for analysis (preparation code CRU-CPA). Sample splits were then analyzed for gold using PhotonAssay (CPA-Au1). Quality assurance/quality control procedures for the drill program include the insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample (split of the one m original sample) every 20 samples. All quality assurance/quality 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 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 greater than nine km of 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.