Mr. Frank Ricciuti reports

KOBO RESOURCES STRENGTHENS ITS BOARD OF DIRECTORS WITH THE APPOINTMENT OF BRIAN SCOTT: FORMER VP OF GEOLOGY & TECHNICAL SERVICES AT B2GOLD CORP.

Kobo Resources Inc. has appointed Brian Scott to its board of directors and Charles Spector has resigned.

Frank Ricciuti, chairman of Kobo, commented: "As Kobo begins a phase of growth with its exploration program in 2024, particularly the 5,000-metre diamond drill program planned for Q1 2024, the addition of Brian to Kobo's board of directors promises to greatly benefit the company, its employees and shareholders. Brian has gathered extensive exploration and resource estimation modelling experience during his distinguished mining career spanning over 35 years. During this time, his expertise was instrumental in the success of various large-cap gold companies such as B2Gold Corp. and Bema Gold Corp. (acquired by Kinross Gold in 2006), which will complement the company's efforts to move its 100-per-cent-owned Kossou gold project forward."

He continued: "On behalf of the entire board and management, I would like to thank Charles for his many contributions during his tenure at Kobo. Charles was instrumental in helping the company achieve its going-public transaction and made the process as seamless as possible. Charles will remain as an adviser to the board and we wish him continued success with his law practice in the future."

"The Kossou gold project has shown to date significant promise and I am confident that my experience in advancing similar gold projects will serve the board well in developing Kobo into a producing gold company in the future," commented Mr. Scott. "I am delighted to join Kobo's board of directors and look forward to supporting the company in the years to come."

Mr. Scott is a geologist with over 35 years of exploration and mine development experience across a wide variety of deposit types and political jurisdictions throughout the world. His experience encompasses a wide range of deposit types from high Andes porphyries (Cerro Casale and Refugio) to orogenic gold deposits (Venezuela, Canada, Finland, West Africa, Namibia, Uruguay and South Africa) and epithermal deposits (Russia, Philippines and Central America). During his 30-year career with Bema Gold Corp. (acquired by Kinross Gold) and B2Gold Corp., he engaged in all phases of exploration, development and mining within the Bema Gold/B2Gold portfolio of properties. During this period, his responsibilities included providing geological guidance on exploration programs. He also managed B2Gold's technical services group and oversaw its in-house technical services team's geologic and resource estimation models. Mr. Scott retired from B2Gold at the end of 2023 where he served as vice-president of geology and technical services from 2015 to 2023. Prior to that, Mr. Scott was chief geologist for B2Gold from 2007 to 2014 and chief geologist for Bema Gold from 1996 to 2007. Mr. Scott holds a bachelor of science (honours) degree in geology from Lakehead University in Ontario.

Kobo Resources to exhibit at PDAC 2024

The company announces that it will be exhibiting at the annual 2024 Prospectors & Development Association of Canada (PDAC) convention at the Metro Toronto Convention Centre (MTCC). The company invites interested PDAC attendees to visit its booth No. 3,235 in the Investors Exchange, South Building, during the in-person event from Sunday, March 3 to Wednesday, March 6, 2024.

Management will provide details of its exploration program at its 100-per-cent-owned Kossou gold project in 2023, following an initial phase of drilling and continuing trenching activities that have yielded significant gold results across three distinct targets. Further, the company will provide an overview of its exploration plans in the year ahead, beginning with a fully funded 5,000-metre drilling program in Q1 2024.

PDAC is the world's premier mineral exploration and mining convention and brings together professionals, governments, companies and organizations from around the world to explore the latest advancements in the mining industry through a wide range of programming, courses and networking events.

Investors interested in attending the PDAC can register on-line. Kobo invites attendees to visit its booth where they will have the opportunity to engage directly with the company's management team and learn more about Kobo's recent exploration efforts and upcoming plans.

Other corporate matters

On Dec. 1, 2023, the company merged with its subsidiary, Boko Resources Inc., in order to simplify its corporate structure, reporting obligations and reduce general and administrative costs.

Furthermore, effective in 2023, the company changed its financial year-end from Dec. 31 to March 31, 2024, to align the company's year-end with that of its operating subsidiary and to facilitate financial reporting and the preparation of corporate tax returns. The change in year-end resulted in the company filing a one-time, 15-month transition year covering the period of Jan. 1, 2023, to March 31, 2024.

Grant of options

The company announces that it has granted 300,000 stock options to purchase common shares of the company to Mr. Scott, following his appointment as director of the company, and 50,000 stock options to purchase common shares of the company to Carmelo Marrelli, as chief financial officer of the company, pursuant to the company's 9.5-per-cent fixed stock option plan. Such options are exercisable into common shares of the company at an exercise price of 35 cents per common share for a period of 10 years from the date of grant as per the company's stock option plan. These options will vest in equal tranches of 25 per cent every three months following their grant date.

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. 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.

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