Mr. Edward Gosselin reports

KOBO RESOURCES COMMENCES 2024 DIAMOND DRILL PROGRAM AT ITS 100%-OWNED KOSSOU GOLD PROJECT

Kobo Resources Inc. has commenced an approximately 4,000-metre to 5,000 m diamond drilling program as part of the first phase of the company's 2024 exploration program at its 100-per-cent-owned Kossou gold project located in Ivory Coast, West Africa.

The company's 2024 drill program is designed to follow up on results from its inaugural 2023 exploration program, which identified multiple shear zones of gold mineralization in three key targets with a combined strike length of over four kilometres. The company's 2023 exploration program consisted of 5,887 m (53 holes) of reverse circulation (RC) drilling and approximately 5,400 m (93 trenches) of trenching, which outlined significant gold mineralization at the Jagger zone, Road Cut zone and Kadie zone.

The company has initiated its first phase of diamond drilling to gain further understanding of the detailed structural controls to gold mineralization at Kossou, as well as the association between the strong, through-going north-south shear zones, and the intersection of those structures with high-grade west-northwest-east-southeast and east-west quartz veins (V2 veins), as documented by Dr. Ghislain Tourigny in the detailed structural report provided to the company in October, 2023 (see press released dated Nov. 1, 2023). The company's structural report outlined a significant 300 m to over 400 m wide deformation and alteration zone mapped over a three-plus-kilometre strike extent south from the Road Cut zone, situated in the hangingwall of a crustal-scale first-order fault identified as the Contact zone fault. The study also indicates the system contains two styles of gold mineralization, including: (1) a replacement-style composed of disseminated sulphides and carbonates in highly silicified basalts; and (2) late quartz-carbonate veins that obliquely crosscut the silicified mineralization and shear zones. Significant gold mineralization occurs within both styles of mineralization and further geological work indicates this structural corridor extends south through the Jagger zone, over 3.5 kilometres, suggesting the presence of a significant mesothermal gold system at Kossou. The Road Cut zone, Jagger zone and Kadie zone are believed to host similar structure and mineralizing controls.

Two thousand twenty-four drill program overview -- first phase:

• Jagger zone: The company is planning for approximately 1,200 m of drilling (five to six holes) at the Jagger zone, which represents the largest and strongest soil geochemical anomaly yet discovered at Kossou. The goal of the initial phase of diamond drilling at the Jagger zone is to further confirm the structural interpretation of the zone. In 2023, the company completed a total of 25 RC drill holes for 3,164 m and has recorded broad zones of gold mineralization within a north-south major shear structure, with high-grade sections associated with a crosscutting V2 vein system over a total strike extent of 1,400 m. Significant gold mineralization was intersected in each hole drilled during the company's 2023 drill program, including key drill intercepts:
  • KRC002: 20 m at 1.87 grams per tonne (g/t) gold (Au), including three m at 6.28 g/t Au;
  • KRC011: 19 m at 2.03 g/t Au, including six m at four g/t Au;
  • KRC009: 48 m at 1.03 g/t Au, including 15 m at 1.70 g/t Au.
• Road Cut zone: The company is planning for approximately 2,400 m (15 to 16 holes) of drilling at the Road Cut zone with a goal delineating the 500 m gap identified between KRC044 and KRC051 (see press release dated Jan. 15, 2024), which is underlain by a strong gold soil geochemical anomaly, and further defining the structural interpretation of the zone. The company completed 1,699 m of RC drilling in 13 holes in 2023 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. Key drill intercepts from the 2023 RC drill program on the Road Cut zone include:
  • KRC044: 13 m at 2.10 g/t Au, including two m at 10.41 g/t Au;
  • KRC022: Nine m at 3.18 g/t Au, including two m at 8.38 g/t Au.
• Kadie zone: The company plans to drill approximately 1,400 metres (eight to 10 holes) at the Kadie zone, an exciting and undrilled geochemical anomaly. Previously completed infill soil sampling identified three strong southeast-trending geochemical anomalies totalling a one-plus km strike length located just west of the main Jagger zone, with structural and lithological characteristics similar to those found at the prospective Jagger gold-bearing shear zone. Significant trench results previously reported include:
  • KTR036: 22 m at 2.73 g/t Au, including four m at 12.92 g/t Au;
  • KTR063: 13 m at 2.80 g/t Au, including one m at 31.30 g/t Au;
  • KTR065: Seven m at 4.78 g/t Au, including one m at 21.70 g/t Au.
• Diamond drill holes at all targets will be oriented approximately 70 degrees to better intersect the north-south shear zones and the high-grade V2 vein sets, which is now understood to contain significant gold within the system, as identified from surface trenching and detailed mapping.
• Additional trenching, geological mapping and soil geochemistry will be completed throughout the company's 2024 drill program.

Edward Gosselin, chief executive officer and director of Kobo, commented: "Due to the great success of our first drill program completed in Q3 2023, we have been very keen to commence the second pass of drilling at Kossou. In the initial drilling program undertaken in 2023, significant amounts of gold mineralization were intersected in almost all holes, which is virtually unprecedented. After making significant discoveries at our three key and highly prospective targets -- the Jagger zone, Road Cut zone and Kadie zone -- we look forward to completing our second drilling program at Kossou."

He continued: "Our objective is to rapidly advance these key targets by testing our growing understanding of the structure and controls to gold mineralization at our key targets. We are excited to drill a significant portion of the soil geochemical anomaly at the Road Cut zone that was previously inaccessible, and to complete the first drill holes at the Kadie zone, which appears to demonstrate excellent exploration potential. We are eager to build upon our current knowledge at Kossou with approximately 4,000 to 5,000 metres of diamond drilling allocated to the project in Q2 2024, and we will continue an extensive surface exploration program under way that includes trenching, prospecting, mapping and soil sampling."

Launch of interactive 3-D corporate investor presentation

The company is pleased to announce the launch of an interactive 3-D corporate presentation, which will provide all stakeholders with a deeper understanding of the Kobo story through a more immersive experience. Powered by Vrfy, this presentation offers investors a unique and engaging way to delve deeper into Kobo's compelling investment thesis through interactive slides, gaining a comprehensive overview of the company's investment proposition. The company invites investors to explore its updated investor presentation on-line.

Sampling, quality assurance/quality control (QA/QC) and analytical procedures

All samples were analyzed at the SGS facility in Yamoussoukro using a 50-gram fire assay with an AA (atomic absorption) finish (FAA505 with prep code PRP87). All QA/QC control samples returned values within acceptable limits. All trenches are subhorizontal and reported intercepts are not expressed as true width. Previously reported RC drill intercepts are reported as downhole lengths as insufficient work has been completed to determine true width of mineralization.

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 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. 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 nine-plus km strike length of highly prospective gold-in-soil geochemical anomalies, with excellent rock and trench sampling results. The company completed approximately 6,000 m of RC drilling and approximately 5,400 m of trenching in 2023, and is planning on additional diamond drilling and trenching in 2024. Significant gold mineralization has been identified at three main targets within a 300 m wide, three-plus km long, pervasively altered structural corridor defining a potentially large mesothermal gold system. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience.

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