Mr. Edward Gosselin reports

KOBO RESOURCES PROVIDES UPDATE ON ITS NON-BROKERED PRIVATE PLACEMENT; ENGAGES INDEPENDENT FIRM TO ESTABLISH KOSSOU'S MAIDEN MINERAL RESOURCE ESTIMATE

Kobo Resources Inc. has extended the closing of its previously announced non-brokered private placement of up to 16,504,128 common shares of the company at a price of 33.5 cents per common share for gross proceeds of up to $5,528,882.89, originally announced on March 23, 2026. The company has received subscription agreements with respect to the offering and now expects to close the offering on the week of April 13, 2026.

As disclosed previously, the company intends to use the net proceeds of the offering to advance continuing drilling and exploration at the Kossou gold project, initiate drilling at the Kotobi permit, and for general corporate and working capital purposes. Further to this update on the expected closing date of the offering, the company is pleased to provide the following update on both projects.

Kossou gold project -- maiden MRE (mineral resource estimate) in process, second drill rig mobilizing

The company has retained an independent firm to prepare a maiden mineral resource estimate (MRE) for its 100-per-cent-owned Kossou in Ivory Coast, with delivery targeted for Q3 2026. The expected MRE represents a significant milestone in the advancement of Kossou toward a defined gold resource, underpinned by over 41,000 metres of diamond drilling completed since 2023 across the Jagger, Road Cut and Kadie zones.

To accelerate drilling ahead of the MRE, the company expects to mobilize a second drill rig to site within the next 10 days, increasing the pace of drilling across these active and prospective target areas.

Kotobi permit -- equipment mobilized, drilling contract expected

The company has also mobilized drill pad preparation equipment to the Kotobi permit. Work is under way to establish a base camp for company and drilling contractor personnel, a temporary core handling and cutting facility, and a maintenance area. A drilling contract is expected to be signed next week, with drilling to follow on preidentified targets shortly thereafter.

Edward Gosselin, chief executive officer and director of Kobo, commented: "With the private placement expected to close next week, we will have the capital in place to execute on a busy and important period for the company. Retaining an independent firm for our maiden MRE is a milestone we have been working toward since we began drilling at Kossou in 2023, and having a second drill rig on site within days will ensure we continue to add to that resource database while the estimate is being prepared. At Kotobi, we are moving quickly. Equipment is on the ground, the camp is being established, and we expect to have a drilling contract signed next week. It is a very active time for Kobo on both fronts, and we look forward to providing updates as our exploration programs progress."

About Kobo Resources Inc.

Kobo Resources is a growth-focused gold exploration company with a compelling gold discovery in Ivory Coast, one of West Africa's most prolific 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.

With over 41,000 metres of diamond drilling, nearly 5,887 metres of reverse circulation (RC) drilling, and 7,100-plus metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its gold project. Exploration has focused on multiple high-priority targets within a nine-plus km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralization at the Jagger, Road Cut and Kadie zones. The latest phase of drilling has further refined structural controls on gold mineralization, setting the stage for the next phase of systematic exploration and resource development.

Beyond the Kossou gold project, the company is advancing exploration at its Kotobi permit and is actively expanding its land position in Ivory Coast with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience.

Kobo's common shares trade on the TSX Venture Exchange under the symbol KRI.

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