Mr. Paul Huet reports

KARORA ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Karora Resources Inc. has released the voting results of its annual and special meeting of shareholders held today.

Election of directors

The nominee directors listed in Karora's management information circular dated May 16, 2022, were elected as directors. Shareholders present in person or represented by proxy at the meeting voted as set out in the attached table.

               VOTING RESULTS FOR ELECTION OF DIRECTORS

Director               Votes for (by proxy)   Votes withheld (by proxy)

Peter Goudie            67,236,302 (91.11%)           6,560,558 (8.89%)
Scott M. Hand           63,715,321 (86.34%)         10,081,539 (13.66%)
Paul Huet               71,219,722 (96.51%)           2,577,138 (3.49%)
Warwick Morley-Jepson   67,473,218 (91.43%)           6,323,642 (8.57%)
Shirley In't Veld       71,236,172 (96.53%)           2,560,688 (3.47%)
Meri Verli              73,387,877 (99.45%)             408,983 (0.55%)
Chad Williams           53,163,895 (72.04%)         20,632,965 (27.96%)

Other items

The resolution to reappoint PricewaterhouseCoopers LLP, chartered accountants, as auditor of the corporation to hold office until the next annual meeting of shareholders and to authorize the directors to fix the remuneration to be paid to the auditor was approved by 98.87 per cent of the votes cast on the resolution.

The resolution to approve Karora's share incentive plan and the unallocated entitlements thereunder was approved by 90.10 per cent of the votes cast on the resolution.

About Karora Resources Inc.

Karora is focused on increasing gold production to a targeted range of 185,000 to 205,000 ounces by 2024 at its integrated Beta Hunt gold mine and Higginsville gold operations (HGO) in Western Australia. The Higginsville treatment facility is a low-cost 1.6-million-tonne-per-year processing plant, which is fed at capacity from Karora's underground Beta Hunt mine and Higginsville mines. Karora recently announced the proposed acquisition of the Lakewood mill in Western Australia, which will initially add 1.0-million-tonne-per-year capacity. At Beta Hunt, a robust gold mineral resource and reserve are hosted in multiple gold shears, with gold intersections along a four-kilometre strike length remaining open in multiple directions. HGO has a substantial mineral gold resource and reserve and prospective land package totalling approximately 1,900 square kilometres. The company also owns the high-grade Spargos Reward project, which came into production in 2021. Karora has a strong board and management team focused on delivering shareholder value and responsible mining, as demonstrated by Karora's commitment to reducing emissions across its operations. Karora's common shares trade on the Toronto Stock Exchange under the symbol KRR and also trade on the OTCQX market under the symbol KRRGF.

We seek Safe Harbor.