Mr. Paul Huet reports

KARORA ANNOUNCES RESULTS OF ANNUAL MEETING OF SHAREHOLDERS

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

Election of directors

The nominee directors listed in Karora's management information circular dated May 19, 2023, 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        Votes withheld  

Peter Goudie        79,616,661   96.31%   3,051,745   3.69%
Scott Hand          79,593,865   96.28%   3,074,541   3.72%
Paul Huet           78,574,144   95.05%   4,094,262   4.95%
Shirley In't Veld   79,690,756   96.40%   2,977,650   3.60%
Meri Verli          81,271,571   98.31%   1,396,835   1.69%
Chad Williams       80,541,136   97.43%   2,127,270   2.57%

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 97.92 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 170,000 to 195,000 ounces by 2024 at its integrated Beta Hunt gold mine and its Higginsville gold operations 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. In July, 2022, Karora acquired the 1.0-million-tonne-per-year Lakewood mill in Western Australia. 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 gold mineral 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.