An anonymous director reports

KARORA RESOURCES RENEWS NORMAL COURSE ISSUER BID

Karora Resources Inc. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid to purchase up to no more than 8,886,939 of its issued and outstanding common shares.

Purchases under the Bid may commence on November 1, 2023. The Bid will expire no later than October 31, 2024. Purchases of common shares will be made through the facilities of the TSX in accordance with its rules. Purchases may also be made through alternative Canadian trading systems. The average daily trading volume of the Common Shares for the most recently completed six calendar months ("ADTV") was 555,662 Common Shares. Subject to the TSX's block purchase exception, on any trading day, purchases under the Bid will not exceed 138,915 Common Shares (25% of the ADTV). The price that the Corporation will pay for any Common Shares purchased under the Bid will be the prevailing market price at the time of purchase. Any Common Shares purchased by the Corporation will be cancelled.

As of October 25, 2023, there were 177,738,780 Common Shares issued and outstanding. The 8,886,939 Common Shares that may be repurchased under the Bid represents 5% of the Common Shares issued and outstanding.

Any purchases made under the Bid would, among other factors, reflect the Corporation's belief that its common shares trade at a significant discount to their underlying value.

The Board of Directors has determined that the Bid is an effective use of the Corporation's financial resources when its Common Shares trade at a significant discount to their underlying value.

To the knowledge of the Corporation, no director, senior officer or other insider of the Corporation currently intends to sell any common shares under the Bid. However, sales by such persons through the facilities of the TSX may occur if the personal circumstances of any such person change or any such person makes a decision unrelated to these purchases under the Bid. If during the course of the Bid the Corporation becomes aware that such persons intend to sell their Common Shares then the Corporation will not intentionally acquire such Common Shares pursuant to the Bid. The benefits to any such person whose shares are purchased would be the same as the benefits available to all other holders whose shares are purchased.

Cormark Securities Inc. has been engaged to undertake purchases under the Bid.

About Karora Resources

Karora is focused on increasing gold production to a targeted range of 175,000-195,000 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 Mtpa 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 Mtpa 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 5 km strike length remaining open in multiple directions. HGO has a substantial Mineral gold Resource and Reserve and prospective land package totaling approximately 1,900 square kilometers. 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 TSX under the symbol KRR and on the OTCQX market under the symbol KRRGF.

We seek Safe Harbor.