An anonymous director reports

KARORA RESOURCES PROVIDES UPDATE ON EXCLUSIVE DISCUSSIONS

Karora Resources Inc. has noted the announcement today by Ramelius Resources Ltd. that it is no longer in exclusive discussions with Karora regarding a potential transaction. Karora confirms that it has exited such discussions.

Karora also confirms that it is currently engaged in exclusive negotiations with a new third party regarding a potential business combination. No definitive agreement has been reached, and there can be no assurance that any transaction will result from these discussions. Even if a final transaction is agreed upon, there can be no assurances as to its terms, structure or timing. Karora does not intend to make any additional comments regarding these discussions or any potential transaction unless a definitive agreement has been reached.

About Karora Resources Inc.

Karora is focused on increasing gold production at its integrated Beta Hunt gold mine and Higginsville gold operations in Western Australia. Ore is processed at two centralized plants: the 1.6-million-tonne-per-year Higginsville mill and the 1.0-million-tonne-per-year Lakewood mill, both located near its mining operations. At Beta Hunt, a robust gold mineral resource and reserve are hosted in multiple gold shears, with gold intersections along a five-kilometre strike length remaining open in multiple directions. Higginsville has a substantial mineral gold resource and reserve and prospective land package totalling approximately 1,900 square kilometres. 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 on the OTCQX market under the symbol KRRGF.

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