Mr. Rob Buchanan reports

KARORA OBTAINS FINAL COURT ORDER APPROVING ITS PLAN OF ARRANGEMENT WITH WESTGOLD

Karora Resources Inc. has obtained the final court order from the Ontario Superior Court of Justice (Commercial List) approving the previously announced plan of arrangement under the Canada Business Corporations Act in respect of its merger with Westgold Resources Ltd.

As previously announced, the arrangement was approved by the holders of common shares of Karora at the annual general and special meeting of shareholders of Karora held on July 19, 2024.

The arrangement is expected to become effective on or about Aug. 1, 2024, subject to, among other things, the satisfaction or waiver of certain other customary closing conditions. It is expected that, subject to final approval of the Toronto Stock Exchange (TSX), within two to three business days following the completion of the arrangement, the Karora shares will be delisted from the TSX and the Westgold ordinary shares will begin trading on the TSX.

Additional details about the arrangement can be found in the management information circular of Karora dated June 17, 2024, a copy of which is available on SEDAR+ under Karora's issuer profile.

About Karora Resources Inc.

Karora is focused on increasing gold production 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-annum 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 five-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. Karora has a strong board of directors and management team focused on delivering shareholder value and responsible mining, as demonstrated by Karora's commitment to reducing emissions across its operations. The Karora shares trade on the Toronto Stock Exchange under the symbol KRR and on the OTCQX market under the symbol KRRGF.

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