Mr. Aurelien Bonneviot reports

ROBEX ANNOUNCES ITS THIRD QUARTER RESULTS 2023

Robex Resources Inc. has released its operational and financial results for the third quarter ended Sept. 30, 2023.

Aurelien Bonneviot, Chief Executive Officer: "Another strong set of operating results at Nampala, demonstrating the incredible dedication of the enlarged management team since the beginning of the year. Nampala's operation performance continue to support the development of the group towards becoming a mid-tier gold producer in West Africa. We are on-track to deliver our 2023 guidance on production and costs 1 . We would like to thank all Robex employees for their hard work."

Unless otherwise noted, all amounts and financials in this press release are presented in Canadian dollars (CAD).

SUMMARY OF HIGHLIGHTS FOR THE THIRD QUARTER OF 2023 COMPARED TO THE THIRD QUARTER OF 2022

Nampala Mine Operations

Production reached 13,375 ounces for the third quarter of 2023, compared to 11,124 ounces for the same period in 2022, despite a decrease in ore grade processed at the Nampala plant. This 20.2% increase in gold production was achieved thanks to a 25.5% increase in tonnage processed and allowed the Company to increase the quantity of gold sold by 446 ounces, or 14,090 ounces, compared to 13,644 ounces for the same period in 2022.

For the quarter ended September 30, 2023, despite the rainy season in Nampala, the total quantity of material extracted from the pits reached 1,321,387 tonnes, including 1,057,271 tonnes of waste rock and 264,116 tonnes of ore, corresponding to an operational stripping ratio of 4.0 which is stable compared to the same period in 2022. For the same period in 2022, 2,065,818 tonnes of material were extracted, including 1,667,252 tonnes of waste rock and 398,566 tonnes of ore, corresponding to a stripping ratio of 4.2.

The decrease in all-in sustaining cost2 of $1,083 per ounce of gold sold in the third quarter of 2023 compared to $1,291 per ounce sold for the same period in 2022 is explained by this decrease in waste rock mined and the decrease in stripping costs of $1,857,631 included in sustaining capital expenditures, partially offset by higher mining operating expenses of $1,064,811.

Financial

Gold sales revenues amounted at $36,188,940 compared to $30,749,561 for the same period in 2022. The favourable variance of $5,439,379 is attributable to:

An increase in the average realized selling price per ounce sold3 of $2,568 compared to $2,254

A 3.3% increase in ounces sold due to better production in the third quarter of 2023 compared to the same period in 2022.

Mining segment operating income was $15,097,580 in the third quarter of 2023, up 9.1% compared to the same period in 2022. This increase was obviously impacted by the increase in mining profit.

Net income attributable to common shareholders for the third quarter of 2023 of $6,243,934 decreased slightly compared to $6,448,074 for the same period in 2022.

Net debt3 amounted to $46,321,438 for the period ended September 30, 2023, increasing from $21,673,490 as at December 31, 2022. This is explained by the implementation of the Taurus bridge loan whose drawdown balance amounted to $46,557,832 as of September 30, 2023. The repayment of lines of credit, from $11,370,939 as at December 31, 2022 to $5,355,331 as at September 30, 2023, limits the increase in net debt over this period.

During the third quarter of 2023, operating activities generated positive cash flows of $10,169,150 compared to $5,210,524 in the third quarter of 2022. This increase of $4,958,626 is largely explained by the positive net change in non-cash working capital items of $4,456,775.

OUTLOOK AND STRATEGY 2023

The Group's objectives for the end of 2023 are as follows:

Nampala's improved performance: The implementation of the new mining plan during 2023 has made it possible to optimize excavation activities, especially during the rainy season. Production is in line with management's guidance of 48,000 to 52,000 ounces. Management is implementing initiatives to increase mill availability and the capacity of the existing mill to process transition ore.

Continued preparation for the construction of the Kiniero mine: As planned, teams of geologists completed definition drilling and engineering. The publication of the final feasibility study on June 23 validated the construction plan. The management has started to set up specialized teams for the planning of this construction project and significant technical and legal preparatory work have been carried out.

Progress in negotiations for the financing of the Kiniero project: The Company was able to draw on the US$35 million bridge loan obtained as part of the financing of Taurus Mining Finance Fund No.2 L.P, which is expected to be repaid in full on December 22nd 2023.

Management is continuing negotiation with Taurus to fund the Kiniero gold project in Guinea for up to US$115 million to cover the repayment of the bridge loan and the financing of capital development and working capital costs.

Detailed information

We strongly recommend that readers consult Robex's Management's Discussion and Analysis and Consolidated Financial Statements for the third quarter ended September 30, 2023, which are available on the Company's website in the Investors section at: robexgold.com for a more complete discussion of the Company's financial results.

About Robex Resources Inc.

Robex is a multi-jurisdictional West African gold production and development company with near-term exploration potential. The Company is dedicated to safe, diverse and responsible operations in the countries in which it operates with a goal to foster sustainable growth. The Company has been operating the Nampala mine in Mali since 2017 and is advancing the Kiniero Gold Project in Guinea.

We seek Safe Harbor.