Kobo Resources Extends Highly Prospective Jagger Zone by 250 m South with Strong New Gold Intercepts, Including 7.0 m at 3.66 g/t Au and 4.0 m at 3.26 g/t Au

Further drilling confirms additional, strong gold mineralization at Jagger Zone 250 m south of the core and fills critical gaps from previous exploration

Kobo Resources Inc. ("Kobo” or the "Company") (TSX.V: KRI) is pleased to announce additional gold intercepts from the Jagger Zone at its 100%-owned Kossou Gold Project (“Kossou”) in Côte d’Ivoire. Results from six new diamond drill holes have extended mineralization by 250 metres (“m”) to the south and confirmed strong gold continuity within this previously untested gap area. Notable intercepts include 7.0 m at 3.66 g/t Au, 4.0 m at 3.26 g/t Au, and 9.0 m at 1.39 g/t Au, underscoring this target’s expanding exploration potential.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241118596820/en/

Figure 1: Jagger Zone Drill Results and Collar Location Map (Graphic: Business Wire)

Diamond Drill Results – Highlights:

• KDD0031– 4.0 m at 3.62 g/t Au from 255.0 m
• KDD0032 – 7.0 m at 3.66 g/t Au from 160.0 m
• KDD0034 – 9.0 m at 1.39 g/t Au from 106.0 m

Edward Gosselin, CEO and Director of Kobo commented: “The recent results from the Jagger Zone underscore both the continuity and the significant scale of gold mineralization within this highly prospective target, successfully extending the mineralized zone by 250 m to the south. These intercepts are part of our broader 10,000 m diamond drilling program at the Kossou, which continues to validate the exploration potential across the gold targets within our Côte d’Ivoire portfolio. With newly established infrastructure allowing access to previously untested areas and a second drill rig now mobilized, we remain on track to complete this drilling phase by mid-January 2025. We look forward to building on these results and advancing Kossou’s potential through continued systematic exploration.”

Recent drill holes focused on the previously inaccessible area just south of the Jagger Zone core, where a 250 m gap in drilling remained due to prior topographical constraints (see Figure 1). With a newly established network of roads and drill pads, Kobo successfully accessed this area, delineating gold mineralization in the Jagger Shear Zone down to the 2023 Reverse Circulation (“RC”) holes on section JZ 1000. These results effectively extend the Jagger Shear Zone by an additional 250 m to the south. Complete drill result details are available in Table 1.

Diamond drill holes KDD0031 to KDD0034, targeting sections JZ 750, JZ 800, JZ 850, and JZ 900, reconfirmed the Jagger Shear Zone’s continuity and delineated zones of significant gold mineralization that had not been previously identified, extending the zone by an additional 250 m to the south. Additional parallel shear zones have also been identified.

Diamond drill hole KDD0032 intersected three mineralized shear zones, including 7.0 m at 3.66 g/t Au (from 160 m) along the structural footwall of the Jagger Shear (see Figure 2), as well as 3.0 m at 2.28 g/t Au (from 83 m) and 4.0 m at 1.42 g/t Au (from 94 m), demonstrating gold mineralization across the Jagger Shear Zone. These zones are consistent with previous findings, with mineralization linked to well-defined shearing, quartz-carbonate-tourmaline veining, silicification, and sericite-pyrite alteration.

Drill hole KDD0031 intersected multiple zones of gold mineralization across the Jagger Shear Zone, including 11.0 m at 0.35 g/t Au (from 116 m) and several sub-parallel structures on the footwall, such as 4.0 m at 3.26 g/t Au (from 255 m). See Figure 3 for section details. The deep structure intersected in KDD0031 aligns with the mineralized zone intersected in KDD0028 on section JZ600 (8.0 m at 3.72 g/t Au). See press release dated October 29, 2024, for more details.

Broad zones of mineralization in KDD0034 on section JZ900 correlate with those exposed at surface in trench KTR030a on section JZ700, featuring quartz feldspar porphyry intrusives, aplite dykes, and sheared diorite lithologies. Results include 9.0 m at 1.39 g/t Au (from 106 m) and 10.0 m at 0.94 g/t Au (from 82 m). See Figure 4 for section details.

A similar observation can be made for drill hole KDD0033 on section JZ 850, where broad zones of sheared volcanics and quartz-carbonate veining with gold mineralisation were identified.

The gold grades in KDD0035 (section JZ1000) and KDD0036 (section JZ1050) returned low, anomalous gold grades within the Jagger Shear Zone. See Figure 1 for drill hole location.

Table 1: Summary of Significant Diamond Drill Hole Results

An accurate dip and strike and controls of mineralisation are unconfirmed at this time and the true width of mineralisation are unconfirmed at this time. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances.

Sampling, QAQC, and Analytical Procedures

Drill core was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Samples are transported to the SGS Côte d’Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QAQC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample (split of the 1 m original sample) every 20 samples. All QAQC control samples returned values within acceptable limits.

Review of Technical Information

The scientific and technical information in this press release has been reviewed and approved by Paul Sarjeant, P.Geo., who is a Qualified Persons as defined in National Instrument 43-101. Mr. Sarjeant is the President and Chief Operating Officer and Director of Kobo.

About Kobo Resources Inc.

Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d'Ivoire, one of West Africa’s most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company’s 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region’s largest gold mines with established processing facilities.

The Company is drilling to unlock the potential size and scale of Kossou within 9+ km strike length of highly prospective gold in soil geochemical anomalies with excellent rock and trench sampling, as well as drill results. Significant gold mineralisation has been identified at three main targets within a 300 m wide, 2+ km long, pervasively altered structural corridor defining a potentially large orogenic gold system. In 2023, the Company completed approximately 5,900 meters of reverse circulation (RC) drilling and 5,400 meters of trenching, alongside 4,368 meters of diamond drilling in 2024. Moving forward, the Company is conducting an additional 10,000 meters of core diamond drilling during the remainder of 2024 at key targets at the Kossou Gold Project. The Company also plans on additional exploration on its Kotobi Permit and pending approval for over 600 km2 of prospective ground as part of its strategic efforts to expand its footprint in Côte d'Ivoire.

Kobo remains committed to identifying and developing new opportunities to enhance its land position and growth in the region. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo’s common shares trade on the TSX Venture Exchange under the symbol "KRI”. For more information, please visit www.koboresources.com.

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Statement on Forward-looking Information:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241118596820/en/