KGL Resources Announces Grant of Stock Options

TORONTO, ON, March 02, 2022 (GLOBE NEWSWIRE) -- KGL Resources Ltd. (“KGL” or the “Company”) (TSX VENTURE: KGL) announced today that, subject to regulatory approval, it has granted stock options to acquire an aggregate of 824,000 common shares to directors and officers of the Company under its Employee Stock Option Plan. Each option is exercisable for a five year period to acquire one common share at a price of $0.105 per share. The options granted are not subject to vesting restrictions.

About KGL Resources

KGL Resources Ltd. is a Canadian mineral exploration company that is listed on the TSX Venture Exchange under the symbol “KGL” and on the Frankfurt Exchange under the symbol '02K'. KGL Resources holds a 20% interest in a bid for mining rights to four iron ore concessions located in the Bamyan province of Afghanistan.

For further information, please contact:

Donat Madilo Interim Chief Executive Officer Tel: +1 (416) 360-3406

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.