Kobo Resources Continues to Intersect High-Grade Gold Mineralisation at its Kossou Gold Project with 19.0 Metres at 2.82 g/t Au, including 3.7 Metres at 11.82 g/t Au

Kobo Resources Inc. ("Kobo” or the "Company") (TSX.V: KRI) is pleased to announce positive results from the first diamond drill hole of the Company’s 2024 exploration program at its 100% owned Kossou Gold Project (“Kossou”) located in Cote d’Ivoire, West Africa.

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Figure 1: KDD001 Drill Hole Location Map with 2023 RC Drill Holes and Trenches (Graphic: Business Wire)

Highlights:

• KDD001: 38.20 metres (“m”) at 1.55 g/t* Au from 61.40 m, including 19.10 m at 2.82 g/t* Au from 61.40 m and 3.70 m at 11.82 g/t Au from 67.30 m

Edward Gosselin, CEO and Director of Kobo commented: “The observation of visible gold within quartz-carbonate veins in the first diamond drill hole of our 2024 drill program is very encouraging and supports the potential of significant gold mineralization at the Jagger Zone. Importantly, positive results from KDD001, together with results from our 2023 RC drill program appear to confirm a strong correlation of the main mineralised zone at the Jagger Zone, further highlighting the significant opportunity of our 100%-owned Kossou Gold Project. We look forward to continuing our 4,000 to 5,000 m diamond drilling program at Kossou in the first half of 2024, both to test previously undrilled targets and to advance exploration to find new areas of potential mineralisation at the Kossou permit.”

Following the successful trenching and reverse circulation (“RC”) drill program conducted in 2023, the Company initiated its 2024 diamond drill program to confirm mineralisation and test structural controls at the Jagger Zone. The Company will also test for additional mineralisation at the Road Cut Zone where additional shear zones were discovered last year and drill portions of the previously untested gold-in-soil anomaly that cores this target. Additionally, the Company plans to drill the Kadie Zone for the first time to test the strong gold-in-soil geochemical anomaly and to follow up on positive trench results returned at this target during its exploration activities in 2023.

KDD001 is the first diamond drill hole of the Company's 2024 drill program aimed at further evaluating the north-south trending Jagger Shear Zone and mineralized intervals from the Company's 2023 RC drill program. KDD001 was drilled to confirm gold mineralisation beneath trenches KTR030 and KTR030a, to test continuity of the Jagger Shear Zone previous intercepted in RC drill holes KRC008 (13 m at 0.72 g/t Au from 15 m depth) and KRC009, (48 m at 1.03 g/t Au* from 69 m, including sub-intervals of 13 m at 1.70 g/t Au from 69 m and 15 m at 1.37 g/t Au from 87 m), (see press release dated July 24, 2023), and validate the presence of the 290^o gold quartz-carbonate veins termed “V2” veins from the structural study completed by the Company’s Structural Geology Consultant, Dr. Ghislain Tourigny in October 2023.

Compared to hole KRC009 from the Company’s 2023 RC drill program, results from KDD001 show strong correlation and the continuation of a wide mineralized zone within sheared and altered volcanics of the Jagger Shear Zone. Visible gold was identified within the high-grade interval at 67.30 m. The high-grade mineralisation is believed to be associated within the sheared contacts of a quartz feldspar porphyry intrusive within basalts and the presence of high-grade “V2” quartz-carbonate veins. Due to the intense shearing encountered downhole, core loss could affect the actual grade of some intervals. Based on the positive results of KDD001 and previous results from its 2023 RC drill program, the Company believes that the main mineralised zone at the Jagger Zone is very well correlated.

Table 1: Summary of KDD001 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. QA/QC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample every 20 samples. All QA/QC 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 Cote 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 results. The Company completed ~5,900 m of RC drilling and ~5,400 m of trenching in 2023 and has initiated 4,000 – 5,000 m of diamond drilling in 2024. 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 mesothermal gold system. 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.

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.

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