Kobo Resources Receives Proceeds of $1,275,010 from Successful Warrant Exercise and Appoints Dr. Ghislain Tourigny as Structural Geology Consultant

Kobo Resources Inc. ("Kobo” or the "Company") (TSX.V: KRI) is pleased to announce it has received $1,275,010 in total gross proceeds from the exercise of 4,250,034 Common Share Purchase Warrants (the “Warrants”), representing 100% of the outstanding Warrants expiring August 31, 2023.

The Company is also pleased to announce the appointment of Dr. Ghislain Tourigny as structural geology consultant to assist in furthering the understanding of the structural setting and controls on gold mineralisation of key targets at its 100%-owned Kossou Gold Project (“Kossou”).

Edward Gosselin, CEO and Director of Kobo commented: “The successful exercise of Warrants reaffirms our existing shareholders' confidence in our ability to successfully deliver and execute on our exploration program thus far at Kossou. Among the subscribers are several industry professionals which represents a strong vote of confidence towards Kobo and its quest in making Kossou a successful project. The additional capital will help support our exploration plans going forward. We remain enthusiastic about the opportunities that lie ahead, especially with the planned additional drilling on the Jagger Zone, Road Cut Zone and first holes at the Kadie Zone to further define and extend gold mineralization within these zones.”

He continued: “It is a pleasure to have Dr. Ghislain Tourigny join our team to help further our understanding of the overall structural framework of our key targets at Kossou. Dr. Tourigny has over 35 years of experience in structural geology, including four years as the Group Structural Geologist at Perseus’ Yaouré Gold Mine and three additional years consulting to Perseus mapping exploration and exploitation permits and conducting detailed open pit mapping at the Yaourè mine with an emphasis on structural controls on gold mineralisation. The expertise that Dr. Tourigny possesses of the area will prove invaluable as we work to further understand the structural setting of our prospective targets, including the Jagger Zone, Road Cut Zone, and the newly mapped Kadie Zone.”

Dr. Ghislain Tourigny is a distinguished and accomplished structural geologist with over four decades of expertise in geology, particularly in West Africa. Dr. Tourigny’s most recently served as Group Structural Geologist at Perseus in Cote d’Ivoire, where he focused on the structural mapping of the Yaouré Gold Mine open pit, with an emphasis on the structural controls of the gold-bearing lenses, structural logging of the main fault zones and the structural interpretation of airborne geophysical data. Dr. Tourigny’s notable experience in West Africa over the last 20 years includes holding the positions of Exploration Manager at SEMS Exploration Services Ltd., Structural and Mineral Deposits Geologist at Etruscan Resources Inc. and Senior Regional Geologist High River Gold Mines Ltd. in Burkina Faso as well as Regional Geologist at Gold Fields Ltd. in Mali. Dr. Tourigny holds a Ph.D. in structural geology and metallogeny and a Masters in structural geology from University of Montreal, and a Bachelor in geology from University du Quebec, Montreal.

The Company has also filed its interim consolidated financial statements for the three and six months ended June 30, 2023 and 2022, and its management's discussion and analysis for the three and six months ended June 30, 2023, which are available at www.koboresources.com or on the Company’s SEDAR+ profile at www.sedarplus.com.

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’s 2023 exploration plan calls for over 8,000 meters of reverse circulation drilling with an immediate goal of defining significant near surface zones of gold mineralisation. 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.

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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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