Kobo Resources Reports High

Jun 29, 2023

QUEBEC CITY, June 07, 2023--(BUSINESS WIRE)--Kobo Resources Inc. ("Kobo" or the "Company") (TSX.V: KRI) is pleased to announce high-grade trenching results from the Jagger Zone as part of the ongoing exploration program at its 100%-owned Kossou Gold Project located in Côte d’Ivoire.

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Figure 1: Jagger Zone summary with Trench Results (Graphic: Business Wire)

As previously reported on May 2, 2023, the Jagger Shear Zone which extended along a 750 m strike has now been extended to 1.2 km strike length (Figure 1) through mapping and trenching.

Following detailed infill soil sampling, geological mapping and trenching, the Company has confirmed the existence of a significant gold bearing structure at the Jagger Zone. The peak of the geochemical anomaly extends for 450 m with gold in soil values up to 112 g/t Au.

Included are assay results and highlights from the three new trenches (KTR26, KTR27 and KTR28) at the Jagger Zone (see Table 1 for details):

KTR028 is the first trench on the peak of the high-grade soil anomaly at the Jagger Zone

Gold values from trench KTR028 feature two distinct shear zones separated by approximately 40 m of low-grade mineralisation

The most westerly zone features 6.42* g/t over 29.0 m, including sub-intervals of 18.04 g/t Au over 5 m, 11.44 g/t over 8 m and 5.53* g/t Au over 17 m

The second and more easterly shear zone featured 1.17* g/t Au over 27 m, including sub-intervals 1.62 g/t Au over 15.0 m, 5.38 g/t Au over 3.0 m and 0.82 g/t Au over 8.0 m

The strong linear structure from trenches KTR020 to KTR028 now measures 1.2 km in strike, with KTR028 being the best trench result to date. The shear zone extends an additional 650 m to the volcanic-volcanosediment contact.

The total strike length of the Jagger Zone, including untested geochemical anomalies, now stands at 1.85 km and will be the primary target of the upcoming drill program.

Edward Gosselin, CEO and Director of Kobo commented: "These positive results, combined with results outlined in the Company's latest NI 43-101 Technical Report, have confirmed the presence of a significant gold bearing structure at the Jagger Zone, which has now been elevated to the primary target of our upcoming 2023 drilling campaign. The significance of these results is not only based on the grades reported, but also on the fact that they support our early geological interpretation that gold mineralization occurs within a major north-south shear structure at the Jagger Zone which appears to be extending towards the volcanics and volcanosediment contact zone, an area we feel holds significant potential." He continued: "These trench results are extremely encouraging, and we are looking forward to embarking on our drilling campaign in the coming weeks. The Road Cut Zone, which initially attracted us to the area, continues to be a high priority drilling target. As planned, we anticipate mobilizing the drill rig to the Jagger and Road Cut Zones following the completion of road clearing efforts and drill pad construction."

Table 1: Jagger Zone and Jagger South Zone Trench Results

Trench ID

From (m)

To (m)

Interval

Au g/t

Target

KTR028

24.00

53.00

29.00

6.42*

Jagger

KTR028

Incl.

24.00

29.00

5.00

18.04

Jagger

KTR028

Incl.

24.00

32.00

8.00

11.44

Jagger

KTR028

Incl.

36.00

53.00

17.00

5.53*

Jagger

KTR028

Incl.

36.00

38.00

2.00

33.00

Jagger

KTR028

Incl.

36.00

39.00

3.00

22.20

Jagger

KTR028

Incl.

42.00

53.00

11.00

2.45

Jagger

KTR028

Incl.

43.00

45.00

2.00

9.98

Jagger

KTR028

96.00

123.00

27.00

1.17*

Jagger

KTR028

Incl.

96.00

111.00

15.00

1.62

Jagger

KTR028

Incl.

102.00

105.00

3.00

5.38

Jagger

KTR028

Incl.

115.00

123.00

8.00

0.82

Jagger

KTR028

134.00

138.00

4.00

0.42

Jagger

KTR022

80.00

82.00

2.00

1.15

Jagger South

KTR022

89.00

90.00

1.00

0.31

Jagger South

KTR023

36.00

49.00

13.00

0.80

Jagger South

KTR023

Incl.

37.00

39.00

2.00

0.86

Jagger South

KTR023

Incl.

43.00

47.00

4.00

1.79

Jagger South

KTR026

19.30

21.00

1.70

1.57

Jagger

KTR026

52.00

53.00

1.00

4.75

Jagger

KTR027

9.00

10.00

1.00

1.20

Jagger

KTR027

69.00

70.00

1.00

0.61

Jagger

3.72 g/t - 2m @ 0.30 g/t cut off (maximum 2m internal <0.30 g/t)

1.93*g/t - 2m @ 0.30 g/t cut off (greater than 2m internal <0.30 g/t)

Additionally, two new trenches located in the Jagger South Zone, KTR022 (1.15 g/t Au over 2.0 m) and KTR023 (0.8 g/t Au over 13.0 m, including 1.79 g/t over 4.0 m), represent an additional gold bearing offset structure to the southwest of the Jagger Zone.

Sampling, QAQC, and Analytical Procedures

All samples were analysed at the SGS facility in Yamoussoukro using a 50 g Fire Assay with an AA finish (FAA505 with prep code PRP87). Samples assaying greater that 5.0 g/t Au were re-submitted for Fire Assay with Gravimetric finish (FAG505). Those values were considered final. 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 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.

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/20230607005140/en/

Contacts

For further information, please contact:

Edward GosselinChief Executive Officer and [email protected]

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