Kobo Resources Inc. announce it has commenced its first-phase drill program at the Company’s 100%-owned Kossou Gold Project (“Kossou”) in Cote d’Ivoire, one of West Africa’s most prolific gold districts. A total of 8,000 metres ("m") of reverse circulation ("RC") drilling is planned this year which will be conducted in two phases. The drilling will initially target three priority zones, the Jagger Zone, the Road Cut Zone and the Contact Zone (Figure 1) based on the previously reported high-grade gold mineralization intersected in rock and trench samples.

The first phase program will consist of 45 inclined boreholes ranging between 50 m and 230 m depth totalling 4,250 m. A total of 23 holes will be completed at Jagger (2,650 m), 10 holes at the Road Cut Zone (1,000 m), and 12 holes (600 m) in the Contact Zone. The second phase RC drilling totalling 3,750 m will be completed after a short pause in drilling in order to evaluate the results from Phase 1 and to plan the construction of additional drill platforms at the Jagger South Zone and at other targets generated by the Company. The Jagger Zone is represented by a major, well-defined north-south trending shear zone which is defined by the largest and strongest soil geochemical anomaly discovered at Kossou to date.

The Company has confirmed the existence of strong gold mineralisation through detailed infill soil sampling, geological mapping and trenching. The Jagger Shear Zone is approximately 1.85 km in strike length with peak gold in soil concentrations up to 112 g/t Au. Recently released sampling results for trench KTR028 (see press release dated June 7, 2023) intersected several high-grade gold zones.

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 total strike length of the Jagger Zone, including untested geochemical anomalies, will be the primary target of the 2023 drill program. Road Cut Zone The Road Cut Zone was initially discovered during early exploration work at Kossou and lies within another shear zone hosting strongly altered volcanic rocks heavily crosscut by quartz and quartz-carbonate veins/veinlets. The original exposure returned 4.64 g/t Au over an 18.2 m in continuous chip samples.

Further rock sampling confirmed grades and expanded the extent of the showing. Gold in soil geochemistry indicates that this target can be traced over a strike length of 1.7 kilometers and remains a prime target for drilling in 2023. Recent trenching has exposed a new mineralisation that assayed 11.30 g/t Au over 4.0 m (KTR003), 8.48 g/t Au over 1.00 m (KTR001) and 8.50 g/t Au over 3.4 m (KTR012).

Contact Zone The Company considers the Contact Zone as being a target with excellent potential for significant gold mineralization, particularly in the area where the Jagger Shear Zone intersects the contact between meta-volcanic and meta-sedimentary rocks. There has been small-scale artisanal mining of free gold along the shoreline of Lake Kossou in this area and airborne magnetic data shows the artisanal mining aligns directly above and along and the interpreted geological contact. Recent geological mapping and rock chip sampling have identified grades of 7.10 g/t Au in a sheared meta-sediment float sample.

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.