Kobo Resources Inc. reported continued exploration efforts at its 100%-owned Kossou Gold Project (Kossou) with the signing of a drill contract with Geodrill CI (Geodrill) for the Company's maiden 8,000+ metre (m) reverse circulation (RC) drill program. Phase One Exploration Program Update Kossou Gold Project: In late April 2023, the Company signed a drilling contract with Geodrill for the planned RC drill program at Kossou. The Company plans commence its maiden 8,000+ m RC drill program on key targets within the Kossou exploration permit in June 2023, including the Jagger Zone (Jagger), Road Cut Zone (RCZ) and Contact Zone (CZ).

The Company's immediate goal is to define significant extents of near surface zones of gold mineralisation and results of its first phase of drilling will determine which targets warrant additional drilling to depth to extend potential mineralised zones. In advance of its planned drilling campaign in June 2023, the Company continued other exploration efforts at Kossou by completing two additional trenches and making new surface discoveries of mineralisation at Jagger. Since the Company's previous update on April 13, 2023, mapping and trenching of the newly discovered shear zone with highly silicified breccia zones at Jagger has been extended another 250 m north from previous results (10.55 g/t Au), suggesting over 750 m of strike extent on the target.

Strong geochemical evidence also supports a further extension to the north and new trench targets have been laid out. To help further define and map gold bearing structures at this zone, the Company also initiated a detailed in-fill soil geochemical sampling program within the larger soil anomaly. Additionally, two trenches will also be excavated at the CZ as part of the initial exploration program at this target.

Additional Exploration Opportunities at the Kotobi Permit: The Company has initiated a 1,520-line km unmanned autonomous vehicle (UAV) magnetics survey to aid in a further geological assessment of its Kotobi Permit. The magnetic survey is being undertaken by MWH Geo-Surveys International Inc. and is expected to be completed in May 2023. Results of the survey will be compiled with current soil geochemistry and rock sampling results to determine potential targets for further exploration.