Kalo Gold Corp. announced that, based on the results of recent compilation work, the gold mineralization of the Qiriyaga Hill Deposit is located between two interpreted volcanic centres and sits immediately east of the newly interpreted Vunisea Fault. The Vunisea Fault is associated with a >1,200 metre ("m") north-northeast trending untested soil anomaly.

The Vunisea fault potentially acted as a metal-bearing epithermal fluid conduit or " feeder zone " that then spread laterally to the east into layers of porous tuffs, volcanic breccias and limestone layers, thereby creating the Qiriyaga Hill deposit. Historically, drilling at Qiriyaga Hill was solely focused on the development of a shallow open pit gold mining operation over approximately a 400m strike length and therefore the deepest hole drilled to date has a vertical depth of only 150m. In addition, trenching from Qiriyaga East and 500m northeast to Vunikulu has also returned excellent results.

These targets have not been drill tested. Historical trenching at Qiriyaga Hill, which has been drill tested to a maximum of 150m vertical depth, has returned several significant surface trench results. The new interpretation of both geology and structure, when overlain with the results of the Controlled-Source Audio-frequency Magnetotellurics ("CSAMT") survey, have identified a high resistivity zone immediately west of the QiriyagaHill Deposit that is interpreted to be associated with an upwelling or feeder zone that has not yet been drill tested and is located along the Vunisea Fault.

It is estimated that drilling within 300 to 400m of the surface, targeting the main CSAMT interpreted "upwelling zone" which underlies the Vunisea Fault is a priority for the next phase of exploration work and drilling. The geological model developed for this target indicates that drilling to date has focussed on mineralization found laterally from a yet to be discovered gold feeder zone. The Company continues the compilation work with a focus on structure and geology to further identify additional epithermal gold targets.

With the work that has been completed to date the Company has formulated a detailed trenching, mapping, sampling and drill core relogging program that would be followed up by a diamond drilling program for the Qiriyaga Hill Prospect which would include all the targets discussed in this news release and the new release dated 15 February 2024.