KORE Mining Ltd. announced positive results from additional engineering and economic assessment work for the Company's 100% owned Imperial Oxide Gold Deposit ("Imperial" or "Project"), located in California, USA. The work assessed various scenarios in response to the position by the Bureau of Land Management ("BLM") of the possible need to move project infrastructure as announced August 20, 2021. Economic modelling results for all scenarios were within the sensitivities of the April 6, 2020 positive Preliminary Economic Assessment ("PEA").

The work demonstrates that, regardless of the ultimate location of Imperial's processing infrastructure, Imperial has the potential to be a mid-tier gold mine with compelling project economics. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.