Toubani Resources Inc. announced further results from its resource definition drill program at its Kobada Gold Project in southern Mali. The Kobada project hosts 2.4 Moz in Mineral Resources which occurs over a 4.5km strike length and is predominantly oxide and open pittable. Toubani commenced a focussed resource definition drilling program in February 2024 to test key areas of near-surface, open pittable oxide mineralisation which falls within or immediately adjacent to preliminary pit designs.

To date 91 drill holes have been completed for a total of 9,309 metres. Target Drilling have made excellent progress with the drilling program and drilling is anticipated to be completed shortly. Results from the first 30 holes drilled were released on 25 March 2024 and successfully demonstrated the existence of shallow high-grade mineralisation in these areas, including a spectacular result of 71m at 1.86g/t gold, one of the top 20 intersections to date at Kobada (on a grammetre basis).

Results have now been received from a further 13 drillholes in the central portion of the Kobada deposit (Figure 1) with highlights including: 18m at 0.94g/t gold from 145m including 3m at 3.25g/t gold (KBRC24_031) 7m at 11.0g/t gold from 17m including 1m at 55.9g/t gold 9m at 1.10g/t gold from 51m (KBRC24_032) 1m at 29.0g/t gold from 32m 1m at 5.26g/t gold from 130m (KBRC24_033) 3m at 3.00g/t gold from 26m 1m at 6.01g/t gold from 53m 27m at 1.23g/t gold from 71m including 2m at 5.04g/t gold 21m at 2.97g/t gold from 105m including 1m at 12.0g/t gold and 10m at 4.37g/t (KBRC24_035) 3m at 1.55g/t gold from 8m (KBRC24_037) 13m at 1.85g/t gold from 35m 41m at 1.45g/t gold from 91m (KBRC24_041) 3m at 2.42g/t gold from 83m 5m at 0.50g/t gold from 145m (KBRC24_042) 28m at 1.71g/t gold from 122m including 4m at 6.34g/t gold (KBRC24_043) While results have yet to be incorporated into an updated geological interpretation, intersections to date appear to be broadly consistent with surrounding historical intersections. The closer spaced drill data is anticipated to increase the confidence in future resource estimations in this area, potentially resulting in increased inventories to inform mining studies in the forthcoming updated Definitive Feasibility Study ("DFS"). It is noticeable that the intersections in KBRC24_035 and KBRC24_043 contain discrete higher grade zones (10m at 4.37g/t and 4m at 6.34g/t respectively).

These higher grade zones have been intersected frequently during historical drilling at Kobada and the increased drilling density may assist in better delineating these zones in the forthcoming Mineral Resource Estimate.