Toubani Resources Inc. provided a summary of its Phase 1 exploration program in 2023 proximal to its Kobada gold deposit in southern Mali, following receipt of final assays. The Kobada Project hosts 3.1 Moz1 in Mineral Resources which occurs over a 4.5km strike length and is predominantly oxide and open pittable. Exploration drilling successfully extends the strike of gold mineralisation to 11km, up from 5km, with shallow, open pittable gold mineralisation intersected at all targets tested in the first phase of drilling for 2023.

Significant exploration upside remains with approximately 40km of the 50km+ regional-scale shear zones yet to be drill tested - Toubani has the dominant land position in the region controlling the footprint of these structures. Drilling results support Toubani's overall strategy of an oxide-dominant project of scale at Kobada by providing a pipeline of new oxide prospects for drill testing. Significant discovery at Kobada West with continuous, near surface oxide gold mineralisation delineated in maiden drilling, located 1km north-west from the Kobada Main Deposit.

Significant strike extension to drill-defined mineralisation at Kobada North, Kobada South and Gosso. Confirmation of a new discovery at Kobada East, confirming maiden auger intercepts from 2022. Review of fresh rock potential below current oxide resource at the Kobada Main deposit supports potential for significant resource growth with mineralisation open down dip and along the entire strike extent below the current average drill depth of 110m.

Drill programs planned for 2H 2023 to include both resource and regional drilling campaigns to convert Inferred Resources to Indicated and to advance regional discoveries towards maiden resources. Toubani's dual-track strategy to unlock Kobada to continue with drill programs in 2H 2023 to form an integral part of the Company's DFS Update due later this year.