Toronto, Ontario--(Newsfile Corp. - March 27, 2025) - KO Gold Inc. (CSE: KOG) ("KO Gold" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 10,000,000 units ("Units") to be issued at a price of C$0.20 per Unit for gross proceeds up to C$2,000,000 (the "Private Placement"). Each Unit will be comprised of one common share (each a "Share") and one transferable common share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share at a price of C$0.25 for a period of two (2) years from issuance.
Proceeds received from the Private Placement will be used for general working capital purposes and to fund the Company's ongoing exploration and drilling programs in the Otago Gold District in New Zealand.
Finder's fees of cash and Warrants issued on the same terms as noted above may be paid to qualified parties. All securities will be will be subject to a statutory hold period of four months and one day from issuance.
Drilling Program Update - Otago Gold District
The Company plans to complete reverse circulation (RC) and diamond drill holes on its Carrick, Hyde, Smylers, and Glenpark exploration permits as soon as a drilling contractor has been selected, and all drilling permits and private land access agreements have been obtained. This drilling program will focus on:
(1) Priority: the discovery of high-grade mineralized shear zones or lode gold within the Carrick Goldfield, which is located southwest of Santana Minerals Rise & Shine Shear Zone ("RSSZ") of the Bendigo-Ophir Project, and
(2) Testing the mineralized extensions of the Hyde-Macraes Shear Zone ("HMSZ") adjacent to OceanaGold's active Macraes Gold Mine (Figure 1).
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Figure 1: KO Gold's permits in Otago Gold District, New Zealand
All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, P.Geo., Vice President of Exploration and Director of KO Gold, and a Qualified Person as defined by NI 43-101.
About KO Gold Inc.
KO Gold is a Canadian junior exploration company listed on the CSE under "KOG". The Company's strategy is to acquire and explore highly prospective gold properties within the Otago Gold District in New Zealand. KO Gold has eight 100%-owned prospecting and exploration permits within the Otago Gold District for a combined land package of 740 km2. The Company's Smylers and Glenpark EPs are located adjacent to OceanaGold's Macraes Gold Mine and the Carrick EP hosts the historic Carrick Goldfield which holds promise as a significant gold deposit near Santana Minerals' Bendigo-Ophir Gold Project. KO Gold has spent over C$3M in exploration and drilling on its permits in the Otago Gold District over the past five years including RC and diamond drilling on its Smylers EP.
KO Gold Inc. Suite 802 - Sun Tower, 1550 Bedford Highway Bedford, Nova Scotia B4A 1E6 Canada
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This news release contains certain "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "may," "will," "would," "potential," "proposed" and other similar words or statements that certain events or conditions "may" or "will" occur. These forward-looking statements include, but are not limited to, statements regarding the completion of the proposed Private Placement, the intended use of proceeds, and the possible payment of finder's fees. Forward-looking statements are based on the opinions, assumptions and estimates of management at the date the statements are made and are subject to a variety of known and unknown risks, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, the Company's ability to complete the Private Placement on the terms announced (or at all), the receipt of all necessary approvals, market conditions, and the ability to use the proceeds as intended. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Readers are cautioned against attributing undue certainty to forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Actual events or results could differ materially from the Company's expectations or projections.
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