QUEBEC CITY, March 25, 2025--(BUSINESS WIRE)--Kobo Resources Inc. ("Kobo" or the "Company") (TSX.V: KRI) is pleased to provide a corporate update, highlighting recent insider participation through the exercise of stock options, as well as the completion of certain broker warrant exercises. The Company also provides an update on the exploration plans at its 100%-owned Kossou Gold Project ("Kossou") and broader Côte d’Ivoire portfolio.
Key Highlights
Comprehensive Analysis to Guide 20,000 – 30,000 m Drill Program: The Company, alongside its structural geologist Dr. Ghislain Tourigny, is analyzing results from the recently completed 10,000 metre ("m") diamond drill program to optimize plans for its largest drill program to date at Kossou, expected to begin in Q2 2025
Management and Board Signal Confidence in Growth Strategy: Since December 2024, management and directors have exercised 1,500,000 stock options, generating C$270,000 in proceeds; Additionally, nearly all broker warrants from the Company’s prior financing have been exercised, contributing an additional C$177,000
Regional Exploration Plans: Early-stage exploration continues at the Company’s Kotobi Permit ("Kotobi"), and preliminary grassroots work is underway as part of the two earn-in agreements with NESDAVE MINING SARL ("Nesdave")
Edward Gosselin, CEO and Director of Kobo commented: "As we prepare to launch our largest drill program to date in Q2 2025, we remain focused on systematically advancing the Kossou Gold Project and further defining its resource potential, reinforced by recent strong insider commitment to our strategy. At the same time, we are actively progressing regional exploration at our Kotobi Permit and initiating early groundwork on the Nesdave permits to expanding our footprint in Côte d’Ivoire’s highly prospective gold districts. As we move into this next phase of exploration, we look forward to building on our momentum and driving value through continued discovery."
Since December 2024, members of Kobo’s management team and Board of Directors have exercised a total of 1,500,000 stock options, generating approximately C$270,000 in proceeds, reflecting their continued confidence in the Company’s exploration progress and long-term growth strategy. Additionally, nearly all outstanding broker warrants from the Company’s previous financing have been exercised, contributing a further C$177,028 to Kobo’s treasury.
Following the completion of its 10,000 m diamond drilling program at Kossou in February 2025, the Company, in collaboration with its structural geologist Dr. Gislain Turnigoy, is conducting a detailed analysis of all results to refine its geological model and define priority drill targets. These findings will guide the next phase of drilling, set to begin in Q2 2025, with up to 30,000 m planned across high-priority gold targets. This will be the Company’s most extensive drill program to date, utilizing at least two diamond drill rigs and one reverse circulation rig.
Beyond Kossou, Kobo continues to advance exploration across its broader Côte d’Ivoire portfolio. At the Kotobi, early-stage exploration efforts are underway, including soil geochemical sampling, magnetic interpretation, and geological mapping. Additionally, under its previously announced earn-in agreements with Nesdave, covering 166.78 km² of highly prospective ground, the Company has initiated preliminary grassroots exploration on these licenses.
About Kobo Resources Inc. Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d'Ivoire, one of West Africa’s most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company’s 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region’s largest gold mines with established processing facilities.
With over 15,000 meters of diamond drilling, nearly 5,900 meters of reverse circulation (RC) drilling, and 5,900 meters of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou’s Gold Project. Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralization at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralization, setting the stage for the next phase of systematic exploration and resource development.
Beyond Kossou, the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d'Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo’s common shares trade on the TSX Venture Exchange under the symbol "KRI". For more information, please visit www.koboresources.com.
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Cautionary Statement on Forward-looking Information:
This news release may contain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements, including statements related to the expected timing of commencement and completion of our diamond drill program and the results of the drill program. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable as at the date of this news release, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inherent risks involved win the exploration and development of mineral properties; unanticipated costs and expenses; the delay or failure to receive board, shareholder or regulatory approvals; and other risk factors listed from time to time in our documents filed with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
