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• Magnum enters into an agreement to take up a 50% share ownership of Middle East for Metallic Industrial (Midmetal)
• It is intended that Midmetal construct and operate a Green Pig Iron Production Facility in the Kingdom of Saudi Arabia
• It is also intended for Magnum Mining & Exploration Ltd to provide iron ore and biochar to the Green Pig Iron Production Facility.
• Costs associated with the construction and operation of the Green Pig Iron Production Facility will be shared equally between the Shareholders of Midmetal.
• A full financial model has not been completed at this stage due to the early phase the project is in and regulatory constraints. The Board of Magnum are satisfied that the project represents a compelling business case for development.

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Commenting on the exploration results, Chief Executive Officer Mr Grant Haywood said:

Although very early days at both our Yarmany East and Greenbushes Lithium projects, it is pleasing to have begun reconnaissance and early-stage work to increase our understanding in these areas in preparation for future drill test programmes, particularly at Yarmany East where we have previously identified approximately 14km of strike of unexplored lithium anomalies. In parallel, the Company is also considering potential strategic options for our emerging lithium assets.

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• Veteran gold exploration executive with over 35 years of experience appointed to Kobo’s Board of Directors 
• Mr. Edward Gosselin, Chief Executive Officer, and Mr. Paul Sarjeant, President and Chief Operating Officer to attend PDAC 2024 exhibiting at booth 3235

QUEBEC CITY, QC – Kobo Resources Inc. (“Kobo” or the “Company“) (TSX.V: KRI) today announces the appointment of Mr. Brian Scott to its Board of Directors (the “Board”) and the resignation of Mr. Charles Spector.

Frank Ricciuti, Chairman of Kobo commented: “As Kobo begins an exciting phase of growth with its exploration program in 2024, particularly the 5,000-metre diamond drill program planned for Q1 2024, the addition of Brian to Kobo’s Board of Directors promises to greatly benefit the Company, its employees and shareholders. Brian has gathered extensive exploration and resource estimation modelling experience during his distinguished mining career spanning over 35 years. During this time, his expertise was instrumental in the success of various large-cap gold companies such as B2Gold Corp. and Bema Gold Corp. (acquired by Kinross Gold in 2006), which will complement the Company’s efforts to move its 100%-owned Kossou Gold Project forward.” 

He continued: “On behalf of the entire Board and management, I would like to thank Charles for his many contributions during his tenure at Kobo. Charles was instrumental in helping the Company achieve its public listing and made the process as seamless as possible. Charles will remain as an advisor to the Board and we wish him continued success with his law practice in the future.”

“The Kossou Gold Project holds immense promise, and I am confident that my success in advancing similar gold projects will serve the Board well in developing Kobo into a successful gold company in the future,” commented Scott. “I am delighted to join Kobo’s Board of Directors and look forward to supporting the Company in the years to come.”

Brian Scott is a geologist with over 35 years of exploration and mine development experience across a wide variety of deposit types and political jurisdictions throughout the world. His experience encompasses a wide range of deposit types from high Andes porphyries (Cerro Casale and Refugio) to orogenic gold deposits (Venezuela, Canada, Finland, West Africa, Namibia, Uruguay, and South Africa) and epithermal deposits (Russia, Philippines, Central America). During his 30-year career with Bema Gold Corp. (acquired by Kinross Gold) and B2Gold Corp., he engaged in all phases of exploration, development, and mining within the Bema Gold Corp./B2Gold Corp. portfolio of properties. During this period, his responsibilities included providing geological guidance on exploration programs. He also managed B2Gold Corp.’s Technical Services Group and oversaw its in-house Technical Services Team’s geologic and resource estimation models. Mr. Scott retired from B2Gold Corp. at the end of 2023 where he served as VP Geology and Technical Services from 2015 to 2023. Prior to that, Mr. Scott was Chief Geologist for B2Gold Corp. from 2007 to 2014 and Chief Geologist for Bema Gold Corp. from 1996 to 2007. Mr. Scott holds a Bachelor of Science (Honours) degree in Geology from Lakehead University in Ontario.

Kobo Resources to Exhibit at PDAC 2024

The Company announces that it will be exhibiting at the annual 2024 Prospectors & Development Association of Canada (“PDAC”) convention at the Metro Toronto Convention Centre (MTCC). The Company invites interested PDAC attendees to visit its booth #3235 in the Investors Exchange, South Building during the in-person event from Sunday, March 3 to Wednesday, March 6, 2024.

Management will provide details of the successful exploration program at its 100%-owned Kossou Gold Project in 2023, following an initial phase of drilling and ongoing trenching activities that have yielded significant gold results across three distinct targets. Further, the Company will provide an overview of its exploration plans in the year ahead, beginning with a fully funded 5,000 m drilling program in Q1 2024.

PDAC is the world’s premier mineral exploration & mining convention and brings together professionals, governments, companies and organizations from around the world to explore the latest advancements in the mining industry through a wide range of programming, courses, and networking events.

Investors interested in attending the PDAC can register here: www.pdac.ca/convention/attend/registration. Kobo invites attendees to visit its booth where they will have the opportunity to engage directly with the Company’s management team and learn more about Kobo’s recent exploration efforts and upcoming plans.

Other Corporate Matters 

On December 1, 2023, the Company merged with its subsidiary Boko Resources Inc. in order to simplify its reporting obligations and reduce general and administrative costs.

Furthermore, effective in 2023, the Company changed its financial year-end from December 31 to March 31, 2024, to align the Company’s year-end with that of its subsidiary company and to facilitate financial reporting and the preparation of corporate tax returns. The change in year-end resulted in the Company filing a one-time, fifteen-month transition year covering the period of January 1, 2023 to March 31, 2024.

Grant of Options

The Company announces that it has granted 300,000 stock options (“Options”) to purchase common shares of the Company to Mr. Brian Scott, following his appointment as director of the Company, and 50,000 stock options (“Options”) to purchase common shares of the Company to Mr. Carmelo Marrelli, as CFO of the Company, pursuant to the Company’s 9.5% fixed stock option plan (the “Company’s Stock Option Plan”). Such Options are exercisable into common shares of the Company at an exercise price of $0.35 per common share for a period of 10 years from the date of grant as per the Company’s Stock Option Plan. These options will vest in equal tranches of twenty-five per cent (25%) every 3 months following their grant date. 

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Click here to read the full article on The West Australian

Commenting on the proposed merger, Horizon Chief Executive Officer Mr Grant Haywood said:

We believe this proposed merger represents a unique opportunity to build our resource base in the WA Goldfields with higher grade deposits near established mining and processing infrastructure. This really is a logical consolidation of complementary assets which creates greater potential for Horizon to unlock the value within our longer project pipeline. Following a period where we divested non-core assets and brought greater focus onto a pipeline of smaller, near-term cash generating mining opportunities, this merger with Greenstone will both add to this near-term pipeline and bring greater scale to our baseload assets with the addition of the high-grade Burbanks deposit.

Greenstone Resources Ltd Managing Director & CEO Mr Chris Hansen said:

There is a strong alignment between Greenstone’s strategy and that of Horizon, which is one of the core pillars underpinning this regional consolidation. Together we have greater capability to deliver on near-term cashflow generation which provides a stepping stone to delivering a longer-life, cornerstone operations fitting for an emerging mid-tier producer. Through the combination of our teams, we are also able to bring all the necessary skillsets at a Board and senior management level which will enable us to achieve our ambitions. When put together, the merged entity will be in a much stronger position to deliver value for both sets of shareholders.

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Dundas Minerals have released drilling results from the initial Windanya drilling program.

Highlights:

• Aquarius:
  • 3m @ 10.2 g/t Au from 109 metres (23WDRC012)
  • 2m @ 6.5 g/t Au from 70 metres (23WDRC011)
  • 1m @ 5.04 g/t Au from 49 metres (23WDRC006)
• Capricorn:
  • 3m @ 9.14 g/t Au from 114 metres (23WDRC003)
  • 3m @ 5.3 g/t Au from 28 metres (23WDRC004)
  • 1m @ 6.6 g/t Au from 25 metres (23WDRC005)
• Scorpio:
  • 2m @ 3.2 g/t Au from 9 metres (23WDRC024)
  • 1m @ 6.5 g/t Au from 49 metres (23WDRC026

Dundas Minerals Limited(ASX:DUN) (“Dundas Minerals”,”Dundas” or “the Company) is actively exploring for gold at the Baden-Powell & Windanya projects (north of Kalgoorlie), and for nickel, copper and gold at its Dundas project in the Albany-Fraser Orogen, Western Australia.

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Highlights

• Six (6) Reverse Circulation (RC) holes for 778m were completed at various prospects including Cannon North, Golden Ridge South, Kanowna South and Rundle Dam
• An updated underground (<260 m RL) Mineral Resource Estimate for Pennys Find has been compiled by the Company and stands at:
  • 429kt grading 4.57 g/t Au for 63,000 oz at a 1.5g/t Au lower grade cut-off
• Over 80% of the resource is in the Indicated Resource category and can be incorporated into the ongoing mine optimisation and underground design work. The Indicated Resource stands at:
  • 305kt grading 5.19 g/t Au for 51,000 oz at a 1.5g/t Au lower grade cut-off
• Bridgetown-Greenbushes reconnaissance and soil and rock chip sampling programme completed
• Aboriginal Heritage Surveys completed at Monument, Golden Ridge, Coote-Crake and Rose Hill
• Dewatering pipeline construction between Cannon and Golden Ridge underway
• Commenced Lithium Rights divestment process with numerous interested parties with support by advisors Argonaut PCF
• Cash at bank of A$5.7 million and listed investments totalling A$8.7 million

MARCH QUARTER ACTIVITIES

• Feasibility study for Pennys Find being undertaken with a maiden Ore Reserve expected in the June Quarter 2024
• Continue Cannon development re-tender process and contract negotiations
• New resources and scoping studies for open cut mining Monument and Pinner planned in 2024
• Target generation and planning of 2024 drill program and field season activities
• Bridgetown-Greenbushes soil and rock chip sampling programme assay results to be received and further programmes to be completed.

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