Preliminary Sampling Results on the Guiro Permit
PRESS RELEASE TSX-V : KMT.V For immediate release Outstanding shares: 40 255 047
PRELIMINARY SAMPLING RESULTS ON THE GUIRO PERMIT
Quebec, January 29, 2015 – Komet Resources Inc. ("Komet" or the "Company") announces the results of the preliminary sampling program carried out on the Guiro property that returned significant gold values. This sampling campaign was part of the due diligence in order to provide insight on the Guiro deposit potential as well as other known gold targets of the permit. The sampling of waste heaps from the former mill and stockpiles from the mine consisted of a composite of three sub-samples, of which two were collected at the base and one at the top of the different piles. The program also included grab samples on geological targets located elsewhere on the property.
The sampling of the mine stockpiles resulted in averages of 69.5 g/t Au and 5.35 g/t Au. Regional sampling produced averages of 9.2 g/t Au in Diouga, 19.2 g/t Au in Bayildiaga and 0.9 g/t Au at the Malorie quarry. These preliminary results confirm a high exploration potential on the Guiro license, which extends for 23 kilometers north of the mine (see technical report by Jacques Bertrand, dated July 7, 2014 and filed on SEDAR). These results will also be useful in planning the next exploration campaign. André Gagné, president and CEO, stated: "These excellent preliminary results are very encouraging and we look forward to the upcoming exploration campaign."
Detailed results of property and mine sampling:
| Sample ID _ | Description of Sample type | Weight (kg) | Results g/t Au | Average g/t Au |
|---|---|---|---|---|
| GR0001 | REJECT – KNELSON (over flow) | 3.5 | 5.911 | |
| GR0002 | REJECT – KNELSON (over flow) | 3.2 | 3.635 | |
| GR0003 | REJECT – KNELSON (over flow) | 3 | 4.065 | 4.537 |
| GR0004 | REJECT – KNELSON (under flow) | 3.7 | 1.884 | |
| GR0005 | REJECT – KNELSON (under flow) | 3.8 | 1.943 | |
| GR0006 | REJECT – KNELSON (under flow) | 3.1 | 1.861 | 1.896 |
| GR0007 | REJECT - VAT | 3.6 | 1.813 | |
| GR0008 | REJECT - VAT | 2.8 | 1.933 | |
| GR0009 | REJECT - VAT | 4.0 | 1.499 | 1.75 |
| GR0010 | MINE WASTE (Granodiorite) | 4.2 | 0.036 | |
| GR0011 | MINE WASTE (Quartz vein) | 2.8 | 0.029 | |
| GR0012 | MINE WASTE (Quartz vein) | 3.6 | 0.557 | 0.21 |
| GR0013 | ARTISANAL GOLD DIGGING DIOUGA | 0.8 | 17.597 | 17.6 |
| GR0014 | MALORIE QUARRY | 3.2 | 0.939 | |
| GR0015 | MALORIE QUARRY | 3.4 | 0.948 |
| GR0016 | MALORIE QUARRY | 3.1 | 0.744 | 0.88 |
| GR0017 | ARTISANAL GOLD DIGGINGS BAYILDIAGA 2 | 3.6 | 1.557 | |
| GR0018 | ARTISANAL GOLD DIGGINGS BAYILDIAGA 2 | 4.4 | 42.189 | |
| GR0019 | ARTISANAL GOLD DIGGINGS BAYILDIAGA 2 | 2.8 | 23.88 | 22.54 |
| GR0020 | ARTISANAL GOLD DIGGINGS BAYILDIAGA 1 | 3.3 | 28.186 | |
| GR0021 | ARTISANAL GOLD DIGGINGS BAYILDIAGA 1 | 3.1 | 0.007 | 14.1 |
| GR0022 | MINE STOCKPILE (LEVEL 3 AT 90m depth) | 2.5 | 55.097 | |
| GR0023 | MINE STOCKPILE (LEVEL 3 AT 90m depth) | 3.5 | 43.029 | |
| GR0024 | MINE STOCKPILE (LEVEL 3 AT 90m depth) | 2.7 | 110.306 | 69.48 |
| GR0025 | MINE STOCKPILE (LEVEL 4 AT 128m depth) | 2 | 2.886 | |
| GR0026 | MINE STOCKPILE (LEVEL 4 AT 128m depth) | 3.3 | 1.68 | |
| GR0027 | MINE STOCKPILE (LEVEL 4 AT 128m depth) | 3.7 | 11.469 | 5.35 |
| GR0028 | ARTISANAL GOLD DIGGINGS DIOUGA | 2.3 | 5.048 | |
| GR0029 | ARTISANAL GOLD DIGGINGS DIOUGA | 2.2 | 4.898 | 4.97 |
More information about the corporation is available at: http://kometgold.com
Investors relations and information: André Gagné. President and CEO 581-300-1666 / [email protected] / Skype : andregagne11
Forward-Looking Statements
Neither TSX Venture Exchange nor the regulatory service provider (as the term is defined in TSX Venture Exchange’s policies) accept any liability of any kind as to the authenticity or accuracy of this release. This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet Inc.’s (“Komet”) control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet’s management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events. or any other cause. except if it is required by securities laws. Jacques Marchand, P.Eng. Geo., is the Qualified Person who has reviewed this news release and is responsible for the technical information presented there, including verification of the data disclosed. The sampling were processed and analysed by the BIGGS laboratory at Ouagadougou, Burkina Faso.