KALO GOLD Discovers Seven Epithermal GOLD Targets Along the 100% Owned, District-Scale Namalau Trend, Vatu Aurum Project, Fiji

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Kalo Gold Corp.

Suite 1507, 1030 West Georgia Street

Vancouver, British Columbia

V6E 2Y3, Canada

www.kalogoldcorp.com

(TSX.V: KALO)

KALO GOLD DISCOVERS SEVEN EPITHERMAL GOLD TARGETS

ALONG THE 100% OWNED, DISTRICT-SCALE NAMALAU TREND,

VATU AURUM PROJECT, FIJI

VANCOUVER, BRITISH COLUMBIA, CANADA: NOVEMBER 7, 2024, KALO GOLD CORP. (“Kalo”, “Kalo Gold” or the

“Company”) is pleased to provide an exploration update on its 100% owned, 370 sq km Vatu Aurum Project, Fiji. The Company

has made significant progress and an exploration breakthrough in identifying a large epithermal greenfield system with

associated gold targets along the Namalau Trend that lies within the >28 km long Nubu Graben, a back arc basin.

Key Highlights:

 Geological and geochemical exploration work has documented seven new prospective “epithermal upwelling zones”

along the 1.5 km long Namalau Trend that lies within the highly prospect ive >28 km long Nubu Graben. These

promising targets for gold mineralization are characterized by extensive hydrothermal sinters on surface that are

coincident with elevated selenium, mercury and arsenic in soils – a typical geochemical fingerprint of epithermal

gold deposits. The implied volume of hydrothermal fluid flow is evidence of a very large system.

 Elevated selenium, mercury and arsenic are three volatile elements associated with epithermal gold deposits

typically occurring 100 to 150 meters above the primary precious metal mineralization and are powerful vectoring

tools that have been applied to develop targets.

 Dua Target trenching has uncovered quartz veins hosted in a hydrothermal breccias associated with significant high-

temperature alteration, typical of epithermal gold deposits (photo 1, 2, 3 and 4).

 Soil sampling at Vatu Aurum has proven to be highly effective and an economic exploration method; Kalo has

embarked on a program to collect an additional 8,000 soil samples to expand from the Namalau Trend and to cover

a total of 11 sq km of the Nubu Graben to rank and prioritize targets by the end of December.

 Kalo plans to conduct additional trenching and drilling of the top priority targets during the first quarter of 2025.

"The new exploration targets and insights we have gained along the Namalau Trend from our field work are extremely

encouraging and validate our conviction that we have a highly prospective potential large greenfield epithermal gold system

on the Vatu Aurum Project," commented Te rry L. Tucker, P.Geo., CEO of Kalo Gold. "We are excited to accelerate our field

work and drilling plans as we strive to ef ficiently vector toward additional major epithermal upwelling zones and unlock the

district-scale gold endowment of this highly prospective gold region of Fiji."

Exploration Program Detail

The Namalau Trend is located within the highly prospective Nubu Graben Fault Zone (“NGFZ”). The NGFZ is a major geological

corridor running northeast through Vanua Levu, the north island of Fiji, shaped by historic rotational tectonic movements

from the Pacific Plate. Geophysical surveys indicate that th e NGFZ features steeply dipping faults, potentially extending

several kilometers into the Earth's crust.

Geological and geophysical studies in 2024 have identified a series of northwest-southeast trending structures that offset the

NGFZ and create dilational zones. These zones, which are filled with brecciated host rocks (including conglomerates and

limestones), show signs of significant rotati on and are enriched with a high proporti on of matrix material. These conditions

facilitate the flow of fluids along fault zones, enabling the deposition of metals in the matrix between the rock clasts.

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An analysis of 929 soil samples collected at 20-meter interva ls along the 1.5 km Namalau Trend has highlighted seven new

prospective “epithermal upwellin g zones”, which correspond to soil geochemica l anomalies (Figure 1). Notably, acidic

upwelling fluids have been shown to deplete elements such as potassium while enriching selenium (up to 4.4 ppm) (Figure 2

to 3). This geochemical signature suggests that the fluids are sourced from deep in the crust, rather than from shallow plutons.

The targets are also marked by anomalous mercury (up to 68 ppm) and arsenic (up to 730 ppm) levels, two volatile elements

typically associated with epithermal deposits found 100 to 150 meters above the primary precious metal mineralization.

At the southwestern end of the Namalau Trend, the Dua Targ et (Figure 4) has emerged as a prominent area for further

investigation. Geochemical anomalies in this area extend over a 300m by 350m area and are associated with surface features

such as a low dome-shaped hill, sinter deposits from ancient hydrothermal springs and vuggy silica outcrops. A series of 12

trenches totaling 956 meters were excavated in the Dua Targ et, intersecting prospective sa prolite layers and following

geochemical trends such as anomalous selenium concentrations in soils. The trenching revealed significant alteration from

high-temperature, acidic vuggy silica to lo wer-temperature propylitic alteration zo nes at the periphery, consistent with a

high-sulphidation epithermal system.

Additionally, the trenches intercepted 32 s ilicified quartz veins, ranging from 0.7 mete rs to 4.1 meters in thickness. These

veins display a sigmoidal pattern—indicative of dilational environments—which had not been identified in prior trenching

campaigns. Historical assays from earlier trenching returned gold grades of up to 3.64 grams per ton (g/t) along the proposed

strike of these newly identified sigmoidal veins. Samples from these veins are being collected and sent for detailed assay

analysis at ALS Labs in Australia.

Exploration at the Namalau Trend will continue with further trenching across the seven identified target zones, with the goal

of constructing a regional geological, geochemical and structural interpretation and assessing the potential for precious metal

mineralization at depth. Drilling is planned for early 2025.

Building on the success of the soil sampling program, the Company is now expanding its exploration efforts with an additional

8,000 soil samples being collected at 20-meter spacings to co ver other promising areas covering over 11 sq km, including

Qiriyaga Hill, Vuinubu Ridge, Vunisea an d Vunikulukulu targets. This continued work underscores Kalo’s commitment to

rapidly advancing its exploration activities in this highly prospective region and unlocking the potential for substantial precious

metal discoveries.

ABOUT KALO GOLD CORP.

Kalo Gold Corp, a gold exploration company, is focused on exploration for epithermal gold deposits on the Vatu Aurum Project

located on the island of Vanua Levu (North Island) in the Republic of Fiji. Kalo holds a 100% interest in two Special Prospecting

Licenses, covering 367 km 2 that hosts a regional scale back arc basin, the Nubu Graben, and severa l volcanic arc related

calderas. Historical exploration work concentrated on the Qiriyaga Hill and Vuinubu Ridge Gold Deposits and resulted in the

identification of numerous priority epithermal gold exploration targets.

Both Viti Levu, (South Island), and Vanua Levu are on the prolif ic Pacific “Ring of Fire”, a trend that has produced numerous

large deposits, including Porgera, Lihir, Grasberg, Martha Mine in New Zealand and on Viti Levu (South Island), the exceptional

Vatukoula Gold Mine. The Vatukoula Gold Mine has produced more than 7 millio n ounces of gold since 1937 and continues

operations today. The island of Viti Levu also hosts the fully permitted Tuvatu Al kaline Gold Project, where a high-grade

underground gold mining operation has been fast tracked to production.

Qualified Person

The technical information in this news release was reviewed an d approved by Andrew Randell, P. Geo a qualified person as

defined by National Instrument 43-101 of the Canadian Securities Administrators.

On behalf of the Board of Directors of Kalo Gold Corp.

Terry L. Tucker, P.Geo

President and Chief Executive Officer and Director

and

Kevin Ma, CPA, CA

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Executive Vice President, Capital Markets and Director

For more information contact, please write to [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Pr o v i d e r ( a s t h a t t e r m i s d e f i n e d i n t h e p o l i c i e s o f t h e

Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward Looking Statements Disclaimer

Certain statements in this release are fo rward-looking statements, which are statemen ts that are not purely historical, includi ng any

statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include

statements relating to the Company’s intention with the use of proceeds and the Company’s plans for future exploration on the Vatu Aurum

Gold Project. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar

expressions. All statements included in th is news release, other than statements of historical fact, are forward-looking statem ents that

involve risks and uncertainties. There can be no assurance that su ch statements will prove to be accurate and actual results, a nd future

events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially

from the Company’s expectations include quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain

any necessary permits, consents or authorizations required for its activities, the Company’s inability to raise the necessary capital to be fully

able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s filing statement dated February 9,

2021 and latest interim Management Discussion and Analysis filed with certain securities commissions in Canada.

The reader is cautioned that assumptions used in the preparation of any forward-looking statements herein may prove to be incor rect.

Events or circumstances may cause actual results to differ materially from those pred icted, as a result of numerous known and u nknown

risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to pl ace undue

reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation,

may prove to be incorrect, and actual results may differ materia lly from those anticipated. Forw ard-looking statements contained in this

news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made

as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statemen ts as

expressly required by Canadian securities law.

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Figure 1 – seven distinct epithermal fluid upwelling zones have been defined along 1.5 km of the Namalau Trend with

historical trench sample results.

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Figure 2 – distinct depletion of K in soils.

Figure 3 – distinct enrichment of Se in soils – indicating a deep fluid source.

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Figure 4 – Dua Target epithermal veins show a distinct sigmoidal shape with excellent continuity over a 300m by 350m area.

Photo 1 – resistant epithermal quartz vein –

approximately 75 cm below the surface with

coincident selenium in soils.

Photo 2 – Andy Randell and Caley Dunlop mapping two resistant

parallel epithermal veins in trench – VA-24-11.

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Photo 3 - significant alteration related to a proximal

hydrothermal vent and sinter zones related to high-

temperature fluids associated with acidic vuggy

silica

Photo 4 – epithermal vein