Kiboko Gold Provides Corporate Update
KIBOKO GOLD INC.
#201 – 1405 St Paul Street
Kelowna, British Columbia V1Y 2E4
+1 (778) 381-5949
www.kibokogold.com
All amounts are in Canadian dollars, unless otherwise stated.
Kiboko Gold Provides Corporate Update
Kelowna, British Columbia ( October 18, 2023) – Kiboko Gold Inc. (TSXV: KIB) (“Kiboko” or the “Company”)
reports that the resource evaluation from its Phase 1 exploration program for its Harricana Gold Project is
approaching completion. The Company is actively working with the independent Qualified Person (“QP”) to
complete the process necessary for reporting a mineral resource, which is expected to be completed soon.
Kiboko’s President and CEO, Jeremy Link, commented , "While we had previously anticipated reporting the
results near the middle of October, delays have extended the time to complete the review process. As we work
closely with the independent QP, Kiboko has embarked on the detailed planning for our next drill program. We
look forward to sharing the results of the resource evaluation, which will provide a foundation for our future
exploration plans."
The evaluation process is based upon a comprehensive dataset totaling more than 85,000 m, including 70 holes
(totaling 11,269 m) drilled by Kiboko between September 2022 and April 2023. The resource evaluation process
has been integral to updating geological models, improving the understanding of the geological framework,
and replacing Kiboko’s exploration model with a grade-tonnage model.
About the Harricana Gold Project
Kiboko’s Harricana Gold Project is a consolidated 10 0+ km2 prospective mineral claim package that is located
55 km north of Val -d’Or, Québec, in the world-renowned Abitibi greenstone belt. Historical records compiled
and digitized by Kiboko into a new geospatial dataset include data from 937 historical diamond dr illholes
totalling 139,397 m and 70 drillholes totalling 11,269 m drilled by Kiboko between September 2022 and April
2023, for a grand total of more than 150,000 m of drilling.
The Harricana Project benefits from an exceptional location, close to operating mines, with excellent access
and proximity to existing infrastructure, including a major highway , rail, and clean, low -cost, renewable
hydroelectric grid power. The Harricana Project also benefits from low royalty coverage with the most
significant royalty being a 2% NSR production royalty held by Globex Mining Enterprises Inc. on 195 claims
covering an area of 85 km2, which includes the areas drilled in the Company’s Phase 1 drill program.
Additional information about Kiboko and its Harricana Gold Project can be found on SEDAR + at
www.sedarplus.ca and on the Company’s website at www.kibokogold.com.
Qualified Person
Mr. Ivor W.O. Jones, B.Sc. (Hons), M.Sc., FAusIMM, P. Geo., (OGQ Special Authorization Permit 74658), Kiboko’s
Vice-President, Technical Services & Project Evaluation, has reviewed and approved the pertinent technical or
scientific information contained in this news release. Mr. Jones is the Company’s designated “Qualified Person”
as defined by Canadian Securities Administrators within the meaning of National Instrument 43-101 Standards
of Disclosure for Mineral Projects (“NI 43-101”).
Trading Symbol: TSXV: KIB
2 | KIBOKO GOLD INC.
About Kiboko Gold Inc.
Kiboko is a Canadian-based exploration company focussed on advancing its 100+ km2 Harricana Gold Project,
located 55 km north of Val -d’Or, Québec , within the world -renowned southern Abitibi gold belt . Kiboko’s
shares trade on the TSX Venture Exchange under the symbol “KIB”.
For further information, please contact:
Jeremy Link
President and CEO
+1 (778) 381-5949 x 1
Brad Boland
Executive Vice-President & CFO
+1 (778) 381-5949 x 2
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes certain “forward -looking statements” which are not comprised of historical facts. Forward looking
statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to
the effect that the Company or management expects a stated condition , belief, estimate or opinion, or result to occur. Forward
looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “interpreted”, “pending”, “suggests”,
“preliminary”, “estimates”, “confident”, “may”, “aims”, “targets”, “could”, “would”, “will”, or “plans” and similar expressions, or
that events or conditions “will, “would”, “may”, “can”, “could” or “should” occur, or are those statements, which, by their nature,
refer to future events. Since forward-looking statements are based on assumptions and address future events and conditions, by
their very nature they involve inherent risks and uncertainties. Although these statements are based upon information currently
available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks,
uncertainties, and other factors involved with forward -looking information could cause actual events, results, performance,
prospects and opportunities to differ materially from those expressed or implied by such forward looking information.
Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans,
statements, exploration results, assay results, re-assay results, potential mineralization, the interpretation of drilling and assay
results, the results of the drilling program and other analytical test work, mineralization and the discovery of zones of high-grade
or moderate-grade mineralization, verification of historical drilling results ; the Company’s cost estimates and plans to execute
and complete its Phase 1 exploration program including the completi on of a maiden mineral resource; future exploration and
mine development plans; future news releases by the Company, and the funding of the exploration program, and the timing of
the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially
from such forward-looking information include, but are not limited to failure to identify mineral resources, the preliminary nature
of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project
approvals, political risks, inability to fulfill the duty to accommodate First Nations and other Indigenous peoples, uncertai nties
relating to the availability and costs of financing needed in the futur e, changes in equity markets, inflation, scarcity and cost of
skilled and unskilled labour, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects,
capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and
development industry, an inability to predict and counteract the effects of COVID -19 on the business of the Company, including
but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and travel
and supply chains, and those risks set out in the Company’s public documents filed on SEDAR +. Although the Company believes
that the assumptions and factors used in preparing the forward -looking information in this news release are reasonable, undue
reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance c an
be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than
as required by law.