KORE Provides Update ON Annual Financial Statements
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TSXV - KORE
KORE PROVIDES UPDATE ON ANNUAL FINANCIAL STATEMENTS
Vancouver, BC, May 15, 2025 – KORE Mining Ltd. (TSXV: KORE) (“KORE” or the “Company”) is providing
this update on the status of a management cease trade order granted on May 1, 2025 (the " MCTO") by
the British Columbia Securities Commission under National Policy 12 -203 – Management Cease Trade
Order ("NP 12-203"). On May 1, 2025, the Company announced that, for reasons disclosed in the news
release, there would be a delay in the filing of its financial statements and accompanying management’s
discussion and analysis for the fiscal year ended December 31, 2024 (t he "Annual Filings") beyond the
period prescribed under applicable Canadian securities laws (the "Default Announcement").
The Company reports that the audit is progressing and will provide a further update on the timing of its
Annual Filings on or about May 29, 2025. The Company is also progressing on completion of its interim
financial statements and accompanying management’s discussion and analysis for the first quarter ended
March 31, 2025, and will provide a further update on or about May 29, 2025. Further updates on timing
will be provided by the Company as necessary.
In addition to continuing to advance its ongoing assets, the Company may commence and complete a
consolidation of its outstanding common shares in accordance with applicable securities laws and stock
exchange policies.
During the MCTO, the general investing public will continue to be able to trade in the Company's listed
common shares. However, the Company's chief executive office and chief financial officer will not be
able to trade in the Company's common shares.
Other than as disclosed in this news release, there are no material changes to the information contained
in the Default Announcement. The Company confirms that it intends to satisfy the provisions of NP 12 -
203 and will continue to issue bi -weekly default status reports for so long as it remains in default of the
Annual Filings requirement.
About KORE Mining
KORE Mining is focused on responsibly creating value from its portfolio of gold assets in California, USA.
The Company is advancing the Imperial project towards development while continuing to explore across
both district-scale gold assets.
Further information on Imperial and KORE can be found on the Company’s website at
www.koremining.com or by contacting us as [email protected] or by telephone at (888) 407-5450.
On behalf of KORE Mining Ltd.
“James Hynes”
Executive Chairman and CEO
(888) 407-5450
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.
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TSXV - KORE
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company
and other statements that are not historical facts . Forward -looking statements are often identified by
terms such as "will", "may", "should", "anticipate", "expects", “intends”, “indicates” and similar
expressions. All statements other than statements of historical fact, included in this release, including,
without limitation, statements regarding the future plans and objectives of the Company are forward -
looking statements.
Forward-looking statements in this news release include, but are not limited to, statements with respect
to: the ability to advance exploration activities at the Imperial gold deposit; potential actions, behavior
or position of the BLM ; and the underexplored and prospective nature of the Imperial Regional
Exploration Drilling area. Such forward-looking statements, and any assumptions upon which they are
based, are made in good faith and reflect our current judgment regarding the direction of our business .
In connection with the forward -looking information contained in this presentation, the Company has
made numerous assumptions, including, among others: there being no significant change to current
geotechnical, metallurgical, hydrological and other physical conditions at the Imperial Project;
exploration, permitting, and development of the Imperial Project being consistent with current
expectations and planning; the geological, permitting and economic advice that the Company has received
is reliable and is based upon practices and methodologies which are consistent with industry standards;
and other planning assumptions. While the Company considers these assumptions to be reasonable,
these assumptions are inherently subject to significant uncertainties and contingencies.
Forward looking information involves known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by the forward -looking
information. Known risk factors include, among others: the outcome of BLM’s review processes for
permitting, including the final outcome(s) of BLM’s mineral claim validity examination(s) and
administrative review process(es) with respect to the Imperial Zone, including a change to the findings
from the mineral claim validity examination conducted in 2002 for the mill sites at the Imperial Zone,
resulting in the Company having to move its future Imperial Zone project support facilities to areas that
are not within the Indian Pass mineral withdrawal area; the possib ility that BLM may require and/or
conduct further mineral claim validity examinations with respect to the Imperial project, and the outcome
and final determination of such examination could, among other things, invalidate one or more mining
claims; the pos sibility that BLM or other governmental authority review of the Regional Exploration
Drilling program, delays or changes the Company’s plan for Regional Exploration Drilling permitting, which
could result, among other things, in delays, additional project requirements, additional costs and
uncertainty of meeting anticipated program milestones; the exploration drill program may not be
completed as planned; the need to obtain additional financing; uncertainty as to the availability and terms
of future financing; the possibility of delay in exploration or development programs and uncertainty of
meeting anticipated program milestones; uncertainty as to timely availability of permits and other
government approvals.
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TSXV - KORE
In addition to the above summary, additional risks and uncertainties are described in the “Risks” sections
of the Company’s Management’s Discussion and Analysis for the year ended September 30, 2024
prepared as of November 29, 2024 available under the Company’s issuer profile on SEDAR+ at
www.sedarplus.ca.
Forward-looking statements contained herein are made as of the date of this news release and the
Company disclaims any obligation to update any forward-looking statements, whether as a result of new
information, future events or results, except as may be required by applicable securities laws. There can
be no assurance that forward-looking information 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 forward-looking information.
There is no certainty that all or any part of the mineral resource will be converted into mineral reserve. It
is uncertain if further exploration will allow improving the classification of the Indicated or Inferred
mineral resource. Mineral resources are n ot mineral reserves and do not have demonstrated economic
viability.