KORE:CC - KORE Provides Update on Annual Financial Statements
(TheNewswire)
Vancouver, BC – TheNewswire - May 29, 2025 –KORE Mining Ltd. (TSXV: KORE) (“ KORE ” or the“ Company ”) is providing this update on the status of a managementcease trade order granted on May 1, 2025 (the " MCTO ") by theBritish Columbia Securities Commission under National Policy 12-203– Management Cease Trade Order (" NP 12-203 "). OnMay 1, 2025, the Company announced that, for reasons disclosed in thenews release, there would be a delay in the filing of its financialstatements and accompanying management’s discussion and analysis forthe fiscal year ended December 31, 2024 (the " Annual Filings ")beyond the period prescribed under applicable Canadian securities laws(the " DefaultAnnouncement ").
Due to the additional procedures and complexities inauditing certain transactions for the 2024 fiscal year, the auditprocess requires additional time for partner and consultant review toensure compliance with enhanced measures. As a result, the Companywill not meet the previously announced filing deadline of May 31,2025, for the Annual Filings, as state in the May 1, 2025, newsrelease. With the British Columbia SecuritiesCommission’s initial approval, the Company now expects to file theAnnual Filings on or before June 30, 2025, withthe financial statements and accompanyingmanagement’s discussion and analysis for the three months endedMarch 31, 2025 (the “ InterimFilings ”) being due forfiling within 5 business days after the Annual Filings have beenfiled.
The Company reports that the audit is progressing andwill provide a further update on the timing of its Annual Filings onor about June 12, 2025. The Company is also progressing on completionof its Interim Filings, and will provide a further update on or aboutJune 12, 2025. Further updates on timing will be provided by theCompany as necessary.
During the MCTO, the general investing public willcontinue to be able to trade in the Company's listed common shares.However, the Company's chief executive office and chief financialofficer will not be able to trade in the Company's common shares.
Other than as disclosed in this news release, there areno material changes to the information contained in the DefaultAnnouncement. The Company confirms that it intends to satisfy theprovisions of NP 12- 203 and will continue to issue bi-weekly defaultstatus reports for so long as it remains in default of the AnnualFilings requirement.
KORE Mining is focused on responsibly creating valuefrom its portfolio of gold assets in California, USA. The Company isadvancing the Imperial project towards development while continuing toexplore across both district-scale gold assets.
Further information on Imperialand KORE can be found on the Company’s website at www.koremining.com or bycontacting us as info@koremining.com or bytelephone at (888) 407-5450.
On behalf of KORE Mining Ltd.
“ JamesHynes”
Executive Chairman and CEO
(888) 407-5450
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Cautionary StatementRegarding Forward-Looking Information
This news release contains forward-looking statementsrelating to the future operations of the Company and other statementsthat are not historical facts. Forward-looking statements are oftenidentified by terms such as "will","may", "should", "anticipate","expects", “intends”, “indicates” and similarexpressions. All statements other than statements of historicalfact, included in this release, including, without limitation,statements regarding the future plans and objectives of the Companyare forward-looking statements.
Forward?looking statements in this news release include, but are notlimited to, statements with respect to: the ability to advanceexploration activities at the Imperial Gold Project and the Long ValeyProject; the potential to expand or upgrade the mineralresources at the Imperial Project and the Long Valey Project throughongoing or future exploration programs; and the anticipated outcomesof further exploration efforts to improve the classification ofIndicated or Inferred mineral resources at the Imperial Project andthe Long Valey Project . Such forward?looking statements,and any assumptions upon which they are based, are made in good faithand reflect our current judgment regarding the direction of ourbusiness. In connection with the forward?looking informationcontained in this presentation, the Company has made numerousassumptions, including, among others: there being no significantchange to current geotechnical, metallurgical, hydrological and otherphysical conditions at the Imperial Project or the Long Valey Project;exploration, permitting, and development of the Imperial Project beingconsistent with current expectations and planning ; the geological, permitting and economic advice thatthe Company has received is reliable and is based upon practices andmethodologies which are consistent with industry standards; and otherplanning assumptions. While the Company considers these assumptionsto be reasonable, these assumptions are inherently subject tosignificant 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 differentfrom any future results, performance or achievements expressed orimplied by the forward?looking information. Known risk factorsinclude, among others: the exploration drill program may not becompleted as planned; the exploration programs may notresult in the discovery of new mineral resources or the successfulupgrading of existing mineral resources; mineral resource estimatesmay not be accurate or may be reduced based on future explorationresults; the need to obtain additional financing; uncertaintyas to the availability and terms of future financing; the possibilityof delay in exploration or development programs and uncertainty ofmeeting anticipated program milestones; uncertainty as to timelyavailability of permits and other government approvals.
In addition to the above summary, additional risks anduncertainties are described in the “Risks” sections of the Company’s Management’s Discussion andAnalysis for the nine months ended September 30, 2024 prepared as ofNovember 29, 2024 available under theCompany’s issuer profile on SEDAR+ at www.sedarplus.ca .
Forward-looking statements contained herein are made asof the date of this news release and the Company disclaims anyobligation to update any forward-looking statements, whether as aresult of new information, future events or results, except as may berequired by applicable securities laws. There can be no assurancethat forward-looking information will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should notplace undue reliance on forward-looking information.
There is no certainty that all or any part of themineral resource will be converted into mineral reserve. It isuncertain if further exploration will allow improving theclassification of the Indicated or Inferred mineral resource. Mineralresources are not mineral reserves and do not have demonstratedeconomic viability .
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