Kore Announces Late Filing of Annual Financial Statements and Management Cease Trade Order

(TheNewswire)

Vancouver, BC – TheNewswire - May 01, 2024 –KORE Mining Ltd. (TSXV: KORE) (“KORE” or the “Company”)announces today that as a result of delays to its audit, theCompany’s annual financial statements and accompanying management'sdiscussion and analysis for the fiscal year ended December 31, 2024(the “Annual Filings”) the Company has determined that they maynot be able to file the Required Filings by the Filing Deadline asrequired by Part 4 of National Instrument 51-102 Continuous DisclosureObligations.  The reason for the anticipated delay is due to the latecommencement of the audit process, which was caused by the Issuer’sfinancial constraints. These constraints resulted in outstanding feesowned to the third-party service provider, which in turn delayed thepreparation of key accounting records required for the audit. TheIssuer has since secured the necessary funding to satisfy theoutstanding obligations and has now re-engaged both its serviceprovider and auditor to proceed with the audit process. The Company isworking with its auditor (Davidson & Company LLP) to complete theaudit in a timely manner.

The Company currently expects to file the AnnualFilings on or before May 31, 2025 and will issue a news releaseannouncing completion of such filings at such time. Until the Companyfiles the Annual Filings, it will comply with the alternativeinformation guidelines set out in National Policy 12-203 –Management Cease Trade Order for issuers who have failed to complywith a specified continuous disclosure requirement within the timesprescribed by applicable securities laws. The guidelines, among otherthings, require the Company to issue bi-weekly default status reportsby way of a news release so long as the Annual Filings have not beenfiled.

In addition to continuing to advance its ongoingassets, the Issuer may commence and complete a consolidation of itsoutstanding common shares in accordance with applicable securitieslaws and stock exchange policies.

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.

AboutKORE Mining

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 by contactingus 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 similar expressions.  Allstatements other than statements of historical fact, included in thisrelease, including, without limitation, statements regarding thefuture plans and objectives of the Company are forward-lookingstatements.

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 deposit; potentialactions, behavior or position of the BLM ; and the underexplored and prospective nature of theImperial Regional Exploration Drilling area.   Such forward?lookingstatements, and any assumptions upon which they are based, are made ingood faith and reflect our current judgment regarding the direction ofour business.  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; exploration, permitting,and development of the Imperial Project being consistent with currentexpectations and planning; the geological, permitting and economicadvice that the Company has received is reliable and is based uponpractices and methodologies which are consistent with industrystandards; and other planning assumptions.  While the Companyconsiders these assumptions to be reasonable, these assumptions areinherently 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 differentfrom any future results, performance or achievements expressed orimplied by the forward?looking information.  Known risk factorsinclude, among others: the outcome of BLM’s review processes forpermitting, including the final outcome(s) of BLM’s mineral claimvalidity examination(s) and administrative review process(es) withrespect to the Imperial Zone, including a change to the findings fromthe mineral claim validity examination conducted in 2002 for the millsites at the Imperial Zone, resulting in the Company having to moveits future Imperial Zone project support facilities to areas that arenot within the Indian Pass mineral withdrawal area; the possibilitythat BLM may require and/or conduct further mineral claim validityexaminations with respect to the Imperial project, and the outcome andfinal determination of such examination could, among other things,invalidate one or more mining claims; the possibility that BLM orother governmental authority review of the Regional ExplorationDrilling program, delays or changes the Company’s plan for RegionalExploration Drilling permitting, which could result, among otherthings, in delays, additional project requirements, additional costsand uncertainty of meeting anticipated program milestones; theexploration drill program may not be completed as planned; the need toobtain additional financing; uncertainty as to the availability andterms of future financing; the possibility of delay in exploration ordevelopment programs and uncertainty of meeting anticipated programmilestones; uncertainty as to timely availability of permits and othergovernment 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 year ended September 30, 2024 prepared as of November29, 2024 available under the Company’s issuerprofile 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 .

Copyright (c) 2025 TheNewswire - All rights reserved.