KORE Announces Reinstatement of Trading and Corporate Updates

(TheNewswire)

Vancouver, BC – TheNewswire - September 24,2025 – KORE Mining Ltd. (TSXV: KORE)(“ KORE ” or the “ Company ”) is pleasedto provide an update on its reinstatement to trading on the TSXVenture Exchange (the “ Exchange ”), and corporate updates.

Reinstatement to Trading on theExchange

KORE announces that, following the successfulresolution of the Failure-to-File Cease Trade Order issued by theBritish Columbia Commission (the " BCSC ") on July18, 2025, and revoked by the BCSC on August 5, 2025, the Exchange hasaccepted the Company’s application for reinstatement to trading. TheCompany’s common shares (the “ Common Shares ”) areexpected to be reinstated to trading on the TSXV under the currentticker symbol of KORE in the coming days, subject to finalconfirmation of the Exchange.

Working capital deficiency

As of June 30, 2025, the Company had a working capitaldeficiency, as detailed in the condensed interim consolidatedfinancial statement for six months ended June 30, 2025 available toreview at www.sedarplus.ca. Following the reinstatement, the Companyintends to complete a non-brokered private placement of Common Sharesto improve its financial position and address the deficiency.

Notwithstanding that this item has previously beendisclosed in financial statements of the Company, the Exchange hasrequested that the Company provide these disclosures in connectionwith KORE’s reinstatement review process with the Exchange, all inaccordance with TSXV policies.

Loan Agreement

KORE discloses that on August 23, 2023, it entered intoa loan agreement with Karus Gold Corp. (the “ Karus ”), a relatedparty at the time due to a common director, James Hynes. The LoanAgreement, which was subject to the Exchange’s acceptance anddisclosed in KORE’s interim and annual filings, provided KORE withloans totaling US$225,000 (the “ Principal Amount ”),non-interest-bearing until the maturity date of October 12, 2023 (the“ Maturity Date ”). As the Principal Amount was not repaid by the MaturityDate, the Company issued a promissory note to Karus on August 23,2023. Under the promissory note, the Principal Amount bears interestat a rate of 10% per annum until fully repaid. During the year endedDecember 31, 2024, Karus demanded repayment. The Company is in theprocess of negotiating a settlement with Karus. As at June 30, 2025,the outstanding loan balance, including accrued interest, wasCAD$359,699. At the time of the Loan Agreement,James Hynes served as a director of both the Company and Karus,rendering the transaction a related party transaction under applicablesecurities laws. Mr. Hynes resigned from all positions with Karus onMarch 13, 2024.

This disclosure is being reiterated as part of KORE’sreinstatement review process with the Exchange, in accordance withTSXV policies, to ensure full compliance and transparency withshareholders regarding previously reported financialobligations.

Share Consolidation

The Company also announces that further to its newsrelease dated August 9, 2025, it has received the Exchange approval toconsolidate all of the Company’s issued and outstanding CommonShares on the basis of one (1) new Common Sharefor every five (5) outstanding Common Shares (the “ Consolidation ”).

The effective date of the Common Shares on apost-Consolidation basis on the Exchange is expected to be on or aboutSeptember 29, 2025 (the “ Record Date ”). The new ISIN/CUSIP numberassigned to the Common Shares following the Consolidation will beCA50067K3082/ 50067K308, respectively. TheCompany does not intend to change its current name of “Kore MiningLtd.” or its current trading symbol of “KORE” in connection withthe proposed Consolidation.

The Consolidation is expected to result in the numberof issued and outstanding Common Shares being reduced from 202,426,357outstanding Common Shares to approximately 40,485,271 new CommonShares (subject to any differences due to rounding). No fractional Common Shares will be issued as a result of theConsolidation. Any fractional share less than one-half of a CommonShare will be cancelled, and any fractional share equal to or greaterthan one-half will be rounded up to the nearest whole share. Incalculating such fractional interests, all Common Shares held by abeneficial holder shall be aggregated. No cash consideration will bepaid in respect of fractional shares. The exercise or conversion priceand the number of Common Shares issuable under any of the Company’soutstanding convertible securities will be proportionately adjustedupon the Consolidation.

Shareholders of the Company as at the Record Date willreceive a letter of transmittal providing instructions for theexchange of existing share certificate(s) evidencing pre-ConsolidationCommon Shares for new share certificate(s) representing the number ofpost-Consolidation Common Shares to which they are entitled, as soonas practicable following Record Date.

Pursuant to the provisions of the Business CorporationsAct (British Columbia) and the Articles of the Company, theConsolidation was approved by way of resolutions passed by the boardof directors of the Company.

About KORE 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 containsforward-looking statements relating to the future operations of theCompany 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 thanstatements of historical fact included in this news release,including, without limitation, statements regarding the anticipatedreinstatement of trading of the Company’s common shares on the TSXVenture Exchange (the “TSXV”), the Company’s intention tocomplete a non-brokered private placement and the expected use ofproceeds therefrom, the Company’s plans to address its workingcapital deficiency, the completion or outcome of the consolidation ofthe Company’s common shares, and the outcome of negotiations withKarus Gold Corp. regarding the related party loan, are forward-lookingstatements.

Forward?looking statements in thisnews release include, but are not limited to, statements with respectto, among others: the timing regarding the resumption of trading ofthe Company’s common shares on the Exchange after the reinstatementthereof; the anticipated terms, timing, completion and success of thenon-brokered private placement; the Company’s ability to strengthenits financial position and address its working capital deficiency; theanticipated effects of the consolidation of the Company’s commonshares and whether such consolidation will be completed as planned;and the evaluation of other strategic opportunities to improve thebalance sheet. Such forward?looking statements, and any assumptionsupon which they are based, are made in good faith and reflect ourcurrent judgment regarding the direction of our business.  Inconnection with the forward?looking information contained in thispresentation, the Company has made numerous assumptions, including,among others: that the Company will receive all required approvals,including the approval of the Exchange for the reinstatement and theConsolidation; that the Company will return to trade within the timingprovided for under Exchange polices and will be able to close theConsolidation as expected; that the Company will be able to completethe Consolidation at all; and other planning assumptions.  While theCompany considers these assumptions to be reasonable, theseassumptions are inherently subject to significant uncertainties andcontingencies.

Forward looking information involvesknown and unknown risks, uncertainties and other factors which maycause the actual results, performance or achievements of the Companyto be materially different from any future results, performance orachievements expressed or implied by the forward?lookinginformation.  Known risk factors include, among others: theCompany’s common shares may not resume trading on the Exchange;investor demand may weaken; the need to obtain additional financing;and uncertainty as to the availability and terms of future financing.

Forward-looking statements containedherein are made as of the date of this news release and the Companydisclaims 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 canbe no assurance that forward-looking information will prove to beaccurate, as actual results and future events could differ materiallyfrom those anticipated in such statements.  Accordingly, readersshould not place undue reliance on forward-looking information.

Copyright (c) 2025 TheNewswire - All rights reserved.