KORE Provides Update on Annual Financial Statements
Vancouver, May 29, 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 (the "Annual Filings") beyond the period prescribed under applicable Canadian securities laws (the "Default Announcement"). Due to the additional procedures and complexities in auditing certain transactions for the 2024 fiscal year, the audit process requires additional time for partner and consultant review to ensure compliance with enhanced measures. As a result, the Company will not meet the previously announced filing deadline of May 31, 2025, for the Annual Filings, as state in the May 1, 2025, news release. With the British Columbia Securities Commission's initial approval, the Company now expects to file the Annual Filings on or before June 30, 2025, with the financial statements and accompanying management's discussion and analysis for the three months ended March 31, 2025 (the "Interim Filings") being due for filing within 5 business days after the Annual Filings have been filed.
The Company reports that the audit is progressing and will provide a further update on the timing of its Annual Filings on or about June 12, 2025. The Company is also progressing on completion of its Interim Filings, and will provide a further update on or about June 12, 2025. Further updates on timing will be provided by the Company as necessary.
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 info@koremining.com 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.
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 Project and the Long Valey Project; the potential to expand or upgrade the mineral resources at the Imperial Project and the Long Valey Project through ongoing or future exploration programs; and the anticipated outcomes of further exploration efforts to improve the classification of Indicated or Inferred mineral resources at the Imperial Project and the Long Valey Project. 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 or the Long Valey 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 exploration drill program may not be completed as planned; the exploration programs may not result in the discovery of new mineral resources or the successful upgrading of existing mineral resources; mineral resource estimates may not be accurate or may be reduced based on future exploration results; 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.
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 nine months 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 not mineral reserves and do not have demonstrated economic viability.
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