Mr. Jeremy Link reports

KIBOKO GOLD PROVIDES CORPORATE UPDATE

The resource evaluation from Kiboko Gold Inc.'s phase 1 exploration program for its Harricana gold project is approaching completion. The company is actively working with the independent qualified person to complete the process necessary for reporting a mineral resource, which is expected to be completed soon.

Kiboko's president and chief executive officer, Jeremy Link, commented: "While we had previously anticipated reporting the results near the middle of October, delays have extended the time to complete the review process. As we work closely with the independent QP, Kiboko has embarked on the detailed planning for our next drill program. We look forward to sharing the results of the resource evaluation, which will provide a foundation for our future exploration plans."

The evaluation process is based upon a comprehensive data set totalling more than 85,000 metres, including 70 holes (totalling 11,269 metres) drilled by Kiboko between September, 2022, and April, 2023. The resource evaluation process has been integral to updating geological models, improving the understanding of the geological framework and replacing Kiboko's exploration model with a grade-tonnage model.

About the Harricana gold project

Kiboko's Harricana gold project is a consolidated 100-plus-square-kilometre prospective mineral claim package that is located 55 kilometres north of Val d'Or, Que., in the world-renowned Abitibi greenstone belt. Historical records compiled and digitized by Kiboko into a new geospatial data set include data from 937 historical diamond drill holes totalling 139,397 m and 70 drill holes totalling 11,269 m drilled by Kiboko between September, 2022, and April, 2023, for a grand total of more than 150,000 m of drilling.

The Harricana project benefits from an exceptional location, close to operating mines, with excellent access and proximity to existing infrastructure, including a major highway, rail and clean, low-cost, renewable hydroelectric grid power. The Harricana project also benefits from low royalty coverage with the most significant royalty being a 2-per-cent net smelter return production royalty held by Globex Mining Enterprises Inc. on 195 claims covering an area of 85 square kilometres, which includes the areas drilled in the company's phase 1 drill program.

Qualified person

Ivor W.O. Jones, BSc (honours), MSc, FAusIMM, PGeo (OGQ special authorization permit 74658), Kiboko's vice-president, technical services and project evaluation, has reviewed and approved the pertinent technical or scientific information contained in this news release. Mr. Jones is the company's designated qualified person as defined by Canadian Securities Administrators within the meaning of National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Kiboko Gold Inc.

Kiboko is a Canadian-based exploration company focused on advancing its 100-plus-square-kilometre Harricana gold project, located 55 km north of Val d'Or, Que., within the world-renowned southern Abitibi gold belt. Kiboko's shares trade on the TSX Venture Exchange under the symbol KIB.

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