Mr. Craig Williams reports

KIBOKO ANNOUNCES UPSIZING OPTION ON NON-BROKERED PRIVATE PLACEMENT

In connection with a non-brokered private placement announced on Sept. 30, 2025, and amended on Nov. 27, 2025, Kiboko Gold Inc. has reserved the right to increase the size of the private placement by up to 20 per cent. As a result, up to an additional 2.5 million postconsolidation units may be issued, for a total of up to 15 million units, at a price of eight cents per unit, for gross proceeds of up to $1.2-million.

All other terms and conditions of the private placement remain unchanged. Each unit will consist of one postconsolidation common share and one postconsolidation transferable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional postconsolidation common share at an exercise price of 12 cents for a period of two years following completion of the private placement. The company has extended the expected closing of the private placement and now expects it to close on or about Jan. 25, 2026.

The closing of the private placement is subject to customary conditions and receipt of all necessary approvals, including approval of the TSX Venture Exchange. Kiboko may pay finders' fees in connection with the private placement in accordance with the policies of the TSX Venture Exchange. The company expects to use the net proceeds of the private placement for general corporate and working capital purposes.

Common shares issued pursuant to the private placement will be issued on a postconsolidation basis as described in the company's Sept. 30, 2025, news release. The company's share consolidation is expected to be completed on the basis of 10 preconsolidation common shares for one postconsolidation common share, subject to approval of the TSX Venture Exchange. Common shares and warrants issuable in connection with the private placement will be subject to a hold period of four months and one day in accordance with applicable Canadian securities laws. Completion of the consolidation is subject to the approval of the TSX Venture Exchange. Subject to receipt of all required approvals, the company will announce the record date and the effective date of the consolidation in a subsequent news release.

About Kiboko Gold Inc.

Kiboko is a Canadian-based exploration company focused on advancing its Harricana gold project, located 55 kilometres 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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