Mr. Craig Williams reports

KIBOKO CLOSES PRIVATE PLACEMENT AND COMPLETES SHARE CONSOLIDATION

Kiboko Gold Inc. has closed its previously announced non-brokered private placement and has completed the consolidation of its issued and outstanding common shares on the basis of one postconsolidation common share for each 10 preconsolidation common shares. The consolidation was completed immediately prior to the closing of the private placement, and all references in this news release to common shares, units and warrants are on a postconsolidation basis.

In connection with the closing of the private placement, the company issued an aggregate of 12.75 million units at a price of eight cents per unit for aggregate gross proceeds of $1.02-million. Each unit consists of one common share and one transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of 12 cents for a period of two years from the date of issuance. Following the completion of the private placement, the company has 17,163,709 postconsolidated common shares issued and outstanding.

The company intends to use the net proceeds of the private placement for general corporate and working capital purposes. All securities issued under the private placement are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. The private placement remains subject to final acceptance of the TSX Venture Exchange.

The consolidation was approved by the TSX-V and the company's common shares commenced trading on a postconsolidation basis at the opening of markets on Jan. 23, 2026. The TSX-V issued its bulletin on Jan. 21, 2026. Following the consolidation, the new Cusip number for the common shares is 493734 20 6 and the new ISIN for the common shares is CA 493734 20 6 7.

Shareholders who hold their common shares through a broker or other intermediary, or in book-entry form, are not required to take any action. Their positions will be adjusted automatically to reflect the consolidation. Outstanding securities convertible or exercisable into common shares will also be adjusted by the consolidation ratio and the exercise price of such securities will be adjusted accordingly.

Additional information about Kiboko can be found on SEDAR+ and on the company's website.

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-V under the symbol KIB.

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