Kalo Gold Announces Changes To The Board Of Directors

VANCOUVER, BRITISH COLUMBIA, CANADA: SEPTEMBER 18, 2024, KALO GOLD CORP. (“Kalo”, “Kalo Gold” or the “Company”) is pleased to announce the appointments of two new directors, Mr. Dickson Lam, Chief Executive Officer of Ascentas Capital Management Limited (“Ascentas”) and Anlly Asset Management Limited and Mr. Terry L. Tucker, P.Geo, who has been President and Chief Executive Officer of the Company since April 2022.  In addition, the Company announces the appointment of David Whittle, CPA, CA to Chairman of the Board.  Mr. Whittle is currently the Chairman of the Audit Committee.

Mr. Lam is the Founder and CEO of Anlly Asset Management Limited and Ascentas and currently holds a significant 18.9% investment in Kalo Gold via Ascentas. Ascentas is a Hong Kong based investment company that focuses on venture investments. Mr. Lam received his Bachelor of Commerce (Honours) Degree at the University of Manitoba and has been actively involved in Investment Banking for over 20 years primarily in Hong Kong, Singapore, Australia, Taiwan and China.

Mr. Tucker, P.Geo. has been instrumental in developing and advancing the company’s geological model and exploration strategy of the Vatu Aurum Project, Republic of Fiji. 

Mr. Fred Tejada has resigned as a member of the Board of Directors. Mr. Tejada is a founding director of the Company and was instrumental in connecting the Vatu Aurum Project to the capital markets in 2020.  Mr. Tejada continues as an advisor and consultant to Kalo Gold and the Company thanks Mr. Tejada for the continued geological and technical support.

ABOUT KALO GOLD CORP.

Kalo Gold Corp, a gold exploration company, is focused on exploration for low sulphidation epithermal gold deposits on the Vatu Aurum Project located on the island of Vanua Levu (North Island) in the Republic of Fiji. Kalo holds a 100% interest in two Special Prospecting Licenses, covering 367 km2  that hosts a regional scale back arc basin, the Nubu Graben, and several volcanic arc related calderas. Historical exploration work concentrated on the Qiriyaga Hill and Vuinubu Ridge Gold Deposits and resulted in the identification of numerous priority epithermal gold exploration targets. 

Both Viti Levu, (South Island), and Vanua Levu are on the prolific Pacific “Ring of Fire”, a trend that has produced numerous large deposits, including Porgera, Lihir, Grasberg, Martha Mine in New Zealand and on Viti Levu (South Island), the exceptional Vatukoula Gold Mine. The Vatukoula Gold Mine has produced more than 7 million ounces of gold since 1937 and continues operations today. The island of Viti Levu also hosts the fully permitted Tuvatu Alkaline Gold Project, where a high-grade underground gold mining operation has been fast tracked to production. 

On behalf of the Board of Directors of Kalo Gold Corp.

Terry L. Tucker, P.Geo
President and Chief Executive Officer and Director

and 

Kevin Ma, CPA, CA
Executive Vice President, Capital Markets and Director

For more information contact, please write to info@kalogoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward Looking Statements Disclaimer

Certain statements in this release are forward-looking statements, which are statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to the Company’s intention with the use of proceeds and the Company’s plans for future exploration on the Vatu Aurum Gold Project. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements included in this news release, other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include quality and quantity of any mineral deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, the Company’s inability to raise the necessary capital to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s filing statement dated February 9, 2021 and latest interim Management Discussion and Analysis filed with certain securities commissions in Canada.

The reader is cautioned that assumptions used in the preparation of any forward-looking statements herein may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect, and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.