Kalo Gold Discovers Seven Epithermal Gold Targets Along The 100% Owned, District-scale Namalau Trend, Vatu Aurum Project, Fiji

VANCOUVER, BRITISH COLUMBIA, CANADA: NOVEMBER 7, 2024, KALO GOLD CORP. (“Kalo”, “Kalo Gold” or the “Company”) is pleased to provide an exploration update on its 100% owned, 370 sq km Vatu Aurum Project, Fiji. The Company has made significant progress and an exploration breakthrough in identifying a large epithermal greenfield system with associated gold targets along the Namalau Trend that lies within the >28 km long Nubu Graben, a back arc basin.

Key Highlights:

• Geological and geochemical exploration work has documented seven new prospective “epithermal upwelling zones” along the 1.5 km long Namalau Trend that lies within the highly prospective >28 km long Nubu Graben. These promising targets for gold mineralization are characterized by extensive hydrothermal sinters on surface that are coincident with elevated selenium, mercury and arsenic in soils – a typical geochemical fingerprint of epithermal gold deposits. The implied volume of hydrothermal fluid flow is evidence of a very large system.

• Elevated selenium, mercury and arsenic are three volatile elements associated with epithermal gold deposits typically occurring 100 to 150 meters above the primary precious metal mineralization and are powerful vectoring tools that have been applied to develop targets.

• Dua Target trenching has uncovered quartz veins hosted in a hydrothermal breccias associated with significant high-temperature alteration, typical of epithermal gold deposits (photo 1, 2, 3 and 4).

• Soil sampling at Vatu Aurum has proven to be highly effective and an economic exploration method; Kalo has embarked on a program to collect an additional 8,000 soil samples to expand from the Namalau Trend and to cover a total of 11 sq km of the Nubu Graben to rank and prioritize targets by the end of December.

• Kalo plans to conduct additional trenching and drilling of the top priority targets during the first quarter of 2025.

“The new exploration targets and insights we have gained along the Namalau Trend from our field work are extremely encouraging and validate our conviction that we have a highly prospective potential large greenfield epithermal gold system on the Vatu Aurum Project,” commented Terry L. Tucker, P.Geo., CEO of Kalo Gold. “We are excited to accelerate our field work and drilling plans as we strive to efficiently vector toward additional major epithermal upwelling zones and unlock the district-scale gold endowment of this highly prospective gold region of Fiji.”

Exploration Program Detail

The Namalau Trend is located within the highly prospective Nubu Graben Fault Zone (“NGFZ”). The NGFZ is a major geological corridor running northeast through Vanua Levu, the north island of Fiji, shaped by historic rotational tectonic movements from the Pacific Plate. Geophysical surveys indicate that the NGFZ features steeply dipping faults, potentially extending several kilometers into the Earth’s crust.

Geological and geophysical studies in 2024 have identified a series of northwest-southeast trending structures that offset the NGFZ and create dilational zones. These zones, which are filled with brecciated host rocks (including conglomerates and limestones), show signs of significant rotation and are enriched with a high proportion of matrix material. These conditions facilitate the flow of fluids along fault zones, enabling the deposition of metals in the matrix between the rock clasts.

An analysis of 929 soil samples collected at 20-meter intervals along the 1.5 km Namalau Trend has highlighted seven new prospective “epithermal upwelling zones”, which correspond to soil geochemical anomalies (Figure 1). Notably, acidic upwelling fluids have been shown to deplete elements such as potassium while enriching selenium (up to 4.4 ppm) (Figure 2 to 3). This geochemical signature suggests that the fluids are sourced from deep in the crust, rather than from shallow plutons. The targets are also marked by anomalous mercury (up to 68 ppm) and arsenic (up to 730 ppm) levels, two volatile elements typically associated with epithermal deposits found 100 to 150 meters above the primary precious metal mineralization.

At the southwestern end of the Namalau Trend, the Dua Target (Figure 4) has emerged as a prominent area for further investigation. Geochemical anomalies in this area extend over a 300m by 350m area and are associated with surface features such as a low dome-shaped hill, sinter deposits from ancient hydrothermal springs and vuggy silica outcrops. A series of 12 trenches totaling 956 meters were excavated in the Dua Target, intersecting prospective saprolite layers and following geochemical trends such as anomalous selenium concentrations in soils. The trenching revealed significant alteration from high-temperature, acidic vuggy silica to lower-temperature propylitic alteration zones at the periphery, consistent with a high-sulphidation epithermal system.

Additionally, the trenches intercepted 32 silicified quartz veins, ranging from 0.7 meters to 4.1 meters in thickness. These veins display a sigmoidal pattern—indicative of dilational environments—which had not been identified in prior trenching campaigns. Historical assays from earlier trenching returned gold grades of up to 3.64 grams per ton (g/t) along the proposed strike of these newly identified sigmoidal veins. Samples from these veins are being collected and sent for detailed assay analysis at ALS Labs in Australia.

Exploration at the Namalau Trend will continue with further trenching across the seven identified target zones, with the goal of constructing a regional geological, geochemical and structural interpretation and assessing the potential for precious metal mineralization at depth. Drilling is planned for early 2025.

Building on the success of the soil sampling program, the Company is now expanding its exploration efforts with an additional 8,000 soil samples being collected at 20-meter spacings to cover other promising areas covering over 11 sq km, including Qiriyaga Hill, Vuinubu Ridge, Vunisea and Vunikulukulu targets. This continued work underscores Kalo’s commitment to rapidly advancing its exploration activities in this highly prospective region and unlocking the potential for substantial precious metal discoveries.

ABOUT KALO GOLD CORP.

Kalo Gold Corp, a gold exploration company, is focused on exploration for 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.

Qualified Person

The technical information in this news release was reviewed and approved by Andrew Randell, P. Geo a qualified person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

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.

Figure 1 – seven distinct epithermal fluid upwelling zones have been defined along 1.5 km of the Namalau Trend with historical trench sample results.

Figure 2 – distinct depletion of K in soils.

Figure 3 – distinct enrichment of Se in soils – indicating a deep fluid source.

Figure 4 – Dua Target epithermal veins show a distinct sigmoidal shape with excellent continuity over a 300m by 350m area.

Photo 1 – resistant epithermal quartz vein – approximately 75 cm below the surface with coincident selenium in soils.

Photo 2 – Andy Randell and Caley Dunlop mapping two resistant parallel epithermal veins in trench – VA-24-11.

Photo 3 – significant alteration related to a proximal hydrothermal vent and sinter zones related to high-temperature fluids associated with acidic vuggy silica

Photo 4 – epithermal vein