Kalo Gold Identifies Untested Vunisea Fault – A Potential Gold Feeder Zone Of The Qiriyaga Hill Deposit, Vatu Aurum Gold Project

VANCOUVER, BRITISH COLUMBIA, CANADA: 26 February 2024, KALO GOLD CORP. (“Kalo”, “Kalo Gold” or the “Company”) is pleased to announce that, based on the results of recent compilation work, the gold mineralization of the Qiriyaga Hill Deposit is located between two interpreted volcanic centres and sits immediately east of the newly interpreted Vunisea Fault (Figure 1). The Vunisea Fault is associated with a >1,200 metre (“m”) north-northeast trending untested soil anomaly (Figure 2). The Vunisea Fault potentially acted as a metal-bearing epithermal fluid conduit or “feeder zone” that then spread laterally to the east into layers of porous tuffs, volcanic breccias, and limestone layers, thereby creating the Qiriyaga Hill Deposit.

Historically, drilling at Qiriyaga Hill was solely focused on the development of a shallow open pit gold mining operation over approximately a 400m strike length, and therefore, the deepest hole drilled to date has a vertical depth of only 150m. No drilling has been undertaken to explore the potential “feeder zone” of the Qiriyaga Hill Deposit. Given that the Qiriyaga Hill Deposit and the Vuinubu Ridge Trend (see news release dated 15 February 2024) both represent the distal or top of two precious metal epithermal systems, it is estimated that drilling within 400m of the surface, targeting the Vunisea Fault-related “feeder zone”, will be a priority for the next phase of exploration work.

Terry L. Tucker, Kalo Gold President and CEO, stated:

“The compilation work by the professional team at SGDS Hive, in particular Andy (Andrew) Randell, P.Geo., has focused on developing a clear understanding of the geology of Vatu Aurum by integrating and interpreting all of the recent as well as historical data, including: geochemical, geophysical, trench, drill hole, and surface mapping information. This work has led to the delineation of high priority epithermal gold targets within the Qiriyaga Hill Prospect. These targets will be the focus of the 2024 exploration program. This will include trenching, mapping, sampling, and diamond core drilling along the >1,200m long Vunisea Fault and along the Vuinubu Ridge Trend, where a >1,900m northeast-trending high priority epithermal gold target is located along the deep-seated Nubu Graben Fault that has also been identified. Ongoing compilation work will be summarised in further news releases on an ongoing basis.”

Trenching Results

Historical trenching at Qiriyaga North has returned excellent results (Table 1 and Figure 3) and appears to be associated with the southern extent of the Vunisea Fault, which extends >1,200m to the north. Additionally, trenching from Qiriyaga East and 500m northeast to Vunikulu has returned excellent results (Table 1). These targets have not been drill tested.

Table 1 – Qiriyaga Hill, Qiriyaga North, Qiriyaga East, and Vunikulu Trench Results

(Assay results assume 100% recovery as no recent metallurgical testing has been undertaken on this mineralization.)

About Kalo Gold Corp.

Kalo Gold Corp, a gold exploration company, is focused on exploration for low sulphidation epithermal gold deposits of the Vatu Aurum Gold Project on the island of Vanua Levu (North Island), Fiji. Kalo holds a 100% interest in two Special Prospecting Licenses, covering 367 km², that host a minimum of seven volcanic arc-related calderas ranging between 1 km to 10 km in diameter.

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, and Grasberg and, on Viti Levu, the Vatukoula Gold Mine, which has produced more than 7 million ounces of gold since 1937. The island of Viti Levu also hosts the Tuvatu Alkaline Gold Project, where Lion One Metals is fast-tracking a high-grade underground gold mining operation. Tuvatu is now operating and targeting production expansion and additional growth through exploration.

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

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

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

Forward-Looking Statements Disclaimer

This release contains forward-looking statements, including statements relating to the Company’s proposed drilling timeline, proposed expansion of the exploration program, and future exploration plans for the Vatu Aurum Gold Project. These statements involve risks and uncertainties and are not guarantees of future results.

The reader is cautioned that actual results may differ materially from those anticipated due to various known and unknown risks, uncertainties, and other factors. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by Canadian securities law.