IMPERIAL GOLD PROJECT

1980: Goldfields Mining Corp. began regional-scale exploration in search of heap-leachable deposits similar to their discovery at Mesquite.

1981-1985: Exploration concentrated on the Imperial area based on anomalous drainage geochemistry, geophysical signatures, and outcropping mineralization at the Singer and Anna M prospects.

1986: Exploratory drilling intersected mineralization at the East and West areas (e.g. K-77 27.4 m at 1.12 g/t Au).

1987: Imperial County JV formed between Goldfields, Glamis Gold, and Amir Mines Inc.

1987-1992: Deposit was expanded through continued RC drilling. By 1992, 169 RC holes totalling 21,805 m were drilled.

1994: Glamis Gold acquired 100% of the property.

1994-1996: Resource development drilling was initiated. A total of 29,147 m in 127 holes were completed. Metallurgical testing, engineering, environmental, and archeological studies were also completed.

1996: A feasibility study was completed in April, 1996.

1996-2000: An environmental impact report/study was published by Glamis Gold and Glamis pursued a permit to operate. Gold price decline and political opposition stalled the project generating litigation which continued though 2007. Glamis was taken over by GoldCorp.

2012: GoldCorp optioned to Delta Gold. An NI 43-101 compliant preliminary economic assessment report was completed in October, 2012**. The accompanying resource estimate was based on 349 holes totalling 59,450 metres. Historic mineral resources and economic analyses are not supported by a KORE NI 43-101 technical report and should not be relied upon.

2013: The optioned project was returned to Goldcorp in a recessionary gold price environment in 2013.

2017: KORE Mining Ltd. acquires 100% of the Imperial project from Goldcorp Inc.

2019: KORE attracts investment from Macquarie Bank and re-starts work on the project. KORE stakes 1007 new claims around Imperial, acquiring all the exploration ground between the Mesquite (operating) and Picacho (closed) gold mines.

2020: The company published a robust PEA (more information here) and has commenced the permitting process to advance the project. KORE has also started exploring to expand the current resource and a district scale exploration program.

Note: Historic studies should not be relied upon by investors. Such studies were done prior to the implementation of the current NI 43-101 guidelines and information contained in any historical study is not being treated as current information

The project area is underlain by a sequence of Jurassic age gneisses and schists. The overlaying stratigraphy is made up of fanglomerates and alluvium that vary in thickness from 10 to 700 feet (“ft”) and cover 95% of the project area. Gold mineralization occurs primarily within hematitic and limonitic altered breccias, microfractures, and gouge zones developed in the host biotite gneiss and sericite gneiss units.

Minor quartz veining, very-fine grained pyrite pseudomorphs and silicified zones are also common.

Internally, Kore has re-constructed geological and mineral resource models from existing data:

• Kore review of drill logs and RC chips affirmed the regularity of the deposit due to fault hosted mineralization.
• The geological setting of mineralization is responsible for the near-ideal leach characteristics of the deposit.
• A permeable fault zone provided a channel way for mineralizing epithermal solutions.
• Gold is deposited on surfaces of fault-breccia clasts.
• The fault zone remained permeable to groundwater resulting in complete oxidation of mineralization.
• Clast sizes within the fault are optimal for producing permeability in heaps.
• Clasts are relatively unaltered by hydrothermal and weathering events.
• The position of mineralization in the rock sequence is very consistent throughout the deposit.
• The mineralized zone is at or just below the upper fault plane that separates Jurassic volcanics from Cretaceous gneiss.
• Some mineralization penetrated the upper plate (hanging wall of the fault).
• The zone between pits is structurally complex due to post-mineral faulting. However, the mineralized zone continues between the pits.

The Imperial Project is a real employment and economic development opportunity for Imperial County, CA.  Mining operations typically provide high paying, skilled jobs with a significant “multiplier effect” of local spending and supply cascading through the economy.

The historic environmental impact report/statement (EIR/EIS), concluded that there were no significant environmental issues that could not be mitigated.   With strict laws in California on air, water and site reclamation the Imperial project will be operated to the highest standards in the world.

KORE has the advantage of extensive historic work supporting the historic feasibility and EIR/EIS. Kore is in process of updating technical, environmental, biological and cultural studies to exceed California mining regulation and practices.

• Located on BLM (federal) lands intended for multiple use (extensive 4×4 use in area).  BLM is the lead permitting agency.

• BLM works with Imperial County to comply with California law (focus on reclamation)

• 10mi from Mesquite Mine mine: inspected and managed by same local BLM and County authorities as Imperial

• All water, air, biological and cultural inventories well understood

• No cultural resources in the project area have been listed on the national register of historic places (NRHP)

• Impacts to cultural resources will be avoided, or mitigated

In April 2017, the Trump administration developed a “priority work” list for the BLM to streamline the permitting process for hard rock mining (and other activities).

In an August 31, 2017 secretarial order, the DOI “streamlined” agencies’ processes for analyzing environmental impacts. Now, agencies may not spend greater than one (1) year to complete an EIS, nor may their final report be more than 150 pages, or 300 pages for “unusually complex” projects.