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ENTERS MEMORANDUM OF UNDERSTANDING WITH THE UNITED STATES FOREST SERVICE AND ENGAGES ENVIRONMENTAL REVIEW CONSULTANT<\/h3>\n

Vancouver, BC April 8, 2021 –<\/strong>\u00a0KORE Mining Ltd. (TSXV: KORE | OTCQX: KOREF) (\u201cKORE<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) is pleased to announce that it has entered into a memorandum of understanding with the United States Forest Service (\u201cUSFS\u201d) and has engaged a third party consultant to complete the environmental review for KORE\u2019s proposed exploration drilling program.\u00a0\u00a0KORE is currently accepting bids from drill contractors and working closely with the USFS to commence drilling in safe and responsible manner.\u00a0\u00a0KORE remains on track to commence drilling the exciting resource expansion and underlying feeder zone targets in mid-2021.<\/p>\n

KORE\u2019s CEO Scott Trebilcock stated: \u201cProspecting and geophysics have shown the potential to significantly grow the gold endowment of the Long Valley gold-silver project.\u00a0\u00a0With the proposed program we are testing gold oxide resource expansion targets and testing the underlying epithermal boiling zone for higher-grade gold deposits.\u00a0\u00a0A major discovery could bring significant long term economic benefits to the region.\u00a0\u00a0As KORE explores for such a discovery, we are committed to safety and working in a responsible manner.\u201d<\/p>\n

KORE\u2019s proposed drill program could realize up to 15,000 meters of drilling with multiple holes planned from each of the 14 proposed drill pads.\u00a0\u00a0Pads were located largely off existing USFS roads, to minimize disturbance and impacts to the surrounding environment.\u00a0\u00a0KORE is working closely with the USFS to ensure that the Company meets or exceeds all regulatory requirements to protect the area resources and deliver a safe, low impact program.<\/p>\n

About Long Valley Gold Project<\/strong><\/p>\n

Long Valley is 100% owned epithermal gold and silver project located in Mono County, California. The 15,965 acre land package is district in scale and covers all deep-rooted fault structures of similar genesis to the Hilton Creek fault, the primary \u2018conduit\u2019 for the current Long Valley deposit.<\/p>\n

A total of 896 holes have been drilled on the Project, the majority being completed by reverse circulation with lesser core, rotary and air track.\u00a0\u00a0The current mineral resource estimate is 1,217,000 ounces of Indicated gold and 456,000 ounces of Inferred gold from 63.7 million tonnes of 0.58 grams per tonne and 22.0 million tonnes of 0.65 grams per tonne, respectively.\u00a0\u00a0The mineral resource consists of oxide, transition and sulphides.\u00a0\u00a0The estimate was prepared Neil Prenn, P.E. of Mine Development Associates with an effective date of September 15, 2020.<\/p>\n

A Preliminary Economic Assessment for a shallow, low-strip heap leach Au-Ag project was filed\u00a0October 27, 2020<\/a>\u00a0with the following highlights:<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0US $273 million NPV5% post-tax with IRR of 48% at US$ 1,600 per ounce gold ;<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0Significant leverage to gold: US$ 395 million NPV5% at spot US$ 1,900 per ounce gold;<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0102,000 ounces gold per year over 7 years mine life;<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0Technically simple: shallow open pit, heap leach with nearby infrastructure;<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0Unmodelled silver potential from metallurgical test-work; and<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0Shallow oxide and sulphide feeder exploration potential to further enhance project.<\/p>\n

More information is available in the technical report filed on SEDAR at\u00a0www.sedar.com<\/a>\u00a0and on KORE\u2019s website at\u00a0www.koremining.com<\/a>.<\/p>\n

About KORE Mining<\/strong><\/p>\n

KORE is 100% owner of the Imperial and Long Valley gold projects assets in California.\u00a0\u00a0Both projects have positive economic assessments that put KORE on the path to produce up to 350,000 ounces of gold production per year. KORE is supported by strategic investor Eric Sprott who owns 26% of KORE\u2019s basic shares.\u00a0\u00a0KORE management and Board are aligned with shareholders, owning an additional 38% of the basic shares outstanding.\u00a0\u00a0KORE is actively developing its Imperial Gold project and is aggressively exploring across its portfolio of assets.<\/p>\n

Further information on Long Valley and KORE can be found on the Company\u2019s website at\u00a0www.koremining.com<\/a>\u00a0or by contacting us as\u00a0info@koremining.com\u00a0or by telephone at (888) 407-5450.<\/p>\n

On behalf of KORE Mining Ltd<\/strong><\/p>\n

\u201dScott Trebilcock\u201d
\n<\/em>Chief Executive Officer
\n(888) 407-5450<\/p>\n

Investor Relations<\/strong><\/p>\n

Arlen Hansen, KIN Communications
\n1-888-684-6730
\nkore@kincommunications.com<\/p>\n

Technical information with respect to the Long Valley Gold Project contained in this news release has been reviewed and approved by\u00a0Marc Leduc, P.Eng, who is KORE’s COO and is the qualified person under National Instrument 43-101 responsible for the technical matters of this news release.<\/p>\n

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/strong><\/p>\n

Cautionary Statement Regarding Forward-Looking Information<\/p>\n

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects”, \u201cintends\u201d, \u201cindicates\u201d and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements.\u00a0 Forward-looking statements in this news release include, but are not limited to, statements with respect to: the actual timing and implementation of the 2021 exploration plan and strategy for the Long Valley Project, the actual timing of completion of the 2021 exploration plan for the Long Valley Project, the opportunities of expansion at the Long Valley Project, the results of the PEA, including future Project opportunities, the projected NPV, permit timelines, the current mineral resource estimate, and the ability to obtain the requisite permits, the market and future price of and demand for gold, and the ongoing ability to work cooperatively with stakeholders, including the all levels of government. Such forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information.<\/p>\n

Additional risks and uncertainties are described in the \u201cRisks\u201d section of the Company\u2019s management discussion and analysis for the year ended December 31, 2019 prepared as of April 27, 2020 available under the Company\u2019s issuer profile on www.sedar.com.<\/p>\n

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.<\/p>\n

There is no certainty that all or any part of the mineral resource will be converted into mineral reserve. It is uncertain if further exploration will allow improving the classification of the Indicated or Inferred mineral resource.\u00a0\u00a0Mineral resources are not mineral reserves and do not have demonstrated economic viability.<\/p>\n

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Vancouver, BC April 8, 2021 \u2013 KORE Mining Ltd. (TSXV: KORE | OTCQX: KOREF) (\u201cKORE\u201d or the \u201cCompany\u201d) is pleased to announce that it has entered into a memorandum of understanding with the United States Forest Service (\u201cUSFS\u201d) and has engaged a third party consultant to complete the environmental review for KORE\u2019s proposed exploration drilling program.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,2],"tags":[],"class_list":["post-2036","post","type-post","status-publish","format-standard","hentry","category-19","category-news"],"_links":{"self":[{"href":"https:\/\/newkore.shalecreativedevelopment.com\/wp-json\/wp\/v2\/posts\/2036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newkore.shalecreativedevelopment.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newkore.shalecreativedevelopment.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newkore.shalecreativedevelopment.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newkore.shalecreativedevelopment.com\/wp-json\/wp\/v2\/comments?post=2036"}],"version-history":[{"count":0,"href":"https:\/\/newkore.shalecreativedevelopment.com\/wp-json\/wp\/v2\/posts\/2036\/revisions"}],"wp:attachment":[{"href":"https:\/\/newkore.shalecreativedevelopment.com\/wp-json\/wp\/v2\/media?parent=2036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newkore.shalecreativedevelopment.com\/wp-json\/wp\/v2\/categories?post=2036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newkore.shalecreativedevelopment.com\/wp-json\/wp\/v2\/tags?post=2036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}