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Download PDF of this News Release<\/a><\/p>\n Vancouver, BC March 9, 2021 –<\/strong>\u00a0KORE Mining Ltd. (TSXV: KORE | OTCQX: KOREF) (\u201cKORE<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) is pleased to announce that, due to the success of its target generation work, the Company has launched multiple new field programs to systematically explore the Mesquite-Imperial-Picacho gold district (\u201cDistrict<\/strong>\u201d), part of the Imperial Gold project (\u201cImperial<\/strong>\u201d).\u00a0The new programs will continue to refine drill targets between KORE\u2019s Imperial deposit and the operating Mesquite mine (Equinox Gold \u2013 TSX: EQX) for testing in the second half of 2021 and extend the exploration model to the east of Imperial towards the past producing Picacho mine.<\/p>\n Imperial Exploration Work Program\u00a0<\/strong><\/p>\n Recent interpretation successfully proved \u201cfingerprinting\u201d target strategy for making new discoveries in the District<\/p>\n Geophysical \u201cfingerprint\u201d of Imperial present below recently discovered soil anomalies<\/p>\n<\/li>\n Creates multiple high priority drill targets<\/p>\n<\/li>\n More targets expected as work continues along the District\u2019s 28-km trend<\/p>\n<\/li>\n<\/ul>\n<\/li>\n Launched new exploration programs to expand claim coverage of successful strategy, including:<\/p>\n Detailed soil sampling around initial gold anomalies between Mesquite and Imperial<\/p>\n<\/li>\n IP geophysics program to infill Mesquite to Imperial and step-out east towards Picacho<\/p>\n<\/li>\n Commissioned satellite survey looking for additional signs of surficial oxidation and other gold alteration types<\/p>\n<\/li>\n<\/ul>\n<\/li>\n Results from these programs expected through H1 2021<\/p>\n<\/li>\n<\/ul>\n Scott Trebilcock, CEO of KORE states, \u201cOur exploration strategy for making new discoveries at the Imperial project is coming together nicely.\u00a0\u00a0The targeting strategy is working well, and KORE has commenced new programs to expand the strategy across priority areas at Imperial.\u00a0\u00a0Our local Imperial County and Vancouver based teams are working hard to explore as much ground as possible ahead of planned drilling in H2 2021.\u00a0\u00a0More targeting results are expecting in the coming weeks and months including a first look at prospecting work on the eastern, Imperial to Picacho, part of the District.\u201d<\/p>\n Imperial Target Interpretation Details<\/strong><\/p>\n KORE is pursuing value enhancement to the work completed in the 2020 Imperial preliminary economic assessment (\u201cPEA\u201d) through resource expansion and District-wide exploration of the 28 km gold trend centered on Imperial.\u00a0\u00a0The three main District deposits – Mesquite, Imperial and Picacho – were all discovered by outcrop, while the remainder of the District is under alluvial cover and is largely unexplored.<\/p>\n KORE is using Induced Polarization (\u201cIP<\/strong>\u201d) geophysical surveys to interpret controlling fault structures that host mineralization in the District\u2019s deposits and look under the alluvial cover.\u00a0\u00a0Soil sampling from dry riverbeds (arroyos) is being used to further prioritize drill targets on the fault structures.\u00a0Figure 1<\/strong>\u00a0shows the Mesquite-Imperial-Picacho District claims including geophysical interpretation and surface sample results.<\/p>\n First pass IP was completed in H1 2020, first over the Imperial deposit and then stepping out toward Mesquite.\u00a0\u00a0Having the intact Imperial deposit to \u201ctune\u201d or \u201cfingerprint\u201d the geophysical signatures, greatly enhances the confidence to target new discoveries under the alluvium in the District.\u00a0\u00a0Details of the work were released\u00a0January 7, 2020<\/span><\/a>\u00a0and\u00a0April 29, 2020<\/span><\/a>.\u00a0\u00a0Interpreted faults traced were traced continuously from Mesquite to Imperial.<\/p>\n KORE followed up the IP geophysics in H2 2020 with mapping and first pass soil sampling along the 28 km District trend to further define discrete drill targets.\u00a0\u00a0Results from the Imperial-Mesquite portion of the District were released\u00a0December 8, 2020<\/span><\/a>.\u00a0\u00a0All samples from that program are at the lab and further results are in the coming weeks from the Mesquite-Picacho area.<\/p>\n Figure 2 and Figure 3<\/strong>\u00a0compare IP cross sections below two District stream sediment gold anomalies to an IP cross section of the Imperial deposit.\u00a0\u00a0The IP \u201cfingerprint\u201d of the Imperial deposit geophysics and its alignment with surface gold anomalies clearly matches the patterns of the two District stream sediment gold anomalies.\u00a0\u00a0Both areas are therefore high priority drill targets.\u00a0\u00a0KORE\u2019s exploration team is excited about the success of this targeting strategy and expects to generate more targets as the program continues.<\/p>\n KORE is currently permitting a 168-pad drill program via a Plan of Operations (\u201cPO\u201d) process with the Bureau of Land Management local office.\u00a0\u00a0Permits are expected in mid-2021. Drill testing of the highest priority targets is planned to start in H2 2021, subject to permitting.<\/p>\n KORE is committed to operate within the stringent environmental and labour standards of California.\u00a0\u00a0KORE plans to concurrently reclaim drill pad locations and ensure measures are taken to mitigate any impacts to biological and cultural resources.\u00a0\u00a0KORE has designed the drill programs to maximize the existing public road\/trail network in the area so as to limit any new disturbances, and the Company will be adjusting our drill pad locations as needed to avoid any sensitive sites should any be encountered.<\/p>\n About Imperial Gold Project\u00a0<\/strong><\/p>\n KORE owns 100% of the Mesquite-Imperial-Picacho District which consists of 26,323 acres on 1,007 claims capturing the entire 28-kilometer trend from the operating Mesquite mine (Equinox Gold – TSX:EQX) to the closed Picacho mine and including KORE\u2019s Imperial project.\u00a0\u00a0The Imperial resource, which was the subject of a economically robust 2020 PEA released\u00a0April 6, 2020<\/span><\/a>, is located roughly in the center of the District.\u00a0\u00a0KORE is planning to move the Imperial PEA mine plan into permitting in mid-2021 once drilling permits are received.<\/p>\n In the District, gold is hosted in local fault structures related to a series of regional faults connecting the known District deposits.\u00a0\u00a0Those three District deposits (Mesquite, Imperial and Picacho) were discovered in exposed outcrops and from placer workings.\u00a0\u00a0The rest of the District is covered by alluvium and has never been systematically explored using modern techniques.<\/p>\n Imperial is a structurally controlled intermediate sulfidation epithermal gold deposit. The 100% oxide gold deposit is currently defined at 2.44 kilometer long and up to 0.75 kilometer wide and is open both along strike and downdip. It is hosted in a shallowly southwest dipping, amphibolite grade metamorphic rock suite along a west-northwest trending low-angle regional thrust fault system. The thrust fault system controls the regional geometry of mineralization. East-west striking, post-mineralization normal faults control the property scale geometry of mineralization. Geophysical characterization of the deposit and regional controlling structures is an essential component of exploration for additional resources.<\/p>\n Imperial has a mineral resource estimate with a positive Preliminary Economic Assessment (\u201cPEA\u201d), released\u00a0April 6, 2020<\/span><\/a>, having the following highlights:<\/p>\n Robust economics: C$ 642 million NPV5%* post-tax with 52% IRR at US$1,600 per ounce gold;<\/p>\n<\/li>\n Low capital intensity project with only US$ 143 million pre-production capital cost;<\/p>\n<\/li>\n 146,000 ounces gold per year over 8 years for 1.2 million ounces total production; and<\/p>\n<\/li>\n Technically simple project: shallow open pit, run-of-mine heap leach with existing infrastructure.<\/p>\n<\/li>\n<\/ul>\n\n
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