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Vancouver, BC July 30, 2020 –<\/strong>\u00a0KORE Mining Ltd. (TSXV: KORE | OTCQB: KOREF) (\u201cKORE<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) announces that the Company has increased its land holding in the Cariboo Gold District (\u201cDistrict<\/strong>\u201d) of British Columbia by 330%.\u00a0\u00a0KORE is now the dominant land holder of the southern half of the District with Osisko Gold Royalties Ltd\u2019s (TSX:OR) Barkerville \/ Cariboo Gold Project controlling the north.<\/p>\n

Highlights<\/strong><\/p>\n

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  Consolidated 1,000 square kilometer land position in southern Cariboo Gold District<\/p>\n

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    330% increase in claim area in BC<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

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    KORE\u2019s claims host 110 km of the Eureka thrust structural trend (\u201cTrend<\/strong>\u201d)<\/p>\n

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      Trend drives gold mineralization in the District<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

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      Trend highly prospective for orogenic gold deposits<\/p>\n

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        Includes KORE\u2019s FG Gold Project and Gold Creek Project, both orogenic<\/p>\n<\/li>\n

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        Some of largest gold deposits in the world are orogenic<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

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        Prolific mining region with multiple current and past operating mines<\/p>\n<\/li>\n

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        100% KORE owned<\/p>\n<\/li>\n<\/ul>\n

        KORE CEO Scott Trebilcock commented, \u201cIt is a rare occurrence when a company controls a dominant position in a gold District, particularly in a safe and stable jurisdiction.\u00a0\u00a0KORE now has two, 100% owned, District scale projects: Imperial in California and the southern Cariboo Gold District.\u00a0\u00a0With the great results we are seeing in our FG Gold Project drilling, and the success of Osisko to the north, the Cariboo is once again on the radar for gold exploration.\u201d<\/p>\n

        Figure 1<\/strong>\u00a0shows KORE\u2019s land position in the District.\u00a0\u00a0KORE staked 36 claims for 71,034 hectares and acquired an additional 21 claims for a total of 5,571 hectares of new claims.\u00a0\u00a0KORE previously controlled claims in the District at the FG Gold Project and Gold Creek Project.\u00a0\u00a0In total, KORE now controls 99,990 hectares or 1,000 square kilometers.<\/p>\n

        The Cariboo Gold District is a prolific gold region.\u00a0\u00a0The District was host to the Cariboo gold rush in the late 1800\u2019s, followed by a long history of modern gold mining.\u00a0\u00a0The Cariboo region is accessible with local power, well developed road network and skilled local labour.<\/p>\n

        KORE already has already identified multiple projects in the District with much of the area under-explored and wide open for additional discoveries.\u00a0\u00a0District projects include KORE\u2019s FG Gold, Gold Creek, Hen, Tep, Forks, Jamboree, and McKee which are also located on\u00a0Figure 2<\/strong>.<\/p>\n

        KORE is currently drilling the FG Gold Project, with 1,577m completed in March and April 2020 and over 1,700m completed since the end of June 2020.\u00a0\u00a0Of the current 5,000m drill program, four holes have been completed to date, averaging over 400m each and all drilled up to 200m downdip from previous drilling and covering a strike length of over 500m.<\/p>\n

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

        KORE is 100% owner of\u00a0a portfolio of advanced gold exploration and development assets in California and British Columbia.\u00a0\u00a0KORE is supported by strategic investors Eric Sprott and Macquarie Bank; and insiders, together with the management and Board, own approximately 64% of the basic shares outstanding.<\/p>\n

        Further information on KORE and its assets can be found on the Company\u2019s website at\u00a0www.koremining.com<\/span><\/a>\u00a0and at\u00a0www.sedar.com<\/span><\/a>, or by contacting us as\u00a0info@koremining.com<\/span>\u00a0or by telephone at (888) 407-5450.<\/p>\n

        On behalf of KORE Mining Ltd
        \n\u201dScott Trebilcock\u201d
        \nChief Executive Officer
        \n(888) 407-5450<\/p>\n

        Technical information 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<\/em><\/span><\/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” 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\u00a0Such\u00a0forward-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.\u00a0<\/em><\/p>\n

        \u00a0<\/em><\/p>\n

        Such factors include, among others: risks related to exploration and development activities at the Company\u2019s projects, and factors relating to whether or not mineralization extraction will be commercially viable;\u00a0risks related to mining operations and the hazards and risks normally encountered in the exploration, development and production of minerals, such as unusual and unexpected geological formations, rock falls, seismic activity, flooding and other conditions involved in the extraction and removal of materials; uncertainties regarding regulatory matters, including obtaining permits and complying with laws and regulations governing exploration, development, production, taxes, labour standards, occupational health, waste disposal, toxic substances, land use, environmental protection, site safety and other matters, and the potential for existing laws and regulations to be amended or more stringently implemented by the relevant authorities; uncertainties regarding estimating mineral resources, which estimates may require revision (either up or down) based on actual production experience; risks relating to fluctuating metals prices and the ability to operate the Company\u2019s projects at a profit in the event of declining metals prices and the need to reassess feasibility of a particular project that estimated resources will be recovered or that they will be recovered at the rates estimated; risks related to title to the Company\u2019s properties, including the risk that the Company\u2019s title may be challenged or impugned by third parties; the ability of the Company to access necessary resources, including mining equipment and crews, on a timely basis and at reasonable cost; competition within the mining industry for the discovery and acquisition of properties from other mining companies, many of which have greater financial, technical and other resources than the Company, for, among other things, the acquisition of mineral claims, leases and other mineral interests as well as for the recruitment and retention of qualified employees and other personnel; access to suitable infrastructure, such as roads, energy and water supplies in the vicinity of the Company\u2019s properties; and risks related to the stage of the Company\u2019s development, including\u00a0risks relating to limited financial resources, limited availability of additional financing and potential dilution to existing shareholders; reliance on its management and key personnel; inability to obtain adequate or any insurance;\u00a0\u00a0exposure to litigation or similar claims; currently unprofitable operations; risks regarding the ability of the Company and its management to manage growth; and potential conflicts of interest.\u00a0\u00a0<\/em><\/p>\n

        In addition to the above summary, 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.<\/em><\/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.\u00a0\u00a0<\/em><\/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.<\/em><\/p>\n

        Cautionary Note Regarding Mineral Resource Estimates:\u00a0<\/em><\/strong>Information regarding mineral resource estimates has been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States Securities and Exchange Commission (\u201cSEC\u201d) Industry Guide 7. In October 2018, the SEC approved final rules requiring comprehensive and detailed disclosure requirements for issuers with material mining operations. The provisions in Industry Guide 7 and Item 102 of Regulation S-K, have been replaced with a new subpart 1300 of Regulation S-K under the United States Securities Act and will become mandatory for SEC registrants after January 1, 2021. The changes adopted are intended to align the SEC\u2019s disclosure requirements more closely with global standards as embodied by the Committee for Mineral Reserves International Reporting Standards (CRIRSCO), including Canada\u2019s NI 43-101 and CIM Definition Standards. Under the new SEC rules, SEC registrants will be permitted to disclose\u00a0\u201cmineral resources\u201deven though they reflect a lower level of certainty than mineral reserves. Additionally, under the New Rules, mineral resources must be classified as\u00a0\u201cmeasured\u201d,\u00a0\u201cindicated\u201d, or\u00a0\u201cinferred\u201d, terms which are defined in and required to be disclosed by NI 43-101 for Canadian issuers and are not recognized under SEC Industry Guide 7.\u00a0 An\u00a0\u201cInferred Mineral Resource\u201d\u00a0has a lower level of confidence than that applying to an\u00a0\u201cIndicated Mineral Resource\u201d\u00a0and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of\u00a0\u201cInferred Mineral Resources\u201d\u00a0could be upgraded to\u00a0\u201cIndicated Mineral Resources\u201d\u00a0with continued exploration. Accordingly, the mineral resource estimates and related information may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements under\u00a0the United States\u00a0federal laws and the rules and regulations thereunder, including SEC Industry Guide 7.<\/em><\/p>\n

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        Figure 1 \u2013 Cariboo Gold District Map<\/strong><\/h3>\n

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