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US$ 343 million NPV5% with IRR of 44% at US$1,450 per Ounce Gold<\/strong><\/h3>\n

IMPERIAL PROJECT PEA HIGHLIGHTS:<\/strong><\/p>\n

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  Robust economics: US$ 343 million\u00a0NPV5%\u00a0post-tax with 44% IRR at US$1,450 per ounce gold<\/p>\n<\/li>\n

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  Low capital intensity project with only US$ 142 million pre-production capital cost<\/p>\n<\/li>\n

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  146,000 ounces gold per year over 8 years for 1.2 million ounces total production<\/p>\n<\/li>\n

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  Technically simple project: shallow open pit, run-of-mine heap leach with existing infrastructure<\/p>\n<\/li>\n

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  Significant leverage to gold price: US$ 464 million\u00a0NPV5%\u00a0at recent spot US$1,620 per ounce gold<\/p>\n<\/li>\n

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  Value enhancement through Mesquite-Imperial-Picacho District exploration and resource expansion<\/p>\n<\/li>\n<\/ul>\n

  Vancouver, BC April 6, 2020 –<\/strong>\u00a0KORE Mining Ltd. (TSXV: KORE | OTCQB: KOREF) (\u201cKORE<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) is pleased to announce a positive Preliminary Economic Assessment (\u201cPEA<\/strong>\u201d) for the Company\u2019s 100% owned Imperial Oxide Gold Deposit (\u201cImperial<\/strong>\u201d or \u201cProject<\/strong>\u201d), located in California, USA. The PEA demonstrates Imperial\u2019s potential to be a robust mid-tier gold mine with compelling project economics.\u00a0\u00a0In addition to the gold price, Imperial has upside potential from deposit extensions and exploration on the 100% owned Mesquite-Imperial-Picacho District which captures 28 kilometers of strike from the operating Mesquite mine (TSX:EQX) to the historic Picacho heap leach mine.<\/p>\n

  Watch a video (40 seconds) of Scott Trebilcock summarizing the highlights of the PEA \u2013\u00a0click here<\/span><\/a>. Refer to the PEA Summary infographic in\u00a0Figure 1<\/strong>.<\/p>\n

  The PEA is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.<\/p>\n

  KORE\u2019s CEO Scott Trebilcock stated: \u201cImperial is a technically simple, high-return gold project in a safe, politically stable jurisdiction with a long tradition of gold mining.\u00a0\u00a0The PEA delivers robust project economics based on very reasonable capital expenditures. This low capital intensity derives from the simplicity of the project which will utilize conventional open pit mining techniques, proven processing and existing infrastructure.\u201d<\/p>\n

  Mr. Trebilcock added: \u201cWe see the potential to increase value at Imperial through regional exploration and resource expansion drilling which are planned for later in 2020.\u00a0\u00a0The Imperial PEA generates strong returns at US$1,450 per ounce, but at near today\u2019s spot price of US$1,600 per ounce, the project has potential to deliver exceptional returns with an NPV5% of US$ 450 million.\u201d<\/p>\n

  Marc Leduc, KORE\u2019s COO commented: \u201cThe mine plan at Imperial complies with California\u2019s stringent reclamation and environmental laws while delivering skilled jobs and long-term regional economic development. We are excited to engage with local stakeholders and move the project into permitting later this year.\u201d<\/p>\n

  Mr. Leduc added: \u201cKORE considered several alternative options at this PEA stage, which have potential to deliver even higher NPVs by utilizing crushing and additional pre-stripping. A strategic decision was made\u00a0\u00a0to proceed with a lower pre-production capital plan while still delivering strong economic returns. As we advance Imperial, we will consider trade-offs and optimization opportunities to further maximize the project NPV.\u201d<\/p>\n

  KORE will host a webcast on April 7, 2020 at 4PM ET \/ 1PM PT.\u00a0\u00a0See details below.<\/strong><\/p>\n

  PEA SUMMARY<\/strong><\/p>\n

  The PEA was prepared in accordance with National Instrument 43-101 (\u201cNI 43-101<\/strong>\u201d) by Global Resource Engineering (Denver) (\u201cGRE\u201d) – Terre Lane, RMSME MMSAQP, Todd Harvey, PhD, RMSME and supported by Geo-Logic Associates – Monte Christie, GE PE.\u00a0\u00a0The team was led by Marc Leduc, P.Eng. the COO of KORE Mining. The Company plans to file the PEA on SEDAR at\u00a0www.sedar.com<\/span><\/a>\u00a0within 45 days in accordance with NI 43-101.<\/p>\n

  This news release contains information from a preliminary economic assessment, which is a conceptual study, and other forward-looking information about potential future results and events. Please refer to the cautionary statements in the footnotes below and the Cautionary Statements located at the end of this news release, which include associated assumptions, risks, uncertainties and other factors.<\/p>\n

  Unless otherwise stated, all dollar figures are in United States dollars (\u201c$\u201d) and masses are in short tons.<\/p>\n

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