Additional Engineering And Economic Assessment Of Imperial Project Scenarios

VANCOUVER - KORE Mining Ltd. reported positive results from additional engineering and economic assessment work for the Imperial Oxide Gold Deposit, located in California.  The work assessed various scenarios in response to the position by the Bureau of Land Management (BLM) of the possible need to move project infrastructure. Economic modeling results for all scenarios were within the sensitivities positive Preliminary Economic Assessment (PEA). The work demonstrates that, regardless of the ultimate location of Imperial's processing infrastructure, Imperial has the potential to be a mid-tier gold mine with compelling project economics.  

The PEA is preliminary in nature and 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 preliminary economic assessment will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

KORE's CEO Scott Trebilcock stated: "The alternate infrastructure locations assessed in our recent work shows robust project economics across all scenarios in-range of our 2020 PEA economic sensitivities.  Imperial remains a technically simple, high-return gold project in a safe, politically stable jurisdiction with a long tradition of gold mining.  All scenarios use conventional open pit mining techniques, proven processing technology and existing infrastructure.

With our ACES initiative – A Clean Environment for the Salton Sea – the Imperial Project aims to deliver positive social and environmental impacts for local stakeholders – cleaner air from ACES, generational job creation and training, respect for land heritage and complete land restoration post-mining including backfilling open pits.  All KORE's development plans meet or exceed California's stringent reclamation and environmental laws while delivering meaningful positive local stakeholder impact."