KO Gold outlines drill plans across Otago permits

Executive Summary

• KO Gold Inc. provided an update on its exploration activities and outlined upcoming drilling programs across its five permits in the Otago gold belt, New Zealand.
• The company has four permits that are now "drill ready," with planned drilling targeting the Carrick gold field, and the eastern, western, and down-dip extensions of the Hyde-Macraes shear zone (HMSZ).
• The update highlights the regional context, citing the success of OceanaGold’s Macraes mine and Santana Minerals’ Bendigo-Ophir project, while noting that KO Gold is completing a financing to fund these exploration activities.

Key Details

• Permit Status: Four of KO Gold's five exploration permits are now drill ready.
• Planned Drilling Programs:
  • Carrick Exploration Permit: Drilling will twin and validate key historical gold intersections. The area has historical production but has never been systematically tested with modern exploration techniques or deeper drilling.
  • Smylers Gold Exploration Permit: Located along the eastern extension of the HMSZ. Drilling will step out from prior 2021 drill holes to test continuity and support a maiden mineral resource estimate.
  • Hyde Exploration Permit: Drilling will target the western extension of the HMSZ as defined by mapping and recent geophysical interpretations to evaluate potential gold mineralization.
  • Glenpark Exploration Permit: Drilling is designed to test potential deep down-dip extensions of the HMSZ, which is well-defined at the Macraes gold mine.
• Regional Context:
  • The Otago gold belt is highlighted by OceanaGold’s Macraes mine, which has produced ~250,000 ounces of gold per year since 1990.
  • Santana Minerals’ Bendigo-Ophir gold project (located northwest of Macraes) contains a JORC indicated resource of 18.9 Mt at 2.5 g/t Au for 1.5 million contained ounces.
  • Santana Minerals received a mining permit for Bendigo-Ophir on Nov. 5, 2025, under the Fast-track Approvals Act.
• Qualified Person (QP) Limitations:
  • The QP has reviewed historical scientific and technical information for the Carrick gold project but has not fully verified sampling, analytical, and test data.
  • Limitations include lack of access to original assay certificates and the need to twin or redrill historical holes to verify grades and widths.
• Financing: The company is currently completing a financing to fund its planned exploration and drilling programs (referenced as a Nov. 3, 2025 release).
• Land Package: KO Gold holds four 100%-owned exploration permits and one under application (Carrick Range) totaling 400 square kilometres, plus an NSR on three additional permits totaling 340 square kilometres.

Notable Quotes

• "We are excited about the opportunities emerging in the Otago gold belt. Having explored and made discoveries across the Birimian greenstone belts of West Africa over the past 25 years, I see many similarities here. Thirty-five years ago, the Birimian hosted only small-scale operations, today it is one of the world's largest gold-producing regions. We believe the Otago gold belt is at a similar stage of discovery and KO Gold is positioned at the right place, at the right time." — Greg Isenor, President and CEO