Kalo Gold Confirms a Gold-Bearing Epithermal System at Wainikoro Over a Strike Length of 1.8 km, Vatu Aurum, Fiji

Kalo Gold Corp. (KALO) reported geochemical and mineralogical results on June 30, 2026, from two reconnaissance diamond drill holes, VA26‑DH18 and VA26‑DH19, at the Wainikoro target within the Vatu Aurum Project in Fiji. The company confirmed a structurally controlled, multi‑stage hydrothermal epithermal gold system featuring gold‑bearing veins over a strike length of approximately 1.8 km.

Notable intercepts from the drilling include: - VA26‑DH19: 1.5 m at 1.61 g/t Au (150.0–151.5 m), plus two sub‑intercepts of 1.5 m at 1.08 g/t and 1.5 m at 0.41 g/t. - VA26‑DH18: 2.0 m at 0.31 g/t Au, with surrounding surface detectORE™ values up to an estimated 1.92 g/t Au.

QEMSCAN analysis identified arsenopyrite replaced by pyrite pseudomorphs, indicating an early mineralizing phase. The mineralization extends beyond the main magnetic‑low target, suggesting multiple centers. Ground geophysics, including CSAMT, IP, and gravity surveys, is planned for mid‑July 2026 to refine drilling targets.

The release follows a series of previous developments at the project. On June 9, 2026, surface sampling at Wainikoro returned up to 3,397 dU (approximately 3.40 g/t Au estimated) and extended the arsenic‑in‑soil anomaly to 1,800 m in strike length. On May 27, 2026, the Vatu Aurum was reinterpreted as a single, structurally reactivated volcanic complex, with priority placed on WETZ–NW‑SE fault intersections.

Earlier activities included an airborne magnetic survey that was 44.5% complete as of April 29, 2026. On April 22, 2026, initial Wainikoro drill holes (VA26‑DH18 and DH19) were completed, observing bladed carbonate textures. On April 8, 2026, the Qiriyaga Complex QC1 hit 16.90 m at 3.25 g/t Au, including 9.00 m at 4.66 g/t, with an untested feeder zone at depth.

Prior to these exploration updates, Kalo Gold closed a C$15.5M financing in January 2026 following a 1‑for‑4 consolidation. The financing consisted of units at C$0.32 with $0.50 warrants. Strategic investors included Silvercorp Metals, which contributed C$1.5M, and Crescat Capital, which invested C$0.5M at $0.05 per unit pre‑consolidation.

The drill intercepts reported were low-grade, averaging less than 2 g/t Au, and narrow. These results fall significantly short of the bonanza-grade headline from Qiriyaga in October 2025, which returned 12.80 g/t Au over 22.12 m.

The market reacted tepidly to the June 9 surface results, with the stock remaining at $0.19, before drifting lower to $0.17 by June 29. The June 30 assay confirmation validates the existence of the system but indicates it has yet to deliver economic grades. No new financial data, resource estimate, or development decision was attached to the release.

Given the company’s low market capitalization of approximately C$13.4M and the need for further high-grade results to justify the approximately C$12.5M raised in early 2026, the news represents a standard exploration milestone. The update is in line with expected progress at Wainikoro and does not signal a breakout discovery.

Kalo Gold Corp. holds a 100% interest in the 367 km² Vatu Aurum Project on Vanua Levu, Fiji. The project features low-sulphidation epithermal gold mineralization across two primary target areas: the Aurum Prime zone, which includes the Qiriyaga Complex with diatreme-hosted high-grade gold, and the Wainikoro target, an epithermal system situated along a structural corridor exceeding 30 km. The company remains in the early exploration stage, with no existing mineral resources, economic studies, production, or revenue.