Toubani Resources to Commence Trading on ASX

TORONTO, Nov. 27, 2022 (GLOBE NEWSWIRE) -- Toubani Resources, Inc. (ASX: TRE; TSX-V: TRE) (“Toubani Resources” or the “Company”) is pleased to announce that the Company`s securities will commence trading today on the Australian Securities Exchange (“ASX”) under the ASX code TRE.

Highlights:

• Shares were admitted to the Official List of the ASX on 24 November 2022 and trading of the shares will commence today at 1:30 pm AEDT, under the ticker “TRE”
• Trading on the ASX will have no direct impact on the trading of the Company's shares on TSX Venture Exchange (“TSXV”), which will continue to trade under the ticker “TRE”
• A$6,000,000 at A$0.20 per share was raised as part of the equity raising
• The Company is now well funded to execute its comprehensive drilling campaign

The management and the board of the Company believe that a dual listing on the ASX will raise the profile of the Company`s Kobada Project in a robust resources market where gold exploration companies have in recent times attracted significant investor interest. In connection with the dual listing, the Company has successfully raised A$6,000,000, bringing in a broad base of new investors, predominantly from Australia.

The Company intends to commence exploration on the Kobada project, with drilling activities expected to commence shortly. The focus of the 2022/2023 drilling campaign will be on the previously identified target areas, based on soil geochemical sampling, artisanal mining, geophysics trends and historical drillholes, in the larger Kobada mining permit area. The aim of the drilling campaign is the following:

• Extending the mineralised zone of the main shear zone (“MSZ”) to the south and north
• Testing the continuity of a second mineralised zone to the east of the main Kobada orebody
• Drilling around historical artisanal mining where there are extensive workings
• Testing new potential gold mineralised zones
• Follow up auger drilling anomalies showing strong gold mineralisation
  

This announcement has been approved for release by the CEO.

About Toubani Resources Inc

Toubani Resources (ASX: TRE; TSX-V: TRE) is an exploration and development company with a focus on expanding its existing total resource base of 3.1 million ounces. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production.