Toubani Resources, Inc

Activities Update - Seite 2

The focus of the 2023 drilling campaign is on the previously identified target areas, based on soil geochemical sampling, artisanal mining, geophysics trends and historical drillholes, in the larger Kobada permit area. The aim of the drilling campaign is the following:

• Testing 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 on auger drilling anomalies showing strong gold mineralisation
  

The 10,750-meter drill program commenced late last year after mobilisation of the drill rig to site. Results are planned for release to the market during the March quarter of 2023.

Appointment of Phil Russo as Chief Executive Officer

Mr Phil Russo agreed to join the Company as Chief Executive Officer and Executive Director. The Company moved to appoint an Australian-based Chief Executive Officer with broad corporate, project development and capital markets experience to advance the Company’s strategy to increase its market profile in Australia and globally, as well as unlocking the significant, untested exploration potential across the Kobada Gold Project.

As part of the appointment of Mr Russo to Chief Executive Officer and Executive Director, Mr Danny Callow transitioned to Executive Chairman till mid-2023, before moving to Non-Executive Chairman. Previous Non-Executive Chairman Jan-Erik Back moved to Non-Executive Director. They are joined by current Non-Executive Directors Mr Tim Kestell and Mr Douglas Jendry.

Technical Management Appointments

Toubani announced the appointments of Mr Bill Oliver and Mr Kerry Griffin to the technical management team. Both Mr Oliver and Mr Griffin are highly experienced geologists and will be instrumental in driving the exploration and resource development strategy at Toubani as the Company initiates a concerted effort to unlock the significant geological potential at Kobada.

Mr Oliver is a geologist with over 20 years of experience in the international resources industry working for both major and junior companies. Mr Oliver has spent recent years in the development of projects across Africa including being responsible for the identification, acquisition, development and into production of the Konongo Gold Project in Ghana as the Managing Director of Signature Metals Ltd. Mr Oliver was the General Manager, Geology and Exploration for Firefinch, overseeing delineation of 3.5 million ounces in Mineral Resources at the Morila Gold Project in Mali.