Toubani Resources, Inc

Activities Update - Seite 3

Mr Griffin is a geologist and has over 27 years experience in Australia, Africa, South/Central America, Central and SE Asia in various senior and management positions. Mr Griffins experience includes corporate development, mining, mine geology, mine development and management, as well as designing and managing large scale exploration and resource drilling programs, resource modelling and estimation, management and training of geological/technical teams.

Financial Update

Since the September quarter and post the Company’s ASX listing and $6,000,000 capital raise, the Company continued to support its ordinary course of business and exploration expenditures during this time, including advancing deposits to its drilling contractor for the commencement of drilling services. Cash as of 31 December 2022 totalled US$3.6 million (A$5.4 million) net of broker, listing and associated legal fees, as well as restructuring costs as noted in the Prospectus that will reduce its overhead cost structure going forward.

The Company will file its audited 31 December 2022 financial statements and annual report on or before March 31, 2023.

About Toubani Resources Inc

Toubani Resources (ASX: TRE; TSX-V: TRE) is an exploration and development Company with a focus on building Africa’s next mid-tier gold producer. The Company has a highly experienced Board and management team with a proven African track record in advancing projects through exploration, development and into production.

For more information regarding Toubani Resources visit our website at www.toubaniresources.com.

For more information:

Phil Russo	Daniyal Baizak
Chief Executive Officer and Executive Director	Vice President, Corporate Development
+(61)478138627	[phone]
[e-mail]	[e-mail]
Jane Morgan
Investor and Media Relations
+ 61 (0) 405 555 618
[e-mail]

Cautionary statements