Vatu Aurum Gold Project Cornerstone Permit Renewed

• The Mineral Resources Department, Government of Republic of Fiji, has renewed Kalo Gold Corp., 100% owned, Special Prospecting License (SPL) 1464 for a term of five years on 4 July 2028.
• SPL 1464 is Kalo Gold's cornerstone SPL permit which covers 22,160 hectares and hosts the high priority gold exploration targets of Qiriyaga Hill, Wainikoro and Mouta Caldera complexes.

VANCOUVER, BC / ACCESSWIRE / July 31, 2023 / KALO GOLD CORP. ("Kalo", "Kalo Gold" or the "Company") is pleased report the renewal of the cornerstone Special Prospecting License 1464 ("SPL 1464"), one of two SPLs, that make up the 366.91 square kilometer, 100% owned, Vatu Aurum Gold Project (the "Project") located in the Republic of Fiji.

The Company has been granted this extension after a rigorous assessment process that considered not only the geological and economic potential of the Project, but included an environmental review, an assessment of local landowner, and community relationships. The Company has made payment of a performance and environmental bond, as required under Section 16 of the Fiji Mining Act 1965 and associated rental fees. In accordance with Regulation 31 of the Mining Regulation 1966, the Company is required to submit Quarterly and Annual Exploration Reports and provide a copy of any compensation agreements with respective landowning units.

The Project consists of two permits, SPL 1464 and SPL 1511, that cover a total of 366.91 square kilometers. SPL 1464 covers 22,160 hectares and hosts the Qiriyaga Hill, Wainikoro and Mouta Caldera complexes. SPL 1511 covers 14,531 hectares, and the Coquelo Caldera complex, and is subject to renewal on the 14 September 2024.

President and CEO, Terry L. Tucker, P.Geo commented "Kalo Gold is extremely pleased with the tremendous support of the Mineral Resources Department in achieving this very important milestone. The early license renewal and support provides security and confidence in the Company's ability to continue to explore and develop the exceptional Vatu Aurum Gold Project and that Fiji continues to be open to public markets which can access critical capital to enable mineral exploration in the country for the benefit of shareholders and all stakeholders in Fiji."