Karora Resources' High-Grade Drill Results of 17.3 g/t Gold Extends Fletcher Gold Zone at its Beta Hunt Mine

• Karora Resources extends Fletcher Gold Zone to 800 metres strike length after high-grade drilling results include 17.3 g/t over 14.5 metres with clusters of fine visible gold
• The company identified four parallel mineralized zones, with potential for additional lodes.
• Maiden Mineral Resource for Fletcher is targeted for release, along with continued aggressive exploration.
• Karora poised for growth as a cornerstone operation of the combined company post-merger with Westgold

Karora Resources Inc. (TSX: KRR) is a growing gold producer focused on increasing production at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations in Western Australia. The company operates a low-cost 1.6 Mtpa processing plant at Higginsville, fed by ore from its underground Beta Hunt mine and Higginsville mines. In July 2022, Karora acquired the 1.0 Mtpa Lakewood Mill in Western Australia, further enhancing its processing capacity. The company boasts a strong Board of Directors and management team committed to delivering shareholder value and responsible mining practices.

Fletcher Gold Zone: A Game-Changer for Beta Hunt

The recent drilling results from the Fletcher Gold Zone at Beta Hunt mine have been nothing short of impressive. Karora Resources has successfully extended the zone to 800 metres of strike length, with the potential to reach up to 2.2 km to the northern lease boundary. The highlight of the drilling program was an intersection of 17.3 g/t over 14.5 metres, which included clusters of fine visible gold in the drill core.

The Fletcher Gold Zone is quickly shaping up to become Beta Hunt's largest gold system. With four parallel mineralized zones identified across a 400-metre width and the potential for additional lodes, the company is confident in the zone's ability to significantly contribute to its growth strategy.

Aggressive Exploration & Resource Development

Karora Resources is not resting on its laurels. The company has already commenced Stage 3 drilling, targeting a 300-metre strike length between the recently completed northernmost drill line and the 2016 Discovery Hole. The focus for the remainder of 2024 will be on delivering a maiden Mineral Resource for Fletcher, completing the Fletcher access drive from the Western Flanks South decline, and continuing aggressive exploration to extend both the strike length and width of the defined mineralization.

The company's exploration team has done an excellent job in understanding the geology of the Fletcher Gold Zone and identifying the potential for parallel lodes. This new understanding underlines the opportunity for Fletcher to become a game-changer for the Beta Hunt mine and Karora Resources as a whole.

A Bright Future Ahead

Karora Resources is well-positioned for growth, with the anticipated merger with Westgold set to create the largest 100% unhedged gold producer in Australia. The combined company will have a bolstered treasury and additional underground drills available, allowing for an even more aggressive exploration and development program at Beta Hunt.

The company is targeting an annualized production rate of 2.0 Mtpa by the end of 2024, with strong potential for continued growth beyond that. The recent drilling results from the Fletcher Gold Zone have only served to increase confidence in the company's ability to achieve its goals.

Conclusion

For investors looking for exposure to a growing gold producer with a proven track record of success, Karora Resources presents a compelling opportunity. The company's commitment to responsible mining practices, coupled with its aggressive exploration and development strategy, positions it well for long-term success.

The recent drilling results from the Fletcher Gold Zone at Beta Hunt mine have showcased the immense potential of this asset. With a maiden Mineral Resource on the horizon and continued aggressive exploration planned, investors can expect to see significant value creation in the coming months and years.

As Karora Resources continues to unlock the potential of its assets in Western Australia, investors stand to benefit from the company's growth and success. With a strong management team, a solid financial position, and a promising pipeline of projects, Karora Resources is a company to watch in the gold mining sector.