KALO GOLD CORP. announce the commencement of the Phase 3 exploration program at its 100% owned Vatu Aurum Gold Project (the ‘Project') located in the Republic of Fiji. The districtscale Project covers 367 square kilometers (‘km2') and hosts a minimum of seven volcanic arc related calderas ranging between 1 kilometer (‘km') to 10 km in diameter in a geological setting analogous to the alkaline related low sulphidation epithermal gold deposits of both the neighbouring Vatukoula Gold Mine and the Lion One Metals' Tuvatu Gold Deposit.

The Company owns two diamond drill rigs and drill crews have been mobilized to site. A full maintenance program is being completed on one of the drills which will be used to diamond drill test targets that have been identified at both Qiriyaga and Mouta. Exploration work will consist of a bulk leach extractable gold (‘BLEG') and stream sediment sampling program.

The Company has engaged with a geophysical contactor to complete a controlledsource audiofrequency magnetotellurics (‘CSAMT') geophysical survey over the Qiriyaga Prospect, and surrounding area and is planned to commence after the rainy season, in April 2023. The Qiriyaga Hill Prospect sits on the boundary of the Qiriyaga Caldera in an analogous geological setting as the alkaline related, low sulphidation, epithermal Vatukoula Gold Deposit which has produced over 7 million ounces of gold since 1937. Work to date has identified a large argillic alteration zone associated with high grade epithermal gold mineralization yielding historical drill results highlighted by 8.75 m averaging 36.02 g/t Au in hole KCD17 and will be the focus of continued exploration and follow up diamond drilling.

The Mouta Prospect is located on the flank of the Mouta Caldera approximately 9km north of Qiriyaga Hill. The mineralization at Mouta is characterized by the presence of massive black chalcedonic quartz veining with chalcopyrite and disseminated pyrite on fresh surfaces and with copper oxide minerals on weathered sections. Select grab samples at Mouta have yielded 9.8 g/t Au, 190 g/t Ag and 11.3% Cu and separately 6.2 g/t Au, 645 g/t Ag and 3.12% Cu.

Following the completion of the rainy season an old access road to Mouta will be refurbished to allow access for the diamond drill rig.