KO Gold Inc. announce that it has entered into an arm's length exploration permit acquisition agreement (the "Acquisition Agreement") dated February 15, 2024 with NewPeak Metals Ltd. ("NewPeak Metals") and NewPeak NZ Ltd. (together with NewPeak Metals, the "Vendors") and Neil Stuart (the "Recipient") pursuant to which the Company has acquired (the "Acquisition") two exploration permits (EP) located in the Otago Gold District of New Zealand (the "Property"). The newly acquired exploration permits are Raggedy Range EP 60733 and Garibaldi EP 60677, which combined are approximately 92 km2 in size and located between Santana Minerals' advanced resource- stage Bendigo-Ophir Gold Project (Rise and Shine Shear Zone - RSSZ) and OceanaGold Corp.'s active Macraes gold mine (Hyde-Macraes Shear Zone - HMSZ). Both exploration permits were granted for a 5-year term and are highly prospective for gold based on historical exploration work and alluvial gold workings in the area.

With the addition of these exploration permits, KO Gold now has eight 100%-owned prospecting and exploration permits within the Otago Gold District for a combined land package of approximately 1,064 km2. KO Gold has also submitted an EP application over the Carrick Goldfield north of its Carrick prospecting permit, with permit approval still pending by New Zealand Petroleum and Minerals ("NZP&M").