Toubani Resources Limited announce further results from its resource definition drill program at its Kobada Gold Project in southern Mali. The Kobada project hosts 2.4 Moz in Mineral Resources which occurs over a 4.5km strike length and is predominantly oxide and open pittable. Final assays have been received from Toubani's targeted resource definition drill program, including more near surface high-grade oxide results: o 1m at 100g/t gold from 17m & 7m at 3.06g/t gold from 37m (KBRC24_081) o 13m at 6.23g/t gold from 88m (KBRC24_079) including 2m at 25.9g/t gold o 5m at 7.19g/t gold from 53m (KBRC24_102) including 1m at 23.5g/t gold from 53m o 6m at 7.46g/t gold from 114m (KBRC24_117) including 1m at 30.2g/t gold from 119m o 23m at 1.50g/t gold from 167m (KBRC24_118) including 3m at 3.59g/t gold from 167m including 3m at 2.82g/t gold from 186m o 26m at 1.09g/t gold from 18m (KBRC24_099) o 10m at 1.41g/t gold from 8m (KBRC24_108) These intersections add to the previously reported significant assay results which included: o 71m at 1.86g/t gold from 79m (KBRC24_030) including 15m at 4.04g/t gold o 57m at 2.48g/t gold from 85m (KBRC24_064) including 1m at 25.7g/t gold including 9m at 5.08g/t gold o 24m at 5.75g/t gold from 131m (KBRC24_055) including 2m at 57.4g/t gold o 51m at 2.72g/t gold from 123m (KBRC24_056) & 16m at 1.45g/t gold from 176m o 19m at 20.6g/t gold from 105m (KBRC24_044, uncut) including 2m at 178g/t gold (screen fire assay) Updating of the August 2023 Mineral Resource Estimate, which is focused on conversion of resources to Indicated, has commenced with Entech Pty Ltd. Toubani completed a focused resource definition drilling program between February and May 2024 to test key areas of near-surface, open pittable oxide mineralisation which falls within or immediately adjacent to preliminary pit designs.

Previously announced results successfully demonstrated the existence of shallow high-grade mineralisation in these areas (refer ASX Announcements 25 March 2024, 11 April 2024, 22 April 2024 and 22 May 2024), and included outstanding results of 71m at 1.86g/t gold, 19m at 20.6g/t gold from 69m (including 2m at 178g/t gold) and 57m at 2.48g/t gold (including 1m at 25.7g/t gold and 9m at 5.08g/t gold), which are among the top 20 intersections to date at Kobada (on a gram*metre basis). Results have now been received from all drillholes completed in the program (Figures 1 and 2). Results were received from 17 drillholes drilled to follow up initial results in the northern area of the Kobada Deposit with best results including: 7m at 1.12g/t gold from 33m 13m at 6.23g/t gold from 88m including 2m at 25.9g/t gold 12m at 0.94g/t gold from 105m (KBRC24_079) 1m at 100g/t gold from 17m 7m at 3.06g/t gold from 37m 11m at 1.03g/t gold from 52m (KBRC24_081) 7m at 1.43g/t gold from 11m (KBRC24_085) 10m at 1.17g/t gold from 42m (KBRC24_087) 4m at 2.19g/t gold from 33m (KBRC24_090) 3m at 2.58g/t gold from 121m 8m at 3.07g/t gold from 131m (KBRC24_113) 12m at 3.78g/t gold from 138m including 4m at 7.42g/t gold (KBRC24_114) 6m at 7.46g/t gold from 114m including 1m at 30.2g/t gold (KBRC24_117) 23m at 1.50g/t gold from 167m including 3m at 3.59g/t & 3m at 2.82g/t (KBRC24_118) In addition, results were received from 24 holes located within the southern area of Kobada with best results including: 6m at 1.36g/t gold from 18m 11m at 1.08g/t gold from 49m (KBRC24_094) 4m at 1.48g/t gold from 45m (KBRC24_098) 26m at 1.09g/t gold from 18m (KBRC24_099) 7m at 0.93g/t gold from 50m 1m at 46.6g/t gold from 63m & 7m at 1.66g/t gold from 89m (KBRC24_100) 5m at 7.19g/t gold from 53m including 1m at 23.5g/t gold 3m at 3.05g/t gold from 93m (EOH) (KBRC24_102) 10m at 1.41g/t gold from 8m 12m at 0.89g/t gold from 21m (KBRC24_108) 5m at 1.04g/t gold from 10m 9m at 1.11g/t gold from 21m (KBRC24_111) 6m at 1.29g/t gold from 10m (KBRC24_112).

With the receipt and verification of final assays from SGS Laboratories, the Company can commence updating the Mineral Resource Estimate (MRE) for the Kobada Gold Deposit. All data from the 2024 resource definition program has been loaded into the Company's master database by the Company's independent geological database manager. Respected consultants Entech Pty Ltd. have again been engaged to update the August 2023 MRE with the focus of the update being upgrading of resources from Inferred to Indicated classification.

The MRE update will feed into updated pit optimisation studies and mine design /schedules which will inform the DFS Update currently in progress and due for delivery later in 2024.