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Karora Intersects 3.64 g/t Gold Over 16 Metres as Part of Strong Results from Initial Scout Drilling on the Lake Cowan Prospect at Higginsville Greater; Provides Management Update and Announces Participation in Upcoming Investor Conferences

Karora Resources Inc.

Highlights:

  • Initial scout drilling at Lake Cowan in the Higginsville Greater area has delivered exciting new drill targets in previously under-explored terrain east of the Higginsville mining operations.
  • Results from early stage scout drilling are viewed as very encouraging especially given the sparse nature of the drilling over this large area.
  • Significant gold intersections from lake air core scout drilling include:
    • HIGA8864: 1.35 g/t gold over 50 metres, including 3.64 g/t over 16 metres1
  • Paul Andre Huet, Karora’s Chairman and CEO, to relocate to Western Australia in the first half of 2021 to lead the Corporation’s near term organic growth initiatives alongside Graeme Sloan, Managing Director, Australian Operations.
  • Oliver Turner promoted to Executive Vice President of Corporate Development. Mr. Turner will continue to oversee strategic corporate initiatives and will provide senior leadership to support Karora’s TSX listing.
    1. Downhole intervals. Estimated true widths cannot be determined on the available information.

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