Milestone At Imperial Gold Project In California

VANCOUVER - KORE Mining Ltd. reported the completion of a major milestone pursuant to the Imperial Gold Project purchase agreement with Goldcorp USA Inc., a wholly owned subsidiary of Newmont Corporation. KORE was required in the Purchase Agreement to spend over $5 million USD by the fifth anniversary of the Purchase Agreement.  KORE surpassed this requirement in mid-2021.  The only remaining requirement in the Purchase Agreement is payment of $1 million USD at the first gold pour.

Scott Trebilcock, CEO, said, "KORE purchased the Imperial Gold Project to advance to production.  With robust project economics alongside complete site restoration through backfilling, stringent environmental standards and the recently announced project ACES, the net benefit to stakeholders would be significant.  The $5 million spent to date has been focused on exploration and building project support.  We look forward to continuing to build upon the long history of gold mining in the Imperial region."