Komet Resources Inc. announced that its Guiro mine has maintained an increase in production and sales of gold in Fourth Quarter 2016. Raw gold (average of 91%) production at the Guiro mine for the quarter was recorded at 26.6 kilos. This is an increase of 13% compared to the previous quarter which was recorded at 23.5 kilos. The geochemical soil sampling program on the Guiro property is still ongoing. The first 2,700 samples are almost completed and depending on the results, 1,300 additional samples could be taken to tighten the actual 100m x 100m grid on the anomalous zones that are going to be identified. The planned airborne geophysical survey will start in the next few weeks. In Mali, the drilling campaign is started with 6 holes drilled out of the 41 that are planned.

Gold sales from production also increased to a total of CAD 1,239,914 in quarter four of 2016 compared to CAD 1,163,938 in previous quarter. This is a 7% increase compared to the previous quarter, even with a decrease of 6% on the average gold price.