Toubani Resources Inc. announced 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. Toubani completed a focussed 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.

Results from the first 54 holes successfully demonstrated the existence of shallow high-grade mineralisation in these areas, and included outstanding results of 71m at 1.86g/t gold and 19m at 20.6g/t gold (including 2m at 178g/t gold), which are among the top 20 intersections to date at Kobada (on a gram*metre basis). Results have now been received from a further 24 drillholes (Figures 1, 2 and 3). Of these, 3 were located within the central area of the Kobada Deposit with best results including: 24m at 5.75g/t gold from 131m including 2m at 57.4g/t gold (KBRC24_055) 51m at 2.72g/t gold from 123m 16m at 1.45g/t gold from 176m (EOH) (KBRC24_056) 12m at 2.28g/t gold from 99m (KBRC24_075) Results were also received from eighteen holes located within the southern area of the Kobada Deposit with best results including: 3m at 9.99g/t gold from 31m including 1m at 28.3g/t gold 4m at 4.69g/t gold from 108m (KBRC24_059) 57m at 2.48g/t gold from 85m including 1m at 25.7g/t gold & including 9m at 5.08g/t gold (KBRC24_064) 6m at 5.32g/t gold from 107m & 36m at 2.56g/t gold from 117m (KBRC24_065) 26m at 2.82g/t gold from 97m including 1m at 25.1g/t gold 21m at 2.75g/t gold from 124m including 8m at 4.56g/t (EOH) (KBRC24_066) 14m at 2.04g/t gold from 108m (KBRC24_067) 15m at 1.10g/t gold from 7m (KBRC24_068) 5m at 6.62g/t gold from 65m including 2m at 15.2g/t gold 11m at 1.59g/t gold from 74m 15m at 1.12g/t gold from 92m 15m at 1.08g/t gold from 126m (KBRC24_072) 31m at 1.17g/t gold from 110m 3m at 1.98g/t gold from 153m (KBRC24_074) In addition, results were received from three drillholes drilled to follow up initial results in the northern area of the Kobada Deposit with best results including: 31m at 1.71g/t gold from 65m including 1m at 19.9g/t gold & 1m at 12.1g/t gold (KBRC24_076) 26m at 3.22g/t gold from 111m including 7m at 9.12g/t gold (KBRC24_077).

Drilling has now been completed at Kobada, with a total of 120 holes drilled for 11,785 metres. The Company acknowledges the safe and efficient way the drilling program was completed by Target Drilling. Final assay batches are in the process of being reported by SGS Laboratories and being verified by the Company's independent geological database manager.

Once all data has been compiled and validated the Company will commence an update to the Mineral Resource Estimate for the Kobada Deposit planned for the Second Quarter 2024. This will then feed into updated pit optimisation studies and mine design /schedules which will inform the DFS Update, due for delivery later in 2024.