Asara Resources (ASX:AS1,FSE:ALM) is leading the next West African gold rush from a strategic position in Guinea’s underexplored Siguiri Basin—an emerging gold district with over 30 million ounces of historical and current gold production.
Asara Resources’ flagship Kada Kold project hosts a 923,000-ounce, oxide-dominant gold resource just 35 km south of AngloGold Ashanti’s 6.2 Moz Siguiri mine. The company is systematically advancing development using the proven “string-of-pits” model that has driven success across West Africa, guided by a seasoned team behind the Kiniero Project, now a cornerstone asset for Robex (TSX:RBX).
Asara’s near-term strategy focuses on three key priorities: accelerating resource growth with 33,600 metres of RC and diamond drilling planned for 2025; advancing a low-CAPEX, oxide-first development approach that capitalizes on free-dig saprolite, strong gold recoveries, and a conventional CIL flowsheet; and preserving upside exposure to copper and silver-zinc through its Loreto joint venture with Teck and the optional Paguanta asset in Chile.
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With a proven management team and a high-impact flagship asset, Asara Resources is spearheading a new era of gold discovery in West Africa, leveraging the same team that established Robex’s 3.5 Moz Kiniero project. The company holds 923,000 oz of gold in mineral resources with significant upside, delivering a compelling investment opportunity for savvy investors.
Asara Resources (ASX:AS1,FSE:ALM) is spearheading the next West African gold rush from a strategic foothold in Guinea’s underexplored Siguiri Basin, an emerging gold district with over 30 million ounces (Moz) of historical and current gold production.
The company’s flagship Kada gold project hosts a 923,000 oz, oxide-dominant gold resource located just 35 km south of AngloGold Ashanti’s 6.2 Moz Siguiri mine. Asara is methodically applying the proven “string-of-pits” development model that has driven success across the region, supported by an experienced team responsible for establishing the Kiniero project, now a cornerstone asset for Robex (TSX:RBX). Guinea offers a favorable jurisdiction for mining investment, with more than US$15 billion in resource-sector inflows since 2020 and a planned return to civilian governance, positioning it as one of the more stable West African jurisdictions relative to its neighbours in the Sahel region.
Asara’s near-term strategy includes: rapidly growing its resource base through 33,600 meters of RC and diamond drilling planned for 2025; advancing a low-CAPEX, oxide-first development strategy leveraging free-dig saprolite, high gold recoveries and conventional carbon-in-leach (CIL) flowsheet; and maintaining upside exposure to copper and silver-zinc through its Loreto JV with Teck and the optional Paguanta asset in Chile.
With strong in-country infrastructure, a focused and proven leadership team, and robust gold pricing tailwinds, Asara is advancing the Kada project toward a construction-ready decision on a compressed and capital-efficient timeline.
The Kada gold project, located in the heart of Guinea’s prolific Siguiri Basin, is Asara’s flagship asset and the primary focus of its development strategy. The project currently hosts a JORC 2012-compliant mineral resource estimate of 30.3 million tons (Mt) grading at 0.95 grams per ton (g/t) gold for 923,000 oz of contained gold, comprising 391,000 oz oxide, 145,000 oz transitional, and 387,000 oz fresh mineralization. Approximately 59 percent of the resource lies within the oxide-transitional profile, with 24 percent of the total resource already classified as indicated.
The resource is hosted within the Massan and Bereko deposits, both of which remain open along strike and at depth and sit along a regional-scale 15 km gold-bearing corridor. The Massan deposit alone accounts for 906,000 oz of the total resource and is characterized by shallow, broad zones of saprolitic mineralization ideal for low-strip, open-pit mining. Gold mineralization is associated with quartz-sulphide-tourmaline stockworks hosted in metasediments with deep saprolite (>100 m) and is amenable to simple processing.
The mineralized zones are free-milling, with metallurgical testwork confirming cyanide leach recoveries of 95 to 97 percent for oxide and 88 percent for transition/fresh ore. Conventional CIL processing is suitable, with rapid leach kinetics (less than 24 hours for oxide) and no need for gravity recovery or oxygen injection. The ore has medium hardness, with a grind size optimized at 80 percent passing 75 microns. Geotechnically, the project exhibits a low strip ratio (<3.5:1), and the saprolite is potentially free digging, minimizing mining costs.
The project is within 60 km of the mining centre of Siguiri and benefits from existing infrastructure, including paved roads and ready access to water. Asara plans to carry out 33,600 metres of drilling in 2025, including 24,000 m RC and 9,600 m diamond drilling, to upgrade confidence in the core of the resource and test extensions at depth and along strike. These campaigns will target mineralization north, south and west of Massan. Auger drilling will be used to define and explore kilometre-scale gold-in-soil anomalies on the Talico, Banan and Syli license application. If granted, these licenses will expand Asara’s landholding to 348 sq km and provide a 35 km contiguous footprint along the Siguiri gold trend, where artisanal workings have already been mapped along key lithologic contacts.
The Bereko deposit, situated 10 km north of Massan, currently hosts an inferred resource of 18,000 oz gold grading at 0.94 g/t from shallow oxide, transitional and fresh material.
Importantly, this MRE only covers 400 metres of a >5.5 km strike length with confirmed bedrock gold anomalies. Historical drilling at Bereko includes notable intercepts such as 1.2 g/t gold over 27 m, 3.3 g/t gold over 9.3 m, and 8.8 g/t gold over 3.3 m. Mineralization remains open in all directions, providing significant upside potential with further drilling.
Asara envisions a low-CAPEX, staged development, anchored by starter pits at Massan and Bereko, followed by centralized processing infrastructure capable of supporting future satellite deposits. This approach mirrors the multi-pit strategy successfully deployed at Kiniero and Siguiri.
The 100 percent owned Loreto project is a large-scale porphyry copper exploration project in northern Chile, located between tenements held by mining majors BHP and Codelco. Under a joint venture with Teck Resources, Teck can earn a 75 percent interest in the project by making US$0.6 million in staged payments and spending US$17 million on exploration. The project hosts a 2.3 km x 1.0 km alteration footprint with evidence of a deeper porphyry system, supported by mapping, geochemistry and ZTEM geophysics. Teck is currently advancing social license and environmental studies to enable drilling. Asara is fully carried under the JV structure and maintains strategic exposure to a world-class copper opportunity with no capital obligations.
Asara holds a 75 percent interest in the Paguanta project in Chile. The asset is an advanced silver-zinc-lead-gold project with a defined JORC 2012 mineral resource totaling 2.4 Mt grading at 5 percent zinc, 1.4 percent lead, 88 g/t silver, and 0.3 g/t gold. The Patricia deposit contains a silver-equivalent resource of 18.2 Moz (236 g/t silver equivalent) and a zinc-equivalent resource of 514 Mlb (9.7 percent zinc equivalent). Mineralization is hosted within epithermal veins with potential for porphyry copper at depth, including the newly identified La Rosa porphyry target. More than 46,700 metres of drilling has been completed at the site, and a partial feasibility study was previously conducted by Golder Associates. Asara is actively evaluating strategic options to realize value from this asset.
Formerly with Robex, Matthew Sharples was instrumental in growing Kiniero into a multi-million-ounce project. He brings deep expertise in capital markets, stakeholder engagement, and West African permitting.
Tim Strong is a seasoned exploration geologist and JORC Competent Person with significant experience across West Africa. Strong leads Asara’s technical strategy and resource development.
Brett Montgomery is a respected corporate leader with a history of guiding early-stage exploration companies through critical growth phases.
A geologist with decades of African exploration experience, Dr. Doug Jones provides technical oversight and strategic direction.
A key architect behind the Kiniero development strategy, Dan Tucker contributes deeply to geological targeting and land consolidation strategy.
Advancing the next West African gold camp from the heart of Guinea’s prolific Siguiri Basin
Following completion of the Placement, Mr. Timothy Strong has stepped down as Managing Director and Mr. Matthew Sharples has been appointed Chief Executive Officer. Mr. Strong will remain on the Board as Executive Director – Corporate Strategy & Affairs.
Executive Director, Tim Strong commented:
‘’We are pleased that Barbet have continued to show their commitment to the Company and its flagship Kada project by participating in a further Placement. This Placement will allow the Company to fastrack its exploration efforts.
I am also delighted to welcome Matt Sharples to the management team. Matt, who joined the Company as a consultant in October 2024, has been instrumental in recommencing operations at Kada. Matt provides a wealth of knowledge, and an undeniable passion for Guinea and I look forward to supporting him as we move the Kada project through the value chain towards a feasibility study. Both Matt and I are confident of the resource potential of Massan and the surrounding areas which will be drill tested in the coming months.’’
Placement Details
The Placement is comprised of the issue of 104,517,541 fully paid ordinary shares (Placement Shares) at an issue price of $0.022 raising $2,299,385.90 (before costs). per share. Following the Placement, Barbet holds 19.89% of the Company.
The proceeds of the Placement will be applied towards an upcoming drill program and exploration activities at Kada and general working capital. The Placement Shares will be issued under the Company’s existing placement capacity under ASX Listing Rule 7.1, and accordingly no shareholder approval is required. The Placement Shares will rank pari passu with existing securities on issue.
Executive Changes
Chief Executive Officer
Matthew has been appointed Chief Executive Officer, effective 14 February 2025. Matthew Sharples is a mining professional with over 20 years of experience in mine development, investment consulting and M&A. Matt specialises in the geological evaluation and development of gold projects, with a particular focus on project development from the initial stage to production.
Matt was Co-Founder and CEO of the private mining fund Sycamore Mining. Under his stewardship, the group's flagship asset, the Kiniero Mine (Guinea), grew from a total resource base of 1.5Moz Au to 3.5Moz Au (JORC) and was sold to Robex Resources in 2022 for a project valuation of US$160m. Matt has worked worldwide in the mining and resources industry, in the UK, Africa, Asia and Australia, with Robex, Sycamore, Wood Mackenzie, Xstrata and BHP Billiton.
Matt holds an MSc in Basin Evolution and Dynamics, Royal Holloway, University of London, United Kingdom, and a BSc in Geology, University of Durham, United Kingdom. Matt is a director and shareholder of substantial shareholder, Barbet L.L.C FZ.
The material terms of Matthew Sharple’s employment agreement are as follows:
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Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to announce it has entered into a new earn-in agreement as part of its broader regional exploration strategy to evaluate prospective gold bearing structural corridors in Côte d'Ivoire, West Africa.
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Figure 1: Location Map Yakassé Gold Project
Key Highlights
Edward Gosselin, CEO and Director of Kobo commented: "Our earn-in agreement on the Yakassé Project marks a meaningful step in Kobo's strategy to expand our exploration portfolio in one of Côte d'Ivoire's promising gold regions. This project sits within a structurally complex and underexplored area that has already returned high-grade results from past drilling by reputable operators. With its expected strong regional potential and well-developed infrastructure, the Yakassé Projec t aligns with our long-term growth strategy. Subject to the approval of the pending application, we look forward to advancing exploration on this project with Geoservices as we continue unlocking new opportunities alongside the development of our flagship Kossou Project ."
Geoservices – Earn-In Agreement Overview
Geoservices applied for a gold exploration license on February 23, 2021, in the Adzopé/Yakassé-Attobrou departments which was updated and its perimeter increased at Kobo's request from 67 km 2 to 74.06 km 2 on July 17, 2025. The application is in the vicinity of the Nesdave permit (PR-0973 73.5 km 2 ) which is covered by another earn-in agreement signed in February 2025 as well as to the Kuniboa application (18.3 km 2 ) located next to the Nesdave permit (see Figures 1 & 2).
Subject to Geoservices being granted a research permit for an initial four-year term, the Company and Geoservices will conduct the exploration activities. The Company has made an initial payment of C$20,000 upon the signing of the Geoservices Earn-In agreement following the update of the application. Another payment in the amount of C$10,000 will be made by the Company upon approval of the Application by the Interministerial Commission and a final payment of C$20,000 and, subject to the approval of the TSX Venture Exchange Inc., the issuance of 30,000 common shares of the Company to Geoservices upon it being granted by decree an exploration permit.
Once the exploration permit is issued by decree, the Company can acquire a 90% interest in the license over the first four years by investing a minimum of 295 million CFA F (approximately C$719,500). The first year requires an investment of 77 million CFA F or approximately C$187,800 to acquire an interest of 18% in the permit. The second year requires a minimum investment of 67 million CFA F (approximately C$163,400) to acquire an 19% interest in the exploration permit. The third year requires the Company to invest a minimum of 68 million CFA F (approximately C$165,853) for a 28% interest in the permit and the fourth year requires a minimal investment of 83 million CFA F (approximately C$202,400) for an additional 25% interest in the permit bringing the total to 90% over the four years.
In the event the Company elects to apply for an exploitation license (an " Exploitation License ") with respect to any of the properties covered under the Geoservices Earn-In Agreement , the Company and Geoservices will constitute a joint venture with respect to the exploitation of such property which will be held as to 81% by the Company, 9% by Geoservices and 10% by the Government of Côte d'Ivoire. The Company will be entitled to purchase, at any given time, from Geoservices an additional 4% interest in the joint venture for a cash payment of C$2.0 million.
The Geoservices Earn-In Agreemen t grants a 1% net smelter return (" NSR ") to Geoservices with the Company retaining the right to buy back 50% of such 1% NSR in consideration of a C$1.0 million payment. Following commissioning of facilities to commercially exploit a discovery, Geoservices will also be entitled to receive, subject to approval of the TSX Venture Exchange (" TSXV "), 350,000 common shares of the Company's share-capital.
Subject to approval from the TSXV, Kobo will issue 30,000 common shares to Geoservices upon Geoservices being granted by decree an exploration permit. Such common shares will be issued to Geoservices pursuant to an exemption from the prospectus requirements of applicable Canadian securities laws and will be subject to a hold period of four months and one day.
Yakassé Gold Project – Overview
The Yakassé Project is located approximately 100 km northeast of Abidjan and is easily accessible by paved and gravel roads. The 74.06 km² permit application lies within a highly prospective region characterized by NE-SW trending Birimian metavolcanic and metasedimentary units intruded by granitoids. Gold mineralization in the area is structurally controlled, associated with shear zones and quartz veining, and has been the focus of significant historic artisanal and small-scale mining activity.
Previous exploration by reputable operators, including, most recently, Newmont (2007–2010), outlined widespread gold anomalies and confirmed the potential for mineralized systems at the Yakassé Project . Newmont's work included extensive soil geochemistry, auger drilling, and over 3,500 metres (" m ") of reverse circulation (" RC ") drilling 1 . Several broad, near-surface gold intercepts were reported, including 44.0 m at 2.32 g/t Au , 48.0 m at 1.20 g/t Au , and 20.0 m at 1.69 g/t Au , highlighting the strong mineral potential associated with NE-SW trending shear zones. Importantly, the Company believes the structural trends observed at Yakassé may represent parallel systems to those present at its nearby Nesdave permit and Kuniboa application, underscoring the broader regional opportunity to consolidate and explore an underexplored but prospective gold corridor in southeastern Côte d'Ivoire.
Nesdave Earn-In Agreements
As announced on March 4, 2025, Kobo previously entered into earn-in agreements (the " Nesdave Earn-In Agreements ") with NESDAVE MINING SARL (" Nesdave ") with respect to two exploration licences, PR-0970 and PR-0973.
Pursuant to the Nesdave Earn-In Agreements , as amended on July 25, 2025, the Company can acquire (i) a 90% interest in the PR-0970 license over the next four years by investing 550 million CFA F (approximately C$1.25 million), with 75 million CFA F (approximately C$171,500) being invested in the first year, and (ii) a 90% interest in the PR-0973 license over the next four years by investing 555 million CFA F (approximately C$1.27 million), with 80 million CFA F (approximately C$183,000) being invested in the first year.
Furthermore, in the event Kobo elects to apply for an Exploitation Licence with respect to any of the properties covered under the Nesdave Earn-In Agreements , Kobo and Nesdave will constitute a joint venture with respect to the exploitation of such property which will be held as to 80% by Kobo , 10% by Nesdave and 10% by the Government of Côte d'Ivoire.
Finally, each of the Nesdave Earn-In Agreements grants a 1% NSR to Nesdave with the Company retaining the right to buy back 50% of such NSR in consideration of a C$1.0 million payment. Following the completion of a positive Feasibility Study leading to the issuance of an Exploitation License, Nesdave will also be entitled to receive (i) a bonus payment of C$1.00 per proven and probable ounce of gold discovered and (ii) subject to approval of the TSXV, 350,000 common shares of the Company's share-capital.
Subject to approval from the TSXV, Kobo will issue 60,000 common shares to Nesdave in connection with the execution of the Nesdave Earn-In Agreements . Such common shares will be issued to Nesdave pursuant to an exemption from the prospectus requirements of applicable Canadian securities laws and will be subject to a hold period of four months and one day.
Review of Technical Information
The scientific and technical information in this press release has been reviewed and approved by Paul Sarjeant, P.Geo., who is a Qualified Persons as defined in National Instrument 43-101. Mr. Sarjeant is the President and Chief Operating Officer and Director of Kobo.
About Kobo Resources Inc.
Kobo Resources is a growth-focused gold exploration company with a compelling new gold discovery in Côte d'Ivoire, one of West Africa's most prolific and developing gold districts, hosting several multi-million-ounce gold mines. The Company's 100%-owned Kossou Gold Project is located approximately 20 km northwest of the capital city of Yamoussoukro and is directly adjacent to one of the region's largest gold mines with established processing facilities.
With over 18,500 metres of diamond drilling, nearly 5,900 metres of reverse circulation (RC) drilling, and 5,900 metres of trenching completed since 2023, Kobo has made significant progress in defining the scale and prospectivity of its Kossou's Gold Project . Exploration has focused on multiple high-priority targets within a 9+ km strike length of highly prospective gold-in-soil geochemical anomalies, with drilling confirming extensive mineralisation at the Jagger, Road Cut, and Kadie Zones. The latest phase of drilling has further refined structural controls on gold mineralisation, setting the stage for the next phase of systematic exploration and resource development.
Beyond Kossou , the Company is advancing exploration at its Kotobi Permit and is actively expanding its land position in Côte d'Ivoire with prospective ground, aligning with its strategic vision for long-term growth in-country. Kobo remains committed to identifying and developing new opportunities to enhance its exploration portfolio within highly prospective gold regions of West Africa. Kobo offers investors the exciting combination of high-quality gold prospects led by an experienced leadership team with in-country experience. Kobo's common shares trade on the TSX Venture Exchange under the symbol "KRI". For more information, please visit www.koboresources.com .
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Statement on Forward-looking Information:
This news release may contain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements, including statements related to the issue of the common shares, the future development of the Company and the Company's plan with respect to the properties subject to the Geoservices Earn-In Agreement and the Nesdave Earn-In Agreements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable as at the date of this news release, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inherent risks involved win the exploration and development of mineral properties; unanticipated costs and expenses; the delay or failure to receive board, shareholder or regulatory approvals; and other risk factors listed from time to time in our documents filed with Canadian securities regulators on SEDAR+ at www.sedarplus.ca . There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Kobo assumes no obligation and/or liability to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
1 Newmont Mining, Internal Report, Adzope License (Coté d'Ivoire) Final Report, October 2010
View source version on businesswire.com: https://www.businesswire.com/news/home/20250731071790/en/
For further information, please contact:
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com
Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.
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