Kalo Gold Identifies New Priority Epithermal Gold Targets With New Geological and Mineralization Model, Vatu Aurum Gold Project, Fiji

Release Highlights:

• Ongoing synthesis and reinterpretation of multiple exploration datasets, along with geophysical work completed by Kalo in 2023, has resulted in a significant advancement in the understanding of the geology and mineralization of the Vatu Aurum Gold Project, specifically the Qiriyaga Hill Prospect ("Qiriyaga").
• The Qiriyaga Hill Prospect is associated with flat lying fragmental units with juvenile clasts and sediments that constitute a potential crater (maar) level setting of volcanic eruptions. The volcanism has created vents and feeder zones that are potential conduits for the discovery of economic gold mineralization.
• Alteration distribution based on drill core and surface exposures, indicates a shallow, 50-to-100-meter, level of erosion of the epithermal system, including sinter, leaving the entire epithermal system intact.
• Multi-element soil, trench, and rock geochemical anomalies have highlighted faults associated with multiple caldera rims. Elements that are typically dispersed above and beyond boiling levels (Tl, Mo, Sb, Hg and As/Fe ratio) and those that are typically concentrated around fluid boiling levels in epithermal settings (Au, Pb, Te, Ag and Fe/Ti ratio) along with known geological and geophysical data sets have provided clarity in target ranking.
• A Controlled-Source Audio-frequency Magnetotellurics ("CSAMT") geophysical survey has successfully identified six priority targets that are associated both with the down dip extent of known mineralization and anomalous soil and trench geochemical targets associated with surface silicification and hydrothermal alteration.

VANCOUVER, BC / ACCESSWIRE / September 21, 2023 / KALO GOLD CORP. ("Kalo", "Kalo Gold" or the "Company") is pleased to provide an update on the exploration program at Vatu Aurum Gold Project ("Vatu Aurum" or the "Project"), Republic of Fiji. Multiple exploration datasets have been synthesized, allowing for a focused ranking and prioritization process of the property-wide targets. Follow-up exploration programs will be designed, with a near-term focus on the Qiriyaga. Qiriyaga is one of the six identified priority targets located within a 33 kilometer ("km") long NE trending gold corridor.

Vatu Aurum hosts a minimum of seven volcanic arc related caldera complexes with associated gold-mineralized epithermal systems. Compilation of airborne geophysics, ground geophysics, including the recently completed CSAMT survey, diamond drilling, geological mapping, geochemical sampling has focussed on the identification of vent and caldera margins at Qiriyaga that would provide a good host for economic gold mineralization. The alteration and mineralization at Qiriyaga indicate a shallow level of erosion (~50 to 100m, including sinter units, hosted by fragmental units at the crater (maar) level leaving the entire epithermal system intact.

Mr. Terry L Tucker, P.Geo, President and CEO of Kalo, commented "We are pleased to leverage the results of the 2023 exploration program and compilation of the vast amount of geological, geochemical, and geophysical information that has been collected by Kalo and earlier exploration efforts. This process has provided extremely valuable information to Kalo Gold to build a new geological and mineralization model. Importantly, this has allowed us to identify several new potential targets and prioritize exploration drill targets. The interpretation of the CSAMT results, in conjunction with the known exploration data, has been an important tool that has allowed the correlation of known gold mineralization and potentially the down dip "resistive zones" of soil and trench geochemical anomalies and known surface alteration and mineralization. We are looking forward to testing the new zones in follow-on exploration programs at the Vatu Aurum Gold Project and further expanding the known gold mineralized zones of Qiriyaga."

CSAMT Geophysical Program

A CSAMT geophysical survey consisting of 57.6-line km covering 12.5 km² over Qiriyaga was completed, including coverage of the high-grade epithermal Au mineralization of the Qiriyaga Hill and Vuinubu Ridge Gold Deposits. Detailed interpretation of the CSAMT results has defined six target areas that have been labelled Targets 1 to 6 in Figure 1.

Target 1:	The trenching, soil, and drill results at Qiriyaga, correlate well with a moderately resistive zone (~200 Ω⋠m*) approximately 900 x 450 m in size and located immediately to the northeast of the Qiriyaga Hill Gold Deposit and has largely remain untested with drilling.
Target 2:	A linear resistive trend extending northeast from Qiriyaga East.
Target 3:	A moderate resistivity anomaly (~100 - 200 Ω⋠m) associated with the Vuinubu Ridge Gold Deposit mineralization and soil anomalies at Vuinubu Ridge. In deeper resistivity slices (below -200 m) the resistive zone appears to extend another 500 m to the southwest.
Target 4:	A large 700 x 150 m NE resistive trend near Urabuta. The resistivity in the upper slices (0 to 200 m) reaches over 1000 Ω⋠m.
Target 5:	A large 700 x 150 m NE resistive trend near Drudrusavu increases with resistivity at deeper slices. In the -100 m slice, the resistivity is 500 - 700 Ω⋠m. As the depth increases the resistivity also increases to over 1000 Ω⋠m. Placer Dome drill hole FDD-1986-03 intersected 40 meters of 0.6 g/t gold including 10 meters averaging 1.78 g/t gold but was drilled to the SE, away from the resistivity anomaly. The target was tested by the Company and confirmed this mineralization with details to follow in an upcoming news release.
Target 6:	A resistivity target located very close to high gold in soil anomaly ~250 m SE of Drudrusavu.
*Note: Electrical resistivity is a measure of a material's property to oppose the flow of electric current. This is expressed in Ohm-meters (Ω⋠m)
		Figure 1: Qiriyaga - CSAMT 1D Inversion at 200 meters with six key target zones identified.

Geology and Mineralization Model
In conjunction with the CSAMT survey, a complete relogging of all drill core available since 1986 and compilation of soil, rock and drill hole geochemical results, this synthesis and has resulted in a new geological and mineralization model for Qiriyaga as illustrated in Figure 2.

Qiriyaga is underlain by flat lying fragmental units with juvenile clasts and sediments that could constitute a maar (crater) level setting of volcanism. These craters have vents and feeder zones that are potential locations of economic gold mineralization. Alteration distribution in drill core indicates a shallow, 50-to-100-meter, level of erosion of the epithermal system leaving the entire epithermal system intact. The presence of zones of white mica (2200 nm wavelength) suggests proximity to conduits or vents that acted as conduits of hydrothermal fluids.

Figure 2: Qiriyaga Hill Prospect - Geological and Mineralization Model.

Gold mineralization known to date has been primarily documented with the Qiriyaga Hill and Vuinubu Ridge Gold Deposits which are hosted within volcanic breccias within the calderas. The new geological model suggests that focus for the next round of exploration drilling will be to drill conduits (structures) where hydrothermal alteration suggests mineralizing fluids would have deposited the gold along such pathways. The CSAMT resistivity targets and spectral study support this approach and will provide focus for the ongoing exploration work.

Soil Geochemical Data Analysis
Multielement soil, trench, and rock geochemical anomalies have highlighted targets has been based on elements that are typically dispersed above and beyond boiling levels (Tl, Mo, Sb, Hg and As/Fe ratio) and those that are typically concentrated around fluid boiling levels in epithermal settings (Au, Pb, Te, Ag and Fe/Ti ratio). As illustrated in Figures 4 and 5 the area of highest concentration of "boiling level" elements relates specifically to the Namalau SW, C and NE targets as located on Figure 3. An interpretation of the underlying geology in the context of the information available to date is presented in four cross sections labelled A to A1, B to B1, C to C1 and D to D1 found in Figures 6 to 10.

Figure 3: Qiriyaga Hill Prospect - Targets with location on interpreted ring faults associated with caldera margins, compiled with CSAMT, soil geochemistry and interpreted locations of fluid upwelling, generally along caldera margins.

Summary
The Company has engaged with several geological and geochemical specialists to assist with the ongoing interpretation of the vast amount of exploration data that has been collected at Vatu Aurum over the past 30 years. This includes Dr. Thomas Bissig, Dr. Jeff Hedenquist and Mr. Andy Randell, P.Geo.

This new geological model has allowed Kalo to prioritize and rank several targets located at the Qiriyaga Hill Prospect. The results of drilling completed to date at both Mouta and Drudrusavu are being finalized and will be reported shortly. Drilling is expected to recommence late in September with full details to be provided in subsequent announcements.

ABOUT KALO GOLD CORP.
Kalo Gold Corp, a gold exploration company, is focused on exploration for low sulphidation epithermal gold deposits of the Vatu Aurum Gold Project on the island of Vanua Levu (North Island) in the Republic of Fiji. Kalo holds a 100% interest in two Special Prospecting Licenses, covering 367 km² that hosts a minimum of seven volcanic arc related calderas ranging between 1 to 10km in diameter in a geological setting that could be analogous to the alkaline related low sulphidation epithermal gold deposits of both the neighbouring Vatukoula Gold Mine and the Lion One Metals' Tuvatu Alkaline Gold Project. Historical exploration work concentrated on the Qiriyaga Hill and Vuinubu Ridge Gold Deposits and resulted in the identification of over fourteen priority epithermal gold exploration targets.

Both Viti Levu, (South Island), and Vanua Levu are on the prolific Pacific "Ring of Fire", a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg and on Viti Levu, the exceptional Vatukoula Gold Mine. The Vatukoula Gold Mine has produced more than 7 million ounces of gold since 1937. The island of Viti Levu also hosts the fully permitted Tuvatu Alkaline Gold Project, where Lion One Metals is fast tracking a high-grade underground gold mining operation.

Qualified Person

The technical disclosure in this news release has been approved by Terry L. Tucker, P.Geo. a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

On behalf of the Board of Directors of Kalo Gold Corp.

Terry L. Tucker, P.Geo
President and Chief Executive Officer
and
Kevin Ma, CPA, CA
Executive Vice President, Capital Markets and Director

For more information, please write to info@kalogoldcorp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Statements Disclaimer

Certain statements in this release are forward-looking statements, which are statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this news release include statements relating to the Company's proposed drilling timeline and the proposed expansion of the exploration program, and the Company's plans for future exploration on the Vatu Aurum Gold Project. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements included in this news release, other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to raise the necessary capital to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's filing statement dated February 9, 2021 and latest interim Management Discussion and Analysis filed with certain securities commissions in Canada.

The reader is cautioned that assumptions used in the preparation of any forward-looking statements herein may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect, and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Figure 4: Qiriyaga Hill Prospect - Elements that are typically concentrated around fluid boiling levels in epithermal settings.

Figure 5: Qiriyaga Hill Prospect - Elements that are typically dispersed and beyond boiling levels in epithermal settings.

Figure 6: Qiriyaga Hill Prospect - Targets with location on interpreted ring faults associated with caldera margins.

Figure 7: Qiriyaga Hill Prospect - Section A to A1 geological and gold mineralization model.

Figure 8: Qiriyaga Hill Prospect - Section B to B1 geological and gold mineralization model.

Figure 9: Qiriyaga Hill Prospect - Section C to C1 geological and gold mineralization model.

Figure 10: Qiriyaga Hill Prospect - Section D to D1 geological and gold mineralization model.

SOURCE: Kalo Gold Corp.