KORE Mining Files Final Prospectus and Amended Technical Reports on the Imperial and Long Valley Gold Projects

Conclusions and Economic Outlooks of the Imperial and Long Valley Preliminary Economic Assessments Remain Unchanged

VANCOUVER, June 11, 2021 - Kore Mining Ltd. (TSXV: KORE) (OTCQX: KOREF) ("KORE" or the "Company") is pleased to announce that as part of its C$8 million bought deal financing through a syndicate of underwriters led by Canaccord Genuity Corp. and including PI Financial Corp. and Cormark Securities Inc. (the "Underwriters") announced on May 11, 2021 (the "Financing"), the Company has filed the final short form prospectus with the securities commissions in each of the provinces of Canada, other than Québec, and has filed its independent amended technical reports for both the Imperial gold project ("Imperial") and the Long Valley gold project ("Long Valley"). The Company now expects to close the Financing on June 18, 2021 or such other date as may be agreed to by the Company and the Underwriters.

The TSX Venture Exchange has conditionally approved the Financing and the listing of the common shares to be issued and issuable in connection with the Financing, subject to customary conditions.

As a result of the review by staff at the British Columbia Securities Commission in connection with the Financing, certain form related and other required revisions were made to the technical report for Imperial originally announced April 6, 2020 and the technical report for Long Valley originally announced October 27, 2020. There are no changes to the mineral resource estimates and the revisions have no effect on the mine plan or project preliminary economic assessments. The Company has filed the amended technical report for Imperial and the amended technical report for Long Valley on SEDAR at www.sedar.com and they are also available at www.koremining.com.

KORE also made certain changes to disclosure on the Company's website, including in its media presentations / interviews and in the Company's investor presentation. Investors are cautioned that only the current version of the Company's materials on its website www.koremining.com should be relied upon and that any media presentations / interviews that otherwise appear in the public domain should not be relied upon.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

About KORE Mining
KORE is 100% owner of the Imperial and Long Valley gold projects in California. Both projects have positive preliminary economic assessments. KORE is supported by strategic investor Eric Sprott who owns 26% of KORE's basic shares. KORE management and Board are aligned with shareholders, owning an additional 38% of the basic shares outstanding. KORE is actively advancing its Imperial Gold project and is aggressively exploring across its portfolio of assets.

Further information on Imperial and KORE can be found on the Company's website at www.koremining.com or by contacting us at info@koremining.com or by telephone at (888) 407-5450.

On behalf of Kore Mining Ltd.
"Scott Trebilcock"
Chief Executive Officer
(888) 407-5450

Technical information with respect to the District and Imperial and Long Valley gold projects contained in this news release has been reviewed and approved by Marc Leduc, P.Eng, who is KORE's COO and is the qualified person under National Instrument 43-101 responsible for the technical matters of this news release.

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

Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", "intends", "indicates" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the successful closing and anticipated timing of closing of the Financing, the receipt of final approval of the TSX Venture Exchange for the Financing, and the mineral resource estimates and the status of the mine plan and project preliminary economic assessments for Imperial and Long Valley. Such forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information.

Such factors include, among others: risks related to exploration and development activities at the Company's projects, and factors relating to whether or not mineralization extraction will be commercially viable; risks related to mining operations and the hazards and risks normally encountered in the exploration, development and production of minerals, such as unusual and unexpected geological formations, rock falls, seismic activity, flooding and other conditions involved in the extraction and removal of materials; uncertainties regarding regulatory matters, including obtaining permits and complying with laws and regulations governing exploration, development, production, taxes, labour standards, occupational health, waste disposal, toxic substances, land use, environmental protection, site safety and other matters, and the potential for existing laws and regulations to be amended or more stringently implemented by the relevant authorities; uncertainties regarding estimating mineral resources, which estimates may require revision (either up or down) based on actual production experience; risks relating to fluctuating metals prices and the ability to operate the Company's projects at a profit in the event of declining metals prices and the need to reassess feasibility of a particular project; that estimated resources will be recovered or that they will be recovered at the rates estimated; risks related to title to the Company's properties, including the risk that the Company's title may be challenged or impugned by third parties; the ability of the Company to access necessary resources, including mining equipment and crews, on a timely basis and at reasonable cost; competition within the mining industry for the discovery and acquisition of properties from other mining companies, many of which have greater financial, technical and other resources than the Company, for, among other things, the acquisition of mineral claims, leases and other mineral interests as well as for the recruitment and retention of qualified employees and other personnel; access to suitable infrastructure, such as roads, energy and water supplies in the vicinity of the Company's properties; and risks related to the stage of the Company's development, including risks relating to limited financial resources, limited availability of additional financing and potential dilution to existing shareholders; reliance on its management and key personnel; inability to obtain adequate or any insurance; exposure to litigation or similar claims; currently unprofitable operations; risks regarding the ability of the Company and its management to manage growth; and potential conflicts of interest.

In addition to the above summary, additional risks and uncertainties are described in the "Risk Factors" section of the Company's annual information form for the year ended December 31, 2020 available under the Company's issuer profile on www.sedar.com.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information 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 forward-looking information.

The preliminary economic assessment in each of the technical reports is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that such preliminary economic assessment will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

SOURCE Kore Mining



Contact
Investor Relations: Arlen Hansen, KIN Communications, 1-888-684-6730, kore@kincommunications.com