(TheNewswire)

GRANDE PRAIRIE, ALBERTA TheNewswire – (Nov. 20, 2025): Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) (‘ANGKOR’ OR ‘THE COMPANY’) announces further analysis, assays, and conclusions on the drill core from Andong Bor license in Oddar Meanchey Cambodia.

Dennis Ouellette, VP Exploration for Angkor, with associate geologists has reviewed the Andong Bor drill core from historical drilling with the most recently 2025 drilled holes 009 and 010.  The two new holes (ABDDH25 -009, -010), of which 009 was substantially deeper, has sections of drill core, roughly from 245 metres to 316 metres in which mineralization with abundant pyrite and chalcopyrite was observed.

Previously, in late 2022, analysis was based only on core drilled by a different company. (see  press release ANGKOR CONFIRMS 108 METRES OF 0.53% COPPER EQUIVALENT AT ANDONG BOR, CAMBODIA | Angkor Resources Corp. )The 2025 drill core from both holes is being logged in detail and cut for sampling purposes.

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Figure 1 Drill core being cut in half in preparation for assays.

Further conclusions from the analysis indicate that the structural relationship between the intrusive rock and the host sedimentary rock was not revealed in the previous drilling (ADBDH16-005, -006, -007, -008) as all the contacts were faulted or there was poor core recovery at those sites.

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Figure 2 Drill core marked for cutting (see pink lines on core at bottom of picture).

Mr. Ouellette summarizes findings, ‘The best copper mineralization in Andong Bor diamond drill core is hosted by the sedimentary rocks. The diorite (coarse-grained rock) feldspar porphyry intrusive rocks can host low grade copper porphyry-style mineralization, such as ‘B’ and ‘D’ style veins and disseminations. However, in proximity to the highly reactive wallrock (where the intrusive rock is surrounded by the sedimentary rock), the assay values increase dramatically.’

He continues with other conclusions, ‘ The contacts where sedimentary rock and intrusive rock have met are very steep – from 70 to 80 degrees. Mineralization within the sediments is both disseminated and along fractures parallel to these contacts. This implies significant ground preparation (probably with magma or similar catalysts) prior to mineralization.   The sedimentary (country) rock was heavily fractured, so when the intrusion and mineralization events occurred, they followed the pre-existing fractures.  Knowing this impacts the design of our continuation of the drill program in a manner which we expect will result in both shallower and increased mineralized intercepts.’

Assays will be forwarded to ALS when all core cutting is completed and plans for continuation of drilling extend into 2026.

QUALIFIED PERSON:

Dennis Ouellette, B.Sc., P.Geo., is a member of The Association of Professional Engineers and Geoscientists of Alberta (APEGA #104257) and a Qualified Person as defined by National Instrument 43-101 (‘NI 43-101’). He is the Company’s VP Exploration on site and has reviewed and approved the technical disclosure in this document.

ABOUT Angkor Resources CORPORATION:

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia.   The company’s mineral subsidiary, Angkor Gold Corp. in Cambodia holds two mineral exploration licenses in Cambodia with multiple prospects of copper and gold.

Its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometres in the southwest quadrant of Cambodia called Block VIII.   The company then removed all parks and protected areas and added 220 square kilometres, making the license just over 4095 square kilometres.  EnerCam is actively advancing oil and gas exploration activities onshore to meet its mission to prove Cambodia as an oil and gas producing nation.

Since 2022, Angkor’s Canadian subsidiary, EnerCam Exploration Ltd., has been involved in oil and gas production in Saskatchewan, Canada and undertaken carbon and gas capture to reduce emissions.  ANGKOR’s carbon capture and gas conservation project is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across jurisdictions.

CONTACT: Delayne Weeks – CEO

Email:- info@angkorresources.com Website: angkor resources.com

Telephone: +1 (780) 568-3801

Please follow @AngkorResources on , , , Instagram and .

Neither 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.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results o f future exploration, and the availability of financing.

Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Copyright (c) 2025 TheNewswire – All rights reserved.

E-Power Resources Inc. (CSE: EPR) (‘E-Power’ or the ‘Company’) is pleased to provide the results of recently completed metallurgical testwork from the Company’s flagship Tetepisca Flake Graphite Property located in the Innu Nation of Pessamit, North Shore Region of Quebec. The metallurgical testwork was completed at SGS Canada Inc. (‘SGS’).

Highlights

• Exceptional Metallurgical Results: Achieved 96.7% Flotation Recovery and a 94.8% Ct Concentrate Grade from the Graphi West sample, confirming amenability to producing a high-purity product.

• Significant Large Flake Recovery: Flake size distribution for the Syndicate concentrate showed approximately 40% medium flake or larger (> 80 mesh), including approximately 22% large flake or larger, a key indicator of high-value product potential.

• High Resource Grade Potential: High grade bulk samples from three distinct mineralized zones have been tested: the Captain Cosmos Target (32.7% Cg), the Syndicate Target (25.0% Cg), and the Graphi West target (15.3% Cg).

Jamie Lavigne, COO for E-Power commented: ‘The metallurgical test work is the first completed on the Company’s Tetepisca property and was designed as a scoping-level evaluation of graphite recovery. The results demonstrate the potential for flake graphite mineralization on the Tetepisca property to yield a high value concentrate with composition and flake size characteristics meeting commercial specifications. These results, and the results of additional test work planned, will provide a basis for prioritizing targets on our large position for delineation and resource estimation.’

Metallurgical Test Results Summary

Samples from the Syndicate, Graphi West, and Captain Cosmos targets were tested. The objective was a scoping-level evaluation of flotation potential with a flow sheet target concentrate grade was 95% Ct. Particle size analyses were completed on the final concentrates.

Summary table of results

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Both the Graphi West (94.8% Ct) and Syndicate (94.7% Ct) samples achieved concentrate grade very close to the target. The weighted average grade for the four middle particle size classes (<300 µm) to (>44 µm) was (96.41% Ct) for Graphi West and (96.34% Ct) for Syndicate. Further work utilizing a revised flow sheet is planned for the Captain Cosmos target.

About the Tetepisca Property

The Tetepisca Property is located in the Innu Nation of Pessamit, approximately 220 km north of the town of Baie-Comeau in the North Shore Region of Québec. The property consists of 234 claims covering an area of approximately 12,665 hectares within the emerging Tetepisca Graphite District (‘TGD’) (map attached.). The property is 100% owned by E-Power. Fifty-two claims, located in the southern part of the property, are subject to a 1.5% NSR held by a group of local prospectors. The TGD is an active graphite exploration and development district with delineated Measured and Indicated Resources in excess of 120 Mt at an average grade of approximately 14% Cg.

About E-Power

E-Power Resources Inc. is a Québec Corporation based in Montréal and focused on battery minerals exploration in Québec. The Company is currently focussed on flake graphite resource development on the Tetepsica Property located in the Innu Nation of Pessamit, North Shore Region of Quebec.

Sources of Information and Qualified Person

The district resource data used in this news release is derived from the following public sources:

• Lac Tétépisca Graphite Project Québec: NI 43-101 Technical Report Mineral Resource Estimate by Focus Graphite, 2022.
• Uatnan Graphite Project: NI 43-101 Technical Report Feasibility Study Update, 2023.
• Lac Gueret South Property: NI 43-101 Technical Report Mineral Resource Estimate on the Lac Gueret South Property by Berkwood Resources Ltd., 2019.

The locations of historical graphite occurrences in the TGD is from the data file of Non-metallic deposits in Quebec, available from the SIGEOM website, Ministère des Ressources Naturelles et des Forêts.

Jamie Lavigne, P. Geo, Chief Operating Officer and Director for E-Power, is a Qualified Person as defined in National Instrument 43-101 (NI 43-101) and has reviewed and approved the technical information in this press release.

Map 1

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Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX: OM,OTC:OMZNF ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

Osisko Metals CEO Robert Wares commented: ‘These latest results continue to confirm significant higher-grade mineralization in the southern extension, with hole 30-1136 returning 64.5 metres averaging 2.70% Cu. We remain highly confident about the growth of our project and look forward to the updated Mineral Resource Estimate in early 2026.’

New analytical results are presented below (see Table 1), including 21 mineralized intercepts from eight new drill holes. Infill intercepts are located inside the 2024 MRE model ( see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as ‘Both’). Maps showing hole locations are available at www.osiskometals.com .

Highlights:

• Drill hole 30-1136
  • 284.5 metres averaging 0.41% Cu (0.43% CuEq – expansion)
  • 138.0 metres averaging 1.45% Cu (1.52% CuEq – expansion), including 64.5 metres averaging 2.70% Cu (2.82% CuEq – expansion)
• Drill hole 30-1120
  • 598.5 metres averaging 0.28% Cu (0.37% CuEq – infill and expansion)
• Drill hole 30-1129
  • 881.0 metres averaging 0.22% Cu (0.30% CuEq – infill and expansion)
• Drill hole 30-1133
  • 550.5 metres averaging 0.28% Cu (0.36% CuEq – infill and expansion)
• Drill hole 30-1134
  • 309.0 metres averaging 0.17% Cu (0.27% CuEq – infill and expansion)
  • 228.5 metres averaging 0.41% Cu (0.52% CuEq – expansion)
• Drill hole 30-1138
  • 685.8 metres averaging 0.27% Cu (0.35% CuEq – infill)
• Drill hole 30-1139
  • 873.0 metres averaging 0.23% Cu (0.29% CuEq – infill)
• Drill hole 30-1140
  • 105.0 metres averaging 0.43% Cu (0.50% CuEq – infill)

Table 1: Infill and Expansion Drilling Results

* See explanatory notes below on copper equivalent values and Quality Assurance/Quality Controls.
** ‘Both’ indicates drill holes that have contiguous shallower infill as well as deeper expansion intercepts.

Discussion

Drill hole 30-1120, located on top of Copper Mountain near the centre of the 2024 MRE model, cut two significant mineralized intervals including 272.5 metres averaging 0.22 % Cu and 1.84 g/t Ag, followed by 598.5 metres averaging 0.28% Cu, 1.60 g/t Ag and 0.023% Mo, extending mineralization in this area to a vertical depth of 1140 metres.

Drill hole 30-1129, located on the western flank of Copper Mountain, cut two mineralized intervals including 881.0 metres averaging 0.22 % Cu and 4.32 g/t Ag and 0.014% Mo (which includes 200 metres of depth expansion), extending mineralization in this area to a vertical depth of 897.9 metres.

Drill hole 30-1133, located on the western flank of Copper Mountain, cut three mineralized intervals including 550.5 metres averaging 0.28 % Cu, 1.89 g/t Ag and 0.018% Mo (infill). This hole extended mineralization in this area to a vertical depth of 831 metres, ending in the porphyry intrusion core of the Copper Mountain deposit.

Drill hole 30-1134, located near the south-western lip of the Copper Mountain open pit, cut three mineralized intervals including 309.0 metres averaging 0.17 % Cu, 0.74 g/t Ag and 0.027% Mo (infill) as well as a deeper intersection of 228.5 metres averaging 0.41 % Cu, 1.67 g/t Ag and 0.027% Mo (expansion), extending mineralization in this area to a vertical depth of 1008.5 metres.

Drill hole 30-1136, located 125 metres south of the southern margin of the 2024 MRE model, cut two mineralized intersections, all expansion outside the current resource model, including 284.5 metres averaging 0.41 % Cu and 2.83 g/t Ag within (and above) the B and C Zone skarn horizons, as well as 138.0 metres averaging 1.45 % Cu and 10.8 g/t Ag from 45 metres above the E Zone horizon to 88 metres below it. This latter intersection included a high-grade interval of 64.5 metres averaging 2.70 % Cu and 19.0 g/t Ag that comprised dense sulfide vein/breccia zones located above and below the E Zone horizon, the latter consisting of replacement massive sulfides averaging 9.1% Cu over 4.5 metres. The vein/breccia zones are similar to what was encountered in drill hole 30-1128, located 95 metres west of 30-1136 ( see November 12, 2025 news release ). The massive sulfides in drill hole 30-1136 are located in what was previously described as the tabular E-28 Zone at Gaspé Copper, defined over a 240 m X 40 m area but never mined. However, the sulfide vein/breccia zones around the E Zone horizon were not previously documented in this area, and their extent and orientation are presently unknown.

Drill hole 30-1138, located near the southern lip of the Copper Mountain open pit, cut one mineralized interval of 685.8 metres averaging 0.27 % Cu, 1.47 g/t Ag and 0.018% Mo (infill). This hole confirmed mineralization in this area to a vertical depth of 725 metres, ending in the porphyry intrusion core of the Copper Mountain deposit.

Drill hole 30-1139, located on top of Copper Mountain near the centre of the 2024 MRE model, cut two significant mineralized intervals including 873.0 metres averaging 0.23 % Cu, 1.78 g/t Ag and 0.011% Mo confirming mineralization in this area to a vertical depth of 815 metres.

Drill hole 30-1140, located near the eastern margin of the 2024 MRE model, cut five intersections of mineralization, 55 to 193 metres thick and distributed in ‘layer cake’ fashion from surface, including 105.0 metres averaging 0.43 % Cu, 3.08 g/t Ag and 0.012% Mo extending mineralization in this area to a vertical depth of 856 metres.

Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. One prograde and at least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier, bedding replacement skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-parallel mineralization, that is mostly stratigraphically controlled, dominates in the area of lower Copper Mountain, Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).

The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

Most holes are being drilled sub-vertically into the altered calcareous stratigraphy that dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.

Table 2: Drill hole locations

Explanatory note regarding copper-equivalent grades

Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum, and US$24/oz silver; 3) estimated recoveries of 92%, 70%, and 70% for Cu, Mo, and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7%, and 75.0% for Cu, Mo, and Ag respectively.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

Quality Assurance / Quality Control

Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 10 metres or less are not reported unless indicating significantly higher grades .   True widths are estimated at 90 – 92% of the reported core length intervals.

Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘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, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission, or other regulatory authority has approved or disapproved the information contained herein.

Photos accompanying this announcement are available at:
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Coelacanth Energy Inc. (TSXV: CEI,OTC:CEIEF) (‘Coelacanth’ or the ‘Company’) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2025. All dollar figures are Canadian dollars unless otherwise noted.

HIGHLIGHTS

• Increased oil and natural gas sales 381% to $11.4 million in Q3 2025 from $2.4 million in Q3 2024.

• Subsequent to September 30, 2025, entered into a $80.0 million credit facility with current lender to replace its previous credit facilities.

(1) See ‘Non-GAAP and Other Financial Measures’ section.

(1) See ‘Oil and Gas Terms’ section.
(2) See ‘Product Types’ section.
(3) See ‘Non-GAAP and Other Financial Measures’ section.

Selected financial and operational information outlined in this news release should be read in conjunction with Coelacanth’s unaudited condensed interim financial statements and related Management’s Discussion and Analysis (‘MD&A’) for the three and nine months ended September 30, 2025, which are available for review under the Company’s profile on SEDAR+ at https://www.sedarplus.ca.

OPERATIONS UPDATE

Coelacanth is continuing to work through its business plan of delineating and developing its large Montney resource base at Two Rivers that encompasses over 150 contiguous sections of Montney land tenure.

We are currently drilling three additional development wells on the 5-19 pad and will systematically bring on production from these wells plus prior drilled wells on the pad from now through early February.

Future development will consist of continued drilling in the vicinity of the 5-19 pad while significant step-outs will be incorporated into the capital budget to accelerate the delineation of the resource both aerially through the land base and vertically through the various Montney zones present on the land base.

We look forward to reporting on future developments as they arise.

OIL AND GAS TERMS

The Company uses the following frequently recurring oil and gas industry terms in the news release:

Disclosure provided herein in respect of a boe may be misleading, particularly if used in isolation. A boe conversion rate of six thousand cubic feet of natural gas to one barrel of oil equivalent has been used for the calculation of boe amounts in the news release. This boe conversion rate is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

NON-GAAP AND OTHER FINANCIAL MEASURES

This news release refers to certain measures that are not determined in accordance with IFRS (or ‘GAAP’). These non-GAAP and other financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other entities. The non-GAAP and other financial measures should not be considered alternatives to, or more meaningful than, financial measures that are determined in accordance with IFRS as indicators of the Company’s performance. Management believes that the presentation of these non-GAAP and other financial measures provides useful information to shareholders and investors in understanding and evaluating the Company’s ongoing operating performance, and the measures provide increased transparency to better analyze the Company’s performance against prior periods on a comparable basis.

Non-GAAP Financial Measures

Adjusted funds flow (used)
Management uses adjusted funds flow (used) to analyze performance and considers it a key measure as it demonstrates the Company’s ability to generate the cash necessary to fund future capital investments and abandonment obligations and to repay debt, if any. Adjusted funds flow (used) is a non-GAAP financial measure and has been defined by the Company as cash flow from (used in) operating activities excluding the change in non-cash working capital related to operating activities, movements in restricted cash deposits and expenditures on decommissioning obligations. Management believes the timing of collection, payment or incurrence of these items involves a high degree of discretion and as such may not be useful for evaluating the Company’s cash flows. Adjusted funds flow (used) is reconciled from cash flow from (used in) operating activities as follows:

Net transportation expenses
Management considers net transportation expenses an important measure as it demonstrates the cost of utilized transportation related to the Company’s production. Net transportation expenses is calculated as transportation expenses less unutilized transportation and is calculated as follows:

Operating netback
Management considers operating netback an important measure as it demonstrates its profitability relative to current commodity prices. Operating netback is calculated as oil and natural gas sales less royalties, operating expenses, and net transportation expenses and is calculated as follows:

Capital expenditures
Coelacanth utilizes capital expenditures as a measure of capital investment on property, plant, and equipment, exploration and evaluation assets and property acquisitions compared to its annual budgeted capital expenditures. Capital expenditures are calculated as follows:

Capital Management Measures

Adjusted working capital (deficiency)
Management uses adjusted working capital (deficiency) as a measure to assess the Company’s financial position. Adjusted working capital (deficiency) is calculated as current assets and restricted cash deposits less current liabilities, excluding the current portion of decommissioning obligations.

Non-GAAP Financial Ratios

Adjusted Funds Flow (Used) per Share
Adjusted funds flow (used) per share is a non-GAAP financial ratio, calculated using adjusted funds flow (used) and the same weighted average basic and diluted shares used in calculating net loss per share.

Net transportation expenses per boe
The Company utilizes net transportation expenses per boe to assess the per unit cost of utilized transportation related to the Company’s production. Net transportation expenses per boe is calculated as net transportation expenses divided by total production for the applicable period.

Operating netback per boe
The Company utilizes operating netback per boe to assess the operating performance of its petroleum and natural gas assets on a per unit of production basis. Operating netback per boe is calculated as operating netback divided by total production for the applicable period.

Supplementary Financial Measures

The supplementary financial measures used in this news release (primarily average sales price per product type and certain per boe and per share figures) are either a per unit disclosure of a corresponding GAAP measure, or a component of a corresponding GAAP measure, presented in the financial statements. Supplementary financial measures that are disclosed on a per unit basis are calculated by dividing the aggregate GAAP measure (or component thereof) by the applicable unit for the period. Supplementary financial measures that are disclosed on a component basis of a corresponding GAAP measure are a granular representation of a financial statement line item and are determined in accordance with GAAP.

PRODUCT TYPES

The Company uses the following references to sales volumes in the news release:

Natural gas refers to shale gas
Oil and condensate refers to condensate and tight oil combined
Other NGLs refers to butane, propane and ethane combined
Oil and NGLs refers to tight oil and NGLs combined
Oil equivalent refers to the total oil equivalent of shale gas, tight oil, and NGLs combined, using the conversion rate of six thousand cubic feet of shale gas to one barrel of oil equivalent.

The following is a complete breakdown of sales volumes for applicable periods by specific product types of shale gas, tight oil, and NGLs:

FORWARD-LOOKING INFORMATION

This document contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘believe’, ‘intends’, ‘forecast’, ‘plans’, ‘guidance’ and similar expressions are intended to identify forward-looking statements or information.

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• Drilling continues to expand Kossou’s mineralised footprint, supporting the geological model and future resource definition work
• Drilling confirms strong continuity at the Jagger Zone, a key gold target of Kossou’s emerging resource base
• Additional strike extension at the Road Cut Zone highlights the scalability of mineralisation along the Contact Zone Fault

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Kobo Resources Inc. (‘ Kobo’ or the ‘ Company ‘) ( TSX.V: KRI ) is pleased to announce results of a further 12 boreholes from its ongoing diamond drill program at the 100%-owned Kossou Gold Project (‘ Kossou ‘) in Côte d’Ivoire, West Africa. The latest 12 boreholes total 2,755 metres (‘ m ‘) of drilling, bringing cumulative diamond drilling at Kossou to 26,267 m and total drilling completed to 32,154 m.

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Figure 1: Jagger Zone Drill Hole Locations and Simplified Geology

Diamond Drill Results – Highlights:

Jagger Zone:

• KDD0110
  • 6.0 m at 1.81 g/t Au from surface
  • 6.0 m at 1.77 g/t Au from 10.0 m
  • 8.0 m at 2.82 g/t Au from 148.0 m
• KDD0111
  • 7.0 m at 1.66 g/t Au from 44.0 m
  • 9.0 m at 3.60 g/t Au from 119.0 m, including 6.45 m at 4.74 g/t Au
• KDD0113
  • 8.0 m at 2.54 g/t Au from 188.0 m

Road Cut Zone:

• KDD0112
  • 5.0 m at 3.42 g/t from 120.0 m, including 2.0 m at 7.13 g/t Au
• KDD0118
  • 4.0 m at 3.47 g/t Au from 222.0 m

Edward Gosselin, CEO and Director of Kobo commented: ‘The latest results at Jagger and Road Cut Zone give us further confidence in the interpretation and modelling of the principal mineralised shears at Kossou. These results continue to strengthen the resource potential we are currently defining on the Jagger and Road Cut Zone targets.’

He continued: ‘We continue with our aggressive exploration campaign in the district, currently evaluating encouraging gold showings in new areas along the western parts of the Kossou permit, which we expect to generate drill targets, along with newly discovered artisanal workings at the Kadie Zone. With less than 25% of the licence systematically explored, we strongly believe our successful approach to date supports significant potential for additional discoveries and expansion of the resource base at Kossou.’

Jagger Zone Highlights

Well mineralised intersections are reported at the Jagger Zone between JZ500 and JZ600 (Jagger Structure 6) near surface, confirming the interpreted structural controls to gold mineralisation along the Jagger Shear Zone. See Figure 1 for a simplified geology map and drill hole locations.

Mineralisation grading 8.0 m at 2.82 g/t Au (KDD0110) (see Figure 3), 9.0 m at 3.60 g/t Au (KDD0111) (see Figure 2) and 7.0 m at 1.36 g/t Au ( KDD0115) was reported in Structure 6 at Jagger Zone in these boreholes. The mineralisation in KDD0110 is comparable to the mineralised intersection reported previously on the same drill section (borehole KDD0028 grading 8.0 m at 3.72 g/t Au ).

A broad mineralised zone grading 26.0 m at 0.60 g/t Au (Figure 3) was also intersected in the upper 25.0 m oxidised zone near surface in KDD0110 in central parts of the shear zone.

Road Cut Zone Highlights

Drilling at the Road Cut Zone has focused on two main targets identified to date. The main shear intersected previously on RCZ800, together with mineralisation associated with the Contact Zone Fault and the shears in close proximity of this first order fault. See Figure 4 for simplified geology map and drill hole locations.

Borehole KDD0112 on Section RCZ400 intersected 5.0 m at 3.42 g/t Au associated with the northern strike continuation of the artisanal mine shear zone (see Figure 5). Anomalous grades (0.20-0.25 g/t Au) were also reported along Contact Zone Fault on this section. Borehole KDD0114 on RCZ350 intersected mineralisation grading 4.0m at 0.96 g/t Au confirming the quartz veining and alteration along the Contact Zone Fault to the north of that previously reported.

Encouraging gold intersections have also been reported along the one of the main shears within the mafic package associated with a well-defined shear on RCZ800 . All 3 boreholes in the area intersected the well-developed shear zone. The best intersection was in borehole KDD0118 on RCZ825 (4.0 m at 3.47 g/t Au) , with more anomalous intercepts in KDD0121 on RCZ750 (2.0 m at 2.27 g/t Au and 3.0 m at 1.34 g/t Au) and KDD0116 on RCZ800 (4.0 m at 0.80 g/t Au).

Table 1: Summary of Significant Diamond Drill Hole Results

An accurate dip and strike and controls of mineralisation are unconfirmed and mineralised zones are reported as downhole lengths. Drill holes are planned to intersect mineralised zones perpendicular to interpreted targets. All intercepts reported are downhole distances, true widths are unknown.

Sampling, QA/QC, and Analytical Procedures

Drill core was logged and sampled by Kobo personnel at site. Drill cores were sawn in half, with one half remaining in the core box and the other half secured into new plastic sample bags with sample number tickets. Core samples are drilled using HQ core barrels to below the level of oxidation and then reduced to NQ core barrels for the remainder of the bore hole. Samples are transported to the SGS Côte d’Ivoire facility in Yamoussoukro by Kobo personnel where the entire sample was prepared for analysis (prep code PRP86/PRP94). Sample splits of 50 grams were then analysed for gold using 50g Fire Assay as per SGS Geochem Method FAA505. QA/QC procedures for the drill program include insertion of a certificated standards every 20 samples, a blank every 20 samples and a duplicate sample every 20 samples. All QAQC control samples returned values within acceptable limits.

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 26,200 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 .

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Cautionary Statement on Forward-looking Information:

This news release contains ‘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 and are based on expectations, estimates and projections as at the date of this news release. 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 Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, 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; and the delay or failure to receive board, shareholder or regulatory approvals. 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.

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For further information:
Edward Gosselin
Chief Executive Officer and Director
1-418-609-3587
ir@kobores.com

Twitter: @KoboResources | LinkedIn: Kobo Resources Inc.