KORE Mining Receives Favorable Ruling For The Long Valley Drill Program

VANCOUVER – KORE Mining Ltd. reported that the United States District Court for the Eastern District of California has denied a motion by NGO’s to overturn authorization granted by the United States Forest Service (USFS) of KORE’s proposed drill program at the Long Valley Gold Project, located in California.

KORE had voluntarily limited any work at the Long Valley project pending the outcome of the court case between the NGOs and the USFS. Now that the USFSs motion for summary judgement has been granted and the authorization upheld, KORE intends to proceed with exploration during the summer/fall of 2023. Details of KORE’s Long Valley 2023 exploration drill program will be announced soon.

KORE’s team has worked closely with the USFS to avoid cultural impacts and mitigate other potential Program impacts. The Program utilizes modern technology and existing road infrastructure to minimize disturbances. KORE will complete pre-disturbance cultural surveys, remove 100% of all drill cuttings, have zero water or waste discharge and intensively remediate all sites post-work. There will be no long-term impact from the Program and no permanent installations will be left behind. The USFS thus granted KORE a categorical exclusion from the National Environmental Protection Act for the Program’s plan of operations.

The Company has identified opportunities to expand the shallow oxide mineralization in all directions. Additional mineralization could extend mine life, reduce capital intensity and generate higher project economic returns than the 1.2 million ounces of Indicated gold and 0.5 million ounces of Inferred gold from 64 million tonnes of 0.58 grams per tonne and 22 million tonnes of 0.65 grams per tonne, respectively, modeled in the preliminary economic assessment (“PEA”) announced October 27, 2020.

Additionally, as a fully intact epithermal deposit with a large at surface footprint, Long Valley has the potential for high-grade sulphides and discrete vein zones in the underlying feeder structures. The discovery of high-grade, sulphide dominant gold (“Au”)-silver (“Ag”) mineralization in addition to near-surface oxide Au-Ag mineralization would open up additional development pathways for the Project, such as underground mining.