Toronto, Ontario--(Newsfile Corp. - September 24, 2026) - KO Gold Inc. (CSE: KOG) ("KO Gold" or the "Company") is pleased to report assay results from its 2026 reverse circulation ("RC") and diamond drilling ("DD") programs at its 100%-owned Smylers Gold Exploration Permit ("Smylers EP") in the Otago Gold District, South Island, New Zealand (Figure 1). A total of 23 RC drill holes and 2 diamond drill holes totalling 2,070.7 metres were completed between May and August 2026. 2 RC holes and 1 diamond drill hole were abandoned due to excessive groundwater and poor ground conditions.
These results confirm and outline the presence of broad, structurally controlled gold mineralization along the southeast extension of the Hyde-Macraes Shear Zone ("HMSZ") corridor, consistent with the style and grade of gold mineralization that characterizes the Otago Gold District and gold deposits presently being mined at OceanaGold's Macraes gold mine.
Highlights
Diamond drill hole SD0046 returned 0.82 g/t Au over 8.0 metres, including 4.09 g/t Au over 0.6 metres.
Diamond drill hole SD0047 returned 0.75 g/t Au over 5.9 metres, including 2.60 g/t Au over 1.3 metres.
RC drilling intersected zones of continuous gold mineralization along the HMSZ corridor, including 1.07 g/t Au over 2.0 metres (SMRC0071), 1.05 g/t Au over 4.0 metres (SMRC0084), 1.64 g/t Au over 2.0 metres (SMRC0083, including 2.60 g/t Au over 1.0 metre), 2.34 g/t Au over 1.0 metre (SMRC0084), and 1.28 g/t Au over 2.0 metres (SMRC0086).
All samples were analysed by SGS at Macraes Flat, New Zealand, using the Chrysos PhotonAssay method, a non-destructive technique in which the entire jarred sample charge is analysed for gold. Composite assay results are shown in Table 1 below.
Drilling at the Smylers EP is complete, and drilling has now commenced on private land at the Company's 100%-owned Carrick Exploration Permit, marking the first modern drill testing of the historic Carrick Goldfield.
Greg Isenor, President and CEO of KO Gold, commented, "Our latest drilling program at the Smylers Main corridor has done what we set out to do. We have re-confirmed that HMSZ-style gold mineralization is present with good grades and is continuous over wide widths at Smylers and southeast of Macraes Mine. The two diamond holes have given us clean, well-recovered core through the mineralized structure with grades that support our geological model. Otago is a district where continuity and scale, not headline grades, ultimately drive value, and these results indicate gold shoots are developing and give us the structural framework we need to plan the next phase of extensive drilling with far greater confidence to build resources."
Figure 1: Regional map of KO Gold's exploration permits in the Otago Gold District
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2026 Smylers Drilling Program
The 2026 drilling program at the Smylers EP was designed to test two targets. At Smylers East, RC drilling tested geochemical anomalies interpreted to outline the extension of the HMSZ in that area. At Smylers Main, RC and diamond drilling tested the continuity and down-dip extension of gold mineralization intersected by the Company's 2021 drilling along the principal HMSZ corridor.
Drilling at Smylers Main was successful, with mineralization intersected in all but three holes which were abandoned due to excessive groundwater and faulted ground. The two diamond holes returned the strongest results of the program (Table 1 and Table 2). Smylers East drilling confirmed gold mineralization in a concordant structure above the main HMSZ. One hole in the eastern zone drilled basalt to the target depth.
Drilling was carried out by Eco Drilling, an experienced New Zealand-based contractor, using a UDR 650 multi-purpose rig operating under a fully implemented health, safety and environmental management system. RC holes were drilled with a 100 mm face-sampling hammer and sampled at 1 metre intervals through a rig-mounted rotary splitter. Diamond drill holes were drilled HQ triple-tube to maximize core recovery through the mineralized structure. A total of 25 holes were completed at Smylers EP with a collar table shown in Table 2.
Table 1: RC and Diamond Drilling Assay Composite Results for Smylers EP
| Hole ID | From (m) | To (m) | Interval (m) | Grade Au (g/t) | Hole Type |
| SMRC0065 to SMRC0070 - No Significant Results | RC | ||||
| SMRC0071 | 20.0 | 22.0 | 2.0 | 1.07 | RC |
| Including | 21.0 | 22.0 | 1.0 | 1.62 | RC |
| SMRC0072 | 28.0 | 29.0 | 1.0 | 0.70 | RC |
| SMRC0073 to SMRC0075 - No Significant Results | RC | ||||
| SMRC0076 | 26.0 | 29.0 | 3.0 | 0.54 | RC |
| Including | 26.0 | 28.0 | 2.0 | 0.72 | RC |
| And | 37.0 | 38.0 | 1.0 | 0.55 | RC |
| SMRC0077 | 23.0 | 26.0 | 3.0 | 0.83 | RC |
| Including | 24.0 | 25.0 | 1.0 | 1.92 | RC |
| And | 38.0 | 41.0 | 3.0 | 0.63 | RC |
| Including | 39.0 | 40.0 | 1.0 | 0.96 | RC |
| SMRC0078 - No Significant Results | RC | ||||
| SMRC0079 | 45.0 | 48.0 | 3.0 | 0.59 | RC |
| Including | 47.0 | 48.0 | 1.0 | 1.48 | RC |
| SMRC0080 | 90.0 | 91.0 | 1.0 | 0.84 | RC |
| And | 95.0 | 96.0 | 1.0 | 0.52 | RC |
| SMRC0081 | 99.0 | 100.0 | 1.0 | 0.79 | RC |
| SMRC0082 | 62.0 | 63.0 | 1.0 | 0.83 | RC |
| And | 70.0 | 71.0 | 1.0 | 0.91 | RC |
| SMRC0083 | 55.0 | 57.0 | 2.0 | 1.64 | RC |
| Including | 56.0 | 57.0 | 1.0 | 2.60 | RC |
| SMRC0084 | 40.0 | 44.0 | 4.0 | 1.05 | RC |
| Including | 41.0 | 42.0 | 1.0 | 2.34 | RC |
| SMRC0085 | 71.0 | 74.0 | 3.0 | 0.66 | RC |
| And | 79.0 | 80.0 | 1.0 | 1.01 | RC |
| SMRC0086 | 67.0 | 69.0 | 2.0 | 1.28 | RC |
| SD0046 | 104.0 | 111.9 | 8.0 | 0.82 | DDH |
| Including | 105.1 | 105.7 | 0.6 | 4.09 | DDH |
| And | 109.7 | 111.9 | 2.2 | 1.47 | DDH |
| Including | 118.7 | 119.0 | 0.3 | 1.17 | DDH |
| SD0047 | 134.9 | 140.7 | 5.9 | 0.75 | DDH |
| Including | 137.1 | 138.4 | 1.3 | 2.60 | DDH |
| Notes: Reported intervals are downhole lengths. True widths are not known at this time. Grades are uncut. | |||||
Table 2: 2026 Smylers Drill Collar Locations
| Hole ID | Type | Easting (m) | Northing (m) | Azimuth (deg) | Dip (deg) | Hole Depth (m) |
| SMRC0065 | RC | 1413875 | 4962421 | 0 | -90 | 78.0 |
| SMRC0066 | RC | 1413913 | 4962323 | 0 | -90 | 71.0 |
| SMRC0067 | RC | 1415375 | 4962220 | 0 | -90 | 91.0 |
| SMRC0068 | RC | 1415466 | 4962285 | 0 | -90 | 108.0 |
| SMRC0069 | RC | 1415126 | 4962226 | 0 | -90 | 80.0 |
| SMRC0070 | RC | 1414639 | 4962388 | 0 | -90 | 31.0 |
| SMRC0071 | RC | 1414632 | 4962385 | 305 | -50 | 64.0 |
| SMRC0072 | RC | 1414666 | 4962370 | 75 | -54 | 70.0 |
| SMRC0073 | RC | 1414534 | 4962353 | 0 | -90 | 66.0 |
| SMRC0074 | RC | 1414532 | 4962462 | 180 | -70 | 60.0 |
| SMRC0075 | RC | 1412915 | 4963205 | 0 | -90 | 55.0 |
| SMRC0076 | RC | 1412907 | 4962555 | 0 | -90 | 53.0 |
| SMRC0077 | RC | 1412949 | 4962451 | 0 | -90 | 55.0 |
| SMRC0078 | RC | 1413076 | 4962426 | 0 | -90 | 37.0 |
| SMRC0079 | RC | 1412953 | 4962598 | 0 | -90 | 80.0 |
| SMRC0080 | RC | 1412999 | 4963049 | 0 | -90 | 109.0 |
| SMRC0081 | RC | 1413050 | 4962949 | 270 | -65 | 126.0 |
| SMRC0082 | RC | 1412989 | 4962840 | 0 | -90 | 100.0 |
| SMRC0083 | RC | 1413012 | 4962715 | 0 | -90 | 86.4 |
| SMRC0084 | RC | 1413069 | 4962426 | 0 | -90 | 55.0 |
| SMRC0085 | RC | 1413052 | 4962556 | 0 | -90 | 119.0 |
| SMRC0086 | RC | 1413069 | 4962426 | 0 | -90 | 79.0 |
| SD0046 | DDH | 1413983 | 4962318 | 270 | -80 | 129.6 |
| SD0047 | DDH | 1414082 | 4962391 | 240 | -65 | 156.5 |
| SD0048 | DDH | 1414050 | 4962557 | 240 | -65 | 111.2 |
| TOTAL = | 2,070.7 m | |||||
| Note: Geographic coordinates are in New Zealand Transverse Mercator 2000 (NZTM2000) | ||||||
Figure 2: Plan of 2026 Smylers drill collars over the HMSZ corridor showing significant intercepts
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Figure 3: Representative cross-section through Smylers Main showing SD0046 and SD0047
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Sampling, QA/QC and Laboratory Analysis
RC samples were collected at 1-metre intervals through a rig-mounted rotary cone splitter, producing a nominal 1.8 kg primary sample. Samples were taken when dry; however, excessive water in the area limited the depth of some holes. Two RC holes were abandoned due to excessive water impacting the sample recovery. Recovery ranged from 85% to 100% with lower recoveries at surface in tertiary gravels or at depth when water was difficult to hold back. Diamond drill core was oriented where ground conditions permitted, logged, photographed and cut in half by diamond saw at the Company's core facility, with one half submitted for analysis and the remainder retained for reference.
All drilling, logging and sampling were carried out under the supervision of Nick Whetter, KO Gold's Country Manager and Senior Geologist. Samples were sealed in security-tagged bags at the drill site and transported under the Company's chain-of-custody procedures directly to the laboratory.
All samples were submitted to SGS Macraes Mineral Services at Macraes Flat, New Zealand, a commercial laboratory operated by SGS and independent of KO Gold. SGS maintains IANZ (International Accreditation New Zealand) accreditation under the ISO/IEC 17025 standard for its testing facilities, which includes the deployment and operation of the Chrysos PhotonAssay technology. The facility is located on the OceanaGold Macraes mine site. Samples were dried, crushed to 2.0 mm and split to fill PhotonAssay jars, with dry screening checks (laboratory method code G_SCR_D) run routinely to monitor sample preparation performance. Gold was determined by the Chrysos PhotonAssay method (SGS method code PAAU02), a non-destructive photon activation technique with a lower detection limit of 0.03 g/t Au. Charge masses for this program averaged approximately 370 grams. Because PhotonAssay measures gold across the entire jarred charge rather than a small sub-sampled aliquot, it reduces the sub-sampling error associated with heterogeneously distributed gold relative to a conventional 30-to-50-gram fire assay.
The Company's quality assurance and quality control (QAQC) program comprised the insertion of certified reference materials, blank material, and field duplicates, each at a rate of one in every 25 samples, giving a combined quality control insertion rate of approximately 12 percent. Eight certified reference materials with PhotonAssay-certified values spanning a range of approximately 0.1 to 11.7 g/t Au were used, together with barren basalt blank material. Consistent with common practice for PhotonAssay, the certified reference materials and blanks were pre-jarred and retained at the laboratory for insertion into the sample stream at intervals specified by the Company and are accordingly not blind to the laboratory. Field duplicates, taken as splitter duplicates for RC samples and as quarter-core duplicates for diamond drill core, are submitted blind. SGS additionally inserts its own internal monitoring standards, blanks and duplicates. All quality control results were reviewed by the Qualified Person and were within acceptable limits.
No inter-laboratory check assays or comparative fire assay analyses on samples from this drilling program have been completed as at the date of this news release.
Carrick Exploration Permit Update - Drilling Commenced
Diamond drilling has commenced at the Company's 100%-owned Carrick Exploration Permit ("Carrick EP"), which covers the historic Carrick Goldfield in the Cromwell district of Central Otago. The current phase of drilling is being undertaken on private land within the permit, where all drilling access agreements with the relevant landowners have been completed. The program comprises 5 planned diamond core holes totalling approximately 800 metres.
The objective of the program is to twin and validate key historical intersections within the Carrick Goldfield and to begin defining the geometry and continuity of the mineralized shoots. Despite its history of past production, the Carrick Goldfield has not been systematically tested using modern exploration and drilling techniques or at depth. Assay results from the Carrick EP will be reported when received.
Cautionary Statements and Data Verification
This news release contains scientific and technical information with respect to properties adjacent to the Company's properties in the Otago Gold District, in which the Company has no interest and no right to explore. Readers are cautioned that information regarding the geology, mineralization and mineral resources on adjacent properties is not necessarily indicative of the mineralization on the Company's properties.
The Company has not established any mineral resource or mineral reserve on the Smylers EP or on any of its other permits. The drill results disclosed in this news release are exploration results only. Exploration results are not necessarily indicative of the presence of a mineral deposit, and there is no assurance that any mineral resource, mineral reserve or economically viable mineralization will be delineated on the Company's permits.
Certain scientific and technical information in this news release relating to the Company's 2021 drilling at the Smylers EP and to historical exploration and production within the Carrick Goldfield predates the Company's current programs. The Qualified Person has reviewed the available data but has not independently verified all historical results, and readers are cautioned that historical results are not necessarily indicative of mineralization on the Company's permits.
Qualified Person Statement and Data Verification
All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, M.Sc., P.Geo., Vice President of Exploration and a director of KO Gold Inc., who is a Qualified Person (QP) as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
The QP has verified the analytical data underlying the drilling results disclosed in this news release by reviewing the Company's sampling and quality control protocols, drill logs and sampling records, the original laboratory analysis reports issued by SGS Macraes Mineral Services, and the Company's assay database, and by confirming that the composited intervals reported herein reconcile to the underlying assay certificates. The QP has reviewed the certified reference material, blank and field duplicate results reported with each sample batch, together with the jar fill factors and sample status flags recorded on the laboratory certificates, and is of the opinion that the analytical results are of sufficient quality to support the disclosure of exploration results. The Qualified Person is not aware of any sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data disclosed in this news release.
About KO Gold Inc.
KO Gold is a Canadian junior exploration company listed on the CSE under "KOG". The Company's strategy is to acquire and explore highly prospective gold properties within the Otago Gold District in New Zealand. KO Gold presently has four 100%-owned exploration permits within the Otago Gold District for a combined land package of 400 km2 (including the Carrick Range exploration permit application). The Company's Smylers Gold, Hyde and Glenpark EPs are located adjacent to OceanaGold's Macraes Gold Mine, and the Carrick EP includes the historic Carrick Goldfield near Santana Minerals' Bendigo-Ophir Gold Project. The Company also has an NSR on three additional permits, Garibaldi, Raggedy Range and Rough Ridge South, totalling 340 km2.
Further information on KO Gold and its projects can be viewed on its website at https://kogoldnz.com/investors, including a corporate presentation.
For further information, please contact:
Greg Isenor, President and CEO, Director
Tel: (902) 832-5555 | Email: info@kogoldnz.com | Website: www.kogoldnz.com
KO Gold Inc., Suite 802 - Sun Tower, 1550 Bedford Highway, Bedford, Nova Scotia B4A 1E6 Canada
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This news release contains certain "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan," "expect," "intend," "anticipate," "believe," "estimate," "may," "will," "would," "potential," "propose," "target," "scheduled," or variations of such words and phrases, or statements that certain actions, events or results "may," "will" or "could" occur. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements.
Forward-looking statements in this news release include, but are not limited to, statements relating to: the implications of the reported drilling results for the continuity, geometry and extent of gold mineralization at the Smylers EP; planning and objectives of further drilling at the Smylers EP; the planned scope and objectives of the Carrick EP drilling program, comprising five diamond drill holes totalling approximately 800 metres, including the validation of historical intersections and the assessment of the geometry and continuity of mineralized shoots; the further receipt and reporting of assay results from the Carrick EP; and the potential to discover and delineate mineral resources on the Company's permits.
Forward-looking statements are based on a number of opinions, estimates and assumptions that management considers reasonable as of the date of this news release, including, without limitation: the accuracy of the geological, geochemical and geophysical interpretations and historical exploration information underlying the Company's planned programs; the continued availability of drilling equipment, qualified personnel, contractors, geophysical service providers and laboratory services on acceptable terms and within anticipated timeframes; suitable ground and weather conditions for planned drilling; continued access to the areas required for planned exploration; the continuation of favourable operating, regulatory and conditions in New Zealand; the Company's ability to maintain its permits and obtain any additional approvals required for planned activities; and the Company's ability to fund and execute its planned programs.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including, without limitation: exploration and development risks; the risk that drill results, assay results or interpretations do not meet expectations or are not indicative of a mineral deposit; delays in completing access arrangements with landowners or obtaining regulatory consents; changes in commodity prices for gold and other minerals; the availability of financing on acceptable terms; delays in obtaining required governmental or regulatory approvals; changes to applicable laws, regulations or permit conditions in New Zealand or Canada; environmental, operational and weather-related risks; and the other risk factors described from time to time in the Company's public disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca.
Although the Company believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that they will prove to be correct. Forward-looking statements are made as of the date of this news release, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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