Robex Resources Inc. announced the results of the feasibility study (the ?FS?, ?Feasibility Study? or the ?Study?) for the Kiniero Gold Project (the ?Kiniero Gold Project?, or the ?Project?) in Conakry, Guinea. The FS was prepared in accordance with Canadian Securities Administrators?

National Instrument 43-101 - Standards of Disclosure for Mineral Projects (?NI 43-101?). Improved economics: 26% increase in pre-tax Net Present Value 5% (?NPV5%?) to USD 251 million and Internal Return Rate (?IRR?) of 42% at a base case gold price of USD 1,650/oz while post-tax NPV5% stands at USD 170m and IRR at 31%; Increased Life of Mine (?LoM?): Mineral Reserves increased by 165koz or 21% to 968koz from the Pre-Feasibility Study (?PFS?), increasing LoM to 9.5-years (46% up compared to PFS); Lower costs:LoM All-In Sustaining Costs (?AISC?) below initial target of USD 1,000/oz, at USD 980/oz, improving from PFS (USD 1,035/oz); Lower strip ratio: LoM Strip Ratio of 2.8:1, from 4.4:1 in the PFS; and Significant potential beyond Mineral Reserve life in FS: Indicated Mineral Resources (inclusive of Mineral Reserves) at 1,481koz @ 1.07g/t, along with Inferred Mineral Resources of 1,090koz@ 1.19g/t effective November 12, 2022; Construction of the project started in Fourth Quarter 2022, with USD 27 million expected to be spent by June 30, 2023 of the initial capital costs of USD 160 million (or 17% of total): Contractors mobilized on site and detailed engineering is ongoing; In line with the previously disclosed mandate with Taurus Mining Finance Fund No. 2, L.P. (?Taurus?), company are currently discussing the terms of the Project Finance Facility and providing information needed for due diligence.

Please see the press releases dated January 24, 2023 and March 21, 2023 available on SEDAR at for further details; Resource expansion program ongoing, the last drill hole in the geological database supporting the FS dates from August, 17, 2022 with 24,443m of drilling completed since then; and Exploration is underway at the Mankan target in the north portion of the property for the first time since the project was owned by SEMAFO. The ore mined from the Kiniero deposit is expected to be processed through a standard 3.0mt capacity Carbon-in Leach/Gravity (?CIL?) plant. The mine is expected to be an open pit using conventional mining methods.

The Project is located in eastern Guinea in the Kouroussa Prefecture. It is situated approximately 27km southeast of the town of Kouroussa and at a distance of 546km from Conakry, the capital of Guinea. The Kiniero Gold Project is a 470.48km² exploitation and exploration land package that consists of the adjoining Kiniero exploitation License Area and Mansounia exploitation License Area.

The Kiniero Project is one of the largest gold licences in Guinea. Kiniero gold deposits, located in the prolific gold-producing Siguiri Basin, were discovered in the early 1900s and were subsequently explored until 2002 when gold production began under the ownership of Semafo Inc. and its subsidiary Semafo Guinée SA. The historical Kiniero gold mine comprised an open pit mining operation that produced 418,000 ounces of gold during its 12-year operational history.

The mine was placed on care and maintenance in early 2014. Robex is now restarting the Kiniero gold mine as a long-life open pit mining operation based on constructing a new 3Mtpa process plant. Given the strong exploration potential, a combination of near plant brownfields infill and known extension, as well as greenfield large-scale targets, Robex is targeting (i) the discovery of Mineral Resources across the Kiniero exploration permit area over the next few years, and (ii) the conversion of Mineral Resources into Mineral Reserves.

An extensive drilling programme is ongoing on the numerous identified deposits to increase the resource base and extend the LoM at Kiniero predominately through extending the drilling density at depth and along known strike extensions. Since the beginning of the construction, Robex has been committed to involve village communities in the mine's development, as well as exploring sustainable power energy source to reduce and limit its environmental footprint. The property is located within the Kiniero Gold District of the Siguiri Basin, which is situated in north-eastern Guinea, extending into central Mali.

Geologically, the Siguiri Basin comprises a portion of the West Africa Birimian Greenstone Belt, including intrusive volcanics (ultramafics to intermediate) and sediments largely deposited through the period 2.13 Ga to 2.07 Ga. The volcanic and sedimentary lithologies comprise fine-grained sedimentary rocks (shales and siltstones), with some intercalated volcanic rocks. Sandstone-greywacke tectonic corridors have been preferentially altered and locally silicified, supporting extensive brittle fracture networks.

These in turn have provided host environments for ascending mineralized hydrothermal fluids. The deposits located on the property are associated with the Proterozoic Birimian orogeny of West Africa. Most gold mineralization in the West African Craton is shear-zone-hosted and structurally controlled, with lithology having a minor, local influence.

The mineralization developed in the Kiniero Gold District conforms to this general style of mineralization. A total of 47 gold anomalies have been identified on the property, of which five clusters of deposits (Sabali, Mansounia, SGA, Jean, and Balan) have been explored sufficiently to enable the estimation of Mineral Resources.