Katoro Gold PLC announce that mobilization for the Haneti diamond drill programme has commenced. On the 8th November 2021, the Company announced that it will be conducting a diamond drill programme on its Haneti Nickel project, in which the Company holds 65% ownership interest with 35% held by Power Metal Resources plc (LON: POW). Following the results received from the RAB drill programme that was completed in early 2021, it is expected that mobilization will be completed on or around the 17th January 2022.

Drilling on the 1,000-meter programme to commence on or around the 20th January 2022. HIGHLIGHTS: The planned 1,000m drill programme consists of three deep diamond core targeting magmatic nickel (Ni) copper (Cu) platinum group element (PGE) sulphide mineralisation. The work will constitute the first diamond drilling conducted out by the JV within the Haneti Project area; The planned drillholes are designed to provide a full intersection through the various ultramafic sequences to produce fresh rock samples for detailed geochemical and petrographic analysis; Two diamond core holes are planned at the Mwaka Target for a combined total of approximately 505m.

The holes have current planned depths of 264m and 241m and are designed to test two discrete high-priority conductors which were identified during the 2012 electromagnetic ("EM") geophysics survey; A single 495m deep diamond core drill hole is planned at the Mihanza Target. The Mihanza target was subject to a shallow Rotary Air Blast ("RAB") drill programme that was completed in early 2021; the programme confirmed the presence of near-surface Ni-Cu-PGE sulphide mineralisation. The Mihanza Target is centred around coincident magnetic high geophysical and nickel geochemical anomalies.

Detailed modelling and inversion analysis of the airborne magnetic data completed in 2014 identified a large plug shaped magnetic anomaly (interpreted to represent an ultramafic body) which lies at roughly 300m below surface. This plug shaped body has never been drill tested, and the drill hole planned at Mihanza is specifically designed to intersect the anomaly at depth.