Kiniero Grade Control Drilling Continues To Return High-Grade Gold Results

QUEBEC CITY, July 10, 2025 (GLOBE NEWSWIRE) -- West African gold producer and developer Robex Resources Inc (“Robex” or the “Company”) (ASX: RXR | TSX-V: RBX | OTC: RSRBF | Börse Frankfurt: RB4) is pleased to report results from the Mansounia grade control drilling for its Kiniero Gold Project in Guinea, West Africa. Robex is on track to deliver first gold at Kiniero in Q4 2025.

Highlights

• Robex has received initial results from the ongoing pre-production grade control drilling program at Mansounia.
• The program is designed to infill resource estimation drilling, enhancing geological confidence ahead of the planned first gold pour in Q4 2025.
• Drilling has targeted areas within the proposed open pit design, focusing on zones identified for early-stage mining.
• The majority of assays received to date are from the southwest portion of the Mansounia ore body, demonstrating strong mineral continuity.
• Significant intercepts from the drilling results include:
   

• Drilling at Mansounia is ongoing with 61,700 metres complete; further assays will be reported as they are received.
• On 9th July 2025, the Company secured an amendment to its US$130 million Facility Agreement with Sprott, releasing US$25 million from the Cash Sweep Account to fund construction of the Kiniero project. This is a positive development for the Company’s Guinean operations.

Robex’s Managing Director and CEO Matt Wilcox commented: “We are pleased to report strong gold grades from this round of grade control drilling which adds further confidence to the mining proposition at Mansounia. The mineralised zones and grades defined by our grade control programs are confirming our expectations of the Mansounia deposit.”

Mansounia Pre-Production Grade Control Drilling Program

Robex is undertaking a pre-production grade control drilling program at Mansounia to infill resource estimation drilling ahead of mining in Q4 2025. A total of 1605 inclined grade control drill holes for 66,000m have been designed to test and better delineate grade below the lateritic cap rock.

The drilling was designed to cover the initial three months of mining the Mansounia pit design area to depths of 30m to 50m. Figure 1 illustrates the overall site layout of the Kiniero Project, and Figure 2 illustrates the distribution of RC drillhole collars from the grade control program over the Mansounia Deposit (Phase 1), including both those with received assay results and those still pending. The assay results received to date are from the first 50% of the holes designed. The remainder of these holes will be completed and reported over the course of the rest of the year.

Figure 1. Kiniero Site Layout

Figure 2. Grade Control RC Drillhole Collars over the Mansounia Deposit for Initial 3 Months of Mining

The assay results received to date are largely consistent with expectations based on the Mansounia resource block model. Preliminary visual analyses of the plotted assay data on cross-sections indicate that the mineralised zones encountered in the GC drilling correspond closely in both grade and spatial distribution with the resource block model. To demonstrate this strong correlation, several representative sections are provided from Figure 3 to Figure 7.

Figure 3. Cross-Section AB - Mansounia GC Drilling Assay vs Mansounia resource block model

Figure 4. Cross-Section CD - Mansounia GC Drilling Assay vs Mansounia resource block model

Figure 5. Cross-Section EF - Mansounia GC Drilling Assay vs Mansounia resource block model

Figure 6. Cross-Section GH - Mansounia GC Drilling Assay vs Mansounia resource block model

Figure 7. Cross- Section IJ - Mansounia GC Drilling Assay vs Mansounia resource block model

As shown in Table 1, significant intercepts (Au > 0.3 ppm) from the grade control drilling campaign at the Mansounia Deposit further support these results, with associated drillhole details including collar coordinates, depth, and orientation.

Kiniéro Project Sprott Facility Agreement Update - US$25 million Cash Sweep Released

On 2 March 2025, Sycamore Mine Guinée-Sau as borrower (the Borrower), the Company, Sycamore Capital CY Ltd and Sycamore Mining Ltd (the Guarantors, together with the Borrower, the Obligors) entered into a syndicated facility agreement with, amongst others, Sprott Resource Lending (US Manager) Corp. as agent and lead arranger (Agent), and CSC Nominees Australia Pty Ltd as security trustee. This syndicated facility agreement was subsequently amended and restated on 13 March 2025 and on 29 May 2025 (the Facility Agreement).

The Facility Agreement establishes a credit facility of up to US$130 million available to the Borrower in connection with the construction and development of the Kiniéro Project. Utilisation by the Company of the facility after the initial drawdown is conditional on certain conditions precedent (Utilisation CPs). One of the Utilisation CPs is that the Borrower obtains the Mansounia Exploitation Permits.

Under the Facility Agreement, the Agent has the right to withdraw all or some of the proceeds deposited by the Company in a cash sweep account (the Cash Sweep Account) of US$25 million (the Cash Sweep Amount) if the Mansounia Exploitation Permits are not granted to the Company by 15 June 2025 (the Satisfaction Date). The Cash Sweep Account was funded from proceeds from the Robex ASX Initial Public Offering. The Mansounia Exploitation Permits have not been formally granted, and the Company is currently waiting for these Permits to be approved by the Guinean President. The Company’s application was confirmed as complete and compliant by the Guinean Minister of Mines on 7 March 2025, and the Company understands that the Mansounia Exploitation Permits will be issued in the near future. The Agent did not exercise its rights to the Cash Sweep Amount on the Satisfaction Date.

On 9th July 2025, the parties to the Facility Agreement agreed to amend the Facility Agreement to remove the Agent’s rights to exercise the cash sweep and to release the Cash Sweep Amount to the Company to fund construction expenditure for the Kiniéro Project.

The release of the Cash Sweep Amount to the Company is a positive development for its Guinean operations.

Competent Person's Statement

Information in this Announcement that relates to exploration results is based on, and fairly represents, information and supporting documentation prepared by Mr. Amir Adeli, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy. Mr Adeli has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Adeli is an employee of Robex Resources Management Limited and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears.

Mineral Resources, Ore Reserves and Production Targets

The Company’s estimate of Ore Reserves and the production target for the Kiniero Project (including the Mansounia Deposit) and the Company’s estimate of Mineral Resources for the Group are set out in the Company’s Replacement Prospectus dated 6 May 2025 and lodged with ASX on 3 June 2026 (the “Replacement Prospectus”). The Company confirms it is not aware of any new information or data that materially affects that information as set out in that announcement and that all material assumptions and technical parameters underpinning the estimates of Mineral Resources for the Group and Ore Reserves for the Kiniero Project and all the material assumptions underpinning the production target and forecast financial information derived from it continue to apply and have not materially changed.

Past Exploration results and Mineral Resource Estimates reported in this announcement were previously prepared and disclosed by Robex in accordance with JORC Code. The Company confirms that it is not aware of any new information or data that materially affects the information included in these market announcements. The Company confirms that the form and content in which the Competent Person's findings are presented here have not been materially modified from the original market announcement, and all material assumptions and technical parameters underpinning Mineral Resource Estimates in the relevant market announcement continue to apply and have not materially changed. Refer to www.robexgold.com for details on past exploration results and Mineral Resource Estimates.

Appendix 1: GC Drilling Results

Table 1. Significant Intercepts (>0.3 ppm Au) from the GC Drilling Campaign – Mansounia Deposit