Sanankoro 2026 MRE Update Drilling

Cora Gold Limited

07 September 2026

 

Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining

7 September 2026

Cora Gold Limited ('Cora' or 'the Company')

Sanankoro 2026 MRE Update Drilling:

First assay results show high-grade gold intercepts from Zone B outside existing MRE model

Cora Gold Limited, the West African focused gold company, is pleased to provide an update on recent drilling results being conducted at the Company's Sanankoro Gold Project ('Sanankoro' or the 'Project') in southern Mali. The 2026 drill programme is targeting both extensions to existing deposits and a number of highly prospective near-mine greenfield targets, offering the potential for rapid conversion into future mine plan feed.

The first batch of assay results have been received from drilling at Zone B, which is a major focus of the 2026 mineral resource estimate ('MRE') update drilling programme.  Zone B was prioritised due to the extensive strike length (>2 km, excluding the additional 1.7 km Zone B North trend), broad mineralised widths, limited deeper drilling, and significant potential to improve continuity within the existing resource area as part of a targeted drilling campaign aimed at extending Inferred mineralisation beyond the current model.

2026 Drilling Highlights

●    Best intercepts from initial assays at Zone B (central) include:

o  22m @ 2.24 g/t gold ('Au') from 12m in hole SC0712 

o  34m @ 6.78 g/t Au from 117m in hole SC0716 

▪     Includes 9m @ 23.91 g/t Au from 128m

o  54m @ 1.06 g/t Au from 144m in hole SC0718 

▪     Includes 8m @ 5.68 g/t Au from 153m

o  7m @ 1.05 g/t Au from 37m in hole SC0709

●    Results to date demonstrate broad intervals of mineralisation outside of the 2024 MRE model, including higher-grade zones.

●    The higher-grade zones may present future mining plan optionality to pursue these zones from underground mining.

●    These results provide further confidence in the potential to materially expand the Project's current MRE inventory of 1.044 Moz and life of mine of 10.2 years.

●    The drill programme remains ongoing, with assays pending from Selin, Dakounkoura South, Zone A and Zone C with drilling continuing at TRA07, Kary (Zone B south) and the remaining drill holes at Zone B.

●    All drilling areas and their resources are within short trucking distance of Sanankoro's proposed gold processing plant currently undergoing Front-End Engineering Design ('FEED') work programmes.

●    10,656 metres drilled to date of planned 12,000 metres total, 1,272 metres released today in first set of assays.

Bert Monro, Chief Executive Officer of Cora, commented, "34m @ 6.78 g/t Au is a fantastic drill hole. To encounter this, alongside several other very strong intercepts outside the existing MRE pit shell, in our first holes is extremely encouraging both for the rest of the results and also the future resource growth.

"These results continue to demonstrate the broad nature of the mineralisation that we come to expect from Zone B, and importantly it is the higher-grade core of these mineralised zones in the fresh rock that start to demonstrate the possibility of a much greater extended mine life, beyond the oxide mining and processing.  As often is the case with start-up oxide operations, they morph into much longer life projects with a mixture of open pit and underground operations.  Our current resource expansion drill programme is beginning to unlock further value of the Project, as we keep one eye on the future mine life extensions."

Sanankoro Gold Project Map

Figure 1: Map showing the locations of the deposits, and future mineral resource growth zones at the Sanankoro Gold Project

Drill Programme Overview

In early June, the Company announced plans of its proposed 2026 MRE growth drilling programme, which comprises more than 12,000m of drilling, both diamond drilling but predominantly reverse circulation ('RC') drilling, to be carried out at four of the five existing deposits at Sanankoro.  Zone B is planned to receive the largest allocation of metres due to its significant growth potential resulting from the current MRE model being predominantly constrained by a lack of drill coverage along strike and at depth.

The Company believes that whilst not a primary focus of the drill programme, portions of the drilling will also convert some of the additional mineral resources into the Indicated category, supporting future ore reserve and mine life growth. This drill programme is part of a broader long-term resource growth strategy across the Sanankoro Project Area, incorporating resource extension and green fields drilling, both of which are designed to enhance the current mine life and reserves of 10.2 years and 531 koz respectively.  The exploration and resource definition at Sanankoro is still regarded as being in its infancy with many more drill programmes and greenfield targets to be tested for their resource potential.  The exploration potential of Sanankoro is evidenced by an Independent JORC Compliant Exploration Target Report, announced September 2022, of between 26.0 Mt and 35.2 Mt with a grade range of 0.58-1.21 g/t Au for a potential content of 490 koz Au to 1.37 Moz Au, which was in addition to the MRE at the time of 24.9 Mt at 1.15 g/t Au for 920 koz, announced on 29 July 2022.

Zone B Drilling Results Summary

To date, during the current campaign at Zone B (central pit area), the Company has drilled 10 holes for 1,272m.

Figure 2. Zone B MRE model, coloured by gold grades (g/t) with planned drill holes layout and reserve pit designs for Zone B South and Central.

The reported drill results are from the northern end of the Zone B Central pit area (far right end in Figure 2). Zone B comprises three separate deposits: Zone B South, Zone B Central and Zone B North (not shown on the above graphic); these are all hosted along the same mineralised structural corridor associated with the hanging wall of the Sanankoro Main Shear Zone ('SMSZ'). Collectively, the three deposits extend over approximately 3.7 km of strike length.

Figure 3: Zone B Central deposit drill section looking north, planned hole ZNB_X120 = drilled hole SC0716, which ended in mineralisation.

Drill hole SC0716 intersected a mineralised zone of 34m @ 6.78 g/t Au, with the hole drilled beneath the reported 2025 MRE Reasonable Prospects for Eventual Economic Extraction ('RPEEE') pit shell of US$2,400/oz and outside the MRE mineralised grade shell. The hole also intersected other zones of mineralisation which represents the wider mineralised structure associated with the hanging wall of the SMSZ. Further deeper drilling in the future could be carried out to test for down dip extensions of the higher-grade core of 9m @ 23.91 g/t Au.

Below in Table 1 is the full summary of the drill intervals for the Zone B Central pit area drill results, where reporting criteria is cut-off Au≥0.1 g/t Au, minimum 3m interval & ≥6m waste included (where all drill holes dip is -60 degrees and drill hole azimuth = 270 degrees). 

Hole ID	From	To	Intercept
SC0709	21	55	34m @ 0.34 ppm (includes 7m @ 1.05ppm from 37m)
SC0710	4	7	3m @ 0.24 ppm
SC0712	12	34	22m @ 2.24 ppm
SC0712	46	64	18m @ 0.19 ppm
SC0712	94	106	12m @ 0.31 ppm
SC0712	119	126	7m @ 0.23 ppm
SC0713	142	149	7m @ 0.63 ppm
SC0716	96	104	8m @ 0.61 ppm
SC0716	117	151	34m @ 6.78 ppm
SC0716	166	170	4m @ 0.76 ppm
SC0718	16	21	5m @ 0.13 ppm
SC0718	126	136	10m @ 0.68 ppm
SC0718	144	198	54m @ 1.06 ppm

Table 1. Summary of the drill intervals for the Zone B Central pit area drill results. 

Figure 4: Zone B Central pit area 2026 drill programme map, displaying holes SC0709 - SC0718. Magenta shape is the 2022 MRE grade shell. Holes with no intercepts were SC0711, SC0714 and SC0715.

Competent Person's statement

The technical information in this release that relates to Exploration Results was reviewed and approved by Mr Murray Paterson, in his capacity as a Competent Person, as required under the AIM Rules for Companies. Murray Paterson is the Head of Geology for the Company and is a member of good standing with the Australasian Institute of Mining and Metallurgy ('MAusIMM'). Mr Paterson 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'. Mr Paterson consents to the inclusion in this release of the Exploration Results in the form and context in which it appears.

Market Abuse Regulation ('MAR') Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, until the release of this announcement.

**ENDS**

For further information, please visit http://www.coragold.com or contact:

Bert Monro Craig Banfield	Cora Gold Limited	[e-mail]
Derrick Lee Pearl Kellie	Cavendish Capital Markets Limited (Nomad and Broker)	[phone]
Matt Hasson Andrew Chubb	Hannam & Partners (Broker)	[phone]
Susie Geliher Charlotte Page	St Brides Partners (Financial PR)	[e-mail]

Notes

Cora is a West African gold developer with de-risked project areas within two known gold belts in Mali and Senegal. Led by a team with a proven track-record in making multi-million-ounce gold discoveries that have been developed into operating mines, Cora's primary focus is on developing the Sanankoro Gold Project in the Yanfolila Gold Belt in south Mali into an open pit oxide mine.

Cora has a Probable Reserve of 531 koz at 1.13 g/t Au (US$2,200/oz Au pit shell design). The 2025 Definitive Feasibility Study showed that the Project has strong economic fundamentals, including 98% IRR post tax, US$365 million NPV8 post tax and all-in sustaining costs of US$1,623/oz based on a gold price of US$3,500/oz.

In April 2026, the Company secured a binding US$120 million gold stream which, together with existing equity, fully funds the development of Sanankoro through to production. The agreement also provides flexibility and was amended in August 2026 to allow up to 50% of the stream to be replaced with traditional senior debt by the later of (i) 30 October 2027; and (ii) 6 months after the date on which the mining rights permit is granted by the government of Mali, enabling optimisation of the financing structure. With funding in place, the Company is advancing the finalisation of the permitting process with the Government of Mali to enable a swift transition into mine construction.

The Company continues to pursue additional value-enhancing opportunities across its broader portfolio, including the identification of large-scale gold mineralisation potential at the Madina Foulbé exploration permit, located within the Mako Gold Belt of the Kédougou-Kéniéba Inlier in eastern Senegal.

 

END