Robex Announces Top End of Production Guidance

QUEBEC CITY, Jan. 22, 2024 (GLOBE NEWSWIRE) — Robex Resources Inc. (TSXV: RBX) (“Robex” or the “Company”) is pleased to announce production of 51,827 ounces (“oz”) achieving top end guidance of 48,000oz-52,000oz.

Company’s highlights in Q4 2023

• Gold production of 14,307oz of gold in Q4 2023, a 28% increase compared to 11,253oz in Q4 2022
• Processed 543,242 tonnes of ore at a head grade of 0.94 grams per tonne (“g/t”) of gold, a 5% increase of ore processed compared with Q4 2022
• Gold recovery of 87.5%, a 1.9% decrease compared with Q4 2022

Company’s highlights in 2023

• Gold production of 51,826oz, a 11% increase in production compared with 2022 and achieving top end guidance of 48,000oz-52,000oz
• Processed 2,224,890 tonnes of ore at a head grade of 0.81g/t of gold, a 10% increase of ore processed compared with 2022
• Gold recovery of 89.5%, a 1.0% increase compared with 2022
• Gold sales of 51,184oz, a 7% increase compared with 2022
• 4.0 million hours of work without lost time injury across all the Group

Daniel Marini, COO commented: “We are very pleased with our performance, especially our fourth quarter which saw the strongest performance this year. I would like to thank our team for achieving production targets while maintaining a high safety standard and results, with very encouraging results also in ESG. We have now integrated Mali and Guinea under one set of KPIs and we are looking forward to 2024. In conclusion, for Robex today’s records are tomorrow’s averages”.       

About Robex Resources Inc.

Robex is a multi-jurisdictional West African gold production and development company with near-term exploration potential. The Company is dedicated to safe, diverse and responsible operations in the countries in which it operates with a goal to foster sustainable growth. The Company has been operating the Nampala mine in Mali since 2017 and is advancing the Kiniero Gold Project in Guinea.

Robex is supported by two strategic shareholders and has the ambition to become a-tier gold producers in West Africa.

More Information

Forward Looking Statement

Certain information set forth in this news release contains “forward‐looking statements” and “forward‐looking information” within the meaning of applicable Canadian securities legislation (referred to herein as forward‐looking statements). Except for statements of historical fact, certain information contained herein constitutes forward‐looking statements which includes, but is not limited to, statements with respect to: the potential development and exploitation of the Mansounia Central Deposit or the Kiniero Project and the Company’s existing mineral properties and business plan, including the completion of feasibility studies or the making of production decisions in respect thereof; the future financial or operating performance of the Company, the Mansounia Central Deposit and the Kiniero Project; results from work performed to date; the realization of mineral resource and mineral reserve estimates; the development, operational and economic results of any prefeasibility study that may be undertaken or not for the the Mansounia Central Deposit, including cash flows, revenue potential, potential for staged development, capital expenditures, development costs and timing thereof, extraction rates, life of mine projections and cost estimates; magnitude or quality of mineral deposits; anticipated advancement of the Kiniero Project including mine plan; exploration expenditures, costs and timing of the development of new deposits; exploration potential and opportunities at the Mansounia Central Deposit; costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; anticipated advancement of the Mansounia Central Deposit , the Kiniero Project and future exploration prospects; requirements for additional capital; the future price of metals; government regulation of mining operations; environmental risks; the timing and possible outcome of pending regulatory matters; the realization of the expected economics of the Mansounia Central Deposit and the Kiniero Project; and future growth potential of the Mansounia Central Deposit. Forward-looking statements are often identified by the use of words such as “may”, “will”, “could”, “would”, “anticipate”, ‘believe”, expect”, “intend”, “potential”, “estimate”, “budget”, “scheduled”, “plans”, “planned”, “forecasts”, “goals” and similar expressions. Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such information is provided. Assumptions and factors include: the Company’s ability to complete its planned exploration programs; the absence of adverse conditions at the Kiniero Project or the Mansounia Central Deposit; no unforeseen operational delays; no material delays in obtaining necessary permits; the price of gold remaining at levels that render the Mansounia Central Deposit and the Kiniero Project economic; the Company’s ability to continue raising necessary capital to finance operations and reimburse short-term liabilities; and the ability to realize on the mineral resource and mineral reserve estimates. Forward‐looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward‐looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; geopolitical risk, political risks inherent to mining in developing countries, conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; the impact of COVID-19 on the timing of exploration and development work and management’s ability to anticipate and manage the foregoing factors and risks. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in the Company’s disclosure documents for a more complete discussion of such risk factors and their potential effects, which may be accessed through the Company’s profile on SEDAR at www.sedar.com.

There can be no assurance that forward‐looking statements will prove to be accurate, or even benefit Robex, if any, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward‐looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The forward-looking statements contained herein are presented for the purposes of assisting investors in understanding the Company’s plan, objectives and goals and may not be appropriate for other purposes. Forward-looking statements are not guarantees of future performance and the reader is cautioned not to place undue reliance on forward‐looking statements.

Please refer to the “Risk Factors” section of the Company’s annual information form for the year ended December 31, 2022, dated April 28, 2023, and to the “Risks and Uncertainties” section of each of the Company’s management’s discussion and analysis dated April 28, 2023 for the years ended December 31, 2022 and December 31, 2021, and the Company’s management’s discussion and analysis dated August 28, 2023 for the six-month periods ended June 30, 2023 and June 30, 2022, all of which are available electronically on SEDAR at www.sedar.com. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.