Komet Resources Inc.
TSX VENTURE : KMT

Komet Resources Inc.

November 25, 2016 11:32 ET

Komet Resources Inc.: Update on the Guiro and Moussala Exploration Programs

QUEBEC CITY, QUEBEC--(Marketwired - Nov. 25, 2016) - Komet Resources Inc. ("Komet" or the "Company") (TSX VENTURE:KMT) is pleased to announce a series of exploration programs that will take place in Burkina Faso and Mali.

Firstly, a soil geochemical sampling program consisting of 2700 one-meter deep boreholes is currently taking place on the Guiro/Diouga permit. These samples are being collected on a 100m x 100m grid and an additional series of 1300 samples is planned on a tighter grid around gold anomalous zones that will be encountered. There could be up to a total of 4000 samples collected and analyzed. The program covers an area measuring 7.5 x 3.6 km that was the subject of previous geochemical surveys (1980s and 1990s) that revealed several gold anomalous areas where no follow-up was made.

Still on the Guiro/Diouga permit, an airborne geophysical survey will kick off in December 2016. A total of 5200 linear kilometers will be flown based on 150-meter line spacings using Geotech's versatile time-domain electromagnetic (VTEM) and magnetic system (including total field and horizontal magnetic gradient). This data will be of great help in identifying geological structures with gold potential and the next priority targets.

Finally, over 2000 meters of core drilling is planned at levels 3 and 4 of the Guiro mine to identify mineralized areas striking east and west of the current mine workings, as well as deeper in the mine at level 5. The results of this drilling will support current operations and allow definition of additional resources.

Moussala Permit in Mali

A drill program starting in December 2016 on the Moussala permit will consist of reverse circulation (RC) drilling on a small 25m x 50m grid, concentrated in the Dabia south zone. A total of 3280 metres is planned, consisting in 41 boreholes that will average 80 meters depth. Added to the historical results in the same area, this program will allow for the estimation of near-surface gold resources.

"After seeing our last quarterly results progress dramatically, this series of exploration programs is giving a real significance to our motto: Discovering by producing!" says André Gagné, Komet's President and Chief Executive Officer.

More information about the corporation is available at: http://kometgold.com.

Forward-Looking Statements

Neither TSX Venture Exchange nor the regulatory service provider (as the term is defined in TSX Venture Exchange's policies) accepts any liability of any kind as to the authenticity or accuracy of this release. This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet Inc.'s ("Komet") control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet's management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.

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