CALGARY, ALBERTA, January 28, 2025 – TheNewswire - Kairos Gold Inc. (“Kairos” or the “Company”) is pleased to report the results of the drilling program completed on the recently acquire Oro Brilliante claim block located within its Las Garillas property.  Kairos also confirms that the final payment required to complete the purchase option on the Oro Brilliante block has been been made and that the Company plans to complete a private placement to provide funding for further development of this significant property located in a mineral-rich area of Chile.

 

The Las Garillas Property

 

The Las Garillas Property consists of 2,000-ha located approximately 308 km north of Santiago, Chile and situated within a well-known metallogenic belt in Chile, known for significant deposits and mining activities.

 

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Figure 1: Las Garillas property map showing historical surface workings near the Oro Brilliante mine.

   

The Oro Brilliante Claim Block

 

The Las Garillas property encompasses a 100-hectare internal claim called “Oro Brilliante,” which includes the Oro Brilliante mine. Located within the Vicuña Fault system at the eastern boundary of the mineral-rich Central Porphyry Copper-Gold Belt, the area has a history of significant mineral deposits.

As depicted in Figure 2, a comprehensive geophysics campaign consisting of five lines totaling 5,800 meters was conducted from January to February 2024. The techniques employed included electrical resistivity and induced polarization (IP). Oriented northwest-southeast, the IP lines were executed parallel to one another.

  

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Figure 2: Oro Brillante claim block (yellow) and IP lines conducted over the block (purple)

 

Since 2019, the Las Garillas property has undergone extensive surface and underground sampling programs conducted by Kairos and its predecessor. The underground sampling was performed on mine faces located within shallow artisanal mining adits near the Oro Brilliante Mine. The results from these samples have been notably significant, exhibiting a range as follows:

 

Gold:                 1.9 - 61.4 g/t

Silver:                9.6 - 325 g/t

Copper:         0.3 - 12.3 percent

  

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Figure 3: Surface Sample Locations/Results on Las Garillas (Oro Brilliante claim block shown in green)

  

The Oro Brilliante Option Agreement

 

The notable results from mine face sampling prompted the Company to enter into an option agreement on January 17, 2024, allowing Kairos to acquire a 100% unencumbered interest in the Oro Brilliante internal claim block. The acquisition price was US $839,664.00, which included two installments of US $279,888, on the 6-month and 12-month anniversaries, and a final payment of US $279,888 at closing (the “Purchase Option Agreement”).

  

Kairos is pleased to announce that the final installment under the Purchase Option Agreement was made on January 15, 2025, granting the Company complete ownership of the Oro Brilliante internal claim block, free and clear of all encumbrances, without any third-party overriding royalties, Net Smelter Returns (NSRs), or similar payment obligations.

 

Drilling Program

 

Before proceeding with the second and third option payments, Kairos conducted a 1,500-metre drilling program based on the insights gained from previous exploratory efforts. This included a 5-hole diamond drill program within the confines of the internal Oro Brilliante claim. Each drill hole achieved a depth of approximately 300 meters, subsequent to which, the core was extracted and sectioned for analytical purposes.

 

Drilling Results

 

Kairos Gold is very please to announce results from the Oro Brilliante drilling program.  The results show multiple stacked, high-grade intercepts that are open at depth and along the strike zone. The tables below provide results for the intercepts depicted on the illustration immediately to the right of each summary table:

    

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Table 1: Drill Results, Hole 01, 02 & 05

Regarding the drilling results, Terry Walker, Kairos’ VP Exploration commented: “We are thrilled to have cut mineralization that contains very significant gold grades.  Assaying for Lanthanum has returned significant grades up to 2,860 ppm which requires that further analysis be done to determine which of the light rare earth minerals in the Lanthanide sequence contribute to such outstanding results”.

   

Private Placement

 

The Company plans to complete a non-brokered private placement of a minimum of 5,250,000 units (the “Units”) up to a maximum of 7,500,000 Units at a price of $0.20 per Unit, for aggregate gross proceeds of a minimum of $1,050,000 up to a maximum of $1,500,000 (the “Offering”).

Each Unit will be comprised of one (1) common share of the Company (each a “Common Share”) and one-half of a Common Share purchase warrant (each whole warrant, a “Warrant”). Each full Warrant will entitle the holder thereof to purchase one common share in the capital of the Company ‎‎(each a “Warrant Share”) at a price of $0.35 per Warrant Share at any time prior to 5:00 p.m. ‎‎(Calgary time) on the date that is thirty-six (36) months from the date of issuance of the Warrants. ‎ The Warrants will include an acceleration provision whereby if the Common Shares are listed and trade at a price greater than $0.65 for a period of 10 trading days, Kairos may accelerate the expiry of the Warrants.

 

The Company intends to use the gross proceeds to fund development and exploration of the Company’s properties, general and administrative expenses, payment obligations related to the Company's properties, and for general working capital requirements. Completion of the Offering in a minimum amount of $1,050,000 is one of the requirements to be completed by the Company to meet TSX Venture Exchange conditions such that the Company may proceed with a listing of its common shares on the facilities of the TSX Venture Exchange.

 

Kairos may pay a cash commission or finder's fee to qualified non-related parties of up to 5% of the gross proceeds of the Offering (up to $75,000) and issue broker warrants (the “Broker Warrants”) equal to up to 5% of the number of Units sold in the Offering (up to 375,000 Broker Warrants). Each Broker Warrant will entitle the holder to acquire one Common Share at a price of $0.20 per Broker Warrant for a period of one (1) year from the date of issuance.

 

The Common Shares, Warrants and Broker Warrants to be issued pursuant to the Offering will be subject to a four month and one day hold period. Completion of the Offering is subject to regulatory approval.

 

ABOUT KAIROS GOLD INC.

 

Kairos Gold intends to strategically develop a property portfolio spanning 22,433 hectares across five projects in Chile, positioned within the prolific Chilean mega porphyry belt known for its rich deposits of gold, silver, and copper. The Company looks forward to continuing to report on  exploration advancements on its Las Garillas property in this mineral-rich region.

To find out more about Kairos Gold, please contact Steven Cochrane, Director via email: steve@lithiumchile.ca or Michelle DeCecco, Director via email: michelle@lithiumchile.ca or by phone, 403-390-9095. Additional information about Kairos Gold may be found in its continuous disclosure documents filed with Canadian securities regulators on SEDAR+.

   

NOT FOR RELEASE IN THE UNITED STATES OF AMERICA

 

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. Any securities referred to herein have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") and may not be offered or sold in the United States or to or for the account or benefit of a U.S. person in the absence of such registration or an exemption from the registration requirements of the 1933 Act and applicable U.S. state securities laws.

 

Forward Looking Statements

This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "expected", "anticipated", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, this news release contains forward-looking statements relating to, among other things: the Company's ability to obtain necessary approvals. Such forward-looking statements are based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the general stability of the economic and political environment in which the Company operates; the timely receipt of required regulatory approvals; the ability of the Company to obtain future financing on acceptable terms; currency, exchange and interest rates; operating costs; the success the Company will have in exploring its prospects and the results from such prospects. You are cautioned that the foregoing list of material factors and assumptions is not exhaustive. Although the Company believes that the assumptions and factors on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct or that any of the events anticipated by such forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive there from. Actual results could differ materially from those currently anticipated due to a number of factors and risks including, but not limited to: fluctuations in market conditions, including securities markets; economic factors; the risk that the  private placement will not be completed as anticipated or at all, including the risk that the Company will not receive the approvals necessary in connection with private placement. The Company does not undertake to update any forward-looking statements herein, except as required by applicable securities act requirements.