Karora Resources Announces That Leading Independent Proxy Advisory Firms ISS And Glass Lewis Recommend Karora Shareholders Vote For All Proposed Items At The Upcoming Shareholders Meeting

Press Release

TORONTO, June 10, 2022 – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce that Institutional Shareholder Services (“ISS”) and Glass Lewis & Co (“Glass Lewis”) have both recommended that Karora shareholders vote FOR all proposals that are outlined in Karora’s Notice and Information Circular (“Circular”) dated May 16, 2022 prepared in respect of the annual and special meeting of Karora shareholders scheduled for June 16, 2022 at 9:00 a.m. (Toronto time). The deadline for voting is 9:00 a.m. (Toronto time) on June 14, 2022.

ISS and Glass Lewis are leading, third party proxy advisory firms who, among other services, provide proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.

Karora encourages shareholders to read the meeting materials in detail. Copies of the meeting materials, which include instructions as to how to attend the virtual meeting, are available under Karora’s profile on SEDAR at www.sedar.com.

Karora shareholders who have questions or require assistance in order to vote their shares, can contact the Proxy Solicitation Agent, Morrow Sodali Inc.:

Morrow Sodali
North American Toll Free: 1-888-999-2717
Calls Outside North America: 1-289-695-3075
Email: [email protected]

About Karora Resources

Karora is focused on increasing gold production to a targeted range of 185,000-205,000 ounces by 2024 at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations (“HGO”) in Western Australia. The Higginsville treatment facility is a low-cost 1.6 Mtpa processing plant, which is fed at capacity from Karora’s underground Beta Hunt mine and Higginsville mines. Karora recently announced the proposed acquisition of the Lakewood Mill in Western Australia which will initially add 1.0 Mtpa capacity.  At Beta Hunt, a robust gold Mineral Resource and Reserve are hosted in multiple gold shears, with gold intersections along a 4 km strike length remaining open in multiple directions. HGO has a substantial Mineral gold Resource and Reserve and prospective land package totaling approximately 1,900 square kilometers. The Company also owns the high grade Spargos Reward project, which came into production in 2021. Karora has a strong Board and management team focused on delivering shareholder value and responsible mining, as demonstrated by Karora’s commitment to reducing emissions across its operations. Karora’s common shares trade on the TSX under the symbol KRR and also trade on the OTCQX market under the symbol KRRGF.

For further information: Rob Buchanan, Director, Investor Relations, T: (416) 363-0649

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