Koulou Gold Receives Exploration Permits and Announces Management Changes

May 10, 2023

Vancouver, British Columbia, May 10, 2023 – Koulou Gold Corp. (“Koulou Gold” or the “Company”) is pleased to announce the receipt of a new exploration permit for its Sakassou Project (PR0944) located in Côte d'Ivoire, West Africa. The Company has also received a second exploration permit (PR0916) for its Boundiali Project, also located in Cote d’Ivoire. The Sakassou Project covers approximately 39,691 hectares and is located in the Bouaflé Greenstone Belt, in the central part of the country, approximately 30 kilometers to the northwest of the Yaoure Gold Mine (Perseus Mining Ltd.). The Boundiali permit covers 29,846 hectares within the Boundiali-Syama Greenstone Belt, in the northern region of the country. 

In 2022, after the maiden drill program at the Sakassou Project, the Company reported a significant gold discovery at the Beta West target, including drillhole BWRC-014 which intersected 33m at 2.38 g/t including 15m at 3.83 g/t Au. With the new permit granted, the Company looks forward to continued exploration in order to advance the discovery at Beta West along with numerous other targets areas within the Sakassou Project. 

Désiré Aboukan, President of Koulou Gold Corp., commented, "We are very excited to announce the granting of our Sakassou and Boundiali exploration permits. These permits allow us to continue our exploration efforts in the region and build upon the significant gold discovery we made during the maiden drill program at Sakassou.”

Management Update

The Company also announces the appointment of Alex Ruggieri as Chief Executive Officer and the transition of Désiré Aboukan to President. Mr. Ruggieri brings a wealth of experience in corporate finance and public markets, while Mr. Aboukan's extensive knowledge and experience in exploration and mining in Africa will be invaluable in growing the Company's operations in the region. Prior to joining Koulou Gold, Mr. Ruggieri worked as a broker at Haywood Securities. He is a CFA Charterholder and has been involved in the formation and financing of multiple public companies, including Kenorland Minerals Ltd. (TSXV: KLD), where he served as a founding director. 

About Koulou Gold Corp.

Koulou Gold Corp. is a private mineral exploration company incorporated under the laws of the Province of British Columbia and based in Vancouver, British Columbia, Canada. Koulou Gold Corp.’s focus is early to advanced-stage exploration in West Africa. The Company currently holds an option to earn up to 100% interest in the Sakassou Project in central Côte d’Ivoire, and an additional exploration licence in the well-endowed Syama – Boundiali greenstone belt in northern Côte d’Ivoire. 

On behalf of Koulou Gold Corp.

Désiré Aboukan, President and Director

For further information, please contact:

Alex Ruggieri, CEO

Koulou Gold Corp. 


+1 778 888 4986

Cautionary Statement Regarding Forward Looking Statements 

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.