Kore Mining (TSX-V: KORE)(OTC: KOREF) CEO Scott Trebilcock on Advancing Multiple Asset Production Profile in the U.S.

Gerardo Del Real: This is Gerardo Del Real at the 2021 Precious Metal Summit in beautiful Beaver Creek. I am here with the CEO of Kore Mining, Mr. Scott Trebilcock. Scott, how are you today, sir?

Scott Trebilcock: Oh, Gerardo. I'm awesome. How are you?

Gerardo Del Real: Tough day at the office?

Scott Trebilcock: Yes, it is.

Gerardo Del Real: In the field?

Scott Trebilcock: In the field.

Gerardo Del Real: Listen, you are one of the few companies that has a phenomenal production profile envisioned for the next several years. You have multiple projects in a stable jurisdiction. You're cashed up. You have an excellent share structure. You have great long-term supportive shareholders. And yet there seems to be a disconnect in the market. I know with having assets in a great jurisdiction, it becomes a bit more tedious to make sure that you dot the I's and cross the T's. I want to get into that in just a second, but I would love for you to provide a brief overview of the company.

Scott Trebilcock: Great. For those not familiar, Kore has four million ounces of gold resources in the ground. We've got preliminary economic assessments to show those ounces have great value, and it builds that incredible production profile. As you've said, we've got a hundred and 150,000 ounce mines scoped out of those resources. So, great. Both those projects are in California, which you said is that great stable US rule of law. We own our assets and we're pushing them forward towards production. Around that we built some incredible exploration opportunities. We're really jazzed up to take these assets forward.

Gerardo Del Real: Let's talk about the recent financing. You closed, I believe, an $8 million private placement. I believe Eric Sprott played a large part in that. The market loved that. Fast forward a month or two later, the market didn't love the delay from the BLM in California. That's kind of forcing you to dot those I's and cross those T's in a different manner than you thought you would have to. Can we talk about that a bit?

Scott Trebilcock: That's a great way to put it. It is doing it in a different way than we originally envisioned. We've gone back working with the BLM to figure out how to move this project through their complicated levels of evaluation. They came back and told us that we had to reconfigure our plans of operations, and we've decided that going forward, we're going to permit the exploration drilling on a separate path than drilling over the main development project drilling. And that puts us on a path towards having a PO where we can go out and drill some of these amazing exploration targets while at the same time, moving the main project forward. It's a different path than we planned and we did take a fairly significant delay from that. You've seen the shares trade down because of that, but it doesn't change the underlying value that we can create from taking these projects from still a very low valuation, even at that price we were trading at around that financing, it's still an incredibly cheap price compared to the potential value of these assets.

Gerardo Del Real: It doesn't change the rocks. You mentioned four million ounce gold resource across multiple projects. You also mentioned the market cap and the pullback in the share price, which I think presents the opportunity. Where's that market cap right now?

Scott Trebilcock: We're currently trading at about a $50 million market cap. We've got, let's see at $1,600 gold, we've got about $900 million in NPV in those two projects with no exploration upside. So, that's the prize that you're aiming for.

Gerardo Del Real: $12 per gold ounce in a resource with economic studies attached to it?

Scott Trebilcock: That's right.

Gerardo Del Real: Excellent. Walk me through what comes next.

Scott Trebilcock: What comes next? So, at that other project, Long Valley it's called, it's also in California, we're currently in the late stages of permitting drilling and there it has been going very well. We are expecting to get a signed off permit any day now from the US Forest Service. We're currently seeking drillers and we'd expect to be out there later this fall testing some of the great upside targets. We've got sulfide potential underneath to generate some underground. We've got some growth in the oxides and that project I think is only going to get bigger.

Gerardo Del Real: Excellent. Is there anything else that you want to add that you want to make sure speculators and investors understand about Kore mining?

Scott Trebilcock: I think they should really pay attention to the fact that how do you differentiate a project to get it permitted? There's lots of deposits out there. There's lots of things in Nevada and that have been kicking around a long time. At our Imperial project, we've got a mine with a difference. Part of our project will be helping with this major remediation project in Southern California. We're attracting some great stakeholders that are going to be supporting us. And I think all of that great story is going to help us move this thing into production.

Gerardo Del Real: We'll make sure to put a link up to the corporate presentation. I know that's a part of it. It's in the slide deck there. Scott, thank you so much for your time. I appreciate it.

Scott Trebilcock: It's a pleasure. Thanks for having me.

Gerardo Del Real: Thank you. I'll let you get back to it. Tough day at the office. All right.

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