Toubani Resources update on Kobada Gold Project and board changes

Toubani Resources Limited (ASX:TRE) is pleased to announce the appointment of former Barrick and Gold Fields Project Director Mike Nelson as a Non-Executive Director to the Toubani Board. This follows the decision of Non-Executive Director Tim Kestell to step down from the Board after a successful two and a half-year tenure. The Company also reports that the Definitive Feasibility Study (DFS) for the Kobada Gold Project in Mali remains on schedule for completion in October 2024.

Toubani Managing Director's perspective on recent developments

I would like to extend a warm welcome to Mike and look forward to his contribution to Toubani in the period ahead as we complete the DFS for Kobada and position the Project on the development pathway. Mike's extensive experience in studies and project delivery complements the Company's existing development expertise well. I would like to thank Tim for his counsel and contribution to the Board over the past two years and wish him well for the future. We continue to move rapidly towards completion of the Kobada DFS with the study on schedule for release next month. Our vision continues to be presenting Kobada as a project of scale, leveraging the significant oxide endowment in our resource. The recent agreements by B2 Gold and Allied Gold are welcome milestones for the Malian mining industry, further pointing to a return to regulatory stability and the precursor for an anticipated return of significant capital investment in the country. Toubani is also engaged in productive discussions with the State of Mali on finalising its convention for Kobada as both parties work to advance the next significant gold mine for the country.

Toubani Resources outlook and ongoing engagements

Toubani Resources (ASX:TRE) has welcomed Mike Nelson as a Non-Executive Director, bringing extensive experience in mining operations and project leadership. The Company is on track to complete the Definitive Feasibility Study for the Kobada Gold Project in Mali by October 2024. Toubani is optimistic about the recent agreements by B2 Gold and Allied Gold, seeing them as positive indicators for the Malian mining industry's regulatory stability and potential capital investment. The Company is actively involved in discussions with the State of Mali to advance the Kobada Gold Project and aims to position it as a significant gold mine for the country's future development.