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Forward Looking Statements

Karora Resources Inc.'s ("Karora Resources" or the "Company") website and the contents therein contain "forward looking information" including without limitation statements relating to the liquidity and capital resources of the Company, production and AISC guidance for 2020 and the potential of the Beta Hunt Mine, Higginsville Gold Operation and Dumont Nickel Project. Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements. Factors that could affect the outcome include, among others future prices and the supply of metals the results of drilling inability to raise the money necessary to incur the expenditures required to retain and advance the properties environmental liabilities (known and unknown) general business, economic, competitive, political and social uncertainties accidents, labour disputes, labour and operational disruptions due to the COVID 19 outbreak and other risks of the mining industry political instability, terrorism, insurrection or war or delays in obtaining governmental approvals, projected cash costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements, refer to Karora Resources' filings with Canadian securities regulators available on SEDAR at www.sedar.com.

Cautionary Statement Regarding the Higginsville Mining Operations

A production decision at the Higginsville Gold Operations was made by previous operators of the mine, prior to the completion of the acquisition of the Higginsville Gold Operations by the Company and the Company made a decision to continue production subsequent to the acquisition. This decision by RNC to continue production and, to the knowledge of the Company, the prior production decision were not based on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, which include increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability. Readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.

Cautionary Note - Resources

In accordance with applicable Canadian securities regulatory requirements, all mineral resource estimates of the Company disclosed on the website and the contents therein have been prepared in accordance with Canadian National Instrument 43 101 -  Standards of Disclosure for Mineral Projects ("NI 43-101") classified in accordance with Canadian Institute of Mining Metallurgy and Petroleum's "CIM Standards on Mineral Resources and Reserves Definitions and Guidelines" (the "CIM Guidelines"). Pursuant to the CIM Guidelines, mineral resources have a higher degree of uncertainty than mineral reserves as to their existence as well as their economic and legal feasibility Inferred mineral resources, when compared with measured or indicated mineral resources, have the least certainty as to their existence, and it is reasonably expected the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration Pursuant to NI 43-101 inferred mineral resources may not form the basis of any economic analysis, including any feasibility study. Accordingly, readers are cautioned not to assume that all or any part of a mineral resource exists, will ever be converted into a mineral reserve, or is or will ever be economically or legally mineable or recovered. The Company is not aware of any environmental, permitting, legal, title related, taxation, socio political, marketing or other relevant issue that could materially affect the mineral resource estimate.