PASOFINO GOLD LTD - EFRGF STOCK NEWS

Pasofino Gold (TSXV: VEIN) (OTCQB: EFRGF) has announced results from its maiden diamond core drilling at the Bukon Jedeh 'gold camp' within the Dugbe Gold Project in Liberia. Highlights include:

• 8 out of 11 holes reached target depth with gold mineralized intervals
• BKDD001: 21.3m with an average grade of 0.9 g/t Au from 53.5m downhole
• BKDD004: 4.0m with an average grade of 2.1 g/t Au from 46.5m downhole
• BKDD011: 2.5m with an average grade of 2.2 g/t Au from 43.5m downhole

The company plans to focus future exploration on the western area of Bukon and the DSZ target, which is 4 km from the Tuzon deposit and yielded 36m at an average of 0.6 g/t Au in a previous channel cut.

Pasofino Gold has completed a diamond core drilling program at the Bukon Jedeh 'gold camp' within its Dugbe Gold Project in Liberia. The program tested 11 holes totaling 1,328 meters. The drilling targeted various sites, including historic intersections and new promising intervals. Notably, a 1.5 km long east-west zone, named SPMC-99 Steps trend, was identified. The drilling was completed on time and within budget, with sampling 50% complete and results expected in July 2024. Several intervals show multi-meter-wide zones of sulphide minerals, potentially indicating gold presence. The company maintains positive relations with local communities, supporting the successful execution of the project.

Pasofino Gold has announced the appointment of Warren Greenslade as interim CEO, replacing Dr. Daniel Limpitlaw. Dr. Limpitlaw will remain as a consultant, focused on providing technical support for the Dugbe Project. Greenslade, currently the Country Manager for Liberia, brings 15 years of project and operational management experience, including roles in Bosnia, the Middle East, and Africa. His previous experience includes positions with Chevron Oil and managing mining projects in Ghana, DRC, Guinea, and Gabon. The company aims to appoint a permanent CEO with a strong mine development track record as the Dugbe Project progresses.

Pasofino Gold (EFRGF) announces the start of drilling at Bukon Jedeh, a priority target for gold exploration in Liberia. The drilling program will test historic results, artisanal mine-sites, and new targets in a gold-rich zone. Pasofino has completed ground magnetic surveying and geological mapping to inform drilling locations. The community leaders have welcomed the company's work, and Pasofino is focusing on optimizing the 2022 Feasibility Study. CEO Daniel Limpitlaw expressed excitement about the drilling campaign, highlighting the potential for new gold deposits in the region.

Pasofino Gold Limited announces the commencement of exploration at Bukon Jedeh, a target area at the Dugbe gold project in Liberia. The area shows potential for high-grade gold deposits, with drilling expected to start in March 2024. Community support, historical data, and geological mapping indicate promising prospects for new discoveries.

Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) notes an announcement made by its majority shareholder, Hummingbird Resources plc (AIM: HUM), confirming the passing of resolutions proposed at its General Meeting and the closing of its Open Offer. HB PLC has announced an intention to dedicate approximately $2 million to the Dugbe Gold project, subject to commercial terms and necessary approvals.

Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) notes an announcement made by its majority shareholder, Hummingbird Resources plc (AIM: HUM), confirming the passing of all resolutions proposed to shareholders at its General Meeting and the closure of its Open Offer. HB PLC has announced an intention to dedicate approximately $2 million to the Dugbe Gold project, subject to commercial terms and necessary approvals.

Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) notes an announcement made by its majority shareholder, Hummingbird Resources plc (AIM: HUM), regarding a proposed Share Placement expected to close on 10th January 2024. Approximately $2 million of the proceeds will be dedicated to progressing the Dugbe Gold Project in Liberia, bringing this highly valuable asset closer to production. The funds will be used to optimize the 2022 Definitive Feasibility Study through FY-2024 and further progress the Project.

Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) and Hummingbird Resources plc (AIM: HUM) have completed the consolidation of the Dugbe Gold Project. Pasofino now owns 100% of the project, with HB PLC becoming a control person of Pasofino. As consideration, Pasofino issued 54,027,783 common shares to HB PLC. The board and management of Pasofino have undergone changes, with new directors appointed and previous ones resigning.