CLN Conversion and Full and Final Settlement

Katoro Gold plc (Incorporated in England and Wales)

(Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

("Katoro" or "the Company")

19 January 2021

Katoro Gold plc ('Katoro' or the 'Company')

CLN CONVERSION AND FULL AND FINAL SETTLEMENT

Katoro Gold plc (AIM: KAT), the AIM listed gold and nickel exploration and development company, announces that, further to previous announcements, most recently on 17 November 2020, it has received further notices from certain clients of SI Capital, the Company's broker, who participated in the January 2020 Convertible Loan Note ('CLN') to convert, in aggregate, £17,000 principal value of the CLN at a conversion price of 1.4 pence per share. As a result, the Company will issue the relevant CLN holders with 1,214,285 new ordinary shares of 1 pence each in the Company ('Ordinary Shares') ('Conversion Shares') and following the conversion, the CLN will have been settled in full with no principal outstanding balance remaining. The CLN accrues interest at 20% per annum on a daily basis and the total accrued interest relating to the foregoing conversions amount to £3,390.68 which will be settled in cash.

Admission and Total Voting Rights

Application will be made for 1,214,285 new Ordinary Shares to be admitted to trading on AIM, and dealings are expected to commence on or around 26 January 2021 ('Admission').  Following Admission, the share capital of the Company will comprise 377,912,593 Ordinary Shares.

Each Ordinary Share has one voting right and no Ordinary Shares are held in treasury.  Accordingly, the total number of voting rights will be 377,912,593 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Katoro under the FCA's Disclosure Guidance and Transparency Rules.

Following the issue of the Conversion Shares and Admission, Kibo Energy PLC will be interested in, in aggregate, 96,138,738 Ordinary Shares representing approximately 25.44% of the Company's then issued share capital.

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014.

**ENDS**

For further information please visit www.katorogold.com or contact: