Kiboko Announces Holdings in Tres-Or Resources Ltd.

KELOWNA, British Columbia, Dec. 13, 2019 (GLOBE NEWSWIRE) -- Kiboko Exploration Inc. ("Kiboko") announces that it has disposed ownership of 626,316 Common Shares ("Shares") of Tres-Or Resources Ltd. ("Tres-Or") representing a decrease in holdings of approximately 4.2% of the outstanding common shares on a partially diluted basis. Prior to this reduction of common share ownership, Kiboko beneficially owned and controlled 1,026,316 Shares of Tres-Or, representing approximately 7.3% of the outstanding Shares on a non-diluted basis, and 1,026,316 Common Share Purchase Warrants ("Warrants") representing approximately 13.7% on a partially diluted basis, assuming exercise of all Warrants.

As a result of this change in equity ownership, Kiboko now beneficially owns and controls 400,000 Shares representing approximately 2.9% of the outstanding Shares on a non-diluted basis and approximately 9.5% on a partially diluted basis assuming the exercise of all 1,026,316 Warrants controlled by Kiboko. As a result of this change in equity ownership, Kiboko's beneficial ownership has decreased to less than 10% since Kiboko's last early warning report filing.

The securities noted above are held for investment purposes. Kiboko may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Tres-Or's Head Office is located at 1934 - 131 Street, White Rock, British Columbia, Canada V4A 7R7. The early warning report with respect to the foregoing will appear on Tres-Or's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com. A copy may also be obtained by calling Kiboko at +1 (778) 381-5949 or emailing [email protected].