Komet Resources Inc.: Update Concerning the Guiro Gold Mine in Burkina Faso

QUEBEC CITY, QUEBEC--(Marketwired - Jun 10, 2014) - Komet Resources inc. ("Komet" or the "Corporation") (TSX VENTURE:KMT) is pleased to announce that it has obtained the conditional approval of the TSX Venture Exchange (the "Exchange") in order to close the acquisition of the Guiro gold mine announced on May 28, 2014.

The final approval of the Exchange is conditional to the filing of the following documents:

• A 43-101 technical report on the property;
• a 6-months budget following the closing, which shows that the Corporation has the necessary financial resources to maintain its properties and covers Phase 1 of the recommended work program;
• the Corporation's auditors analysis demonstrating that the transaction does not constitute a company acquisition in accordance with the IFRS;
• a legal opinion on the property titles;
• the final agreement, including the underlying agreements and documents;
• the final form 5C; and
• the payment of the balance of applicable rights.

Komet is trying to file all the required documents with the Exchange in the shortest possible time. Komet's management believes that the acquisition of the Guiro gold mine will be completed within days following the filing of these documents and acceptance by the Exchange.

More information about the corporation is available at: www.kometgold.com

Forward-Looking Statements

Neither TSX Venture Exchange nor the regulatory service provider (as the term is defined in TSX Venture Exchange's policies) accepts any liability of any kind as to the authenticity or accuracy of this release. This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet Inc.'s ("Komet") control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet's management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.

Outstanding shares: 40,255,047