Mr. Peter Main reports

LANDMARK AGREEMENT REACHED WITH T'BOLI SMALL SCALE MINERS

Rizal Resources Corp.'s Philippine local partner, Tribal Mining Corp. (TMC), has concluded a landmark agreement with the small-scale miners who have co-existed at the T'Boli gold mine since the issuing of the mining licence in 1997. This is a milestone transaction for both TMC and Rizal and represents a mutually beneficial outcome for all parties, including TMC, Rizal, the small-scale miners and, more importantly, the local T'Boli community.

While the details of the agreement are confidential, this transaction paves the way for TMC to fully optimize the T'Boli orebody. Underground development at T'Boli continues and has intersected the first mineralized vein and is within five metres of reaching the second vein. Ore development is expected to commence in the next two weeks.

Under the agreement, the small-scale miners will be financially compensated over the next five years and will provide their full support to the T'Boli operation. This is a significant step in TMC and Rizal's future objective to build a successful and sustainable operating gold mine in the Philippines, as previous co-existence significantly restricted commercial mining activity and generated major safety concerns.

The small-scale miners and employees who previously worked in the areas safeguarded by the agreement will be given the opportunity and assistance to learn and engage in a new trade through TMC's livelihood training centre. This training centre is a flagship project of TMC's 2017-to-2022 social development management program and seeks to help the community learn agriculture and agronomy, souvenir making, carpentry, electronics repair, and other trades.

This transaction is another important step in the restructuring of Rizal and the T'Boli project. Rizal and TMC express their appreciation for the continuing support of the local community and local government units to support the first commercial mine successfully operating in South Cotabato.

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