Mr. Andrew Maloney reports

THEMAC ENTERS INTO AMENDING LOAN AGREEMENT WITH TULLA RESOURCES GROUP PTY LTD

Themac Resources Group Ltd. has entered into an amending loan agreement with Tulla Resources Group Pty. Ltd. Tulla will increase its loan under the previously amended loan agreement dated Oct. 20, 2016, with Themac, from its amount of $42.3-million to $43.5-million.

The Tulla loan is due on demand and accrues interest at a rate of 20 per cent per annum.

The advance from Tulla is a related-party transaction under TSX Venture Exchange Policy 5.9 because Tulla is a control person of the company. The company is relying on the exemption from the requirement to obtain a valuation on the basis that the issuer is not listed on a market specified under MI 61-101, and the company is relying on the exemption from minority shareholder approval provided under MI 61-101 in relation to loans made on commercially reasonable terms, which are not convertible into voting or equity securities of the company.

The amending agreement was approved by the independent directors of the company.

About Themac Resources Group Ltd.

Themac is a copper development company with a strong management team and as of May 18, 2011, has a 100-per-cent ownership interest in the Copper Flat copper-molybdenum-gold-silver project in New Mexico, United States. It is committed to bringing the closed copper mine, Copper Flat, in Sierra county, New Mexico, back into production with innovation and a sustainable approach to mining development and production, local economic opportunities, and the best reclamation practices for its unique environment.