Mr. Robert Klenk reports

JZR GOLD ENTERS INTO LOAN AGREEMENTS

JZR Gold Inc. has entered into loan agreements with each of four arm's-length lenders dated June 8, 2023, pursuant to which the company will borrow the aggregate principal sum of $1-million. The loans, which are unsecured, will have a term of one year and bear interest at a rate of 12.0 per cent per annum. The aggregate principal sum of the loans, and any accrued but unpaid interest, shall be due and payable on the maturity date, provided, however, that the company may pay back the principal plus any accrued and unpaid interest on the loans to the lenders at any time without penalty.

Subject to approval of the TSX Venture Exchange, the company will also issue to the lenders an aggregate of 300,000 common shares as additional consideration for the loans. The bonus shares are subject to a hold period of four months and one day from the date of issuance.

The company possesses a right to receive a 50-per-cent net profit interest in gold produced from the Vila Nova gold project located in the state of Amapa, Brazil. The project is currently being developed by Eco Mining Oil & Gaz Drilling and Exploration Ltda. as the operator. Eco commissioned the installation of a gravimetric mill for the project, which mill has been assembled and is operational, but is not currently operating at full capacity. The company wishes to assist Eco to bring the mill to full operational capacity and intends to advance a majority of the net proceeds of the loans as a loan to Eco specifically for this purpose.

We seek Safe Harbor.