Mr. Jeffrey Benavides reports

NEWLOX GOLD GRANTED APPROVAL FOR THE INSTALLATION OF ITS ELECTRICAL SUBSTATION AT PLANT 2

Newlox Gold Ventures Corp. has reached a significant milestone in its operations with the resolution of the electrical supply issue for plant No. 2 (the Boston project). The Boston project will benefit from connection to the Costa Rican grid, which is a stable and 98-per-cent renewable electricity system.

After months of dialogue, Newlox has reached a comprehensive agreement with ICE, the Costa Rican Electrical Institute, to construct and install essential infrastructure, which will ensure a reliable and robust electrical supply to the project. The collaboration involved extensive and meticulous planning, which has resulted in ICE granting final approval.

After five months and considerable negotiations, ICE has approved the final deployment of appropriate equipment to sustain the current and future operations. Under the agreement with ICE, Newlox has acquired the necessary equipment at its own expense. Furthermore, ICE executed a series of upgrades to the power lines, contributing to the overall improvement of the company's facilities. While these enhancements temporarily impacted the company's operations, they are pivotal to ensuring its long-term success.

Newlox Gold has already secured a team of skilled professionals to execute the agreed-upon work and has initiated the procurement process for the required components, including the essential electrical transformer. This strategic move aligns with the company's commitment to operational excellence and positions the company for sustained power supply.

The Boston project is slated to become the company's second environmentally and socially responsible precious metals project in Costa Rica. The project will process feedstock newly extracted from the Boston mine by the company's local mining partners. At full scale, Newlox will operate the new Boston mill to process 150 tonnes per day of material grading greater or lesser than 15 grams per tonne gold with an anticipated gold recovery of 90 per cent. All feedstock is to be provided by the company's mining partners, with profits to be split evenly between the parties.

"We are pleased to have successfully navigated through the complexities of securing a stable electrical supply for plant No. 2. This achievement underscores our dedication to overcoming challenges and reinforces our commitment to responsible and sustainable growth," said Jeffrey Benavides, chief financial officer of Newlox Gold Ventures.

We seek Safe Harbor.