Mr. Dwayne Yaretz reports

MUZHU RECEIVES ADVANCE PAYMENT ON BULK SAMPLE FROM WULONGGOU GOLD MINE

Muzhu Mining Ltd.'s wholly owned Chinese subsidiary Luoyang Sow International Mining Company Ltd. has received a 200,000-renminbi (about $40,000) advance payment against a bulk sample from the Wulonggou gold mine.

The Wulonggou gold mine is in Xishan township, Luoning county, Henan province, China. Luoning county encompasses numerous historical and producing gold-silver mines.

Luonyang Kai Xing Commerce Co. Ltd. of Dongcheng community, Luoning county, Henan province, China, collected and analyzed samples from WGM and, subsequently, offered to purchase the 200 tons of concentrate from the first 5,000-ton bulk sample announced by Muzhu in its news release dated Dec. 13, 2024. Luonyang Kai Xing Commerce has issued Muzhu a 200,000-renminbi refundable deposit.

The historical F12 vein was exposed after excavating a new portal and drifting 70 metres. The bulk sample will be sent to the Luoning county Jun De Hong Yu flotation mill for processing. The mill is approximately 10 kilometres from the Wulonngou mine and has a 1,000-tonne-per-day capacity.

The F12 is one of several veins in the WLG gold mine mineralized structure. Three of these currently identified veins are still being worked on, but production from the F12 vein ceased in 1999 when a provincial highway was constructed, and the mine entrance was deemed too close to the proposed highway.

Muzhu is a Canadian publicly traded exploration company with a portfolio of highly prospective projects at various stages of development. Muzhu currently holds a 100-per-cent interest in the Sleeping Giant South project, located in the Abitibi greenstone belt, approximately 75 kilometres south of Matagami, Que. Muzhu has also executed two option agreements to acquire up to 80 per cent of the silver, zinc and lead XWG and LMM properties in the Henan province in China.