Mr. Sammy Cheng reports

DEBT DEFERRAL AGREEMENTS

On May 26, 2023, New Tymbal Resources Ltd. amended the terms of its outstanding loans payable of $1,271,700 from 6 per cent per annum to 12 per cent per annum and from a due date of Jan. 31, 2024, to Feb. 1, 2025, which went into effect on Aug. 1, 2023. The company also converted $2,743,257 of outstanding accounts payable and accrued liabilities, including $2,230,713 owed to companies controlled by a significant shareholder of the company, into loan agreements whereby the loans are unsecured, bears interest at 12 per cent per annum and were due on Feb. 1, 2025.

On May 26, 2025, the company entered into debt deferral agreements, deferring amounts owing through July 31, 2026. In total debt of $5,346,139 was deferred, including amounts owing to non-arm's-length parties of $3,454,692. The loans become payable July 31, 2026, including interest payable at 12 per cent per year. The company relied on the exemptions available through Multilateral Instrument 61-101, Section 5.5 (g) and sections 5.7 (1) (a) and (f), as applicable.

The company is currently in discussion to extend the loan due dates.

We seek Safe Harbor.