Mr. Ian Rozier reports

NEWPORT RECEIVES AUD$1,368,519 (GROSS)/AUD$957,963 (NET) QUARTERLY ROYALTY PAYMENT

Newport Exploration Ltd. has received its after-tax 2.5-per-cent gross overriding royalty (GOR) payment from Beach Energy Ltd. for the November, 2023, to January, 2024, quarter. Gross royalty income for the quarter was $1,368,519 (Australian). The $957,963 (Australian) payment received by Newport is net of 30 per cent Australian withholding tax ($410,556 (Australian)).

Company financial status

Newport has approximately $2.5-million in its treasury, comprising cash, cash equivalents and short-term investments. As announced on Feb. 12, 2024, Newport's first quarterly dividend payment date for 2024 is March 12, 2024. After the dividend payment, the company will have approximately $2-million in its treasury and no debt.

Newport proposes to maintain regular dividend payments to shareholders with the option to change the quarterly dividend payments from time to time. Investors are cautioned that historical results are no guarantee of future performance.

About Newport Exploration Ltd.

Newport has a 2.5-per-cent GOR over licences in the Cooper basin, Australia, operated by Beach. There is no time limit or expiry date on the GOR assets and no cost to the company to retain them.

We seek Safe Harbor.