Mr. Derek Macpherson reports

OLIVE RESOURCE CAPITAL ANNOUNCES NOVEMBER 30, 2023 NAV OF C$0.064 PER SHARE AND ANNOUNCES GRANT OF OPTIONS

Olive Resource Capital Inc. has provided investors an updated, unaudited net asset value (NAV) per share. Management has estimated the NAV of the Company at C$0.064 per share for November 30, 2023 (Table 1). At the end of November, the Company's price per share was C$0.03.

Working Capital is calculated as cash, minus management's estimate for known liabilities and is subject to change with future estimates or financial reports.Olive defines Liquid Investments as investments whose position can be liquidated in less than one day's average trading volume for that security.

Samuel Pelaez, the Company's President, CEO, CIO and Director stated: "The U.S. dollar index dropped in November, lending increased liquidity to global markets. Metals' prices rose and risk assets rebounded off the years' lows. Crude oil prices dropped as the geopolitical tensions eased somewhat, and many producers increased supply. The global monetary system remains tight, with the exception of China whose central bank continues to inject liquidity and whose manufacturing index remains in expansionary mode."

Derek Macpherson, Executive Chairman stated: "As we have been evaluating the state of mining equities and the apparent lack of interest, as reflected by share prices and trading multiples, we believe that the Q4 2023, has similar characteristics, Q4 2015. From the lows in Q4 2015, to highs in H1 2016 gold increased by about 20%; however, many gold equities, both large and small delivered well over 100% returns in that period. While we are not certain that history will repeat, the gold price is already up about 12% off the lows and we are positioning Olive's portfolio to take advantage of this potential opportunity."

During the month of November, the Company did not repurchase shares pursuant to the Normal Course Issuer Bid. As of November 30, 2023 the Company has repurchased a total of 2,200,000 shares pursuant to the NCIB in 2023. These shares are currently held in treasury pending cancellation.

As of the date of this release Olive Resource Capital Inc. has 111,768,709 common shares outstanding.

Grant of Options to Management, Board of Directors, and Consultants

On November 27, 2023 the Board of Directors of the Company granted 2,500,000 incentive stock options to Directors, Officers, and Consultants. The options are subject to the Corporation's stock option plan. The options have an exercise price of $0.05 per share and expire on November 27, 2028. The options vest in tranches over a period of 3-years from the date of grant.

Use of Non-GAAP Financial Measures:

This press release contains references to NAV or "net asset value per share" which is a non-GAAP financial measure. NAV is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP financial measure presented in the Company's consolidated financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes that the measure provides information useful to its shareholders in understanding the Company's performance, and may assist in the evaluation of the Company's business relative to that of its peers. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP, and is not necessarily indicative of other metrics presented in accordance with GAAP. Existing NAV of the Company is not necessarily predictive of the Company's future performance or the NAV of the Company as at any future date.

About Olive Resource Capital Inc. (formerly Norvista Capital Corp):

Olive is a resource-focused merchant bank and investment company with a portfolio of publicly listed and private securities. The Company's assets consist primarily of investments in natural resource companies in all stages of development.

We seek Safe Harbor.