Mr. Samuel Pelaez reports

OLIVE RESOURCE CAPITAL ANNOUNCES MARCH 31, 2024 NAV OF C$0.064 PER SHARE

Olive Resource Capital Inc. is offering investors an updated, unaudited net asset value per share. Management has estimated the NAV of the company at 6.4 cents per share for March 31, 2024. At the end of March, the company's price per share was three cents.

         
                        OLIVE NAV BREAKDOWN

                                                                       Value
Name                                     Ticker            Value     per share

Black Sheep Income Corp.                 Private      $1,265,589         0.012
Guided Therapeutics Inc.                 Private        $372,610         0.003
Nevada Zinc Corp.                        NZN: TSX-V     $269,976         0.002
Working capital and liquid investments                $2,801,540         0.026
Other public equity investments                       $1,429,046         0.013
Other private equity investments                        $720,410         0.007
Other merchant banking investments                      $107,725         0.001
Total                                                 $6,966,897         0.064

Samuel Pelaez, the company's president, chief executive officer, chief information officer and director, stated: "Major commodities posted a strong rally during the month of March. Major commodity producers saw their stocks perform strongly, tracking the moves in commodities. Meanwhile, junior resource equities posted more modest advances. At Olive, we continued to deploy capital into the junior resource space as we expect junior equities to follow the advance of their larger counterparts."

Derek Macpherson, executive chairman, stated: "Olive's NAV was effectively flat month over month (MoM) despite strong gains over the majority of the positions in the portfolio, including Omai Gold Mines up 83 per cent, Mawson Gold up 52 per cent, Aurion Resources up 27 per cent, Victoria Gold up 25 per cent and Karora Resources up 24 per cent. However, these gains were entirely offset by a significant decline in the value of Nevada Zinc's shares, a legacy position, as its current financial distress appears to have been recognized by the market. This underperformance driven by a single investment having such a large portfolio impact highlights why Olive has been working to diversify its portfolio."

Normal course issuer bid

During the month of March, the company did not repurchase any pursuant to its NCIB. As of the date of this release, the company holds 500,000 shares in treasury pending cancellation.

As of the date of this release Olive Resource Capital has 109,174,709 common shares outstanding.

About Olive Resource Capital Inc.

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.