Mr. Samuel Pelaez reports

OLIVE RESOURCE CAPITAL REPORTS RECORD Q1 2025 INVESTMENT PERFORMANCE AND QUARTERLY NET INCOME

Olive Resource Capital Inc. has released its financial results for the three months ended March 31, 2025.

Highlights:

• The investment portfolio was valued at $7,518,305 for March 31, 2025. The investment portfolio value increased by 17.1 per cent and the NAV (net asset value) per share increased 20.7 per cent during Q1 (first quarter) 2025.
• As a result of strong investment performance, Olive reported record a net income of $1,106,501 or one cent per share.

Samuel Pelaez, the company's president, chief executive officer, chief information officer and director, stated: "The seasonal period between January and May is typically strong for the commodity complex. At Olive, we increased our exposure during Q4 2024 to capture this momentum. Fortunately, not only have commodities performed positively, they have generally outperformed their seasonality, with gold having risen more than 20 per cent in 2025. Our exposure to gold and precious metals sits just over 50 per cent, with this exposure having delivered returns in excess of the precious metals' benchmarks. This was the most important factor in the increase in value of Olive's investments during the period."

Derek Macpherson, executive chairman, stated: "The work that we have done over the last three years to increase Olive's balance sheet flexibility has allowed us to be more aggressive in allocating investment dollars to the high conviction names in our portfolio. This has put us in the ideal positions to potentially deliver significant returns in the current very positive gold environment and the strong broader commodity market that we anticipate in the next few years."

As of the date of this release Olive Resource Capital Inc. has 106,144,709 common shares outstanding.

Q1 2025 financial results summary

Operational summary

The company's net income totalled $1,106,501 for the three months ended March 31, 2025, with basic and diluted income per share of one cent. This compares with a net loss of $390,551, with basic and diluted loss per share of nil for the three months ended March 31, 2024.

The increase in income of $1,474,132 is primarily the result of the company's increase in unrealized gain on investments. The unrealized gain for the three months ended March 31, 2025, was $1,273,881, compared with an unrealized loss of $295,877 for the three months ended March 31, 2024.

Estimation of net asset value per share

NAV per share is a non-IFRS (international financial reporting standards) 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 IFRS and therefore may not be comparable with similar measures presented by other companies. There is no comparable IFRS financial measure presented in the company's consolidated financial statements and thus no applicable quantitative reconciliation for such non-IFRS 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. These data are furnished to provide additional information and do not have any standardized meaning prescribed by IFRS. Accordingly, the data should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS, and are not necessarily indicative of other metrics presented in accordance with IFRS. The 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.

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.