Mr. Jon Harris reports

EXTENSION OF MANAGEMENT CEASE TRADE ORDER

Further to Pambili Natural Resources Corp.'s news release dated May 31, 2023, the management cease trade order (MCTO) issued by the Alberta Securities Commission (ASC) on May 5, 2023, remains in effect.

Although the public can continue to trade in the company's listed securities while the MCTO is in place, the CEO (chief executive officer) and CFO (chief financial officer) of the company are prohibited from trading in shares until such time as Pambili has filed the following continuous disclosure documents:

• The company's annual audited financial statements for the year ended Dec. 31, 2022, as required by Section 4.2 of National Instrument 51-102 -- Continuous Disclosure Obligations;
• The company's management discussion analysis for the year ended Dec. 31, 2022, as required by Section 5.1(2) of NI 51-102.
• CEO and CFO certificates relating to the audited annual financial statements, as required by NI 51-102.

The principal reason for the delay remains the inability of the company's external auditors to complete the audit for the financial year ended Dec. 31, 2022, partly because of the late receipt of certain information from Zimbabwe and because of the delay in payment of their fees which have now been settled. Pambili continues to work with its auditors to resolve any remaining issues and expects that the documents will be filed by June 29, 2023, and that the interim Q1 financial statements will be filed by June 30, 2023.

During this period of default, the company will continue to satisfy the provisions of the alternative information guidelines as required by National Policy 12-203 =- Management Cease Trade Orders.

Pambili confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on Nov. 29, 2022, of the company's latest interim financial reports for the period ended Sept. 30, 2022.

About Pambili Natural Resources Corp.

Pambili Natural Resources is a natural resources exploration and development company currently active in Zimbabwe and in the province of Alberta.

We seek Safe Harbor.