Mr. Jon Harris reports

PAMBILI CONVERTS US$250,000 LOAN TO EQUITY, MAKING KAVANGO RESOURCES PLC A KEY STRATEGIC INVESTOR

Kavango Resources PLC has given notice that it wishes to convert the $250,000 (U.S.) convertible loan previously announced on Aug. 31, 2023, into common shares in Pambili Natural Resources Corp.

After giving effect to the exchange rate, the loan ($342,500) will be settled through the issuance of 6,227,270 Pambili common shares at 5.5 cents per common share. After giving effect to the settlement, Kavango will own approximately 19.35 per cent of the enlarged share capital of Pambili and will become an insider of the corporation.

Kavango is a mineral exploration company listed on the London Stock Exchange with projects in Zimbabwe and Botswana.

The proposed settlement is subject to final approval by the TSX Venture Exchange and the common shares issued under the settlement will be subject to a statutory four-month hold period.

Following approval of the settlement, the loan premium of $75,000 (U.S.) will remain outstanding and will be convertible into common shares in the corporation on the same basis as the original loan.

Pambili chief executive officer Jon Harris commented: "We are pleased to be able convert the loan, which confirms Kavango's position as a key strategic investor and associate for Pambili as it develops its gold projects in Zimbabwe. Kavango and Pambili both believe in the immense modern production potential of the underexplored and underdeveloped gold belts in the country."

Kavango CEO Ben Turney commented: "Since we first announced our intention to convert our loan into shares in Pambili, Kavango has continued to work closely with Pambili. Our two companies have formed a close working partnership, and I remain confident we will both benefit from the mutual support we can offer one another."

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.