Mr. Jon Harris reports

REVISED DISCLOSURE ON MANAGEMENT CEASE TRADE ORDER

On May 8, 2025, Pambili Natural Resources Corp. was granted a management cease trade order, following its inability to file its audited annual financial statements, management's discussion and analysis, and related chief executive officer and chief financial officer certifications for the financial year ended Dec. 31, 2024, by the filing deadline of April 30, 2025, and, as a result, is in default of its obligations under Part 4 of National Instrument 51-102 (Continuous Disclosure Obligations).

The company wishes to provide an update regarding the status of its audit and the anticipated filing of the required filings and the interim financial statements for the three-month period ended March 31, 2025.

At this time, the audit of the required filings has not formally commenced. While the company has completed its internal preparation and assembled preliminary financial reports, no audit procedures have been initiated by the external auditor due to a delay in securing the required financing to proceed.

The recent capital raise (announced on April 7, 2025), while helpful, was not sufficient to cover both an urgent, non-deferrable interest payment and the initial financial obligations required by the auditor. Originally, the company intended to make a partial deposit to initiate the audit process; however, the auditor has since revised its terms and now requires full payment up front before beginning audit work. This change in payment structure, combined with competing financial obligations, has resulted in a further delay.

The company is actively pursuing additional financing and continues to prioritize securing the necessary funds to satisfy the auditor's upfront fee requirements. Upon confirmation of available financing, the company will co-ordinate with the auditor to finalize a commencement date. Based on discussions with the auditor, the audit is expected to be completed within approximately 30 days of commencement.

As a result of the above, the company anticipates filing:

• The required filings by Aug. 31, 2025;
• The interim filings by Sept. 5, 2025.

The company remains committed to completing its financial reporting obligations as soon as reasonably possible and will provide further updates as new information becomes available.

The company confirms that since the date of the announcement: (i) there has been no material change to the information set out in the announcement that has not been generally disclosed; (ii) the company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under National Policy 12-203 (Management Cease Trade Orders) and issue biweekly default status reports for so long as the delay in filing the required filings is continuing, each of which will be issued in the form of a news release; (iii) there has not been any other specified default by the company under NP 12-203; (iv) the company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the company that has not been generally disclosed.

About Pambili Natural Resources Corp.

Pambili is a natural resource exploration and development company currently active in Zimbabwe.

We seek Safe Harbor.