Mr. Matthew Wilcox reports

ROBEX ANNOUNCES AMENDMENTS TO SPROTT FACILITY AGREEMENT

Robex Resources Inc. has provided an update on its $130-million (U.S.) senior secured facility with Sprott Resource Lending, which underpins the development of the Kiniero gold project in Guinea.

Facility background

On March 17, 2025, the company closed a $130-million (U.S.) senior facility agreement (SFA) with Sprott, as agent and lead arranger. Following satisfaction of initial conditions precedent, Robex completed its first $25-million (U.S.) drawdown on March 19, 2025, providing financing for the construction of the Kiniero project.

Amendments to Sprott facility agreement

Robex and Sprott have agreed to amendments to the SFA. Under the revised terms, Robex now has access to $90-million (U.S.) of the remaining $105-million (U.S.) facility without requiring the Mansounia exploitation permits or mining convention. This includes an immediate $30-million (U.S.) draw down and $60-million (U.S.) held in a debt proceeds account, subject to standard release conditions.

The final $15-million (U.S.) will also be held in the debt proceeds account and will remain contingent on receipt of the Mansounia exploitation permits and mining convention, available until the earlier of their receipt or Dec. 31, 2026, after which the funds will be returned to Sprott unless otherwise permitted. Further, the term of the SFA will be reduced from March 31, 2030, to March 31, 2029, if the Mansounia exploitation permits are not granted before March 31, 2029.

As part of the amended SFA terms, Robex will establish a liquidity coverage account (LCA). The LCA is to be financed up to $65-million (U.S.), through:

• Warrant proceeds exceeding $11-million (U.S.) up to a maximum deposit of $55-million (U.S.);
• 40 per cent of excess cash flow, starting from Sept. 30, 2026, until the account reaches the target balance.

Importantly, the balance of the LCA is available to Robex once the Mansounia exploitation permit and mining convention is obtained.

Robex's managing director and chief executive officer, Matt Wilcox, commented:

"The amended facility terms with Sprott represent a significant milestone for Robex, providing enhanced funding flexibility to advance the development of the Kiniero gold project. The ability to access a substantial portion of the facility without the immediate requirement for the Mansounia permits reflects the strength of our relationship with Sprott and their continued confidence in our team and project. We remain focused on delivering value for our shareholders as we progress toward first gold pour in December, 2025."

We seek Safe Harbor.