Mr. Brett Richards reports

PASOFINO GOLD ENGAGES INDEPENDENT TRADING GROUP TO PROVIDE MARKET MAKING SERVICES

Pasofino Gold Ltd. has engaged Independent Trading Group (ITG) Inc. to provide market-making services for the common shares in the capital of the company.

Pursuant to the engagement, the company and ITG have entered into a market-making services agreement, under which ITG will provide market-making services in accordance with Policy 3.4, Investor Relations, Promotional and Market-Making Activities, of the TSX Venture Exchange. These services include conducting trading activities with the objective of maintaining a reasonable market and improving the liquidity and trading quality of the common shares across the TSX-V and other trading venues.

The agreement became effective on May 14, 2025, prior to the approval of the TSX-V. It is still in effect as of the date hereof and will remain in effect subject to TSX-V approval. Under the agreement, ITG will receive a monthly compensation of $5,000, plus applicable taxes, payable by the company in advance and as of the date hereof, the company has paid ITG an aggregate of $17,857.14. The agreement is for an initial term of one-month and will automatically renew for additional one-month terms until terminated by either party with 30 days of notice. The agreement does not contain any performance-based compensation, and ITG will not receive any shares or options, or other securities of the company, as compensation. No indirect compensation is provided under the agreement. ITG is responsible for all costs it incurs in connection with the market-making services.

As of the date hereof, ITG and the company are unrelated and unaffiliated entities operating at arm's length, and as of the effective date of the agreement and the date hereof, neither ITG nor its principals hold, or have ever held, any interest, directly or indirectly, in the securities of the company.

ITG is a Toronto-based CIRO dealer-member that specializes in market-making, liquidity provision, agency execution, ultralow-latency connectivity and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high-quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

Chief executive officer Brett Richards commented: "Given the tightly held and thin liquidity of Pasofino stock, having ITG to manage any large gaps between the bid and ask allows for daily momentum to be held and share price momentum to be realized. We will discontinue this service once the stock picks up to normal trading dynamics as we look to progress the project through to an update feasibility study through the next several months."

About Pasofino Gold Ltd.

Pasofino is a Canadian-based mineral exploration company listed on the TSX Venture Exchange.

Pasofino, through its wholly owned subsidiary, owns 100 per cent of the Dugbe gold project (prior to the issuance of the government of Liberia's 10-per-cent carried interest).

We seek Safe Harbor.