Pambili and Kavango Resources Plc cement strategic partnership in Zimbabwe with US$310,000 loan to equity conversion

Pambili receives final TSXV approval for its acquisition of the Golden Valley Mine

CEO Jon Harris: PNN can now move forward on 'consolidating underperforming gold mines starved of the capital required to develop their full potential'

CALGARY, Canada (July 2, 2024)-Pambili Natural Resources Corporation ("Pambili" or the "Company") (TSX-V: PNN) is pleased to confirm that the Company's Share Purchase Agreement (the "Transaction") with White Satin Investments (Private) Limited ("White Satin") for the acquisition of the Golden Valley Gold Mine ("GVM") near Bulawayo, Zimbabwe has received Final Approval by the TSX Venture Exchange ("TSXV").

As stated in Pambili's news release dated June 20, 2024, the Transaction is at arm's length for purposes of the policies of the TSXV. As announced on March 5, 2024, the TSXX deemed the transaction to be a Reviewable Transaction pursuant to Policy 5.3 (Acquisitions and Dispositions of Non-Cash Assets) of the TSXV's Corporate Finance Manual.

Having satisfied the requirements of that review, which included the approval of the Company's updated NI 43-101 Technical Report (available on SEDAR and Pambili's website), the TSXV has granted Final Acceptance of the Transaction.

Jon Harris, Chief Executive Officer of Pambili, commented:

"The Final Acceptance of the Transaction by the TSXV confirms that the Company has complied with the exchange requirements. More importantly, it also provides us with a secure platform from which to develop our strategy of consolidating underperforming gold mines starved of the capital required to develop their full potential.

We expect to announce further such acquisitions in due course."

For further details on the Transaction, please refer to our news release dated June 20, 2024.

View or download this news release in PDF format.