Pambili Natural Resources Corporation announced that it has secured a CAD 50,000 credit facility (the "Facility") through a loan agreement with Mr. Welcome Sandawana, an arm's-length lender ("Lender") based in Johannesburg, South Africa. The proceeds of the Facility will be used by the Corporation for general working capital purposes. The Corporation will avail of the Facility by way of separate loan drawdowns (Tranches), with the minimum Tranche being CAD 5,000 (five thousand Canadian Dollars).

The cumulative total of the Tranches at any time will constitute the "Loan." The Loan bears annual interest at a rate of 2% above Canadian prime (expressly not compounded) and together, with accrued and unpaid interest, is due for payment on Dec. 31, 2023. Pambili will also pay a Loan Bonus to the Lender based on 20% of the Facility by way of common shares in the Corporation ("Bonus Shares").

The specific number of Bonus Shares issued from time to time will be calculated as 20% of the dollar amount of each Tranche divided by the market price of the Corporation's common shares on the date of the news release announcing the drawdown of such Tranche. The Facility is available to Pambili until Dec. 31, 2022, after which no further Tranches will be available.