Calgary, Canada - TheNewswire - Dec. 15, 2023 - Pambili Natural Resources Corporation (“Pambili” or the “Company”) (TSX-V:PNN) is pleased to announce its interpretation of the results of a drone survey completed over its recently acquired Golden Valley Project in Zimbabwe’s Matabeleland province. This acquisition, previously announced on 23 November 2023, is still subject to approval from the TSX-V.

Pambili contracted Precision Drone Services to fly the survey at a 50-meter line spacing, collecting geophysical magnetic data. A contract consultant geophysicist then used the processed data to compile a structural interpretation for the Project highlighting several potential West-North-West-trending trends parallel to historical workings.

These trends traverse the tenement along more than one kilometer, suggesting a potentially significant extension to Golden Valley’s known strike length.

Pambili also collected detailed orthorectified photography and a Digital Terrain Model (“DTM”) from which 50cm height-spaced contours have been derived. Mapped artisanal eluvial and alluvial workings plotted on the DTM indicate gold is being shed from new potential target areas other than the known historical mine workings.

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Figure 1 – Historical mine workings overlaid on Pambili’s structural interpretation at Golden Valley

The potential for an additional structure that has not previously been exploited for gold and an extension to the known project strike length add to Golden Valley’s gold exploration potential. Pambili will investigate the new target areas as part of its ongoing gold exploration efforts at the Property.

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Figure 2 – Drone equipment used by Precision Drone Services to complete its survey at Golden Valley

Jon Harris, Chief Executive Officer of Pambili Natural Resources, commented:

“We were keen to begin work on the ground as soon as we could at Golden Valley, and the drone survey we’ve announced today was one of the key initial work streams we completed while we were completing our acquisition of the Project.

Our interpretation of the results further builds on our strategic belief that the full gold potential of Zimbabwe’s known gold deposits has never been fully realized owing to a lack of modern-day exploration techniques.

We look forward to following up on our new target areas we’ve interpreted at Golden Valley as part of our planned exploration efforts over the coming months.”

The Golden Valley Project

Pambili believes that Golden Valley Project, like many similar projects, has been underexplored and has the potential to host a bulk mineable gold deposit. The Project has a history of high-grade underground mining with recorded historic gold production and includes a gold processing plant, a stamp mill, and two historic adits.

Pambili acquired the Golden Valley Project in November 2023 and has commenced exploration of the Project’s underground and near-surface potential. The Company plans to recommence mining next year, and is preparing for a comprehensive phase of underground drilling.

Pambili’s independent geologist, Gayle Hanssen BSc. (Hons.) Geology, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

About Pambili Natural Resources Corporation: Pambili Natural Resources Corporation is a natural resources exploration and development company (www.pambilinrc.com) currently active in Zimbabwe and in the Canadian province of Alberta.

For further information, contact:

Pambili Natural Resources Corporation

Jon Harris (CEO)

T: 403 277 4421

E: jon.harris@pambilinrc.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Information Forward-looking statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often, but not always, identified by words such as “believes”, “may”, “likely”, “plans”, or similar words. Forward- looking statements included in this news release include statements with respect to work to be done on the Happy Valley mine in Zimbabwe. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to the impact of general economic conditions, industry conditions, currency fluctuations, and dependence upon regulatory approvals. The Corporation does not assume any obligation to update the forward-looking statements to reflect changes in assumptions or circumstances other than as required by applicable law.

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