Pambili Natural Resources Corporation announced that it has received the first assays of samples taken during the recent reverse circulation ("RC") drilling program at the Happy Valley Mine ("HVM") in Zimbabwe. An outline of the program was set out in the NI 43-101 Technical Report on the Happy Valley Mine, dated March 30, 2022 ("Report"). The Report, which is available on SEDAR and the Corporation's website, was prepared by independent geologist Gayle Hanssen BSc.

Geology (Hons), a qualified person as defined by Canadian National Instrument 43-101, who has reviewed and approved the technical information contained in this news release. Some 1,100m of RC drilling was completed at HVM by KW Blasting Ltd., a subsidiary of Drilling Resources (Zimbabwe) Limited, with chip samples from each metre being assayed by Antech Laboratories ("Antech"), a SADCAS Accredited Testing Laboratory in Kwekwe. To conform with recognized protocols, 10% of all samples submitted to Antech were for QA/QC purposes.

Certified standards (1.61g/t Au and 4.8g/t Au) were procured from African Mineral Standards in South Africa, and all samples collected at the rig were duplicated. Blank samples (material known not to contain gold) were also submitted to Antech, and every 10 samples submitted included either a certified standard, a duplicate or a blank. The most westerly drill line provided two ore-grade intercepts over the main reef: Hole 1: 1.25g/t over 8m; or if using a cut-off of 1g/t Au, 2.98g/t over 3m; Hole 2: 3.98g/t over a drilled width of 7m, using a cut-off of 1g/t Au.

There are at least two lower grade parallels intercepted to the south. The assay results for the lines further east are incomplete at this stage. These results are consistent with geophysical anomalies and characteristics of economic occurrences of gold deposits.

Interpretation and modelling of the ore body will be completed once the remaining assay results and geology are analyzed.