Tantalex Lithium Resources Corp. has amended a loan agreement entered with Trade Cloud Services PTE Ltd. of a principal amount of USD 3,000,000. The Loan has been amended in order to extend the maturity date to January 31, 2024 as the early repayment date and March 31, 2024 as the late repayment date.

A service fee of 4% will be added on the principal which is online with the gross fee provided by the Board Lubumbashi sales price which will be based on the first one thousand eight hundred (1,800) dry metric tonnes of tin concentrates produced by the Lubule project, an increase of six hundred (600) dry metric tonnes from the original Loan Agreement. The amendment to the Loan Agreement is a "related party transaction" as defined under MI 61-101, as Mr. Matthew Botell, director of the Corporation is a principal of Trade Cloud. However, such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value and the consideration for the Loan, would not exceed 25% of the Corporation's market capitalization.

The Corporation did not file a material change report in respect of the related party transaction at least 21 days prior to the closing of the amendments, which the Corporation deems reasonable in the circumstances to close the amendments to the Loan Agreement in an expeditious manner.