Mr. Robert Klenk reports

JZR GOLD ENTERS INTO LOAN AGREEMENT

JZR Gold Inc. has entered into a loan agreement with Eco Mining Oil & Gaz Drilling and Exploration Ltda. dated Sept. 30, 2024, pursuant to which the company agreed to lend to Eco up to $2-million (U.S.). The loan, which bears no interest, is to be advanced to Eco in tranches upon request by Eco. Pursuant to the terms of the loan, the company shall have no obligation to advance or make available any funds to Eco, and any funds so advanced shall be at the sole discretion of the company. As of the date of the loan agreement, the company had previously advanced the sum of $1.8-million (U.S.) to Eco, which amount forms part of the loan. Eco may pay back any amount outstanding under the loan at any time without penalty.

The company possesses a right to receive a 50-per-cent net profit interest in gold produced from the Vila Nova gold project located in the state of Amapa, Brazil. The project is currently being developed by Eco as the operator. Eco commissioned the manufacture and installation of a gravimetric mill for the project, which mill has been assembled and is being tested. The company has advised that Eco requested financial assistance from the company to advance, acquire and assemble the mill and to further advance the project. Management of the company has determined that it is in the best interest of the company to advance funds to Eco to enable Eco to acquire the mill, bring it into operation and further advance the project, and has agreed to advance funds under the loan to Eco specifically for the foregoing purposes.

As security for the loan, Eco has pledged to the company the mill and certain rights of Eco pursuant to an agreement between Eco and the Cooperative dos Garimpeiros do Vila Nova.

The company is at arm's length with Eco and is not a related party of the company within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The loan is subject to acceptance of the TSX Venture Exchange.

We seek Safe Harbor.