Mr. Anthony Lau reports

REMINGTON RESOURCES INC. ANNOUNCES RESUMPTION OF TRADING AND PROVIDES LOAN DISCLOSURE

Trading in Remington Resources Inc.'s common shares on the TSX Venture Exchange will resume trading shortly. Trading in the company's common shares had previously been halted in connection with the proposed transaction with DRNK Beverage Corp.

Resumption of trading

The company will continue to work with the exchange and provide further updates as required. The company announces that it is in non-compliance with the NEX policy, Section 2.2(c), having fewer than 150 public shareholders. The company anticipates that, following resumption of trading, increased trading activity will naturally broaden its shareholder base.

Loans from Alternate Investment Capital Inc.:

• In connection with a previously contemplated business combination transaction with DRNK Beverage, an affiliate of Alternate Investment Capital, DRNK made loans to the company in the aggregate amount of $114,744.23, as follows:
  • $15,000, advanced April 24, 2023, non-interest bearing, due April 24, 2024;
  • $89,744.23, advanced June 20, 2024, for legal fees, non-interest bearing, due June 20, 2025; and
  • $10,000, advanced March 13, 2025, bearing interest at 15 per cent per annum, due March 13, 2026.

The DRNK loans are unsecured and did not involve the issuance of any securities of the company. The DRNK loans are considered to be at arm's length. The company is in discussions with Alternate Investment regarding repayment of the DRNK loans, including a potential reduction in the amount owing and a revised repayment schedule, and anticipates providing a further update to the market within approximately four months.

Loans from third parties

The company has also received loans from third parties in the aggregate amount of $116,000, as follows:

• $75,000, advanced March 11, 2026, from an arm's-length party, bearing interest at 15 per cent per annum, due March 11, 2027;
• $21,000, advanced Aug. 2, 2024, from an arm's-length party, bearing interest at 15 per cent per annum, due Aug. 2, 2025 (matured and currently due on demand); and
• $5,000, advanced March 7, 2024, from an arm's-length party, non-interest bearing, provided as a short-term advance with no formal written loan agreement;
• $15,000, advanced March 22, 2024, from an arm's-length party, bearing interest at 15 per cent per annum, due March 22, 2025 (matured and currently due on demand).

The third party loans are unsecured and did not involve the issuance of any securities of the company. The company is in discussions with the lenders under the matured third party loans regarding repayment, including a potential reduction in the amounts owing and an extended repayment timeline, and anticipates providing a further update to the market within approximately four months.