Mr. Jorge Martinez reports

SHELLRON TERMINATES TRANSACTION WITH SPX MANAGEMENT LTD.

Shellron Capital Ltd. has terminated the proposed transaction with SPX Management Ltd.

Shellron will continue to seek a qualifying transaction in accordance with the policies of the TSX Venture Exchange and will provide further updates in due course. Shellron intends to target transactions in the mining sector and invites interested parties to submit a proposal to its board.

No deposit or cash advance was made by Shellron to SPX in connection with the transaction.

Trading in the common shares of Shellron was halted as of April 14, 2025, in connection with the execution of a letter agreement with SPX. Shellron will seek to resume trading as soon as possible.

We seek Safe Harbor.