Olive Resource Capital Provides Update on Investments

Toronto, Ontario--(Newsfile Corp. - May 5, 2025) - Olive Resource Capital Inc. (TSXV: OC) ("Olive" or the "Company") is pleased to announce that is has filed its audited year-end financial statements for the period ending December 31, 2024 and it is pleased to provide investors an update on its investments for the period ending April 2025.

Table 1: Olive's Significant Investments

1. For publicly listed investments traded on recognized exchanges, valuation is based on closing prices as of April 30, 2025. For private equity investments, valuation is per the most recent financial statements, December 31, 2024. For Convertible Debentures, valuation is per the most recent financial statements, December 31, 2024, adjusted for interest accruals and convertibility value.
2. Derek Macpherson, Executive Chairman of Olive Resource Capital is a Director of this issuer.
3. Olive defines Liquid Investments as investments whose position can be liquidated in less than one day's average trading volume for that security. This measure also includes cash and adjustments for current assets and current liabilities.
4. The increase in value for April 30, 2025 is primarily as a result of stock price appreciation of the investments.

As of the date of this release Olive Resource Capital Inc. has 106,144,709 common shares outstanding.

Samuel Pelaez, the Company's President, CEO, CIO, and Director stated: "Commodity prices rose strongly during the first months of 2025. Gold rose to fresh all-time highs and copper advanced ~15%. Oil was an outlier, with prices declining ~20%. The seasonal period between January and May is typically strong for the commodity complex. As for the equities, their performance was correlated to the commodities, except for gold equities which significantly outperformed the commodity. This was the most important factor in the increase in value of Olive's investments during the period. At Olive, we remain well deployed into both the larger and the junior resource space, and have continued to reallocate capital into fewer, higher conviction names."

Annual Audited Financials Statements for FY 2024 Released

Operational Summary

The Company's net loss totaled $542,053 for the year ended December 31, 2024, with basic and diluted loss per share of $0.00. This compares with a net income of $630,620 with basic and diluted income per share of $0.01 for the year ended December 31, 2023.

The loss is primarily the result of the Company's lower unrealized gain on investments for the year ended December 31, 2024 as compared to the previous year. As of December 31, 2024, the Company's entire investment portfolio had an estimated fair market value of $6,243,328 (cost $9,377,321). Once adjusted for working capital, the Company's Total Shareholder Equity was $6,381,842.

Estimation of Net Asset Value per Share

Net asset value per share ("NAV") is a non-IFRS financial measure. NAV is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to IFRS and therefore may not be comparable to similar measures presented by other companies. There is no comparable IFRS financial measure presented in the Company's consolidated financial statements and thus no applicable quantitative reconciliation for such non-IFRS financial measure. The Company believes that the measure provides information useful to its shareholders in understanding the Company's performance and may assist in the evaluation of the Company's business relative to that of its peers. This data is furnished to provide additional information and does not have any standardized meaning prescribed by IFRS. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and is not necessarily indicative of other metrics presented in accordance with IFRS. The existing NAV of the Company is not necessarily predictive of the Company's future performance or the NAV of the Company as at any future date.

The primary reason for the discrepancy in NAV reported in the annual financials and that in the Company's press release dated January 10, 2025, relates to a revaluation of the Senior Unsecured Convertible Debentures of Guided Therapeutics, Inc. ("Guided") with a principal value of USD$250,000. The debentures are past due, and while the Company is working with Guided to recoup full value, the investment value has been reduced to reflect the current value of the shares that would be received if the debenture was converted.

Update on Future Monthly NAV Disclosure

In response to feedback received from regulatory reviews and to match evolving best practices for issuers such as Olive, the Company will no longer be publishing its NAV monthly. Olive plans to continue providing updates on its investments on a regular basis and will provide NAV updates as part of its quarterly and annual financial disclosure.

The Company plans to release its Q1 2025 financials, and NAV for March 31, 2025, at the end of May 2025.

About Olive Resource Capital Inc.:

Olive is a resource-focused merchant bank and investment company with a portfolio of publicly listed and private securities. The Company's assets consist primarily of investments in natural resource companies in all stages of development.

For further information, please contact:

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way approved nor disapproved the information contained herein.

Cautionary Note Regarding Forward-Looking Statements: This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should", "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.

This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Olive to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking, including, without limitation, statements concerning Olive's intended future disclosure practices. Although Olive believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: past success or achievement does not guarantee future success; negative investment performance; downward market fluctuations; downward fluctuations in commodity prices and changes in the prices of commodities in general; uncertainties relating to the availability and costs of financing needed in the future; interest rate and exchange rate fluctuations; changes in economic and political conditions that could negatively affect certain commodity prices; and those risks set out in the Company's public documents filed on SEDAR+. Accordingly, readers should not place undue reliance on forward-looking information. Olive does not undertake to update any forward-looking information except in accordance with applicable securities laws.

This commentary is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. The information provided in this recording has been obtained from sources believed to be reliable and is believed to be accurate at the time of publishing but we do not represent that it is accurate or complete and it should not be relied upon as such.

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