Galore Resources Inc. provided an update to the current activities at Galore's 100% owned Duraznillo Ranch, Los Gemlos and Duende 7 claims (collectively, the "Duraznillo Project"). On April 11, 2022, Galore announced that it had entered into an Exploitation Agreement between Oztoc Metal Corporation S. de R.L. de C.V. ("Urbyasa") in 2018 at the Duraznillo Project. As previously announced, due to their obvious lack of adherence to the original contract, relations with Urbyasa had subsequently been terminated and they were legally removed from the Duraznillo Project site in March of 2022.

On September 22, 2022 Galore reported that Oztoc's team had been evaluating and remediating theDuraznillo Project site. Oztoc had gone through every piece of mechanical equipment that remained on location, invested significant capital in repairs and purchased a great deal of replacement equipment. After conducting several processing trials, Oztoc determined that in order to achieve better production levels, a new and much improved processing system needed to be installed.

Oztoc then initiated the purchase of this equipment out of Peru and had been awaiting its arrival to begin operations. This equipment arrived in early January, 2023 and was moved to a warehouse in Monterrey, Mexico. Galore was later informed of this equipment going offsite due to some problems encountered with the past Urbyasa group and concerns for their safety.

This interference created caution in Oztoc investing the additional money that was necessary to move this mine to productivity. For the past few months this has resulted in the Duraznillo Project being an on again and off again enterprise, which has now resulted in Galore requesting Oztoc to rescind the Exploitation Agreement. Galore is of the position that Oztoc has not lived up to its responsibilities set out under the Exploitation Agreement.

Discussions are still ongoing and anticipate an amicable solution in the coming weeks.