Item 1.01 Entry into a Material Definitive Agreement

On March 13, 2023, Verde Resources, Inc. (the "Company") and its indirect wholly-owned subsidiary Champmark Sdn Bhd ("CSM") entered into a Settlement of Debts Agreement (the "SDA Agreement") and a two year term period Promissory Note with CSM's creditor Borneo Oil Corporation Sdn Bhd (the "Creditor") to settle in full a total of USD 675,888 of CSM's account payable to the Creditor either in cash or by the issuance of new restricted shares of the Company's common stock at a price of $0.07 per share. As set out in the SDA Agreement, the new restricted shares for settlement of the account payable to the Creditor shall be issued to the Creditor or its nominee.

Item 9.01 Financial Statements and Exhibits

The Settlement of Debts Agreement and Promissory Note are attached hereto as Exhibit 10.






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