Corporate Update

• Land Expansion: Makenita Resources has more than doubled its Serpentinization Iron-Magnetite Project in Saskatchewan from 23,517 to 51,304 contiguous acres.
• Strategic Proximity: The expanded land package directly borders Max Power Corp (CSE: MAXX).
• Investor Relations Agreements: Company entered into two new service agreements:
  • Dr. Reuter Resources GmbH for roadshows and digital IR at €6,000/month.
  • Mining.com.au for investor awareness activities at CAD $2,900-$3,900/month.
• Project Scope: The project is prospective for iron, magnetite, and potential naturally occurring hydrogen production via serpentinization.
• Share Structure: Company has just over 30 million shares outstanding.

• Price Reaction: The stock price rose from $0.12 to $0.17 between May 13 and May 14, indicating the market had already priced in the land expansion announced on May 13.
• Incremental Nature: The May 15 update confirms the May 13 announcement and adds administrative costs (IR contracts) rather than new revenue-generating milestones or assay results.
• Cost Burden: New IR agreements add approximately CAD $9,000-$12,000 per month in operating expenses to a company with limited cash reserves ($500k total raised recently).
• Speculative Risk: While doubling the land package is operationally significant for a micro-cap, it remains an unproven project without drill results or resource estimates provided in this release.
• Verdict: The news is positive but expected following the May 13 headline; the primary impact was already realized in the price action prior to this update.

• Flagship Project: Serpentinization Iron-Magnetite Project (Saskatchewan).
  • Current Size: 51,304 contiguous acres.
  • Target Commodities: Iron, Magnetite, Potential Hydrogen.
  • Status: Staking completed; exploration phase pending.
• Secondary Projects:
  • Sisson West Tungsten Project (New Brunswick): ~9,845 acres, adjacent to operating mine.
  • NTX Rare Earth Project (Quebec): ~9,000 acres.
  • Hector Property (Ontario): 5,542 acres (Cobalt, Silver, Diamonds).
• Management: Jason Gigliotti (President & CEO).
• Compliance: Qualified Person statements provided for technical disclosure (NI 43-101 compliant).