Azarga Resources Limited, pursuant to which the Company may draw...

Azarga Resources Limited, pursuant to which the Company may draw down up to $2
million (“the Facility”). The Facility is repayable in cash at the Company’s election, at any time prior to maturity. On the
maturity date, being 24 months from the date of the first advance, any remaining portion of the loan will convert to shares at
$0.01 per share. The funds raised will be used for future exploration and development activities and to continue to invest in
""""Mineral Ablation LLC. At the date of this report Black Range has drawn down $1,750,000 of the facility.""""