Material Agreement, Termination of Material Agreement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.

On October 6, 2025, the Golkor Inc. ("Company") entered into a joint venture with Afrikor Metal Industries Proprietary Limited ("AMI"), a South African company whereby AMI contributed certain mining and mineral recovery rights in South Africa (the "AMI Project") to a newly created limited liability, Golkor AMI-EBM LLC, owned 51% by the Company and 49% by AMI. The purpose of the joint venture is to the reclamation and re-processing of economically valuable minerals from historic surface deposits-specifically zinc, lead, silver, iron, and copper, -while also addressing environmental rehabilitation. The Company has committed to providing up to $20 million in funding to finance the operations. To date the Company has provided the JV with approximately $700,000 in funding.

The AMI Project is centred on a 266-hectare site that hosts a multi-metal tailings reprocessing facility and over 5.65 million tonnes of historical base metal tailings. These tailings were deposited by multiple legacy mining operations over 70 years and contain concentrations of zinc, lead, silver and copper. The site is fully permitted for production and was most recently operated by Glencore (2021-2023) to process cobalt and uranium. It is currently maintained in "warm shutdown" with critical equipment tested monthly and a care-and-maintenance crew in place.

The AMI site is fully permitted for reprocessing tailings and producing concentrates (silver, zinc, lead, copper, cobalt, uranium, lithium, vanadium)). All required environmental, water use, discharge, and waste permits are in place. The site includes its own 45 MW power substation, on-site water supply, paved roads, rail access, weighbridges, and secure fenced infrastructure.

Anthony Bainbridge, a director of the Company, owns a controlling interest in AMI and would receive approximately 80% of the distributions received by AMI. Prior to becoming a director of the Company, Mr. Bainbridge had begun the process of purchasing the AMI Project. After joining the Company he offered the Company the opportunity to become the majority holder.

This description of the agreement is qualified in its entirety by reference to the full text of the agreement as contained in Exhibit 10.1 to this Form 8-K.

Item 1.02 Termination of a Material Definitive Agreement.

Golkor and Konik Capital Partners, LLC, a division of T.R. Winston and Company ("Konik Capital") have terminated their previously announced engagement agreement that gave Konik Capital the right to act as lead manager, bookrunner and underwriter on an exclusive, firm commitment basis for one or more proposed public offerings of up to $40,000,000.