Mr. Reagan Glazier of Pacific Bay Minerals reports

PACIFIC BAY AND BRIXTON METALS AMEND ATLIN GOLDFIELDS OPTION AGREEMENT

Pacific Bay Minerals Ltd. and Brixton Metals Corp. have agreed to amend the terms of the definitive option agreement entered into by the parties on May 4, 2022, enabling Pacific Bay to acquire up to a 100-per-cent interest in the Atlin Goldfields property in Northern British Columbia. The amending agreement provides Pacific Bay additional time to complete the required first anniversary cash payment and work commitment, as outlined below.

Under the amendment, the $200,000 cash payment due May 4, 2023, may be paid by Pacific Bay on the earlier of July 10, 2023, or five days following the completion of a private placement financing by the company. The amendment also permits Pacific Bay to complete the required $500,000 in year one expenditures during the second year of the agreement. The one million Pacific Bay shares payable to Brixton under the agreement are to be issued forthwith. Pacific Bay will also forthwith file approximately $250,000 in Atlin expenditures to date as assessment work.

"Pacific Bay is very bullish about the Atlin Goldfields project and we appreciate the flexibility provided by Brixton to advance this exciting gold camp," said Reagan Glazier, president and chief executive officer of Pacific Bay. "We will shortly be updating investors about our financing plans and exploration strategy for Atlin."

We seek Safe Harbor.