Mr. Reagan Glazier reports

PACIFIC BAY MINERALS LTD. ANNOUNCES $2 MILLION PRIVATE PLACEMENT TO ADVANCE PEREIRA-VELHO GOLD PROJECT IN BRAZIL

Pacific Bay Minerals Ltd. has arranged a non-brokered private placement of up to 20 million units at a price of 10 cents per unit for gross proceeds of up to $2-million.

Each unit will consist of one common share and one common share purchase warrant. Each warrant will be exercisable to acquire one additional common share at a price of 15 cents per share for a period of 24 months from the date of issuance. The company shall have the right to accelerate the expiry of the warrants if the volume-weighted average trading price of the company's common shares on the TSX Venture Exchange equals or exceeds 25 cents for 20 consecutive trading days.

The company may pay finders' fees to eligible parties consisting of 7 per cent cash and 7 per cent finders' warrants on completed subscriptions, in accordance with the policies of the TSX Venture Exchange.

The offering is expected to close on or about July 17, 2025, and is subject to regulatory approvals including the acceptance of the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a four-month-and-one-day hold period under applicable Canadian securities laws.

Use of proceeds

Net proceeds from the offering will primarily be used to complete the acquisition of the Pereira-Velho gold project in Alagoas state, Brazil, and to finance early stage exploration. Remaining funds may support exploration on the company's Canadian assets and general corporate activities.

Insider participation

Certain insiders of the company may participate in the offering. Any such participation would be considered a related party transaction under TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company intends to rely on available exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101.

Pacific Bay is pleased to announce that Elton Pereira, formerly vice-president, exploration, has transitioned to the role of country manager, Brazil. This change reflects the company's strategic focus on advancing the Pereira-Velho gold project and better aligns with Mr. Pereira's operational leadership and local expertise in Brazil.

About Pacific Bay Minerals Ltd.

Pacific Bay Minerals is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mining projects. The company is currently focused on advancing its Pereira-Velho gold project in Brazil and holds 100-per-cent-owned properties in British Columbia.

We seek Safe Harbor.