Mr. Reagan Glazier reports

PACIFIC BAY WARRANT EXTENSION NOT PROCEEDING

Pacific Bay Minerals Ltd.'s proposed extension of warrants announced July 8, 2025, will not be proceeding. The company previously announced its intention to extend the expiry of 7,365,873 warrants that were issued July 20, 2022, pursuant to a non-brokered private placement financing, which extension was subject to TSX Venture Exchange approval. The 2022 warrants had an exercise price of 10 cents and expired on July 20, 2025. The TSX-V declined to approve the extension as the market price exceeded the strike price of the warrants at the relevant times.