Mr. David Brett reports

PACIFIC BAY PROVIDES BRAZIL PEREIRA VELHO PROJECT ACQUISITION UPDATE

Pacific Bay Minerals Ltd.'s proposed acquisition of the Pereira Velho project in Alagoas state, Brazil, as initially disclosed on Jan. 7, 2025, will not be proceeding. The vendor, Appian Capital Advisory LLP, has optioned the property to another buyer.

"Pacific Bay remains upbeat on Brazil and continues to look for quality gold properties to acquire in that country," said PBM president and chief executive officer David H. Brett. "We have assembled a highly skilled and experienced Brazil team and look forward to looking at new opportunities as they arise.

"The company is also pleased with renewed investment interest in BC's Critical Minerals sector, particularly in the northwestern part of the province," continued Mr. Brett. "PBM's 100-per-cent-owned Haskins-Reed critical minerals project along Highway 37 in northwest British Columbia positions the company well to leverage surging metal prices and regional focus."

The company also announces that the financing announced Sept. 25, 2025, will not be proceeding.

About Pacific Bay Minerals Ltd.

Pacific Bay's flagship 100-per-cent-owned Haskins-Reed critical minerals project in northwestern B.C. is one of the leading exploration projects in the Cassiar region.

The technical disclosures in this news release were reviewed and approved by David Bridge, PGeo, a qualified person, as defined by National Instrument 43-101.