Mr. Christian Timmins reports

PEGASUS RESOURCES SAMPLES 7800PPM URANIUM AT ENERGY SANDS UTAH

Pegasus Resources Inc. has successfully completed a comprehensive geological mapping and sampling program on its past-producing Energy Sands property in Utah. For this initiative, the company collaborated with Dahrouge Geological Consulting USA Ltd. to conduct a thorough assessment, significantly enhancing the company's understanding of the property's potential.

"The significant 7,800-part-per-million reading on sample ESRS24-037 is an exciting confirmation of promising mineralization at our Energy Sands property in Utah," stated Christian Timmins, chief executive officer of Pegasus. "This result boosts our confidence in its strategic value, and we look forward to the detailed analysis from SGS. This analysis will guide informed decisions and strategic advancements in our exploration efforts at Energy Sands."

A total of 41 samples were diligently collected over the 13-day program and have been submitted to SGS Laboratories Services for further detailed analysis. Utilizing the RS-125 hand-held spectrometer, Pegasus identified notable samples from prospector outcrops, tailings, outcrops and historical adits. ESRS24-037 displayed a remarkable 7,800-part-per-million reading, indicating substantial mineralization. Completing the geological mapping and sampling program is crucial in advancing Pegasus's exploration efforts. It provides valuable insights into the mineral-rich potential of the Energy Sands property. The company remains committed to leveraging these data for informed decision making as it continues to pursue sustainable resource development.

Notes: Please note that the RS-125 spectrometer does not have the highest degree of precision, so these values should be taken as indicators, not absolutes. A historical report archived by the U.S. Geological Survey (USGS) outlines small-scale production of uranium by the Minerals Corp. of America, totalling 51.8 tonnes at a grade of 0.373 per cent U3O8 (triuranium octoxide) and 1.10 per cent V2O5 (vanadium pentoxide) occurred between 1953 and 1956 (Byers and Robertson, 1956).

National Instrument 43-101 disclosure

The technical content of this news release has been reviewed and approved by Jacob Anderson, CPG, MAusIMM, who is a resource geologist for Dahrouge Geological Consulting USA Ltd. and a qualified person under NI 43-101 who has prepared and/or reviewed the content of this press release.

About Pegasus Resources Inc.

Pegasus Resources is a diversified junior Canadian mineral exploration company with a primary focus on uranium, with exposure to gold and base metal properties in North America.

The company is also actively pursuing the right opportunity in other resources to enhance shareholder value.

We seek Safe Harbor.