Mr. Kelly Abbott reports

PEGMATITE ONE COMPLETES CHANNEL SAMPLING AT FRAZER MOUND LAKE AND RESUBMITS SAMPLES FOR OVERLIMIT TESTING

Pegmatite One Lithium and Gold Corp. has completed its initial channel sample on the Frazer Lake Mound project's new spodumene-bearing pegmatite discovery named the Islander dike, 95 kilometres north-northeast of Thunder Bay, Northwestern Ontario, Canada.

Pegmatite One is further pleased to report samples that had previously returned overlimit assay values greater than 2.5 per cent lithium oxide (sodium peroxide fusion) are currently receiving additional higher-grade testing (sodium peroxide fusion with inductively coupled plasma atomic emission spectroscopy finish) procedures to determine true assay values. The company eagerly anticipates assay results.

Channel sampling has been completed to evaluate the average grade and compositional consistency over the width of the newly discovered spodumene-bearing pegmatite dike.

Kelly Abbott, chief executive officer of Pegmatite One, stated: "We're excited to announce the completion of our first channel sample on the Frazer Lake Mound project. This is a significant step in our exploration efforts, and we eagerly await the overlimit test results. These initial results provide valuable insights into the composition and potential of this newly discovered spodumene-bearing pegmatite."

Quality assurance/quality control procedures

Channel samples were collected as one-metre-long samples, approximately five centimetres wide and 10 to 15 cm deep, cut from bedrock. The samples were photographed in situ, georeferenced with a hand-held Garmin GPS, logged in detail and photographed in high resolution at the Planet X Exploration Services Ltd. core shack located in Nipigon, Ont. The samples were labelled with a sample tag, placed in sealed bags using best practices and were delivered to ALS Laboratories in Thunder Bay, Ont. (ISO/IEC 17025:2017). The initial batch of samples was analyzed by sodium peroxide fusion (ME-MS89L). Two standards (OREAS 750 and OREAS 999) and two blanks were submitted with the shipment to supplement the labs internal controls. Samples which have returned overlimit assay results will be further tested using sodium peroxide fusion with ICP-AES finish (ME-ICP82b).

Pegmatite One remains committed to responsible and professional exploration best practices and the diligent advancement of its mineral assets. The company looks forward to the results of this channel sampling program, as it works to unlock the full potential of the Frazer Lake Mound project.

Technical information in this news release has been reviewed and approved by Mark Smyk, PGeo, a qualified person as defined under Canadian National Instrument 43-101.

About Pegmatite One Lithium and Gold Corp.

Pegmatite One, a listed entity on the Canadian Securities Exchange, focuses its exploration efforts on lithium and gold resources. With a steadfast commitment to responsible mining practices, it operates three strategically positioned mineral exploration properties. Notably, the company's flagship asset is the Frazer Lake Mound property in Northwestern Ontario, projected to play a significant role in the global shift toward electric vehicles and sustainable technologies. Another cornerstone of its portfolio is the Georgina property, a promising gold prospect on Vancouver Island, British Columbia. Through its dynamic approach, Pegmatite One aims to create enduring value for both its shareholders and stakeholders.

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