Mr. Kelly Abbott reports

PEGMATITE ONE LITHIUM AND GOLD CORP. ANNOUNCES PRIVATE PLACEMENT OFFERING

Pegmatite One Lithium and Gold Corp. plans to offer, on a private placement basis, up to four million units at a price nine cents per unit for total proceeds of up to $360,000.

Each unit consists of one common share and one-half of one whole share purchase warrant. Each warrant is exercisable at a price of 12 cents per share for a period expiring two years from the date of issuance.

All securities issued in connection with the offering will be subject to a four-month statutory hold period.

The company may pay a finder's fee may in cash and/or share purchase warrants in accordance with the policies of the Canadian Securities Exchange.

The proceeds of the offering will be used for exploration, as well as general working capital purposes.

Closing of the proposed offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval from the Canadian Securities Exchange.

We seek Safe Harbor.