File: '\\swfile\EmailIn\20260625 144214 Attachment 260625 NR Debt PGA.docx'

PEGMATITE ONE LITHIUM AND GOLD CORP.

PEGMATITE ONE LITHIUM AND GOLD CORP. TO SETTLE OUTSTANDING DEBT

June 25, 2026 - Vancouver, British Columbia. Pegmatite One Lithium and Gold Corp. (the "Company") (CSE: PGA) is pleased to announce that proposes to settle outstanding indebtedness of up to $90,000 in exchange for an aggregate of up to 666,667 common shares of the Company at a price of $0.135 per common share.

The securities, when issued will be subject to a four month Exchange hold and a four month and one day hold commencing from the date of issuance. In addition, the debt settlement is subject to the approval of the CSE.

On Behalf of the Board of Directors,

Pegmatite One Lithium and Gold Corp.

Kelly Abbott

CEO

Phone: +1 (416) 481-2222 x228

Email: kelly@pegmatiteone.com

Website: www.pegmatiteone.com

Cautionary Statement

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.