Mr. Joseph Ovsenek reports

P2 GOLD ANNOUNCES UPSIZING AND CLOSING OF FINAL TRANCHE OF FINANCING

P2 Gold Inc.: (a) intends to increase the size of its non-brokered private placement, previously announced on Aug. 26, 2024, Sept. 4, 2024, and Sept. 9, 2024, to 20 million units (from 18 million units) in the capital of the company at a price of five cents per unit for gross proceeds of $1-million; and (b) has closed the third and final tranche of the offering consisting of 5.05 million units for gross proceeds of $252,500.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share in the capital of the company at an exercise price of 10 cents per common share for a period of two years from the date of issue, provided that, if, after four months from the date of issue, the closing price of the common shares of the company on the TSX Venture Exchange is equal to or greater than 20 cents for a period of 10 consecutive trading days at any time prior to the expiry time, the company will have the right to accelerate the expiry time of the warrants by giving notice to the holders of the warrants by news release or other form of notice permitted by the certificate representing the warrants that the warrants will expire at 4:30 p.m. Vancouver time on a date that is not fewer than 30 days from the date notice is given.

The proceeds of the offering will be used to finance exploration and development expenditures and for general corporate purposes. All securities issued pursuant to the final tranche will be subject to a four-month hold period expiring on Jan. 17, 2025.

About P2 Gold Inc.

P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs project on the Walker Lane trend in Nevada. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2-year mine life.

We seek Safe Harbor.