Mr. Joseph Ovsenek reports

P2 GOLD ANNOUNCES DEBT SETTLEMENT

P2 Gold Inc. has amended its agreements with certain insiders of P2 Gold to settle $572,500 in shareholder loans previously provided for working capital for 5,725,000 shares of the company at a deemed price of 10 cents per share. The loan shares to be issued in respect of the loan settlement are subject to a hold period of four months expiring on March 8, 2025.

The loan settlement with such insiders will be a related-party transaction under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The loan settlement with each of these individuals is exempt from the minority approval and formal valuation requirements of MI 61-101 pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the debt, nor the fair market value of the shares to be issued in settlement of the debt exceeds 25 per cent of P2 Gold's market capitalization.

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.