Mr. Joseph Ovsenek reports

P2 GOLD ANNOUNCES CONVERTIBLE DEBENTURE INTEREST PAYMENT

P2 Gold Inc., under the terms of the convertible debentures issued on March 4, 2024, and March 14, 2024 (see news releases dated March 5, 2024, and March 14, 2024), has elected to satisfy its obligation to pay accrued interest in shares of the company.

At Dec. 31, 2025, convertible debentures having an aggregate value of $1,118,000 were outstanding. The company has elected to pay an aggregate of approximately $42,270 in interest accrued on the $1,118,000 of convertible debentures by issuing to such debentureholders for the interest payment due Dec. 31, 2025, an aggregate of 63,079 common shares of the company.

The company will pay to each such debentureholder approximately 56.42 common shares per $1,000 principal amount of convertible debentures held as at the applicable interest payment record date.

Under the terms of the convertible debentures, no fractional common shares will be delivered upon payment of the interest obligation. The issuance of common shares in payment of interest remains subject to the approval of the TSX Venture Exchange. The common shares to be issued in respect of the interest payment will be subject to a hold period of four months from the date of issuance.

The principal amount of the convertible debentures is due to be repaid in full by the company on Jan. 31, 2026, provided that a holder of convertible debentures may elect to convert the outstanding net principal amount, or any portion thereof, into shares of the company at a conversion price of 10 cents per share up to Jan. 31, 2026.

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, where work to support a feasibility study is under way. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 109,000 ounces gold, 15,000 tonnes copper over a 14.2-year mine life. The Gabbs project has excellent infrastructure with access via paved Highway 361, and power and water on site. Additional metallurgical work is being planned and a water permit is expected in the this year. All zones on the property remain open and additional exploration targets, near surface and at depth, are drill ready.

We seek Safe Harbor.