Mr. Joseph Ovsenek reports

P2 GOLD UPSIZES FINANCING

P2 Gold Inc. intends to increase the size of its non-brokered private placement, previously announced on April 22, 2026, to 15 million units (an increase from 10 million units) at a price of 75 cents per unit for gross proceeds of up to $11.25-million. The Quaternary Group Ltd. is subscribing for 10 million units.

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 $1.50 per common share for a period of two years after the date of issue.

The offering will close on completion of documentation and is conditional upon receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The proceeds of the offering will be used to finance exploration and development expenditures at the Gabbs project in Nevada and for general corporate purposes. All securities issued pursuant to the offering will be subject to a four-month hold period.

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 and 15,000 tonnes copper over a 14.2-year mine life. The Gabbs project has excellent infrastructure with access by paved Hwy. 361, and power and water on site. All zones on the property remain open, and an infill and expansion drill program is under way. On completion of drilling, an updated mineral resource estimate will be prepared for Gabbs, which is expected to be completed in the third quarter.

We seek Safe Harbor.