Ms. Linda Brennan reports

PJX RESOURCES ANNOUNCES INCREASE OF SIZE OF NON-BROKERED PRIVATE PLACEMENT

Due to market demand, PJX Resources Inc. has increased the size of its previously announced private placement (as detailed in the company's news release dated Nov. 14, 2023) from the sale of up to 16 million units of the company to up to 22 million units through the issuance of flow-through and non-flow-through units at a price of 10.5 cents per flow-through unit and nine cents per unit.

Each flow-through unit will consist of one common share to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one common share purchase warrant. Each unit will consist of one common share and one common share purchase warrant. Each warrant, whether acquired as part of a flow-through unit or unit, will entitle the holder to purchase one common share at an exercise price of 20 cents for 24 months following completion of the offering.

The completion of the offering may constitute a related party transaction within the meaning of Multilateral Instrument 61-101 as certain insiders of the company may participate in the offering. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the offering by insiders will not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. The company will also make the offering available to subscribers who receive suitability advice from a registered investment dealer in accordance with applicable prospectus exemptions in certain Canadian jurisdictions. The company confirms that there is no material fact or material change about the company that has not been generally disclosed.

The offering, and any modifications to it, is subject to compliance with applicable securities laws and to receipt of the approval and acceptance of the TSX Venture Exchange. The company reserves the right to increase the size of the offering or to modify the type, nature and/or price of the units for any reason. The securities issuable in connection with this offering will be subject to a hold period in Canada which will run for four months and one day from the date of the issuance of the offered securities. The company may pay finders' fees in accordance with the policies of the TSX Venture Exchange.

The company intends to use the net proceeds of the offering for expenditures on its properties located in Cranbrook, B.C., and for general working capital. The gross proceeds from the issuance of the flow-through shares shall be used to finance exploration expenditures on the Cranbrook properties, with a focus on exploration on the Dewdney Trail property. Flow-through units will qualify as Canadian exploration expenses (as defined in the Income Tax Act (Canada)).

About PJX Resources Inc.

PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold, silver and base metals (zinc, lead, copper, nickel). PJX's properties are located in the historical Sullivan mine district and Vulcan gold belt near Cranbrook and Kimberley, B.C.

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