Mr. John Keating reports

PJX RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT AND WARRANT EXTENSION

Subject to TSX Venture Exchange approval, PJX Resources Inc. has arranged a non-brokered private placement of up to 5.1 million units through the issuance of flow-through units at a price of 10.5 cents per flow-through 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 warrant 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 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-V. 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 closing of the offering. The company may pay finders' fees, in accordance with the policies of the TSX-V.

John Keating, president of PJX, commented: "Our recent discovery of Sullivan-style mineralization has generated considerable interest in PJX's potential to discover a Sullivan-type deposit near surface on our Dewdney Trail property. Compilation of recent mapping and prospecting data, along with analyses, is under way, with these results planned to be announced next month."

The company intends to use the proceeds of the offering for expenditures on its properties located in Cranbrook, B.C. The proceeds from the issuance of the flow-through shares will qualify as Canadian exploration expenses (as defined in the Income Tax Act (Canada)).

Warrant extension

Subject to the approval of the TSX-V, the company intends to extend the expiry date of 9,391,794 share purchase warrants by 12 months to Dec. 20, 2024. The warrants were issued pursuant to a private placement accepted for filing by the TSX-V on Dec. 21, 2021. The warrants are exercisable at 25 cents per share and are currently set to expire on Dec. 20, 2023. All other terms of the warrants, including the exercise price, remain unchanged. Upon receipt of approval from the TSX-V, a material change report will be filed by the company.

A total of 257,647 of the affected warrants are held by parties considered to be related parties of the company. Therefore, the amendment of warrants constitutes a related party transaction, as contemplated by Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, and TSX-V Policy 5.9 -- Protection of Minority Security Holders in Special Transactions. However, the exemptions from the formal valuation and minority shareholder approval requirements provided for by these guidelines can be relied upon, as the fair market value of the warrants held by insiders does not exceed 25 per cent of the market capitalization of the company.

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 critical metals, including copper, zinc, cobalt, cadmium and indium. PJX's primary properties are road accessible, close to power and rail, and located in the historical mining area of Cranbrook and Kimberley, B.C.

We seek Safe Harbor.