Mr. John Keating reports

PJX RESOURCES ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

PJX Resources Inc. has closed the previously announced non-brokered private placement of 5.1 million flow-through units (see Dec. 4, 2023, press release). The offering was oversubscribed and closed with the issuance of 5.25 million flow-through units at a price of 10.5 cents per flow-through unit for total proceeds of $551,250.

Each flow-through unit consists 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, whether acquired as part of a flow-through unit or unit, entitles the holder to purchase one common share at an exercise price of 20 cents for 24 months following the completion of the offering.

Subject to TSX Venture Exchange approval, finders' fees of $40,042.08 cash and 381,360 finders' warrants will be paid in relation to the completion of the offering. Each finder's warrant entitles the holder to purchase one common share at an exercise price of 20 cents for 24 months following the completion of the offering.

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.

John Keating, president of PJX, commented: "With financing in place, PJX is in a good position to discover the source of Sullivan-deposit-style and grade mineralized boulders recently found by prospectors on our Dewdney Trail property. This is the first time that this style of mineralization, with such good grades, has been discovered outside the Sullivan mine area that is located about 25 kilometres to the west. The boulders were found only 200 metres from a road in a mining district with power, rail and a local work force. Compilation of recent mapping and prospecting data, along with analyses, is under way, with these results planned to be announced next month. Drilling is planned to commence in late spring, when snow melts and a permit amendment is received."

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 and will qualify as Canadian exploration expenses (as defined in the Income Tax Act (Canada)).

The offering has received conditional approval from the TSX-V.

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.