Mr. John Keating reports

PJX RESOURCES COMPLETES $6.3M NON-BROKERED PRIVATE PLACEMENT AND COMMENCED EXPLORATION OF CRITICAL METAL AND GOLD TARGETS IN SOUTHEASTERN BRITISH COLUMBIA'S SULLIVAN MINING DISTRICT

PJX Resources Inc. has closed the second tranche of the company's previously announced (see June 18 and July 8, 2026, news releases) non-brokered private placement for gross proceeds of $6.3-million.

John Keating, president of PJX, commented: "This financing will allow PJX to focus on two priority discovery opportunities for critical metals and gold in an established Canadian mining district. An initial 4,000 m drill program has commenced to test for a potential Sullivan-style sedimentary exhalative (sedex) critical-metals discovery on the Dewdney Trail property. At the Zinger property, prospecting, mapping and surface sampling for gold are under way at the Gar target in advance of receiving permits to drill a potential reduced intrusion-related gold system (RIRGS) for the first time. Together, these targets give PJX a rare opportunity to pursue two distinct discovery catalysts in a proven mining district with strong infrastructure advantages."

Private placement

The company issued units on a non-flow-through basis, and a charity flow-through basis (CFTUCM). The subscription prices for each of the foregoing are 12.5 cents for a unit, 15 cents per FTU, 16.8 cents per CFTU and 18 cents per CFTUCM. The first tranche closed on July 6, 2026, with gross proceeds of $3,422,040. In the second tranche, the company issued 8.27 million CFTU and 8.27 million CFTUCM with gross proceeds of $2,877,960. The cumulative total gross proceeds for the offering is $6.3-million.

Subject to TSX Venture Exchange approval, finders' fees comprise $74,725 cash and 597,800 non-transferable warrants may be paid in respect of the second tranche of the offering. The warrants entitle the holder to purchase one common share at an exercise price of 20 cents for 24 months following completion of this tranche of the offering.

Each unit and each flow-through unit, regardless of whether it is a FTU, CFTU or CFTUCM, 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 acquired entitles the holder to purchase one common share at an exercise price of 20 cents for 24 months following completion of this tranche of the offering.

All securities issuable in connection with the offering will be subject to a statutory hold period in Canada which will run for four months plus a day from the date of the closing of each tranche of the offering. The private placement is subject to compliance with applicable securities laws and to receipt of the final approval and acceptance of the TSX Venture Exchange.

The company intends to use the net proceeds of the private placement for expenditures on its properties located in Cranbrook, B.C., and for general working capital purposes. The company will expend an amount equal to the gross proceeds received by the company from the sale of the flow-through units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as both terms are defined in the Income Tax Act (Canada) related to the company's projects in British Columbia, on or before Dec. 31, 2026, and to renounce all the qualifying expenditures in favour of the subscribers of the flow-through units effective Dec. 31, 2026.

Dewdney Trail property -- priority critical-metals target with Sullivan-style potential

At the Dewdney Trail property, PJX has identified three prospective target areas -- Estella basin, Lewis Ridge and Grundy Creek -- each with potential to host a sedex-type deposit. The Estella basin is the most advanced target with Sullivan style and grade mineralization identified in surface boulders. In 2025, drilling intersected the Quake zone, an estimated 30 m thick horizon entirely anomalous in zinc, lead, silver, copper, cobalt, gold, cadmium and gallium. These results point to a significant mineralizing system and provide clear vectors for follow-up exploration. The opportunity is further strengthened by its location, approximately 25 kilometres east of the historical Sullivan mine, which operated for more than 90 years and produced more than 297 million ounces of silver, 8.4 million tonnes of lead and 7.9 million tonnes of zinc, plus additional gold, tin, copper, cadmium, antimony and bismuth in concentrate, according to British Columbia Ministry of Mines reports (Table 1). PJX's 2026 exploration will use the Quake zone as a vector to discover the source of boulders with Sullivan style and grade mineralization.

Zinger property -- drill-ready gold opportunity with RIRGS scale potential

At the Zinger property, the undrilled Gar target offers a compelling potential RIRGS gold opportunity with visible gold, strong geochemical and geophysical support, and geological characteristics comparable with Snowline Gold's Valley RIRGS discovery in Yukon (Table 2). Visible gold at the Gar target occurs in sheeted and structurally controlled quartz veins within a mid-Cretaceous granodiorite-to-granitic intrusion. Previously announced grab samples from sheeted veins in outcrop and boulders returned gold values ranging from anomalous levels up to 28,841 parts per billion (28.84 grams per tonne). Visible gold occurs as individual grains and with pyrite. Historical soil sampling has outlined a 1,600-metre-long gold-in-soil anomaly associated with the Gar intrusion. Airborne magnetic geophysical data further support the potential for a cluster of RIRGS targets in the area, giving PJX multiple gold targets to advance through drilling and follow-up exploration (see March 18, 2026, news release). Drilling at the Zinger property is planned for later in the summer, pending permit renewals.

Dewdney Trail and Zinger property target areas can be accessed by road, with some holes expected to be supported by helicopter from Cranbrook, approximately a 15-minute flight to either property.

Qualified person

The geological disclosure and content of this news release has been reviewed and approved by John Keating, PGeo (a qualified person for the purpose of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects). Mr. Keating is the president, chief executive officer and a director of PJX.

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, zinc, lead, copper, cobalt and other critical metals. PJX has consolidated 100 per cent of the mineral rights to the largest land package (750 square kilometres) in the historical Sullivan mine district and Vulcan gold belt near Cranbrook and Kimberley, B.C. PJX has developed a pipeline of more than 15 priority targets to be tested by PJX and/or companies interested in partnering to test often drill-ready targets with gold, silver, copper, zinc and other critical metal deposit potential. The mining district has excellent road, rail, and power infrastructure with a work force and communities familiar with mining.

We seek Safe Harbor.