Mr. Donald Moore reports

PLAYFAIR MINING ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Playfair Mining Ltd. has closed the non-brokered private placement arranged on Feb. 3, 2025. The placement was oversubscribed, and the company has issued 11 million common shares at 2.5 cents per share for gross proceeds of $275,000. All securities issued are subject to a hold period expiring four months and one day from the date of issuance. No finders' fees were paid in connection with the financing.

The proceeds will be used for the initial $130,000 payment under the Golden Circle option agreement with ExplORE Resources Ltd. announced on Nov. 20, 2024. The balance will be allocated toward certain accounts payable and general working capital purposes. None of the proceeds will be used for payments to non-arm's-length parties or persons conducting investor relations activities.

Due diligence on the Golden Circle option has been satisfactorily completed. Playfair is continuing with its data compilation and assessment of the eight properties comprising the Golden Circle option, with a view to developing high-quality drill targets.

Following discussions with Department of Industry, Energy and Technology of Newfoundland and Labrador, Playfair has returned the Grey River tungsten property to the province, which has designated the area as "exempt mineral land" which will not be open for staking.

We seek Safe Harbor.