Mr. Chris McLeod reports

PACIFIC IMPERIAL ANNOUNCES PRIVATE PLACEMENT CANCELLATION DUE TO RE-PRICING REQUIREMENT

Pacific Imperial Mines Inc. is cancelling its proposed private placement of flow-through units and non-flow-through units, as previously described in the company's press release dated Sept. 9, 2026. After an internal review conducted by the TSX Venture Exchange completed on Oct. 15, 2026, the TSX-V determined that the closing price of 10 (after adjusting for the consolidation), which was used to establish the issue price of 7.5 cents for the private placement, was not a fair reflection of the market price for the company's common shares, and confirmed that the company would need to reprice the private placement.

The TSX-V advised the company on Oct. 8 that the reserve price established was not a fair reflection of the market price for the company's common shares and the offering would need to be repriced. The company advised the TSX-V on Oct. 9 that the repricing would be unacceptable to the committed subscribers.

The company thoroughly reviewed its strategic options and confirmed that a mandate to reprice the private placement would cause existing subscribers to withdraw their commitments from the private placement. Accordingly, the company has decided to formally cancel the proposed private placement and will be re-evaluating how to move forward.

About Pacific Imperial Mines Inc.

Pacific Imperial is a mineral exploration company based in Vancouver, engaged in the acquisition, exploration, evaluation and development of mineral properties in an acceptable risk environment. The company's current focus is on the Babine and Fenton properties in B.C. and the Brownell property in Saskatchewan.

We seek Safe Harbor.