An anonymous director reports

PSYENCE GROUP'S RTO TARGET, GOLDCOAST RESOURCE CORP., GRANTED OFFSHORE RECONNAISSANCE LICENSE FOR GOLD EXPLORATION ON GHANA'S SHALLOW CONTINENTAL SHELF

Psyence Group Inc.'s proposed reverse takeover target, GoldCoast Resource Corp., has been granted a series of 10 contiguous offshore reconnaissance licences by the Minerals Commission of Ghana, covering approximately 10,000 square kilometres along Ghana's western offshore continental shelf. The reconnaissance licences permit GoldCoast to conduct reconnaissance activities in accordance with Ghanaian mining regulations. The reconnaissance licences have an initial term of 12 months and may be renewed in accordance with Ghanaian regulations.

The licences represent the initial stage of Ghana's mineral tenure framework. Reconnaissance work is intended to identify areas that may warrant follow-up evaluation. Subject to exploration results and receipt of applicable regulatory approvals, portions of the licence area may be advanced to prospecting licences and, subsequently, mining licences. There can be no assurance that commercially viable mineralization will be identified or that any licence will be advanced.

GoldCoast has advised Psyence that it intends to undertake reconnaissance activities within the licence area in accordance with applicable Ghanaian laws and regulations.

As previously disclosed, Psyence and GoldCoast continue to advance their proposed reverse takeover transaction, which remains subject to customary conditions, including completion of technical disclosure in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, financial statement requirements, shareholder approval and Canadian Securities Exchange acceptance.

About Psyence Group Inc.

Psyence is a life science biotechnology company focused on the development of nature-derived psychedelic products for mental health and wellness applications.

Psyence is currently advancing a proposed reverse takeover transaction with GoldCoast Resource, a private mineral exploration company focused on offshore gold exploration in Ghana. Upon completion of the transaction, the resulting issuer is expected to pursue the business of GoldCoast, subject to receipt of all required regulatory and shareholder approvals.

Psyence's current operations are focused on research and development initiatives involving nature-derived psilocybin products. There can be no assurance that the proposed transaction will be completed as contemplated or at all.

We seek Safe Harbor.