Mr. Alexander Klenman reports

PLANET VENTURES TERMINATES AGREEMENTS TO ACQUIRE MINERAL CLAIMS AND ENTERS INTO ASSIGNMENT AGREEMENT

Planet Ventures Inc. has entered into assignment and assumption agreements dated Aug. 28, 2023, among the company, Wildwood Exploration Inc., Shawn Ryan, Isaac Fage and Manning Ventures Inc. As previously announced in the company's news releases dated each of June 21, 2023, and Aug. 10, 2023, the company agreed to acquire certain mineral claims from the vendors pursuant to mineral claim sales agreements dated each of June 15, 2023, and July 13, 2023. As of the date hereof, the company and the vendors have agreed that they will not proceed with the proposed acquisition, and the company will enter into the assignment agreements. Pursuant to the assignment agreements, the rights and obligations granted to the company pursuant to the agreements have been assigned to and assumed by the purchaser. In accordance with the terms of the arrangement agreements, the purchaser will issue to the company an aggregate of one million common shares in the capital of the purchaser.

The entering into of the assignment agreements constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) as Alexander Klenman, the chief executive officer of the purchaser, is chief executive officer of the company, and Christopher Cooper, a director of the purchaser, is chief financial officer and a director of the company.

The transaction is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) as the fair market value of the transaction does not exceed 25 per cent of the company's market capitalization. The company will file a material change report in respect of the assignment agreements. As the transaction may close within 21 days, the material change report may be filed fewer than 21 days before the expected date of the closing of the transaction.

All securities issued in connection with the transaction will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

About Planet Ventures Inc.

Planet Ventures is an investment issuer listed on the TSX Venture Exchange that is focused on investing in disruptive companies and industries that have high growth potential. Planet Ventures' unique portfolio-driven investment policies provide its investors with access to emerging and high-growth opportunities while shielding them from any formidable downside.

We seek Safe Harbor.