Mr. Patrick Hanna reports

TVI PACIFIC ANNOUNCES EXTENSION OF PRIVATE PLACEMENT

Further to its press releases dated May 30, 2023, and June 26, 2023, TVI Pacific Inc. has received an extension from the TSX Venture Exchange with respect to the duration of its previously announced non-brokered private placement to Prime Resources Holdings Inc., directly or indirectly through one or more of its subsidiaries or affiliates (collectively, PRHI) of 53.6 million common shares in the capital of the company, at a price of 2.5 cents per share, for gross proceeds of $1.34-million (or approximately $1-million (U.S.)). As such, the outside date upon which final acceptance of the private placement may be granted by the TSX-V has been extended to Aug. 14, 2023.

The extension of the outside date applies also to the condition by which Manuel Paolo A. Villar and Michael G. Regino were elected to the board at the annual general meeting of the company held June 28, 2023, whereby it was announced earlier that they shall resign as directors of the company if the private placement does not close by July 31, 2023, or if there is a failure to obtain any regulatory approval or clearance for either Mr. Villar or Mr. Regino to act as a director of the company.

About TVI Pacific Inc.

TVI Pacific is a Canadian resource company focused on mining projects in the Philippines, one of the most prolifically mineralized countries in the world. TVI currently holds a 30.66-per-cent equity interest in TVIRD, a Philippine corporation. Through TVIRD, TVI has ownership in a currently producing gold mine and is focused on bringing on stream the Siana gold mine, at which equipment has been rehabilitated and commissioning of the plant has commenced in line with TVIRD's plan to restart operations.

About Prime Resources Holdings Inc.

Prime Resources Holdings is a Philippine company organized primarily to hold Mr. Villar's interests in the mining industry. PRHI is the largest and controlling shareholder of TVIRD, holding 68.42 per cent thereof. PRHI is an affiliate of Prime Asset Ventures Inc. (PAVI), a Philippine company with focus on building and developing critical community infrastructure. PAVI currently holds major investments in subsidiaries operating in a variety of industries, including power and water utilities, information technology and telecommunications, financial services, and broadcast services.

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