Mr. Richard Gonzalez reports

PETRO-VICTORY ENERGY CORP. ANNOUNCES WARRANT EXTENSION

Petro-Victory Energy Corp. intends to extend the exercise period for 1,205,350 common share purchase warrants issued on Feb. 27, 2024 (the February warrants), and 1,851,960 common share purchase warrants issued on March 28, 2023 (the March warrants, together with the February warrants, the warrants), all of which are exercisable at $4.00 per common share.

The warrants were issued pursuant to two separate private placement of units of the company at a price of $3.00 per unit. The February warrants and March warrants are set to expire on Feb. 27, 2025, and March 28, 2025, respectively. The company proposes to extend the expiry dates of the warrants by 12 months, such that the new expiry date for the warrants will be Feb. 27, 2026, and March 28, 2026. All other terms and conditions of the warrants remain unchanged. The warrant amendments are subject to acceptance by the TSX Venture Exchange.

About Petro-Victory Energy Corp.

Petro-Victory Energy is engaged in the acquisition, development and production of crude oil and natural gas resources in Brazil. The company holds 100-per-cent operating and working interests in 38 licences totalling 257,604 acres in two different producing basins in Brazil. Petro-Victory generates accretive shareholder value through disciplined investments in high-impact, low-risk assets. The company's common Shares trade on the TSX Venture Exchange under the ticker symbol VRY.

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