Mr. Kelly Abbott reports

PEGMATITE ONE LITHIUM AND GOLD CORP. TO SETTLE OUTSTANDING DEBT

Pegmatite One Lithium and Gold Corp. proposes to settle outstanding indebtedness of up to $213,500 in exchange for an aggregate of up to 2,551,765 common shares of the company at a price of 8.5 cents per common share.

The securities, when issued, will be subject to a four-month-and-one-day hold from the date of issuance. In addition, the debt settlement is subject to the approval of the Canadian Securities Exchange.

We seek Safe Harbor.