Mr. Lawrence Tsang reports

PLUTO VENTURES INC. SIGNS OPTION AGREEMENT TO ACQUIRE MONARCH URANIUM PROJECT IN NUNAVUT

Pluto Ventures Inc. has entered into a definitive option agreement with Troubadour Resources Inc. to acquire a 100-per-cent interest in the Monarch uranium project, located in Nunavut, Canada. The acquisition represents a significant milestone for Pluto as it adds a highly prospective uranium project in a premier jurisdiction for critical mineral development.

Under the terms of the agreement, Pluto Ventures Inc. can earn a 100-per-cent interest in the Monarch uranium project, subject to a 2.5-per-cent net smelter return royalty by satisfying the following commitments.

Share issuances

Pluto will issue an aggregate of 650,000 common shares to the optionor, as follows:

• 250,000 shares on the effective date of the agreement;
• 250,000 shares on or before the first anniversary of the agreement; and
• 150,000 shares on or before the second anniversary of the agreement.

Cash payments:

• $50,000 in total cash consideration, payable on or before the second anniversary of the agreement.

Exploration expenditures:

• A minimum of $150,000 in exploration expenditures on the property, to be completed on or before the second anniversary of the agreement.

Pluto will serve as the operator during the option period, and may, at its sole discretion, accelerate share issuances, cash payments and/or exploration expenditures to earn its interest ahead of schedule.

About the Monarch uranium project

Located in Nunavut's Thelon basin, the Monarch uranium project is strategically situated within a highly prospective and underexplored uranium district. The project's historical exploration has confirmed high-grade uranium boulders and favourable structural geology with uranium mineralization, akin to the prolific Athabasca basin.

Project highlights:

• Historic boulder sample grading 31 per cent triuranium octoxide (1);
• Geological setting analogous to Athabasca basin;
• Nearby known uranium deposit;
• Presence of regional structures and radiometric anomalies; and
• No deep drill testing completed to date.

Pluto plans to prioritize exploration activities to delineate more prospective targets through prospecting, detailed mapping, and utilizing modern remote sensing and geophysical data.

Strategic significance

This acquisition aligns with Pluto's strategy to expand its portfolio and positions the company in a jurisdiction of growing geopolitical importance for uranium supply. The project provides Pluto with district-scale upside potential and complements its growing portfolio, including the gold-copper-lead-zinc polymetallic vein Dardanelle property in British Columbia.

Zachary Kotowych, chief executive officer and director of Troubadour Resources, commented: "We are pleased to partner with Pluto, who have demonstrated an aggressive and forward-looking approach in exploration. The project represents a unique opportunity in the emerging Thelon basin."

Lawrence Tsang, chief executive officer and president of Pluto, added: "This is an important acquisition for Pluto. Uranium is central to the global clean energy transition, and the project gives us a high-potential foothold in uranium exploration."

(1) D. Brown, March, 1981. Report on Rock Geochemistry, Geophysics Boulder Prospecting and Diamond Drilling in Area 4 during 1980. Western Mines Ltd. Document No. 081205.

About Pluto Ventures Inc.

Pluto, headquartered in Vancouver, B.C., Canada, is a mineral exploration company engaged in the acquisition, exploration and development of mineral properties. The company's current principal project is the Dardanelle project, which covers an area of 1,434 hectares located 23 kilometres east of Terrace, B.C.

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