File: '\\swfile\EmailIn\20240813 134517 Attachment PPM NR 2024 08 13 - Debt Settlement.docx'

Suite 400 - 1681 Chestnut Street, Vancouver, BC V6J 4M6

www.pacificimperialmines.com

TSXV: PPM

NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES

Pacific Imperial Announces Proposed Debt Settlement

Vancouver, British Columbia - August 13, 2024 - Pacific Imperial Mines Inc. (TSX.V: PPM) ("Pacific Imperial" or the "Company") announces that, subject to the final approval of the TSX Venture Exchange (the "Exchange"), it intends to complete a debt settlement (the "Debt Settlement") of 3,682,906 common shares (the "Shares") of the Company at a deemed price of $0.03 per Share to settle debt owing for trade payables relating to exploration expenses provided to the Company with a non-related party for a total amount of $110,487.20.

The Shares issued pursuant to the Debt Settlement will be subject to the Exchange hold period, plus a hold period of four months and one day following the closing date of the Debt Settlement.

About Pacific Imperial Mines

Pacific Imperial is a mineral exploration company based in Vancouver, Canada, engaged in the acquisition, exploration, evaluation and development of mineral properties in an acceptable risk environment. The Company's current focus is on the Eagle Mountain Lithium property in the USA and the Brownell property in Saskatchewan and the PAM and Babine properties in B.C.

ON BEHALF OF THE BOARD OF DIRECTORS

"Chris McLeod"

Chris McLeod, CEO

For further information please contact:

Roman Shklanka, Chairman, at 604-649-6195

Email: investor@pacificimperialmines.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of the contents of this News Release.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.