Mr. Kelly Abbott reports

PEGMATITE ONE LITHIUM AND GOLD CORP. CLOSES PRIVATE PLACEMENT OFFERING

Pegmatite One Lithium and Gold Corp. has closed its previously announced private placement by issuing 2,970,222 units at a price 13.5 cents per unit for total proceeds of $400,979.97.

Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable at a price of 20 cents per share for a period expiring two years from the date of issuance.

All securities issued in connection with the offering will be subject to a four-month statutory hold period.

The company paid no finders' fees.

The proceeds of the offering will be used for exploration, as well as general working capital purposes.

Closing of the proposed offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval from the Canadian Securities Exchange.

We seek Safe Harbor.