Ms. Linda Brennan reports

PJX RESOURCES ANNOUNCES CLOSING OF $3.6 MILLION NON-BROKERED PRIVATE PLACEMENT

PJX Resources Inc. has closed the second tranche of its previously announced non-brokered private placement. A total of 2.5 million units of the company were issued at a price of 20 cents per unit for aggregate gross proceeds in the second tranche of $500,000. Combined with the first tranche closing previously announced in a press release of the company dated April 15, 2024, a total of 13,611,111 units of the company have been issued for total gross proceeds of $3.6-million. Each unit is composed of one common share of the company and one-half of one common share purchase warrant. Each whole warrant acquired as part of a unit in the second tranche closing will entitle the holder to purchase one common share at an exercise price of 40 cents for 24 months following completion of the private placement. Crescat Capital Hedge Funds was among the investors involved in the private placement, with its investment in the company totalling $250,000 for 1.25 million units within the second tranche closing.

The private placement remains subject to receipt of the approval and acceptance of the TSX Venture Exchange. No compensation or finders' fees were paid in connection with the closing of the private placement. The securities issuable in connection with the private placement will be subject to a statutory hold period in Canada, which will run for four months from the respective closing dates.

PJX Resources intends to use the net proceeds of the private placement for expenditures on its properties located in Cranbrook, B.C., and for general working capital purposes.

Linda Brennan and James Clare, each directors of PJX Resources, have subscribed for a total of 375,000 non-strategic units as insiders. The subscriptions by Ms. Brennan and Mr. Clare will each be considered to be a related-party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. PJX Resources intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.

About Crescat Capital Hedge Funds

Crescat Capital is a global macro asset management firm headquartered in Denver, Colo. Crescat's mission is to increase and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat is advised by its technical and geological director, Dr. Quinton Hennigh. Dr. Hennigh became an economic geologist after obtaining his PhD in geology/geochemistry from the Colorado School of Mines. He has more than 30 years of exploration experience with major mining firms, including Homestake Mining, Newcrest Mining and Newmont Mining.

About PJX Resources Inc.

PJX Resources is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold, silver and base metals (zinc, lead, copper and nickel). PJX Resources' properties are located in the historical Sullivan mine district and Vulcan gold belt near Cranbrook and Kimberley, B.C.

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