Ms. Linda Brennan reports

PJX RESOURCES' DEWDNEY TRAIL PROPERTY SEDEX DEPOSIT POTENTIAL UPDATE AND WARRANT EXTENSION

PJX Resources Inc. has discovered iron-rich minerals (pyrrhotite and pyrite) with copper (chalcopyrite) and minor to trace zinc (sphalerite) and lead (galena) in a venting geological environment by recent drilling, which appear consistent with mineralization typically found within a vent beneath sedex (sedimentary exhalative) type zinc-lead-silver mineralization. This first phase of drilling commenced in August this year after PJX received a five-year permit to explore and drill the large Dewdney Trail property near Cranbrook, B.C. (see news release dated Nov. 12, 2024).

Sedex deposits typically form where metal-rich fluids rise from depth along pathways called vents that occur along faults. Deposit models suggest zinc and lead minerals (sphalerite and galena) are first to be deposited. Iron- and copper-rich mineralization rises later along the vent and some times replace and/or remobilize zinc and lead and carry them higher in the venting system. The result is a zone of Sedex style zinc-lead-silver mineralization above and/or laterally away from the location of iron and copper mineralization. More drilling is required higher in the venting system, which is higher on the mountain and laterally on strike to the south and north.

John Keating, president of PJX, commented: "Discovering iron and copper sulphide minerals within a venting geological environment supports a mineralizing system that could produce a sedex type deposit, possibly similar to the Sullivan deposit located about 20 kilometres to the west. The boulders discovered at surface late last year, in proximity to the drilling, are evidence that the mineralizing system produced Sullivan style and grade zinc, lead, silver and other critical metal mineralization (see news release dated Oct. 12, 2023). Additional information will be announced when drill core sample analyses have been received and compiled with drill core and other data to plan the next phase of drilling in 2025."

Warrant extension

Subject to the approval of the TSX Venture Exchange, the company intends to further extend the expiry date of 9,391,794 share purchase warrants by 12 months to Dec. 20, 2025. The warrants were issued pursuant to a private placement accepted for filing by the TSX Venture Exchange on Dec. 21, 2021. The warrants are exercisable at 25 cents per share and are currently set to expire on Dec. 20, 2024. All other terms of the warrants, including the exercise price, remain unchanged. Upon receipt of the approval of the TSX Venture Exchange, a material change report will be filed by the company.

A total of 257,647 of the affected warrants are held by parties considered to be related parties of the company. Therefore, the amendment of warrants constitutes a related-party transaction as contemplated by Multilateral Instrument 61-101 (Protection of Minority Shareholders in Special Transactions) and TSX-V Policy 5.9 (Protection of Minority Shareholders in Special Transactions). However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the warrants held by insiders does not exceed 25 per cent of the market capitalization of the company.

PJX's new discovery potential background

PJX owns 100 per cent of the mineral rights to multiple properties totalling over 680 square kilometres of mineral claims in the Sullivan mining district of southeastern British Columbia, Canada. Exploration in late 2023 discovered boulders and outcrop of Sullivan deposit style and grade mineralization on PJX's Dewdney Trail property that is over 150 square kilometres in size. The zinc, lead, silver and other critical metal mineralization discovered at surface on the Dewdney Trail property is magnetic and appears to be associated with a strong to moderate magnetic airborne geophysical anomaly that can be traced for approximately 1.6 kilometres. This recent first phase of drilling on part of the anomalous trend confirms a geological environment with sulphide mineralization that supports the potential to discover a Sedex type deposit.

The geological disclosure and content of this news release has been reviewed and approved by John Keating PGeo (qualified person for the purpose of National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Keating is the president, chief executive officer and a director of PJX.

About PJX Resources Inc.

PJX 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, zinc, lead, copper, cobalt and other critical metals. PJX's properties are located in the historical Sullivan mine district and the Vulcan gold belt near Cranbrook and Kimberley, B.C.

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