Ms. Linda Brennan reports

PJX RESOURCES ANNOUNCES CLOSE OF FIRST TRANCHE OF PRIVATE PLACEMENT

PJX Resources Inc. has closed the first tranche of its previously announced (see July 9, 2025, press release) non-brokered private placement of 12,430,905 units of the company for gross proceeds of $1,652,460.

In the first tranche, the company will issue 3,323,285 units on a flow-through basis and 2,393,334 units on a non-flow-through basis for gross proceeds of $752,460. The subscription prices for each of the foregoing are 14 cents per flow-through unit and 12 cents per unit. The second tranche of the offering is expected to close on or about July 31, 2025.

Each flow-through unit consists of one common share to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one common share purchase warrant. Each unit consists of one common share and one common share purchase warrant. Each warrant acquired, whether with a flow-through unit or a unit, will entitle the holder to purchase one common share at an exercise price of 20 cents for 24 months following completion of the private placement.

Certain directors of PJX participated in the private placement. As insiders, the subscriptions of these parties are considered to be a related-party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. PJX 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.

Finders' fees composed of $36,236 in cash and 283,520 non-transferable warrants may be paid in respect of the first tranche of the private placement. The warrants will entitle the holder to purchase one common share at an exercise price of 20 cents for 24 months following completion of the private placement.

All 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 date of the closing of the private placement. The private placement is subject to compliance with applicable securities laws and to receipt of the final approval and acceptance of the TSX Venture Exchange.

PJX 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. The company will expend an amount equal to the gross proceeds received by the company from the sale of the flow-through units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as both terms are defined in the Income Tax Act (Canada) related to the company's projects in British Columbia, on or before Dec. 31, 2026, and to renounce all the qualifying expenditures in favour of the subscribers of the flow-through units, effective Dec. 31, 2025.

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 and base metals (zinc, lead, copper and nickel). 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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