Mr. Greg Ferron reports

PTX METALS INC. ANNOUNCES INCREASE IN SIZE OF ITS PRIVATE PLACEMENT

PTX Metals Inc. has increased the size of its previously announced non-brokered private placement of flow-through shares from up to $3.75-million to up to $4.75-million. The size of the offering of units remains unchanged at up to $2-million. The company anticipates completing the offering by the end of the month.

As set forth in its press release dated April 6, 2026, the company is offering flow-through common shares at a price of 12.5 cents per FT share and units of the company at a price of 11 cents per unit. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant is exercisable to acquire one additional common share at a price of 18 cents for a period of 36 months from the date of issuance. No fractional warrant shares will be issued, and no cash or other consideration will be paid in lieu of fractional shares. The warrants will be subject to an acceleration provision, whereby the company may accelerate the expiry date of the warrants if the closing price of the company's common shares on the TSX Venture Exchange is at or above 40 cents for more than 20 consecutive trading days in accordance with the terms of the warrants.

The company intends to use the proceeds from the issuance of the units for general corporate expenses and working capital purposes and to use the gross proceeds from the issuance of the FT shares to incur eligible Canadian exploration expenses as defined in Subsection 66.1(6) of the Income Tax Act (Canada) that qualify as flow-through critical mineral mining expenditures as defined in Subsection 127(9) of the tax act related to the company's projects in Ontario. The qualifying expenditures will be incurred on or before Dec. 31, 2027, and will be renounced by the company to the purchasers with an effective date no later than Dec. 31, 2026, in an aggregate amount not less than the gross proceeds raised from the issue of the FT shares.

Unless issued pursuant to a prospectus exemption that does not require a statutory hold period, the units and FT shares offered and sold pursuant to the offerings will be subject to a statutory hold period in Canada of four months and one day after the closing date.

Additional information

The closing of the offerings may occur in multiple tranches. The closings of the offerings are subject to certain conditions, including applicable regulatory approvals and acceptance by the TSX Venture Exchange. The company does not anticipate increasing the size of the offerings further.

Insiders of the company may participate in the offerings. The issuance of units or FT shares to insiders will be considered related-party transactions within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company intends to rely on the exemption set forth in Section 5.5(a) of MI 61-101 from the formal valuation requirements of MI 61-101 and the exemption set forth in Section 5.7(1)(a) of MI 61-101 from minority shareholder approval requirements of MI 61-101 in respect of such insider participation as the fair market value of the offerings, insofar as it involves interested parties, is not expected to exceed 25 per cent of the company's market capitalization.

In connection with the offerings (as permitted by the policies of the TSX-V), eligible finders may be paid a cash amount equal to 7 per cent of the gross amount raised by finders. In addition, a number of finder warrants equal to 7 per cent of the number of units and FT shares issued pursuant to the offerings may be issued to eligible finders. Each finder warrant will entitle the holder thereof to purchase one common share at a price of 12.5 cents (subject to adjustment) for a period of two years following the issuance of the finder warrants. The finder warrants will be subject to a statutory hold period in Canada of four months and one day after the issuance of the finder warrants.

About PTX Metals Inc.

PTX is a proudly Canadian mineral exploration company advancing gold and critical mineral projects in Northern Ontario, including its W2 copper-nickel-platinum-group-element project in the Ring of Fire and the Shining Tree gold project in the Timmins gold camp. PTX offers shareholders exposure to copper, gold, nickel and platinum group element discoveries. The Province of Ontario is a mining jurisdiction renowned for both its abundance of critical minerals and stable regulatory environment.

Its corporate objective is to advance its assets, unlocking the full potential of two flagship projects, the W2 Cu-Ni-PGE located close to existing winter road infrastructure at the gateway to the strategic Ring of Fire region, and the Shining Tree gold project, neighbouring other known deposits in the Timmins gold camp.

PTX's portfolio of assets was strategically acquired for geologically favourable attributes and proximity to established mining companies.

PTX is based in Toronto, Canada, with a primary listing on the TSX Venture Exchange under the symbol PTX. The company is also listed in Frankfurt under the symbol 9PX.F and on the OTCQB in the United States as PANXF.

We seek Safe Harbor.