File: Attachment 260721 NR Debt Closing PGA.pdf

PEGMATITE ONE LITHIUM AND GOLD CORP.

PEGMATITE ONE LITHIUM AND GOLD CORP. SETTLES OUTSTANDING DEBT

July 21, 2026 Vancouver, British Columbia. Pegmatite One Lithium and Gold Corp. (the "Company") (CSE: PGA) announces that the Company has closed its previously announced debt settlement (see June 25, 2026, press release) settling outstanding indebtedness totaling $90,000 through the issuance of 666,667 common shares at a price of $0.135 per share.

The securities are subject to a four month and one day hold from the date of issuance. In addition, the debt settlement is subject to the approval of the CSE.

On Behalf of the Board of Directors, Pegmatite One Lithium and Gold Corp. Kelly Abbott CEO Phone: +1 (416) 481-2222 x228 Email: kelly@pegmatiteone.com Website: www.pegmatiteone.com

Cautionary Statement Forward-looking Information Cautionary Statement Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.