PJX Resources closes first tranche of private placement

TORONTO, ON / ACCESS Newswire / July 8, 2026 / PJX Resources Inc. ("PJX" or the "Company") is pleased to announce the close of the first tranche of our previously announced (see June 18, 2026, press release) non-brokered private placement (the "Private Placement" or "offering") of up to 44 million units of the Company for gross proceeds of up to $6.3 million. The Company will issue units on a non-flow through basis (each a "Unit"), "flow through" basis (each a "Flow Through Unit ("FTU"), and a Charity Flow-through basis (each a "Charity Flow-through Unit ("CFTU")" or a "Charity Flow-through Critical Metals Unit ("CFTUCM"). The subscription prices for each of the foregoing are $0.125 for a Unit, $0.15 per FTU, $0.168 per CFTU (previously announced as $0.16), and $0.18 per CFTUCM.

In the first tranche, the Company will issue 3,866,666 Flow Through Units and 22,736,320 Units for gross proceeds of $3,422,040. The 2 nd tranche of the offering is expected to close on or about July 15, 2026. Finders' fees comprised of $90,300 cash and 690,666 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 $0.20 for 24 months following completion of the Private Placement. Certain directors of PJX, participated in the first tranche of the private placement. As insiders, the subscriptions of these parties will be considered to be a "related party transaction" within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 ("MI 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. 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.

Each Unit and each Flow-through Unit, regardless of whether it is a FTU, CFTU or CFTUCM, 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 warrant acquired will entitle the holder to purchase one common share at an exercise price of $0.20 for 24 months following completion of the Private Placement. PJX intends to use the net proceeds of the Private Placement for expenditures on its properties located in Cranbrook, British Columbia, 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" and "flow-through mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's projects in British Columbia, on or before December 31, 2026, and to renounce all the Qualifying Expenditures in favour of the subscribers of the Flow Through Units effective December 31, 2026. Exploration and Discovery Potential In 2026, PJX plans to focus exploration on two target types: potential Sullivan-type Sedimentary Exhalative (Sedex) targets on the Dewdney Trail Property and a Reduced Intrusion Related Gold System (RIRGS) type targets on the Zinger Property. The Zinger target may be comparable to Snowline Gold's Valley discovery in the Yukon or Kinross Gold's Fort Knox deposit in Alaska (see PJX news release dated June 18, 2026).