Pacific Empire closes non-brokered private placement

Vancouver, British Columbia--(Newsfile Corp. - August 4, 2026) - Pacific Empire Minerals Corp. (TSXV: PEMC) (" Pacific Empire ", " PEMC " or the " Company ") is pleased to announce that further to its initial news release and upsize news release dated July 13, 2026 and July 15, 2026 respectively, the Company has closed its previously announced non-brokered private placement (the " Offering ") of up to 36,000,000 units (" Units ") for gross proceeds of up to C$1,620,000.

Pursuant to the closing, the Company has issued 35,207,775 Units of the Company at a price of $0.045 per Unit, for aggregate gross proceeds of $1,584,349.88.

Each Unit consists of one common share in the capital of the Company (" Common Share ") and one Common Share purchase warrant (a " Warrant "). Each Warrant will entitle the holder to acquire one Common Share (each, a " Warrant Share ") at an exercise price of $0.07 per Warrant Share until 5:00 p.m. (Pacific time) on July 31, 2029 (the " Expiry Time ").

In connection with the Offering, the Company paid cash finders' fees of C$23,467.50 and issued 521,500 broker warrants (" Broker Warrants ") to Research Capital Corporation, Ventum Financial Corp. and Canaccord Genuity Corp. Each Broker Warrant entitles the holder to acquire one Common Share at a price of C$0.07 per Unit until July 31, 2029.

All securities issued under the Offering are subject to a statutory hold period expiring December 1, 2026 in accordance with applicable Canadian securities laws, and are also subject to a TSX Venture Exchange hold period expiring on the same date. The Offering remains subject to final approval of the TSX Venture Exchange.

An officer of the Company subscribed for an aggregate of 444,444 Units under the Offering for aggregate consideration of $19,999.98. Such participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, on the basis that neither the fair market value of the securities issued to, nor the consideration paid by, the related party exceeds 25% of the Company's market capitalization. The Company did not file a material change report in respect of the related party transaction at least 21 days prior to the closing of the Offering, as the details of the participation of the related party were not settled until shortly prior to closing and the Company deemed it reasonable in the circumstances to close on an expedited basis.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.