Eskay Mining and P2 Gold Agree to Terminate Business Combination and Continue Exploration Services Agreement

VANCOUVER, BC, June 26, 2024 /CNW/ - Eskay Mining Corp. ("Eskay") (TSXV: ESK) (OTCQX: ESKYF) and P2 Gold Inc. ("P2") (TSXV: PGLD) (OTCQB: PGLDF) (together, the "Companies") report that they have agreed, due to market conditions, to terminate the non-binding letter of intent (the "Letter Agreement") dated June 4, 2024 pursuant to which Eskay agreed to acquire P2 in a business combination transaction (see joint news release of Eskay and P2 dated June 4, 2024).

Concurrently with the execution of the Letter Agreement, the Companies signed an exploration services agreement (the "Exploration Agreement") under which P2 agreed to plan and execute an exploration program on the Eskay-Corey Property for the 2024 exploration season. The Companies have agreed to continue with the Exploration Agreement and the mobilization of exploration crews to site this week

About Eskay Mining Corp:

Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the "Golden Triangle," 70km northwest of Stewart, BC. Eskay currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).

All material information on Eskay may be found on its website at www.eskaymining.com and on SEDAR+ at www.sedarplus.com.

About P2 Gold Inc.

P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2 year mine life.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, statements regarding: the Exploration Agreement and the 2024 exploration program. These forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters.

SOURCE P2 Gold Inc.

For further information, please contact: Mac Balkam, President & Chief Executive Officer, [phone], [email protected]; For further information, please contact: Joseph Ovsenek, President & CEO, [phone], [email protected]; Michelle Romero, Executive Vice President, [phone]