News

Vancouver, British Columbia, January 5, 2026; P2 Gold Inc. (“P2” or the “Company”) (TSX-V:PGLD) (OTCQB:PGLDF) reports that under the terms of the convertible debentures (the “Convertible Debentures”) issued on March 4, 2024 and March 14, 2024 (see news releases dated March 5, 2024 and March 14, 2024), it has elected to satisfy its obligation to pay accrued interest in shares of the Company.

At December 31, 2025, Convertible Debentures having an aggregate value of $1,118,000 were outstanding.  The Company has elected to pay an aggregate of approximately $42,270 in interest accrued on the $1,118,000 of Convertible Debentures by issuing to such debenture holders for the interest payment (the “Interest Payment”) due December 31, 2025 an aggregate of 63,079 common shares of the Company.

The Company will pay to each such debenture holder approximately 56.42 common shares per $1,000 principal amount of Convertible Debentures held as at the applicable interest payment record date. Under the terms of the Convertible Debentures, no fractional common shares will be delivered upon payment of the interest obligation.  The issuance of common shares in payment of interest remains subject to the approval of the TSX Venture Exchange (the “Exchange”). The common shares to be issued in respect of the Interest Payment will be subject to a hold period of four months from the date of issuance.

The principal amount of the Convertible Debentures is due to be repaid in full by the Company on January 31, 2026, provided that a holder of Convertible Debentures may elect to convert the outstanding net principal amount, or any portion thereof, into shares of the Company at a conversion price of $0.10 per share up to January 31, 2026.

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, where work to support a feasibility study is underway.  A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 109,000 ounces gold, 15,000 tonnes copper over a 14.2-year mine life.  The Gabbs Project has excellent infrastructure with access via paved Hwy 361, and power and water on site.  Additional metallurgical work is being planned, and a water permit is expected in the this year.  All zones on the property remain open and additional exploration targets, near surface and at depth, are drill ready.

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Neither the 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 press release contains “forward-looking information” within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, information with respect to the Company’s expectations, strategies and plans for the Gabbs Project including the Company’s planned expenditures and exploration activities.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made.  Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information.  See “Risk Factors” in the Company’s annual information form for the year ended December 31, 2024, dated March 21, 2025 filed on SEDAR+ at www.sedarplus.com for a discussion of these risks.

The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.

Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.