P2 Gold Todd Creek Exploration Update

VANCOUVER, Sept. 14, 2020 - P2 Gold Inc. (“P2” or the “Company”) (TSX-V:PGLD) reports on the 2020 exploration program at its Todd Creek Property located within the Golden Triangle in northwest British Columbia.

The Todd Creek 2020 drill program has been completed, which consisted of three drill holes totaling 1,027 meters. Drill holes 1 and 2, totaling 802 meters, targeted the Yellow Bowl Zone, a lenticular sericite-rich gossan measuring one kilometer by three kilometers, which hosts numerous structurally- controlled copper and gold showings. Drill hole 3, 225 meters, tested a series of closely-spaced copper/gold showings in a zone located five kilometers southeast of Yellow Bowl. Assays will be reported on receipt.

The 2020 exploration program at Todd Creek also included an airborne magnetic and radiometric survey over the northwest portion of the property and a satellite hyperspectral survey.

The Todd Creek Property covers an area of over 32,000 hectares and is located within the Golden Triangle, approximately 35 kilometers northeast of Stewart, BC and bordering the east side of Pretium Resources Inc.’s Bowser Claims. The western side of the Todd Creek Property covers a 12-kilometer by 3-kilometer corridor of altered lower Jurassic volcanic rocks which host at least four zones of gold-copper mineralization, known as Fall Creek, Ice Creek, Yellow Bowl and South zones. These zones are found in the same stratigraphy that hosts the nearby Brucejack, Snowfield and Goldstorm deposits.

Quality Assurance

Amanda Tuck, P.Geo is the qualified person responsible for the Todd Creek Property and has reviewed, verified and approved the scientific and technical information in this news release relating thereto.

About P2 Gold Inc.

P2 is a mineral exploration and development company focused on advancing precious metals discoveries and acquisitions in the Pacific Northwest.

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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, the Company’s expectations, strategies and plans for the Todd Creek Property, 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 final prospectus dated October 4, 2018 filed on SEDAR at www.sedar.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.

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.