P2 Gold BAM Update

VANCOUVER, BC, July 14, 2023 /CNW/ - P2 Gold Inc. ("P2" or the "Company") (TSXV: PGLD) (OTCQB: PGLDF) reports that it has completed the first two drill holes and the 2023 mapping and sampling program at its gold-copper BAM Project located in the Golden Triangle of northwest British Columbia.

"We have completed drilling our priority exploration targets beneath the Monarch Gold and Jan Copper zones," commented Joe Ovsenek, President & CEO of P2. "However, due to market conditions additional flow-through funding expected in early July did not materialize. As a result, we have stopped drilling and demobilized the drill while we wait for assays. We plan to return to BAM when funding is available to follow-up on the completed drill holes and drill the remaining priority drill targets and other targets identified from this year's exploration program."

With the completion of the two drill holes and the mapping and sampling program, exploration crews will demobilize from BAM in the coming week. Assays from the drill program are expected to be received in August.

P2 Gold is a mineral exploration and development company focused on advancing precious metals and copper discoveries and acquisitions in the western United States and British Columbia.

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 BAM 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, 2022, dated March 16, 2023 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.

SOURCE P2 Gold Inc.