Pegasus Resources Announces New Advisory Board Member

VANCOUVER, February 5, 2024 - Pegasus Resources Inc. (TSX-V:PEGA)(Frankfurt:0QS0)(OTC/Pink Sheet symbol:SLTFF) (the "Company" or "Pegasus") proudly announces the appointment of Mr. Mike Magrum, P. Eng, to the Company's Advisory Board.

Mike Magrum, P.Eng. is a graduate of the Haileybury School of Mines and the University of Alaska with a degree in Geological Engineering. His professional career spans almost 50 years working in most commodities, particularly uranium. The work has carried him across North America, Central America and South America. He has also worked extensively in the southern countries in Africa.

Mike is a former president of the Northwest Territories Chamber of Mines and a former director of the Prospectors and Developers Association of Canada (PDAC). He has served in senior management and as a director and officer of a number of Canadian public companies.

He was part of the Terra Ventures Inc. team, which was a partner in the Roughrider uranium deposit discovery in the Athabasca Basin in Saskatchewan. The deposit was bought by Rio Tinto and subsequently acquired by Uranium Energy Corp.

He was also the Chief Operating Officer of Xemplar Energy, a significant uranium explorer in Namibia. The company at its peak had a market cap in excess of $1 billion dollars.

"We are delighted to welcome Mr. Mike Magrum to our Advisory Board," CEO Christian Timmins stated. "With nearly five decades of expertise, especially in uranium exploration, his strategic insights will be invaluable as we navigate and advance our projects at Pegasus. Mr. Magrum's exceptional career and leadership roles speak volumes, and we look forward to his contributions in driving our continued success."

Pegasus also wishes to announce that pursuant to its stock option plan; the Company has granted incentive stock options to certain directors and consultants to purchase a total of 250,000 common shares in the capital stock of the Company exercisable for a period of two years at a price of $0.215 per share.

About Pegasus Resources Inc.

Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold, and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information, please visit the Company at www.pegasusresourcesinc.com.

On Behalf of the Board of Directors:

Christian Timmins

President, CEO and Director
Pegasus Resources Inc.
700 - 838 West Hastings Street
Vancouver, BC V6C 0A6
PH: 1-403-597-3410

X: https://twitter.com/MrChris_Timmins
X: https://twitter.com/pegasusresinc
E: info@pegasusresourcesinc.com

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

Forward-Looking Statements

Statements included in this announcement, including statements concerning the Company's plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements." Forward-looking statements may be identified by words including "anticipates," "believes," "intends," "estimates," "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

SOURCE: Pegasus Resources Inc.