Prime Meridian Resources Corp. Files for Conditinal Approval, Closes First Tranche of $1.5 Million Financng

September 7, 2022 News Release TSX-V: PMR

PRIME MERIDIAN RESOURCES CORP. FILES FOR CONDITINAL APPROVAL, CLOSES FIRST TRANCHE OF $1.5 MILLION FINANCNG

Vancouver, B.C.: Prime Meridian Resources Corp. (“PMR'' or the “Company”) (TSX-V: PMR) announces that it has filed documents with the TSX Venture Exchange (the “Exchange”) seeking Conditional Approval of its $1.5 million private placement financing (the “Financing”), previously announced July 22, 2022. The Company has also filed for approval to close the first tranche of the financing, for aggregate gross proceeds of $400,000. On receipt of Exchange approval to close this first tranche, the Company will issue 8,000,000 units (the “Units”), each Unit consisting of 1 common share of the Company and 1 common share purchase warrant (the “Warrants”). Each warrant is exercisable at $0.10 for 3 years from the date of issue, subject to the right of the Company to accelerate the exercise period to 30 days if, after the expiry of the 4-month hold, common shares of the Company close at or above $0.50 for a period of 10 consecutive trading days. The Company expects to close the balance of the Financing by September 30, 2022.

Subject to Exchange approval, the Company will pay cash finders’ fees totaling $26,400 and issue 532,000 broker warrants, exercisable at $0.10 for 3 years from the date of issue.

All securities issued pursuant to the Financing will be subject to a 4-month hold.

Net proceeds from the Financing will be used for exploration and drilling on the Company’s La Verde Copper Project and for general working capital.

On behalf of the Board of Directors of Prime Meridian Resources Corp.

"Brian Leeners"

Brian Leeners, CEO & Director

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.

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