Not Proceeding with LA Verde Project

Suite 920 – 1112 WEST PENDER STREET

VANCOUVER, BC, V6E 2S1

http://primemeridianresources.com/

March 02, 2023 News Release TSXV: PMR

PRIME MERIDIAN RESOURCES CORP.

NOT PROCEEDING WITH LA VERDE PROJECT

Vancouver, B.C.: Prime Meridian Resources Corp. (“PMR'' or the “Company”) (TSXV: PMR) announces

that further to the Company’s news release dated February 9, 2023, the Company has elected not to

proceed with the acquisition of the La Verde Project. The Company will continue to focus on its Red Lake

and Cuatro Hermanos Projects.

Financing

The Company also announced in the news release on February 9, 2023 that it will be pursuing a non-

brokered private placement offering of units at five cents ($0.05) per unit for gross proceeds of up to $1-

million. The financing will consist of up to 20 million units at five cents, with each unit consisting of one

common share of the company and one common share purchase warrant, with each warrant being

exercisable for an additional common share at an exercise price of 10 cents ($0.10) for 36 months. The

warrants will be subject to the right of the company to accelerate the exercise of the warrants if the shares

of the company trade at or above 50 cents for a period of 10 consecutive trading days. Finders' fees in

accordance with TSX Venture Exchange policies may apply to the financing. All securities issued pursuant

to the financing will be subject to a four-month hold. Proceeds raised from the financing will be used for

current project payments and holding costs, exploration expenditures, and working capital expenditures.

On behalf of the Board of Directors of

Prime Meridian Resources Corp.

"Brian Leeners"

Brian Leeners, CEO & Director

[email protected] / +1 604-862-4184 (WhatsApp)

“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies

of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."