Project One Cancels Cyber Security Transaction

Project One Resources Ltd

#1710, 1177 West Hastings Street

Vancouver, BC, Canada, V4E 3L6

February 19, 2021

Project One Resources cancels Cyber Security deal

Project One Resources (PJO.CSE) wishes to inform that due to COVID related travel restrictions, the

Company will no longer pursue the previously announced Cyber Security projects, (see Nov. 12, 2020

news).

“The inability for management and potential financiers to travel to the site of operations has made the

necessary due diligence needed to fund and close the transaction far too difficult”, states Ron Shenton,

CEO.

Management continues to review projects in various sectors and hopes to make an announcement

shortly.

In light of the aforementioned, the Company has accepted the resignations of John Devlin and Antoine

Karam from our advisory board and wish to thank them for their exemplary efforts in these

unprecedented times.

The Company also wishes to announce that it will be cancelling 450,000 stock options granted to

consultants on September 18, 2020 at $0.50 with an expiry date of September 17, 2025.

For further information, investors and shareholders are invited to visit the Company’s website

at http://www.p1r.ca .

ON BEHALF OF THE BOARD OF DIRECTORS

“Ron Shenton”

Ronald Shenton, President and CEO

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in

policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this

release.