PBM.V · 2025-04-16 12:00:00

Pacific Bay Brazil Gold Property Update, Trading Resumption

Mergers & Acquisitions

Pacific Bay Brazil Gold Property Update,

Trading Resumption

Vancouver, British Columbia--(Newsfile Corp. - April 16, 2025) - Reagan Glazier, President & CEO

Pacific Bay Minerals Ltd. (TSXV: PBM) ("

Pacific Bay

" or, the "

Company

") reports that the shares of

the Company will be reinstated for trading by the TSX Venture Exchange (the "Exchange") on

commencement of trading, Monday April 21

, 2025. The shares of the Company were halted upon the

Company disclosing in its January 7

, 2025 news release that is had signed a letter of intent to acquire

a property in Brazil that was deemed to be a Fundamental Acquisition under Exchange policies and

therefore a reviewable transaction.

The resumption follows provision to the Exchange of certain

information, such as a 43-101 compliant Technical Report on the Pereira-Velho gold prospect

(the

"Project")

in Alagoas State, Brazil, which report remains subject to further comment and review by the

Exchange, and a draft of the definitive option agreement with Appian Capital Advisory ("Appian")

whereby Pacific Bay proposes to acquire 100% of the Project (the "Agreement"). The Agreement is

nearing completion and has not yet been signed. Further details of the Agreement and the Project are

outlined below. The transaction remains subject to final review and approval from the Exchange.

"Pacific Bay looks forward to completing this transaction as soon as possible and opening an exciting

new chapter of gold exploration in Brazil," said Pacific Bay President & CEO Reagan Glazier. "The

markets are volatile, but gold has remained strong and I believe this is a great time to be taking on such

a promising property."

The Pereira-Velho Gold Prospect

The following are key findings from the Technical Report on the Project, located in Coité do Nóia,

Alagoas, Brazil.

Covering 14,596 hectares in the gold-rich Borborema Province, the project benefits from excellent road

access and proximity to the commercial hub of Arapiraca, supporting year-round exploration in a tropical

climate.

The Technical Report, prepared by RBM Serviços Técnicos Ltda., highlights significant gold discoveries

driven by past exploration, including soil sampling, trenching, and two drilling campaigns totaling over

6,300 meters. These efforts confirmed gold in quartz veins and pyrite-rich zones, with continuous

mineralization at depth-pointing to a promising orogenic gold system. Sample testing followed strict

industry standards, verifying reliable gold grades and visible gold in drill cores.

Metallurgical tests suggest strong gold recovery potential from oxidized ores using methods like

cyanidation or heap leaching, though sulfide-rich ores may require additional processing to unlock their

value. The project's geology features ancient metamorphic rocks-gneisses, quartzites, and banded iron

formations-ideal for hosting gold deposits.

The Technical Report recommends a US$1,560,000 budget including further drilling studies to expand

resources and assess economic potential. Ongoing environmental and community efforts will ensure

sustainable progress.

With an eight-month exploration plan proposed, Pacific Bay is poised to unlock the full promise of

Pereira Velho, delivering value to shareholders and stakeholders alike.

Activity

Cost (US$)

Drilling

850,000

Lab assaying

150,000

Metallurgical tests

25,000

Resources statement report

38,000

Vehicles/rent/facilities/IT

55,000

G&A

300,000

Continency (10%)

142,000

Subtotal

$1,560,000

Figure 1 Location Map