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PGLD.V ·

P2 Gold Appoints Ken McNaughton as a Director

Management Changes

November 12, 2020 News Release 20-09

P2 Gold Appoints Ken McNaughton as a Director

Vancouver, British Columbia, November 12, 2020; P2 Gold Inc. (“P2” or the “Company”) (TSX-V:PGLD)

reports that its Board of Directors has appointed Ken McNaughton as a director of the Company.

Mr. McNaughton recently retired as the Chief Exploration Officer at Pretium Resources Inc. At

Pretium, Mr. McNaughton had been responsible for Pretium’s greenfield exploration programs since

joining the Company in 2011, shortly after it was formed to advance the early exploration -stage

Brucejack Project. He had led the exploration programs for both the Brucejack and Snowfield projects

prior to their acquisition by Preti um and had been res ponsible for the exploration program in 2009,

when bonanza -grade drilling results established Brucejack as a high -grade gold discovery. Most

recently, Mr. McNaughton led Pretium’s exploration of its Bowser Claims, which border the Company’s

Todd Creek Property to the west.

The Company also reports that Julian Kemp has resigned as a member of the Board of Directors of the

Company, effective November 11, 2020. Mr. Kemp joined the Board prior to the initial public offering

of the Company, Chaired the Audit Committee and provided the Board with a depth of knowledge and

experience in the areas of finance and corporate governance. The Company thanks Mr. Kemp for his

contributions.

About P2 Gold Inc.

P2 is a mineral exploration and development company focused on advancing precious metals

discoveries and acquisitions in the Pacific Northwest.

For further information, please contact:

P2 Gold Inc.

www.p2gold.com

Joseph Ovsenek

President, CEO and Chairman

[email protected]

Tel: +1 (604) 558-5167

Chris Hopkins, CFO

[email protected]

Tel: +1 (416) 786-9793

Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities

laws that is intended to be covered by the safe harbours created by those laws. “Forward -looking

information” includes statements that use forward -looking terminology such as “may”, “will”,

“expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations

thereof or comparable terminology. Such forward -looking information includes, without limitation,

information with re spect to the Company’s expectations, strategies and plans for the Silver Reef

Property, BAM Property, Todd Creek Property, Stockade Property and Lost Cabin Property including

the Company’s planned expenditures and exploration activities.

Forward-looking information is not a guarantee of future performance and is based upon a number of

estimates and assumptions of management at the date the statements are made. Furthermore, such

forward-looking information involves a variety of known and unknown risks, uncer tainties and other

factors which may cause the actual plans, intentions, activities, results, performance or achievements

of the Company to be materially different from any future plans, intentions, activities, results,

performance or achievements expresse d or implied by such forward -looking information. See “Risk

Factors” in the Company’s annual information form dated October 21, 20 20 filed on SEDAR at

www.sedar.com for a discussion of these risks.

The Company cautions that there can be no assurance that forward-looking information will prove to

be accurate, as actual results and future events could differ materially from those anticipated in such

information. Accordingly, investors should not place undue reliance on forward-looking information.

Except as r equired by law, the Company does not assume any obligation to release publicly any

revisions to forward -looking information contained in this press release to reflect events or

circumstances after the date hereof.

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

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release.