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PGLD.V ·

P2 Gold Files Technical Report on the Silver Reef Property

Technical Reports (NI 43-101)

October 20, 2020 News Release 20-06

P2 Gold Files Technical Report on the Silver Reef Property

Vancouver, British Columbia, October 20, 2020; P2 Gold Inc. (“P2” or the “Company”) (TSX -V:PGLD)

reports it filed a National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”)

technical report entitled “ NI 43 -101 Technical Report on the Silver Reef Property, Omineca Mining

Division, British Columbia, Canada ”, with an effective date of September 20 , 2020 (the “Technical

Report”). The Technical Report is available under the Company’s profile on SEDAR at www.sedar.com

and was prepared by Amanda Tuck, B.Sc. P.Geo , a “Qualified Person” as defined by NI 43 -101 and

independent of P2.

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,

the Company’s expec tations, strategies and plans for the Silver Reef 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, uncertainties 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 expressed or implied by such forward -looking information. See “Risk

Factors” in the Company’s final prospectus dated October 4, 2018 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 required by law, the Company does not assume any obligation to release publicly any

revisions to forward -looking informati on 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.