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P2 Gold Makes Final Payment for Acquisition of Gold-Copper Gabbs Project

Mergers & Acquisitions

P2 Gold Makes Final Payment for Acquisition

of Gold-Copper Gabbs Project

VANCOUVER, BC

,

Feb. 11, 2025

/CNW/ -

P2 Gold Inc.

("P2" or the "Company") (TSXV: PGLD)

(OTCQB: PGLDF) reports that it has paid

US$100,000

to Waterton Nevada Splitter, LLC

("Splitter"), an affiliate of Waterton Precious Metals Fund II Cayman, LP, in respect of the final

payment due to Splitter relating to the acquisition of the gold-copper Gabbs Project (

see P2 news

releases of

February 13, 2024

and

March 3, 2024

)

.

"We have now fulfilled all of our obligations to Waterton in respect of the acquisition of Gabbs, and

with the payment from the sale of the Ball Creek Claims, we are funded through the coming year

and into the next," commented

Joe Ovsenek

, President and CEO of P2. "What's more, with the

increase in metal prices, under the Company's preliminary economic assessment announced on

May

22, 2024

and described in the Gabbs Technical Report dated

May 17, 2024

(available under the

Company's profile on SEDAR+ at

www.sedarplus.com

), Gabbs has an internal rate of return of

43.3% and net present value at a 5% discount rate of

US$1.2 billion

at today's spot metal prices of

$2,909

gold,

$32

silver and

$4.22

copper. We look forward to providing further updates as we

advance Gabbs."

Qualified Person

Ken McNaughton

, M.A.Sc., P.Eng., Chief Exploration Officer, P2 Gold, is the Qualified Person, as

defined by National Instrument 43-101, responsible for the Gabbs Project. Mr. McNaughton has

reviewed, verified, and approved the scientific and technical information in this news release.

About P2 Gold Inc.

P2 Gold is a mineral exploration and development company focused on advancing its gold-copper

Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment

has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces

gold and 13,500 tonnes copper over a 14.2-year mine life. The Gabbs Project has excellent

infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical

testing is commencing shortly, and a water permit is expected in the second quarter of this year. All

zones on the property remain open and additional exploration targets, near surface and at depth, are

drill ready.

Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that

term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy

of this release.

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 respect to the Company's expectations, strategies and plans for its Gabbs Project 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, including

without limitation, the estimated internal rate of return and net present value at a 5% discount rate of

the Gabbs Project, as well as the other assumptions disclosed in this news release. 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,

including without limitation, the estimates and assumptions contained in the Gabbs Technical Report

dated

May 17, 2024

, and risks associated with mineral exploration, including the risk that actual

results and timing of exploration and development will be different from those expected by

management. See "Risk Factors" in the Company's annual information form for the year ended

December 31, 2023

, dated

March 21, 2024

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 information contained in this press release to reflect events or

circumstances after the date hereof.

SOURCE

P2 Gold Inc.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/February2025/11/c4113.html

%SEDAR: 00045664E

For further information:

For further information, please contact: Joseph Ovsenek, President &

CEO, (778) 731-1055; Michelle Romero, Executive Vice President, (778) 731-1060; P2 Gold Inc.,

Suite 789, 999 West Hastings Street, Vancouver, BC, V6C 2W2, [email protected], (SEDAR filings:

P2 Gold Inc.)

CO: P2 Gold Inc.

CNW 14:21e 11-FEB-25