Playfair Mining Announces Private Placement

NEWS RELEASE

224-470 Granville St. Tel: 604 687-7178 PLY: TSX-V

Vancouver, B.C. Fax: 604 687-7179

Canada V6C 1V5 Toll Free: 888-244-6644 March 2, 2023

Playfair Mining Announces Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN

THE UNITED STATES

Vancouver, B.C. – Playfair Mining Ltd. (“Playfair”, or the “Company”); PLY -TSXV, is pleased

to announce a non -brokered private placement of up to 20,000,000 common shares of the

Company (“Shares“) at a price of $0.07 per Share (the “Offering“), for aggregate gross proceeds

of up to $1,400,000.

In connection with the Offering, the Company may pay certain finders’ fees equal to 7% of the

aggregate gross proceeds raised from those purchasers introduced by such finders, payable in cash

or Shares.

The Company intends to use the proceeds raised from the Offering for exploration activities in

Norway, and general corporate purposes. The Offering may close in tranches. The Offering is

expected to close on or before April 17, 2023. The Offering is subject to certain conditions

including, but not limited to, receipt of all necessary approvals including the approval of the TSX

Venture Exchange.

The Offering is being completed pursuant to the listed issuer financing exemption under Part 5A

of National Instrument 45 -106 Prospectus Exemptions and therefore the securities issued in the

Offering will not be subject to a hold period in accordance with applicable Canadian securities

laws. There will be an offering document related to the Offering that will be available under the

Company’s profile at www.sedar .com and at https://playfairmining.com. Prospective investors

should read this offering document before making an investment decision.

The securities issued pursuant to the Offering have not, nor will they be registered under the United

States Securities Act of 1933, as amended, and may not be offered or sold within the United States

or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an

applicable exemption from the U.S. registration requirements. This news release shall not

constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the

securities in the United States or in any other jurisdiction in whi ch such offer, solicitation or sale

would be unlawful.

The road to a cleaner environment includes electric vehicles. Electric vehicles need copper,

nickel, and cobalt. There is no green future without minerals.

For further information visit our website at www.playfairmining.com or contact:

Donald G. Moore D. Neil Briggs

CEO and Director Director

Phone: 604-377-9220 Phone: 604-562-2578

Email: [email protected] Email: [email protected]

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.

Forward-Looking Statements: This Playfair Mining Ltd. News Release may contain certain "forward-looking" statements and information relating

to Playfair which are based on the beliefs of Playfair management, as well as assumptions made by and information currently available to Playfair

management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitatio ns,

exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic

factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental re gulation and

supervision, seasonality, technological change, industry practices, and one -time events. Should any one or more of these risks or uncertainties

materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially

from those described herein.