Pacific Bay Minerals Ltd. announced a non-brokered private placement to issue 3,000,000 units at an issue price of CAD 0.05 per Unit for the gross proceeds of CAD 150,000 and 1,429,000 flow-through units at an issue price of CAD 0.07 per unit for the gross proceeds of CAD 100,030; aggregate gross proceeds of CAD 250,030 on March 18, 2024. Each Unit will comprise one common share and one common share purchase warrant and Each FT Unit will consist of one charity flow-through common share and one Warrant to be issued on a non-flow-through basis. Each Warrant shall be exercisable into one additional common share for twenty-four months from closing at an exercise price of CAD 0.08 per share.

The transaction may include participation from certain insiders. The Offering is expected to close on or about April 1, 2024, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals. The securities issued pursuant to the Offering will be subject to a four month hold period from the date of closing of the Offering.

In accordance with the policies of the TSX Venture Exchange, the Company may pay a finder's fee of up to a 7% cash for subscriptions to the Financing.