Pegasus Resources Inc. announced the appointment of Mr. Derrick Strickland, P. Geo, MBA, as a new member of the Board of Directors. Derrick Strickland, P. Geo, MBA, has over 35 years of involvement in all aspects of the exploration industry, actively working as a geological and corporate advisor. Mr. Strickland has been self- employed for over 23 years.

He is an experienced leader, founder, director, CEO, and Vice President to over 20 publicly traded companies. His work over the last three decades has been on six continents, specializing in remote locations, instituting quality assurance programs, provision of on the ground geological technical execution and know-how, and expertise for both private and publicly traded resource companies. He has extensive practice in the areas of corporate governance, current regulatory regimes, compliance, and disclosure matters (NI 43-101).

Mr. Strickland's international exposure encompasses a range of commodities, including base metals, gold, uranium, diamonds, potash and copper in numerous deposit types and settings, with an eye to other specialty minerals and unique opportunities. Mr. Strickland's diverse experience makes him an asset in all geological and cultural settings. Mr. Strickland's extensive network and industry engagement has seen him elected as a past director of both the Prospectors & Developers Association of Canada (PDAC) and the Association for Mineral Exploration B.C. (AME).

Pegasus Resources also announced the resignation of Mr. Lorne McCarthy from the Board of Directors.