Announcement • May 26
P2 Gold Inc. announced that it has received CAD 11.625 million in funding from The Quaternary Group Ltd On May 25, 2026, P2 Gold Inc. closed the transaction. The company announced that it has issued 15,500,000 units at an issue price of CAD 0.75 per unit for gross proceeds of CAD 11,625,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of CAD 1.50 per common share for a period of two years after the date of issue. All securities issued pursuant to the offering are subject to a four-month hold period expiring September 26, 2026. The company did not pay any finders' fees in respect of the offering. Insiders of the company subscribed for 300,000 units. The Quaternary Group Ltd. is subscribing for 10,000,000 units. Announcement • May 22
P2 Gold Inc. Reports Results from Diamond Drill Holes At Lucky Strike Zone P2 Gold Inc. reported results from four diamond drill holes (GBD-021 and GBD-029 to 031) drilled at the Lucky Strike Zone as part of the Infill and Expansion Drill Program at its Gabbs Project located on the Walker-Lane Trend in Nevada. Visible gold was encountered in drill hole GBD-021, a 100-meter step out to the south into an area with no historical drilling. Results from drilling to date confirm the Lucky Strike Zone continues to host high potential for expansion. Select drill results from holes GBD-021 and GBD-029 to 031 drilled at the Lucky Strike Zone include: Hole GBD-021 intersected 1.04 g/t gold and 0.35% copper over 53.34 meters from 60.96 meters downhole (1 sample capped at 7 g/t gold and 3 samples capped at 0.7% copper), including 19.81 meters grading 1.93 g/t gold and 0.44% copper starting 65.53 meters downhole (1 sample capped at 7 g/t gold and 2 samples capped at 0.7% copper) and including 1.52 meters grading 183.0 g/t gold and 4.0% copper starting 73.15 meters downhole (uncapped) and also intersected 0.30 g/t gold and 0.16% copper over 50.29 meters starting 114.3 meters downhole and 0.14 g/t gold and 0.23% copper over 16.76 meters starting 216.41 meters downhole and ended in mineralization; Hole GBD-029 intersected 0.88 g/t gold and 0.34% copper over 56.39 meters starting 97.54 meters downhole, including 21.34 meters grading 1.42 g/t gold and 0.43% copper starting 102.11 meters downhole; Drill holes GBD-021 and GBD-029 to 031 were drilled on the western half of the Lucky Strike Zone and confirm and extend the higher-grade core area of mineralization at the Lucky Strike Zone first identified with reverse circulation drill holes GBR-096 to 101. The high-grade mineralization intersected in drill hole GBD-021 was near the upper contact of the quartz monzonite, which also hosts the higher-grade mineralization intersected elsewhere at the Lucky Strike and Sullivan Zones. With GBD-021, the high-grade mineralization was associated with more intense silification and brecciation than other higher-grade drill intercepts at the Lucky Strike and Sulivan Zones and was flooded with sulphides and coarse visible gold. Additional drilling is planned for the same drill pad as GBD-021 to follow up and refine the controls on this very high-grade mineralization. An RC drill has been mobilized to site and will initially focus on expanding this higher-grade core area to the north and the south in keeping with the Company's primary focus on the shallower mineralization in the western half of the Lucky Strike Zone. Once the western half of the Lucky Strike Zone is well defined, drilling will then switch focus to expanding the mineralization to the northeast and southeast. The Lucky Strike Zone remains open in all directions. Based on available current and historical drill data, the Lucky Strike Zone has the potential to be significantly larger than the Sullivan Zone. The available drill data also confirms that the ore controls at Lucky Strike are the same as at the Sullivan Zone where mineralization is localized within and below a tabular unit of quartz monzonite underlain by pyroxenite. As with Sullivan, the higher-grade gold and copper at Lucky strike is at the core of the zone and in restricted halos around subvertical structures. This mineralization is gold dominant and gives way to copper-gold mineralization in the footwall of the main mineralized body. At Lucky Strike, the deeper footwall mineralization ranges in thickness from 20 meters to 60 meters and with the main mineralized body ranging up to 75 meters thick forms a zone with a combined thickness of up to 125 meters thick. There are numerous quartz-filled structures that cut across the Lucky Strike Zone which come to surface and were exploited historically as narrow, high-grade pits and shallow workings. Since the start of the Program in October 2025, a total of 67 RC drill holes have been drilled, with 24 holes drilled at the Sullivan Zone and 43 holes drilled at the Lucky Strike Zone. The diamond drill has completed 32 metallurgical and slope stability geotechnical holes and five exploration holes to date. Assays will continue to be reported over the coming months. On completion of the Infill and Expansion Drill Program, an updated Mineral Resource estimate will be prepared for Gabbs, which is expected to be completed in the third quarter of 2026. The updated Mineral Resource estimate will form the basis of a feasibility study on placing Gabbs in production, which is expected to be completed in the fourth quarter of 2026. Table 1: Selected Gabbs Drill Results, May 2026 (GBD-021 and GBD-029 to GBD-031)(1, 2) Hole Collar Coords Dip/Azimuth (m) (m) (m) Gold (g/t) Copper (%) GBD-021(3) N4293704/-80/180 60.96 114.30 53.34 1.04(4) 0.35(4) E415030 Incl. 65.53 85.34 19.81 1.93(5) 0.44(5) Incl. 73.15 74.68 1.52 183.00(6) 4.00(6) FM(7) 114.30 164.59 50.29 0.30 0.16 FM 216.41 233.17 16.76 0.14 0.23 GBD-029 N4293776/-90/0 97.54 153.92 56.39 0.88 0.34 E415121 Incl. 102.11 123.44 21.34 1.42 0.43 GBD-030(3) N4293776/-55/315 106.68 184.40 77.72 0.43 0.23 E415121 Incl. 140.21 158.50 18.29 0.64 0.35 GBD-031 N4293776/-55/225 108.20 155.45 47.24 0.57 0.23 E415121 Incl. 109.73 128.02 18.29 0.90 0.30 FM 155.45 201.17 45.72 0.19 0.19 (1) True thickness to be determined. (2) All samples were submitted for preparation by ALS Global at its facilities in Reno, Nevada, with the analysis completed at ALS Global facilities in Reno, Nevada, and North Vancouver, British Columbia. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects assayed as a field duplicate. (3) Drill hole ended in mineralization. (4) 1 sample capped at 7 g/t gold and 3 samples capped at 0.7% copper. (5) 1 sample capped at 7 g/t gold and 2 samples capped at 0.7% copper. (6) Uncapped. (7) FM means footwall mineralization. Recent Insider Transactions Derivative • May 17
Independent Director exercised options to buy CA$390k worth of stock. On the 13th of May, Marcus Chalk exercised options to buy 500k shares at a strike price of around CA$0.30, costing a total of CA$150k. This transaction amounted to 41% of their direct individual holding at the time of the trade. Since June 2025, Marcus' direct individual holding has increased from 300.00k shares to 1.23m. Company insiders have collectively bought CA$1.2m more than they sold, via options and on-market transactions, in the last 12 months. 
