P2 Gold Inc.  (TSXV: PGLD) (OTCQB: PGLDF) reports that it has amended its agreements with certain insiders of P2 to settle $572,500 in shareholder loans previously provided for working capital for 5,725,000 shares of the Company at a deemed price of $0.10/share.  The Loan Shares to be issued in respect of the Loan Settlement are subject to a hold period of four months expiring on March 8, 2025.

The Loan Settlement with such insiders will be a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Loan Settlement with each of these individuals is exempt from the minority approval and formal valuation requirements of MI 61-101 pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the debt, nor the fair market value of the shares to be issued in settlement of the debt, exceeds 25% of P2’s market capitalization.

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.