P2 Gold Inc. (TSX-V:PGLD) reports that the 2022 exploration program at its gold-copper BAM Project located in the Golden Triangle in northwest British Columbia is underway.

In late May crews mobilized for site preparation at BAM, clearing snow and caching fuel for the upcoming Z‐Tipper Axis Electromagnetic airborne geophysical survey. Camp construction has begun and is expected to be complete in the coming weeks. While camp construction is underway, crews will be based near Highway 37 approximately 45 kilometers to the southeast of BAM.

A diamond drill is planned to mobilize to BAM in two weeks to commence the 10,000-meter drill program. Drilling will focus on expanding the near-surface epithermal Monarch Gold Zone, first drilled in July 2021, where Hole BAM-003 intersected 2.63 g/t gold over 45.85 meters including 9.2 meters grading 7.30 g/t gold. Drilling will also test the Monarch Gold Zone at depth by targeting the feeder zone for the surface mineralization. The BAM 2022 drill program is expected to continue through the end of September.

The ZTEM airborne geophysical survey is planned to commence mid-June and will target the geological structures underlying the BAM Project, most importantly the potential feeder zone for the near-surface epithermal Monarch Gold Zone.

Quality Assurance

Ken McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, P2 Gold, is the Qualified Person, as defined by NI 43-101, responsible for the BAM Project. Mr. McNaughton has reviewed, verified and approved the technical information in this news release.

About P2 Gold Inc.

P2 is a mineral exploration and development company focused on advancing precious metals and copper discoveries and acquisitions in the western United States and British Columbia.