PJX Resources Announces Soil Survey Supports Potential for Copper and Gold to be Associated with Sullivan Style Zinc-Lead-Silver Discovery and Undertaking of Non-Brokered Private Placement

TORONTO, ON / ACCESSWIRE / November 14, 2023 / PJX Resources Inc. ("PJX" or "the Company") is pleased to announce that highly anomalous gold and copper occur in soil material along with zinc, lead, and silver up slope from the discovery of Sullivan deposit style and grade semi-massive to massive sulphide boulders. The new sediment-hosted discovery of Sullivan style zinc-lead-silver mineralization in boulders occurs on the Company's Dewdney Trail Property in the Sullivan Minng District in southeastern British Columbia, Canada (see PJX news release October 12, 2023).

Boulders of Sullivan style and grade mineralization were discovered in an area of about 50 metres (m) by 150 m at the base of a talus slope. The boulders are strongly magnetic and appear to have not moved far down the slope of the mountain from a possible bedrock source as some are large and angular (see Photo on subsequent page).

Soil samples taken from talus material up-slope from the boulders are highly anomalous in zinc, lead, silver, gold, and copper. The soils coincide with the strong airborne magnetic anomaly immediately up-slope from the boulders. This magnetic anomaly may be the source of the strongly magnetic boulders.

The highly anomalous zinc, lead, silver, gold, and copper content in soils are also coincident with a moderately strong magnetic anomaly for about 500 m along strike to the north of the 500 m long strong magnetic anomaly (see Figures 1 through 6).

John Keating, President of PJX commented: "Only 2 lines of soils are present up-slope from the boulders. The soils are all anomalous in zinc, lead, silver, copper, and gold. The strongly magnetic anomaly is over 500m in diameter with moderately strong magnetic anomalies on strike to the north and south. Additional mapping and prospecting have been completed and more will be announced when lab analyses are received. We've outlined an area 600 m wide and 1.6 km along strike on the attached maps that will be the main focus of exploration in 2024."

Private Placement

The Company is pleased to announce a non-brokered private placement (the "Offering") of up to sixteen million units through the issuance of Flow Through ("Flow Through Unit") and Non-flow Through Units ("Unit") at a price of $0.105 per Flow Through Unit and $0.09 per Unit.

Each Flow-through Unit will consist of one common share to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (the "Flow-through Shares") and one common share purchase warrant. Each Unit will consist of one common share and one common share purchase warrant. Each warrant, whether acquired as part of a Flow-through Unit or Unit, will entitle the holder to purchase one common share at an exercise price of $0.20 for 24 months following completion of the Offering.