Pacific Imperial Announces Debt Settlement

(TheNewswire)

Vancouver, British Columbia –TheNewswire - March 5, 2026 – Pacific ImperialMines Inc. (TSX.V: PPM) (“Pacific Imperial”or the “Company”) announces that it has entered intodebt settlement agreements with Chris McLeod (CEO and director of theCompany) and Peter Holbek (director of the Company) (collectively, the“Creditors”) to fully settle debt owed by the Company to theCreditors in the aggregate amount of $238,807 for outstanding loansowing to Mr. McLeod and Mr. Holbek and for outstanding fees owing toMr. Holbek (DBA Viking GeoScience) for geological services, by issuingan aggregate of 5,970,170 common shares of the Company to theCreditors at a deemed price of $0.04 per common share (the“Debt Settlement”). The Debt Settlement is subject to the approval of theTSX Venture Exchange (the “Exchange”). The sharesto be issued to the Creditors will be subject to a hold periodexpiring on the date that is four months and one day after the date ofissuance in accordance with applicable securities laws and thepolicies of the Exchange.

The participation of the Creditors in the DebtSettlement, in the amount of 4,608,260 common shares to be issued toMr. McLeod, 250,000 common shares to be issued to Mr. Holbek and1,111,910 common shares to be issued to Mr. Holbek (DBA VikingGeoScience) under the Debt Settlement, constitutes a “related partytransaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders inSpecial Transactions (“MI 61-101”). TheCompany is exempt from the requirements to obtain a formal valuationand minority shareholder approval in connection with the participationof the insiders in the Debt Settlement in reliance on the exemptionscontained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively,as the fair market value of the insider participation does not exceed25% of the Company’s market capitalization as determined in accordance with MI 61-101. Thedirectors of the Company unanimously approved the Debt Settlement,with Mr. McLeod and Mr. Holbek abstaining with respect to theirparticipation. No materially contrary view or abstention was expressedor made by any director of the Company in relation thereto.

This press release shall not constitute an offer tosell or the solicitation of an offer to buy nor shall there be anysale of the securities in the United States or in any otherjurisdiction in which such offer, solicitation or sale would beunlawful. The securities have not been registered under the UnitedStates Securities Act of 1933, as amended, and may not be offered orsold in the United States absent registration or an applicableexemption from the registration requirements thereunder.

About Pacific Imperial Mines

Pacific Imperial is a mineral exploration company basedin Vancouver, Canada, engaged in the acquisition, exploration,evaluation and development of mineral properties in an acceptable riskenvironment. The Company’s current focus is on the Brownell propertyin Saskatchewan and the Babine and Fenton properties in B.C.

ON BEHALF OF THE BOARD OF DIRECTORS

“Chris McLeod”

Chris McLeod, CEO

For further information please contact:

Chris McLeod (604) 669 6332
Email: investor@pacificimperialmines.com

Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.

Cautionary NoteRegarding Forward-Looking Statements

This press release containsforward-looking statements with respect to the Company. By theirnature, forward-looking statements are subject to a variety of factorsthat could cause actual results to differ materially from theresults suggested by theforward-looking statements. In addition, the forward-lookingstatements require management to make assumptions and are subject toinherent risks and uncertainties. There is significant risk that theforward-looking statements will not prove to be accurate, that themanagement’s assumptions may not be correct and that actual resultsmay differ materially from such forward-looking statements.Accordingly, readers should not place undue reliance on theforward-looking statements.

Generally forward-looking statementscan be identified by the use of terminology such as “anticipate”,“will”, “expect”, “may”, “continue”, “could”,“estimate”, “forecast”, “plan”, “potential” andsimilar expressions. Forward-looking statements contained in thispress release may include, but are not limited to, the Companycompleting the Debt Settlement. These forward-looking statements arebased on a number of assumptions which may prove to be incorrectincluding, but not limited to the ability of the Company to obtainregulatory approval.

The forward-looking statementscontained in this press release are made as of the date hereof or thedates specifically referenced in this press release, where applicable.Except as required by law, the Company does not undertake anyobligation to update publicly or to revise any forward-lookingstatements that are contained or incorporated in this press release.All forward-looking statements contained in this press release areexpressly qualified by this cautionary statement.

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