(SeaPRwire) –   VANCOUVER, BC, April 2, 2026 – P2 Gold Inc. (“P2” or the “Company”) (TSXV: PGLD) (OTCQB: PGLDF) has announced that its wholly-owned subsidiary, P2 Gabbs Inc. (“P2 Gabbs”), finalized a definitive agreement (the “Definitive Agreement”) on April 1, 2026, with an independent private seller to acquire water rights located in the Gabbs Basin of Nevada.

Under the terms of the Definitive Agreement, P2 is set to acquire 2,500 acre-feet of water rights annually (the “Water Rights”). The finalization of this acquisition depends on the Nevada Division of Water Resources (“NDWR”) approving the transfer of the diversion points, usage locations, and usage type from irrigation to mining, milling, and dewatering purposes for the Gabbs Project. These Water Rights exceed the currently estimated process water needs for the Gabbs Project, providing additional capacity for future project growth.

The primary conditions of the Definitive Agreement remain the same as those previously detailed in P2’s announcement on March 25, 2026, titled P2 Gold Secures Water Rights for the Gabbs Project.

The NDWR is expected to approve the Water Rights transfer within six to twelve months, aligning with the scheduled completion of the Gabbs feasibility study by the end of the fourth quarter.

The total makeup water needs for the Gabbs processing facilities are estimated at 215 m³ per hour (roughly 1,500 acre-feet per year) based on a processing volume of 9 million tonnes annually. Further details can be found in the technical report titled “NI 43-101 Technical Report, Preliminary Economic Assessment, Gabbs Heap Leach and Mill Project, Nye County, Nevada, USA“, effective October 7, 2025 (the “Gabbs Technical Report”). This report is accessible via the Company’s profile on SEDAR+ at www.sedarplus.com and on the official website at www.p2gold.com.

Qualified Person

Ken McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer of P2 Gold, serves as the Qualified Person under National Instrument 43-101 for the Gabbs Project. Mr. McNaughton has reviewed, confirmed, and authorized the technical and scientific data presented in this announcement.

About P2 Gold Inc.

P2 Gold is a mineral exploration and development firm dedicated to advancing the gold-copper Gabbs Project situated on Nevada’s Walker Lane Trend, where feasibility study efforts are currently in progress. A positive preliminary economic assessment suggests a mid-sized, long-term mining operation at Gabbs, with an average yearly output of 109,000 ounces of gold and 15,000 tonnes of copper over a 14.2-year lifespan. The Gabbs Project benefits from robust infrastructure, including paved access via Hwy 361 and on-site power and water. All mineralized zones remain open, and an expansion and infill drilling initiative is currently underway. Following the conclusion of drilling, an updated Mineral Resource estimate for Gabbs is slated for completion in the third quarter.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as defined in Exchange policies) assumes responsibility for the truthfulness or accuracy of this announcement.

Forward Looking Information

This news release contains “forward-looking information” as defined by applicable securities laws, intended to be protected by the safe harbor provisions of those statutes. Such information includes terms like “will,” “expect,” “potential,” “anticipate,” “believe,” or similar expressions. This forward-looking data includes, but is not limited to, statements regarding the Company’s plans, strategies, and expectations for the Gabbs Project, including intended exploration, development, and permitting activities.

Forward-looking statements do not guarantee future results and are based on management’s current estimates and assumptions. These statements involve various known and unknown risks and uncertainties that could cause actual results or achievements to differ significantly from those projected. Risks include those inherent in mineral exploration and the possibility that the timing or results of development may vary from management’s expectations. For a detailed discussion of these risks, refer to the “Risk Factors” section in the Company’s annual information form for the year ended December 31, 2025, filed on SEDAR+.

The Company notes that forward-looking information may not prove to be accurate, and actual outcomes could differ materially. Consequently, investors are cautioned not to rely unduly on such statements. Unless required by law, the Company is under no obligation to update or revise any forward-looking information to reflect new events or circumstances.

SOURCE P2 Gold Inc.