Pacton Gold Shareholders Approve Plan of Arrangement with Trillium Gold Mines Inc.

VANCOUVER, BC / ACCESSWIRE / June 2, 2023 / PACTON GOLD INC. (TSXV:PAC)(OTC PINK:PACXF)(FSE:2NKM) (the "Company" or "Pacton") announces the voting results of its special meeting, called for shareholders of Pacton (the "Shareholders") to vote on the Arrangement Resolution (as defined below) held on June 2, 2023 (the "Meeting").

At the Meeting, Shareholders were asked to consider, and if thought fit, to pass a resolution (the "Arrangement Resolution") to approve the proposed plan of arrangement (the "Arrangement") with Trillium Gold Mines Inc. ("Trillium"), pursuant to which Trillium has agreed to acquire all of the issued and outstanding common shares of Pacton ("Pacton Shares") on the basis of 1.275 of Trillium common shares per Pacton Share under the terms of the Arrangement. The Arrangement Resolution required the approval of at least 66⅔% of the votes cast by the Shareholders present in person or represented by proxy at the Meeting.

The Arrangement was approved by the required majority of the votes cast by the Shareholders eligible to vote at the Meeting. No Shareholders exercised dissent rights with respect to the Arrangement Resolution.

Pacton will be seeking a final order from the Supreme Court of British Columbia with respect to the Arrangement on June 6, 2023. For a more detailed description of the Arrangement, please refer to the Company's management information circular dated May 2, 2023.

About Pacton Gold Inc.

Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high-grade mineral resource properties in Ontario, Canada. The Company also owns a strategic portfolio of prospective projects in Western Australia.

Visit Pacton's website at www.pactongold.com.

About Trillium Gold Mines Inc.

Trillium Gold Mines Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts. The Company recently closed acquisitions effectively extending its contiguous land position over more than 100 km of favourable structures on trend with Kinross Gold's Great Bear Project and Evolution Mining's Red Lake Operation. In addition, the Company has interests in highly prospective properties in Larder Lake and Shining Tree, Ontario.

ON BEHALF OF THE BOARD OF DIRECTORS

Nav Dhaliwal, President, CEO and Director
Pacton Gold Inc.

For further information on Pacton, contact:

Telephone: 604-678-5308
Email: info@pactongold.com

Forward Looking Statements:

This news release includes certain "forward‐looking information" and "forward‐looking statements" (collectively "forward‐looking statements") within the meaning of applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs and current expectations of the Company. All statements in this news release that address events or developments that the Company expects to occur in the future are forward‐ looking statements. Forward‐looking statements are statements that are not historical facts and are often identified by words such as "expect", "anticipate", "potential" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "might", "can", "could", or "should" occur, and include information regarding expectations regarding the potential benefits of the Arrangement and the ability of the combined company to successfully achieve business objectives; and expectations regarding the application for the final court order in respect of the Arrangement and the anticipated closing thereof. Forward‐looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond the Company's control. These forward‐looking statements are qualified in their entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's audited annual financial statements and related MD&A for the financial year ended November 30, 2022 and the three months ended February 28, 2023 and 2022, and the management information circular dated May 2, 2023 in respect of the Meeting, all filed with the securities regulatory authorities in certain provinces of Canada and available under the Company's profile at www.sedar.com. The risk factors are not exhaustive of the factors that may affect the Company's forward‐looking statements. The Company's forward‐looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management of the Company at such time. The Company does not assume any obligation to update forward‐looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward‐looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward‐looking statements. Accordingly, undue reliance should not be placed on forward‐looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Pacton Gold

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