PJX Resources' Dewdney Trail Property Sedex Deposit Potential Update and Warrant Extension

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TORONTO, ON / ACCESSWIRE / December 3, 2024 / PJX Resources Inc. ("PJX" or the "Company") is pleased to announce that iron rich minerals (pyrrhotite and pyrite) with copper (chalcopyrite) and minor to trace zinc (sphalerite) and lead (galena) discovered in a venting geological environment by recent drilling appears consistent with mineralisation typically found within a vent beneath Sedex (Sedimentary Exhalative) type zinc-lead-silver mineralisation. This first phase of drilling commenced in August this year after PJX received a five year permit to explore and drill the large Dewdney Trail Property near Cranbrook, BC. (see news release November 12, 2024)

Sedex deposits typically form where metal rich fluids rise from depth along pathways called vents that occur along faults. Deposit models suggest zinc and lead minerals (sphalerite and galena) are first to be deposited. Iron and copper rich mineralisation rise later along the vent and sometimes replace and/or remobilize zinc and lead and carry them higher in the venting system. The result is a zone of Sedex style zinc-lead-silver mineralisation above and/or laterally away from the location of iron and copper mineralisation. More drilling is required higher in the venting system which is higher on the mountain and laterally on strike to the south and north.

John Keating, President of PJX, commented, "Discovering iron and copper sulphide minerals within a venting geological environment supports a mineralizing system that could produce a Sedex type deposit, possibly similar to the Sullivan deposit located about 20 km to the west. The boulders discovered at surface late last year, in proximity to the drilling, are evidence that the mineralising system produced Sullivan style and grade zinc, lead, silver, and other critical metal mineralisation (see news release October 12, 2023). Additional information will be announced when drill core sample analyses have been received and compiled with drill core and other data to plan the next phase of drilling in 2025."

Warrant Extension
Subject to the approval of the TSXV Exchange, the Company intends to further extend the expiry date of 9,391,794 share purchase warrants, (the "Warrants") by 12 months to December 20, 2025. The Warrants were issued pursuant to a private placement accepted for filing by the TSX Venture Exchange on December 21, 2021. The Warrants are exercisable at $0.25 per share and are currently set to expire on December 20, 2024. All other terms of the warrants, including the exercise price, remain unchanged. Upon receipt of the approval of the TSXV Exchange, a material change report will be filed by the Company.