Vancouver, British Columbia--(Newsfile Corp. - October 6, 2026) - Pacific Bay Minerals Ltd. (TSXV: PBM) ("Pacific Bay" or the "Company") reports that the Company has received assay results from a program of exploration carried out atit's Weaver Lake Gold Property in southwestern BC, including a grab sample of a quartz vein that returned 26.7 parts per million (ppm) gold (0.78 opt Au) and 1,350 ppm Silver (39.4 opt Ag). The sample was taken approximately 130 metres east from the interpreted main vein system that was the target of past drilling and underground workings. Many other rock, soil and silt samples from an exploration program yielded anomalous values that are still being evaluated. The Weaver Lake Gold Property is under option to Aurwest Resources Corp. (CSE: AWR), who can earn 50% in the property over 3 years.

"The impressive early results from our modest program at Weaver are very encouraging," said Pacific Bay President & CEO David H. Brett. "We are now confident that a second phase of exploration will go ahead, including geophysical surveys."

Rock sampling (76 samples) returned high-grade precious-metal mineralization consistent with historically documented quartz-carbonate ± sulphide veins. The highest grade result was sample 82133, which assayed 26.7 ppm gold and 1,350 ppm silver together with 955 ppm lead and 604 ppm zinc. Additional mineralized samples include 82138 (0.29 ppm Au, 135 ppm Ag), 82119 (0.45 ppm Au, 18.15 ppm Ag), 82734 (0.32 ppm Au, 37.9 ppm Ag and 10.35 ppm Sb), 82737 (0.32 ppm Au, 80.3 ppm Ag, 711 ppm Pb, 1,080 ppm Zn) and 82124 (0.31 ppm Au, 19.65 ppm Ag). These high grade samples are mostly associated with comb and void-fill textured quartz veins up to 1 m thick (generally 2 - 10 cm thick) with trace to 1% pyrite (stockwork veinlets, vein-selvage, or disseminated). Vein mineralization was observed to be structurally controlled. The multi-element signature, including pathfinder elements, and the strong gold-silver correlation interpreted as characteristic of an intermediate-sulfidation epithermal Ag-Au (± Pb-Zn) system.

Rock sampling (76 samples) returned high-grade precious-metal mineralization consistent with historically documented quartz-carbonate ± sulphide veins. The highest grade result was sample 82133, which assayed 26.7 ppm gold and 1,350 ppm silver together with 955 ppm lead and 604 ppm zinc. Additional mineralized samples include 82138 (0.29 ppm Au, 135 ppm Ag), 82119 (0.45 ppm Au, 18.15 ppm Ag), 82734 (0.32 ppm Au, 37.9 ppm Ag and 10.35 ppm Sb), 82737 (0.32 ppm Au, 80.3 ppm Ag, 711 ppm Pb, 1,080 ppm Zn) and 82124 (0.31 ppm Au, 19.65 ppm Ag). These high grade samples are mostly associated with comb and void-fill textured quartz veins up to 1 m thick (generally 2 - 10 cm thick) with trace to 1% pyrite (stockwork veinlets, vein-selvage, or disseminated). Vein mineralization was observed to be structurally controlled. The multi-element signature, including pathfinder elements, and the strong gold-silver correlation interpreted as characteristic of an intermediate-sulfidation epithermal Ag-Au (± Pb-Zn) system.

Figure 1

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Soil sampling (approximately 247 samples) was designed to confirm and expand 1990s gold-in-soil anomalies using a modern multi-element digest and analysis (Aqua regia digestion on a 0.5g sample with ICP-AES analyses).

The top two gold anomalies are sample 2376357 (0.36 ppm Au, 7.28 ppm Ag, 145.5 ppm Pb, 29.8 ppm As) and sample 2376191 (0.23 ppm Au, 25.20 ppm Ag, 186.5 ppm Pb). Although absolute gold values are lower than some 1990s results (which reached multi-gram-per-tonne levels in a handful of samples analyzed for gold only), the 2026 data provide a consistent, georeferenced multi-element dataset to use for further targeting and understanding of the mineralized zone.

Nine stream-sediment (silt) samples collected from the principal drainages returned supporting anomalies. Sample 2376442 assayed 6.1 ppm Ag, 77.1 ppm Pb, 306 ppm Zn and 40 ppb Au; sample 2376447 defined a second pathfinder-rich catchment with 3.4 ppm Ag, 70.5 ppm Pb, 276 ppm Zn, 3.5 ppm Sb and elevated arsenic. These results align with regional British Columbia Geological Survey drainage anomalies and help vector toward source areas on the property.

Taken together, the 2026 rock, soil and silt results show that high-grade gold-silver mineralization remains present at surface, and occurs in a geological setting most consistent with an intermediate-sulfidation epithermal system. The new multi-element coverage will be integrated with historic drilling, underground workings and mapping to prioritize follow-up targets for the next phase of work. All samples were analyzed by ALS and quality-control procedures (blanks, standards and duplicates) were inserted in the sample sequence. Readers are cautioned that rock samples are selective and may not represent average grades, and that soil and silt values are reconnaissance in nature.

"With these encouraging Phase 1 results, we're looking forward to advancing our Weaver Lake exploration program to Phase 2, which contemplate expanded work, including geophysics," said Aurwest CEO Cameron MacDonald. "Weaver's location in southwestern BC is favorable for year-round exploration."

The technical disclosures in this news release were reviewed and approved by independent geological consultant David Bridge, P.Geo., a Qualified Person, as defined by National Instrument 43-101. David Bridge is not an officer, director or employee of the Company.

About Pacific Bay Minerals

Pacific Bay's 100% owned Haskins-Reed Critical Minerals Project in northwestern BC is one of the leading exploration projects in the Cassiar Region. Located next to Cassiar Gold Corp. on Highway 37, Haskins-Reed hosts tungsten, copper, bismuth, silver, lead, and zinc in multiple high-grade polymetallic zones, over 150 drill holes, underground workings, and significant exploration potential. Pacific Bay also recently signed an option agreement to acquire 100% of the Mount Haskins claims, adjoining Haskins-Reed directly to the north. The Company also owns 100% of the Weaver Gold project in southern BC, now under option/JV with Aurwest Resources Corp. whereby Aurwest can earn 50%.

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Source: Pacific Bay Minerals Ltd.