Forty Pillars Mining Corp. — Capital/Financing Update 2024

Sep 10, 2024

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Forty Pillars Mining Corp. Enters into Share Exchange Agreement to Acquire Tamed Ming Corp.

Vancouver, B.C. – September 9, 2024 - Forty Pillars Mining Corp. (CSE: PLLR) (the “Company” or “Forty Pillars”) is pleased to announce that it has entered into a share exchange agreement dated September 9, 2024 with Tamed Mining Corp. (“Tamed Mining”) and the shareholders of Tamed Mining to acquire 100% of the issued and outstanding common shares of Tamed Mining in consideration for an aggregate of 10,000,000 common shares of the Company at a deemed price of $0.0975 per share (the “Consideration Shares”). Tamed Mining is a privately held arm’s length party, incorporated in British Columbia that holds an interest in eleven mineral claims located in Quebec (the “Quebec Claims”) and three mineral claims located in Idaho.

The proposed transaction remains subject to customary conditions of closing, including the Company completing due diligence to its satisfaction and the approval of the Canadian Securities Exchange (if required), and is expected to complete shortly. There are no guarantees that the proposed transaction will be completed as contemplated or at all.

The Consideration Shares will be issued pursuant to an exemption from the prospectus requirements under applicable securities laws pursuant to Section 2.16 of National Instrument 45-106. 5,000,000 of the Consideration Shares issuable in connection with the acquisition, will be subject to a voluntary resale restriction for a period of four months from the date of issuance, and the balance of the 5,000,000 Consideration Shares issuable in connection with the acquisition will be free trading upon issuance.

Quebec Claims

The Quebec Claims are located on contiguous properties on the west side of Lac de la Corvette 315 km east of Wemindji, Quebec on James Bay and cover an area 565.22 hectares. The area is composed of Mesoarchean volcanic amphibolite (basalt and andesite) of the Rouget Formation, and Neoarchean paragneiss of the Marbot Formation, as well as the southern contact of the gneissic tonalite and diorite of the Pluton of Post de la Moyne. The Quebec Claims are approximately 11 km south of the prolific Shaakichiuwaanaan Project (formerly known as Corvette Project) hard rock lithium (spodumene) pegmatite discovery reported by Patriot Battery Metals Inc., considered one of the top 10 largest lithium pegmatite discoveries in the world (Patriot Battery Metals Inc. website).

Qualified Person

Harrison Cookenboo, Ph. D., P. Geo., is a non-independent qualified person for the purpose of National Instrument 43-101, has reviewed and approved the contents of this news release.

About Forty Pillars

Forty Pillars Mining Corp. is a Vancouver, B.C. based mineral exploration company focused on exploring the Silver Dollar Project located in the Greenwood Mining Division, B.C.

FOR FURTHER INFORMATION CONTACT:

Nader Vatanchi Chief Executive Officer

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e:nadervatanchi@hotmail.com

p: 778-881-4631

Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to the Company completing the acquisition of Tamed Mining, receipt of approval by the Canadian Securities Exchange, and the resale restrictions applicable to the Consideration Shares. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipates", "anticipated" "expected" "intends" "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.