Vancouver, British Columbia – TheNewswire - April 23, 2021 – Pacific Imperial Mines Inc. (TSXV:PPM) (OTC:PCIMF) (“Pacific Imperial” or the “Company”) announces that, further to its news release of March 31, 2021, and subject to the final approval of the TSX Venture Exchange (the “Exchange”), it has closed its non‑brokered private placement (the “Private Placement”) raising gross proceeds of $193,000 through the issuance of 3,860,000 flow-through units (each a “FT Unit”) at a price of $0.05 per FT Unit.  Each FT Unit consists of one flow-through common share and one transferable common share purchase warrant (a “Warrant”) with each Warrant exercisable to purchase one additional common share (a “Share”) in the capital of the Company at a price of $0.10 per Share for a period of two years.

The Company paid finder’s fees of $15,200 and 304,000 finder’s warrants (the “Finder’s Warrants”) to Canaccord Genuity Corp.  The Finder’s Warrants are non-transferable and exercisable at $0.10 per Finder’s Warrant for a period of two years.

All securities issued in the Private Placement are subject to a hold period of four months and one day following the closing date of the Private Placement.

The Company intends to use the gross proceeds of the Private Placement for payments related to the work programs on the TREK 31 Project, which includes Induced Polarization (IP) geophysical surveying across the source area of the till anomaly to target areas of anomalous chargeability and resistivity for identification of drill targets.

Technical details on the TREK 31 Project have been previously released by Orogen Royalties Inc. and can be found at:  https://www.orogenroyalties.com/news/orogen-options-the-trek-31-gold-project-to-pacific-imperial-mines

About Pacific Imperial Mines

Pacific Imperial is a mineral exploration company based in Vancouver, Canada, engaged in the acquisition, exploration, evaluation and development of mineral properties in an acceptable risk environment.

The Company’s current focus is on the acquisition of gold and base metal properties. The Company’s, board of directors, management team and technical advisors have collective geological and financing experience exceeding 200 years.

ON BEHALF OF THE BOARD OF DIRECTORS

“Chris McLeod”

Chris McLeod, President

For further information please contact:

Roman Shklanka, Chairman, at 604-649-6195, or Chris McLeod, President, at 604-669-6332

Email: investor@pacificimperialmines.com

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.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.  Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES