July 21, 2021 – TheNewswire - Vancouver, BC - PACIFIC ARC RESOURCES LTD. (NEX:PAV.H) ("Pacific Arc" or the "Company") announces that it has filed a civil claim in the Supreme Court of British Columbia against Faina Goldfields Inc. ("Faina") alleging that Faina is in breach of the terms of the letter of intent between the parties. Pacific Arc is, among other things, seeking damages from Faina for the loss of the proposed transaction.

ON BEHALF OF THE BOARD OF DIRECTORS

PACIFIC ARC RESOURCES LTD.

s/ “John MacPhail”

John MacPhail, President, CEO and Director

For further information, please contact:

John MacPhail, President, CEO & Director
Phone: (778) 688-7411

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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain forward-looking statements, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.