Pegmatite One arranges $400,000 private placement

Mr. Kelly Abbott reports PEGMATITE ONE LITHIUM AND GOLD CORP. ANNOUNCES PRIVATE PLACEMENT OFFERING Pegmatite One Lithium and Gold Corp. plans to offer, on a private placement basis, up to 2,962,963 units at a price of 13.5 cents per unit for total proceeds of up to $400,000. Each unit consists of one common share and one whole share purchase warrant. Each warrant is exercisable at a price of 20 cents per share for a period expiring two years from the date of issuance. All securities issued in connection with the offering will be subject to a four-month statutory hold period. The company may pay finders' fees in cash and/or share purchase warrants in accordance with the policies of the Canadian Securities Exchange. The proceeds of the offering will be used for exploration as well as general working capital purposes. Closing of the proposed offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval from the CSE. We seek Safe Harbor.