Pacific Booker Minerals Inc. Announces Closing of Non-Brokered Private Placement

Pacific Booker Minerals Inc. (TSXV: BKM) (OTC Pink: PBMLF) ("Pacific Booker" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement (the "Private Placement"), subject to final TSX Venture Exchange approval, raising gross proceeds of $4,000,001.90 through the issuance of 1,860,466 units ("Units") at a price of $2.15 per Unit. Each Unit consists of one common share of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share from the Company at a price of $2.37 per Common Share for a period of 36 months from the closing date of the Offering. The securities issued pursuant to the Private Placement are subject to a regulatory hold period of four months and one day from the closing date. The Company intends to use the net proceeds to advance the Morrison Project through the completion of: an updated NI 43-101 compliant mineral resource estimate; a comprehensive NI 43-101 compliant Pre-Feasibility Study designed to evaluate the technical and economic viability of the Morrison Project using updated geological, metallurgical, engineering, environmental and market assumptions; supporting geological, metallurgical, geotechnical, environmental and engineering programs; permitting and stakeholder engagement activities where appropriate; corporate communications; and general working capital. The Pre-Feasibility Study is expected to be supported by an updated NI 43-101 compliant mineral resource estimate prepared using current geological interpretations together with updated metal prices, operating cost assumptions, metallurgical recoveries and pit optimization parameters. The decision to advance the Morrison Project toward a Pre-Feasibility Study followed the recommendation of the Company's independent Technical Advisory Board after reviewing the available geological, metallurgical, engineering and environmental information, together with an internal conceptual-level technical and economic review prepared by Tetra Tech Canada Inc., site inspections and comprehensive drill core review. The Technical Advisory Board concluded that sufficient technical information exists to support advancing the Project to the Pre-Feasibility Study stage. The Board believes completion of an updated mineral resource estimate and Pre-Feasibility Study will provide a modern technical evaluation of the Morrison Project, improve the quality of information available and support the Company's ongoing strategic review process. Finder's fees in the aggregate amount of $15,824 will be paid in cash and 7,360 broker warrants will be issued in connection with the Private Placement. A director of the Company participated in the Private Placement by acquiring an aggregate of 46,512 Units at the offering price under the Private Placement, demonstrating continued alignment between insiders and shareholders. The sale of such Units to the director was approved by the disinterested directors of the Company and is exempt from the valuation and minority approval provisions of Multilateral Instrument 61-101 pursuant to Sections 5.5(b) and (c) and 5.7(1)(a), respectively, of such instrument. The scientific and technical information contained in this news release has been reviewed and approved by Leo Hathaway, P.Geo., Chairman of the Company's Technical Advisory Board, a Qualified Person as defined under National Instrument 43-101.