PINE VALLEY PAYS DIVIDEND ON COMMON SHARES

Vancouver - Pine Valley Mining Corporation ('Pine Valley') announces that it has paid the cash dividend of CDN$0.04 per share (aggregating to CDN$3,029,315.12) on its issued and outstanding 75,732,878 common shares, to its shareholders holders of record at the close of business on June 9, 2022, as first announced on May 31, 2022.

For income tax purposes, the dividend was not designated as an eligible dividend under Canadian income tax rules. In this regard, Pine Valley does not provide tax or financial advice. Investors should contact their financial advisors for situation-specific advice.

Contact:

Mark Smith

Tel: [phone]

Email: [e-mail]

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