Toronto, Ontario–(Newsfile Corp. – March 23, 2026) – Paragon Advanced Labs Inc. (TSXV: PALS) (“Paragon” or the “Company”), has introduced a new laboratory offering in British Columbia, combining PhotonAssay™ with Veracio’s rapid, non-destructive scanning to deliver fast, cost-effective whole rock geochemistry. This approach is helping exploration teams access data earlier and make decisions while drilling programs are still active.
The approach is designed to address a key constraint facing exploration across the province with limited drilling windows and delays in receiving laboratory results during peak periods.
British Columbia’s drill season is shaped by weather and access conditions, leaving companies with a defined window to complete field programs each year. During peak activity, traditional assay workflows can take weeks, limiting the ability to adjust drilling programs in real time. Paragon’s model is focused on reducing that bottleneck with more information without additional sample preparation.
Samples prepared for PhotonAssay™ are presented to the Veracio scanner in the same sample containers, where high-energy scanning enables rapid detection of a broad range of elements. The combined process gives geologists access to consistent datasets sooner, supporting earlier interpretation and enabling drilling decisions to be adjusted while programs are still underway.
Peter Shippen, CEO of Paragon, said the focus is on ensuring data is delivered in a timeframe that can influence decisions in the field.
“In British Columbia, time is limited each field season. If results come back too late, the opportunity to act on them is gone. Our focus is on getting data back fast enough to influence what happens next.”
PhotonAssay™ provides rapid, non-destructive gold analysis, removing the need for traditional fire assay processes that can slow turnaround during busy periods. The addition of whole rock geochemistry through scanning supports timely decisions while drilling programs are still underway, rather than after the season has finished.
Within Paragon’s increased service offering, the integration of PhotonAssay™ and Veracio’s scanning supports a more efficient path from sample receipt through to result delivery, helping exploration teams make more informed decisions earlier in the drilling process.
Paragon was established as a technology-enabled laboratory, focused on integrating new analytical methods into practical use that align with how exploration programs operate in the field.
Shares for Service
The Company further announces that it has entered into a shares-for-services agreement dated February 4, 2026 (the “Agreement”) with Clarus Securities Inc. (“Clarus”) for advisory services rendered to the Company and completed on March 15, 2026, in the amount of $240,000.00.
Pursuant to the Agreement, an aggregate of 80,000 common shares (the “Shares”) are issuable at a deemed price of $3.00 per Share, being the closing price of the Company’s common shares on March 20, 2026, in accordance with the policies of the TSX Venture Exchange (the “Exchange”).
The Shares will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws and Exchange policies.
The issuance of the Shares under the Agreement is subject to the approval of the Exchange.
About Paragon Advanced Labs Inc.
Paragon Advanced Labs Inc. provides innovative analytical technologies to the global mining industry. By embracing new technology, the Company is addressing critical capacity bottlenecks in mineral assaying through the deployment of PhotonAssay™ technology and complementary analytical solutions. The Company delivers faster, more accurate, and cost-effective mineral analysis for mining operators worldwide.
ON BEHALF OF THE BOARD OF DIRECTORS OF PARAGON ADVANCED LABS INC.
Peter Shippen
Chief Executive Officer and Director
Paragon Advanced Labs Inc.
For more information, contact:
Peter Shippen, Chief Executive Officer and Director
Email: peter.shippen@paragongeochem.com
Forward-looking Statements
This news release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on expectations, estimates and projections as of the date of this news release and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this release may include, but are not limited to, statements regarding the Company’s plans, business objectives, strategy, financial or operational performance, exploration or development programs, future market conditions, and other future events or conditions.
Forward-looking statements are often identified by words such as “anticipate,” “believe,” “expect,” “estimate,” “intend,” “may,” “plan,” “project,” “should,” “will,” and similar expressions. These statements are not guarantees of future performance and involve risks and uncertainties, including those described in the Company’s public filings available under its profile on SEDAR+. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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