Mr. Gordon Tainton reports

AZARGA METALS INCREASES NON-BROKERED PRIVATE PLACEMENT

Azarga Metals Corp., due to strong investor demand from sophisticated and corporate professional investors, has increased its non-brokered private placement, previously announced on Sept. 8, 2026, to gross proceeds of up to $2.94-million, an increase of $440,000 from the previously announced gross proceeds of up to $2.5-million.

Under the amended terms, the private placement consists of common shares at a purchase price of 18 cents per share for aggregate gross proceeds of up to $2.94-million.

Finders' fees may be payable on the private placement, subject to the acceptance of the TSX Venture Exchange.

The company intends to use the proceeds of the private placement to advance its exploration program on the company's 100-per-cent-owned high-grade copper-rich VMS (volcanogenic massive sulphide) Marg project, located within the Keno Hill silver district of Yukon, and general working capital purposes.

The securities issued in connection with the private placement will be subject to a four-month-and-one-day hold period under applicable securities laws. The private placement is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the exchange.

We seek Safe Harbor.