Mr. Matthew Gollat reports

ERRINGTON METALS ANNOUNCES CLOSING OF C$34.5 MILLION PRIVATE PLACEMENT

Errington Metals Corp. has closed its previously announced best effort brokered private placement offering for aggregate gross proceeds of $34,515,679.50, including the partial exercise of the option granted to the agents (as defined herein). In connection with the offering, the company issued an aggregate of: (i) 1,927,000 common shares of the company that qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) at an issue price of $5.19 per flow-through share, for gross proceeds of $10,001,130; and (ii) 7,004,157 common shares of the company at a price of $3.50 per offered common share, for gross proceeds of $24,514,549.50.

The company intends to use the net proceeds from the sale of the offered common shares for continued exploration of the company's Sudbury Basin project, and for general working capital purposes. The gross proceeds from the flow-through shares will be used by the company to incur eligible resource exploration expenses which will qualify as: (i) Canadian exploration expenses (as defined in the tax act); (ii) flow-through critical mineral mining expenditures (as defined in Subsection 127(9) of the tax act); and (iii) eligible Ontario critical mineral exploration expenditures within the meaning of Subsection 103(4.1) of the Taxation Act, 2007 (Ontario). Qualifying expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares will be incurred by the company on or before Dec. 31, 2027, and will be renounced by the company in favour of the initial purchasers of the flow-through shares with an effective date no later than Dec. 31, 2026.

The offering was led by Stifel Nicolaus Canada Inc., as co-lead agent and sole bookrunner, and CIBC World Markets Inc. and BMO Nesbitt Burns Inc., as co-lead agents, for and on behalf of a syndicate of agents that included Red Cloud Securities Inc., ATB Capital Markets Corp. and Beacon Securities Ltd. In consideration for their services, the agents were paid a cash commission equal to 6 per cent of the gross proceeds of the offering, other than the gross proceeds raised from the sales of offered common shares to purchasers included on a president's list of up to $5-million of gross proceeds, in which case a reduced commission of 3 per cent of the gross proceeds was payable.

All securities issued under the offering are subject to a hold period expiring four months and one day from the date hereof. The offering remains subject to final acceptance of the TSX Venture Exchange.

Certain directors and senior officers of the company named below (collectively the insiders) purchased an aggregate of 18,585 offered common shares pursuant to the offering. Participation by the insiders in the offering was considered a related-party transaction pursuant to Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the insiders' participation in the offering pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of any securities issued to, nor the consideration paid by, the insiders exceeded 25 per cent of the company's market capitalization. The company did not file a material change report relating to the insider participation more than 21 days before the expected closing date of the offering as the details of the insider participation were not settled at such time and the company wished to close the offering on an expedited basis for sound business reasons.

About Errington Metals Corp.

Errington is a Canadian exploration and development company focused on advancing critical and precious metal opportunities. The company is progressing its wholly owned Sudbury Basin project, which hosts high-grade volcanogenic massive sulphide style mineralization in one of Canada's most established mining districts. Errington is advancing the project through systematic drilling, geological modelling and technical evaluation.

In 2026, the company is completing a 45,000-metre drill program designed to support an initial mineral resource estimate and test regional targets.

We seek Safe Harbor.