The TSX Venture Exchange has accepted for filing documentation pertaining to a private placement, completed by Twenty Mile Metals Inc. (Spinco), while being company's wholly owned subsidiary, of 5.2 million subscription receipts at 10 cents per receipt for the gross proceeds of $520,000. Each subscription receipt entitles the holder to, without further action or payment of additional consideration, upon the satisfaction of certain release conditions, receive one common share and one common share purchase warrant of Spinco. Each underlying warrant will be exercisable to acquire an additional Spinco share at a price of 15 cents per share for a period of 36 months, provided that in the event the closing price of the Spinco shares exceeds 25 cents per share for a period of 10 consecutive trading days, Spinco may give notice of the acceleration of the term of the warrants to a period of 30 days following such notice.

The release conditions applicable to the subscription receipts include, among other things, the receipt of the conditional approval of the exchange for the listing of the Spinco common shares.

For further details, please refer to the company's news releases dated Dec. 16, 2025, April 20, 2026, and April 24, 2026.