Mr. Joseph Cullen reports

METALSOURCE MINING CLOSES PRIVATE PLACEMENT

Further to Metalsource Mining Inc.'s news release dated Sept. 15, 2025, it has closed the non-brokered private placement for total gross proceeds of $4-million whereby Eric Sprott is the lead order on the offering, subscribing for five million units totalling $1-million.

The company has allotted and issued 20 million units at a price of 20 cents per unit. Each unit consists of one common share of the company and one-half of one transferable share purchase warrant, with each warrant entitling the holder to acquire one additional common share at an exercise price of 30 cents for a period of three years from the closing date.

Mr. Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired five million units pursuant to the offering for total consideration of $1-million. Prior to the offering, Mr. Sprott beneficially owned or controlled 2.5 million shares and 1.25 million warrants, representing approximately 7.2 per cent of the outstanding shares on a non-diluted basis and 10.5 per cent of the outstanding shares on a partially diluted basis assuming exercise of such warrants.

As a result of the offering, Mr. Sprott now beneficially owns or controls 7.5 million shares and 3.75 million warrants, representing approximately 13.8 per cent of the outstanding shares on a non-diluted basis and 19.3 per cent of the outstanding shares on a partially diluted basis assuming exercise of such warrants.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of the early warning report with respect to the foregoing will appear on Metalsource Mining's profile on SEDAR+ and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario Ltd., 7 King St. East, suite 1106, Toronto, Ont., M5C 3C5).

The company intends to use the proceeds of the offering to advance exploration at the Silver Hill and Byrd-Pilot projects in North Carolina, with a primary focus on expanding Silver Hill's silver potential, to continue work on the company's Aruba manganese project in Botswana and for general working capital.

"With this financing complete, we are set to move forward aggressively across its key assets -- Silver Hill, Byrd Pilot and the Aruba project in Botswana. We intend to maintain strong momentum into 2026 and deliver meaningful progress for shareholders," said Joe Cullen, chief executive officer.

In connection with the offering, the company has paid finders' fees of $150,000 and issued an aggregate of 742,000 non-transferable broker warrants to arm's-length parties, with each broker warrant entitling the holder to acquire one additional common share at an exercise price of 30 cents for a period of three years from the closing date.

Additionally, and further to the company's news release dated Sept. 12, 2025, the company announces the closing of the option agreement with Goldstrike Minerals LLC, pursuant to which Goldstrike has agreed to grant an option to the company to acquire 100 per cent of Goldstrike's rights and interests in and to certain mineral lease agreements and mineral exploration licenses in the state of North Carolina. Pursuant to the transaction, the company has issued the initial three million shares to Goldstrike on closing.

The company has agreed to pay a finder's fee to arm's-length parties pursuant to the transaction, in the sum of 10 per cent of the value of the transaction and consisting of cash and shares. The company shall pay $2,500 and issue 300,000 shares as the initial finder's fee due at closing. The company shall pay the remaining finder's fee due upon each annual payment and share issuance due under the option agreement and will only be liable to pay the finder's fee if such payments are made.

All securities issued under the offering and transaction are subject to a hold period of four months and one day expiring on Feb. 10, 2026.

Futher, the company has entered into an agreement with Equitrend Data Inc., pursuant to which Equitrend will provide marketing services to the company in accordance with the policies of the Canadian Securities Exchange.

Under the terms of the agreement, Equitrend will receive total consideration of $350,000 (U.S.) for a three-month period or until such amounts have been expended. The company may elect to extend the agreement for an additional three months, under which Equitrend would receive an additional budget of $350,000 (U.S.) or until such amounts have been expended.

Equitrend's services will include pay-per-click campaign development, social media and e-mail marketing, the creation of landing pages, on-line banner, and native advertisements. These campaigns may be conducted on platforms such as Instagram, Facebook, YouTube or other digital channels. The principal of Equitrend is Sam Khabbazian and the company's address is 1223-329 Howe St., Vancouver, B.C., Canada, e-mail: info@equitrend-data.com, phone: 1-888-269-4724. Neither Mr. Khabbazian nor Equitrend have any interest, directly or indirectly in the company except for the ownership of 500,000 shares of the company.

About Metalsource Mining Inc.

The company is engaged in acquisition, exploration and development of mineral property assets. The company's objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the Aruba property. The Aruba property is located in the Kalahari Desert region of Botswana, covering 4,663 square kilometres in an area prospective for platinum group metals, gold, silver and manganese mineralization.

We seek Safe Harbor.