Mr. Jim Coates reports

YUKON METALS CLOSES C$13 MILLION FINANCING

Yukon Metals Corp. has completed its previously announced best efforts agency based private placement, consisting of: (i) 6,885,964 flow-through (FT) units of the company at a price of 57 cents per FT unit; and (ii) 18.05 million units of the company at a price of 50 cents per hard-dollar (HD) unit, for aggregate gross proceeds of approximately $13-million. The FT units and the HD units are collectively referred to herein as the offered securities.

Each offered security consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of 75 cents until June 11, 2028. Each common share and one-half of one warrant comprising the FT units qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)).

"The completion of this financing provides the capital to advance drilling at our copper-gold properties," says the company's chief executive officer, Jim Coates. "Funds will also support target generation across our broader Yukon portfolio."

The offering was co-led by ATB Cormark Capital Markets and Canaccord Genuity Corp. on behalf of a syndicate of agents, including Haywood Securities Inc. The agents received a cash commission equal to 6.0 per cent of the gross proceeds of the offering, excluding the approximately $1.4-million worth of offered securities sold to purchasers settling directly with the company on which a cash commission was not paid. Approximately $4.70-million worth of offered securities were sold to certain purchasers identified by the company on a president's list. As additional consideration for their services, the agents were also issued compensation warrants equal to 6.0 per cent of the number of offered securities issued pursuant to the offering, other than with respect to offered securities issued to direct settlers for which no compensation warrants were issued. Each compensation warrant entitles the holder thereof to subscribe for one common share at a price of 50 cents until June 11, 2028. The compensation warrants are subject to a hold period of four months and one day from the closing of the offering, in accordance with applicable Canadian securities laws, expiring on Oct. 12, 2026.

The company, pursuant to the provisions in the tax act, shall use an amount equal to the gross proceeds of the sale of the FT units to incur Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as both terms are defined in the tax act prior to Dec. 31, 2027. The company shall renounce the qualifying expenditures so incurred to the purchasers of the FT units effective on or before Dec. 31, 2026.

The company intends to use the net proceeds from the sale of the HD units for a drilling campaign on its AZ and Birch properties, and for working capital and general corporate purposes.

Certain insiders of the company acquired an aggregate of 2,117,000 offered securities and as such the offering is considered a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company has relied on exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the insiders' participation in the offering, as such participation does not exceed 25 per cent of the company's market capitalization. The company will file a material change report in respect of the completion of the offering. However, the company did not file such a material change report 21 days prior to closing of the offering as the participation of insiders of the company in the offering had not been confirmed at that time.

About Yukon Metals Corp.

Yukon Metals is well financed and represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold Corp.'s portfolio of primary gold assets. The Yukon Metals portfolio consists primarily of copper-gold and silver-lead-zinc assets, with a substantial tungsten, gold and silver component. The company is led by an experienced board of directors and management team across technical and finance discipline.

Yukon Metals is focused on fostering sustainable growth and prosperity within Yukon's local communities, while simultaneously enhancing stakeholder value. The company's strategy centres around inclusivity and shared prosperity, offering both community members and investors the chance to contribute to, and benefit from, its ventures.

We seek Safe Harbor.