Mr. Robert Cameron reports

ENDURO METALS CLOSES $8.9 MILLION FINANCING

Enduro Metals Corp. has closed its previously announced best effort private placement and a concurrent private placement for aggregate gross proceeds of $8,851,654. Beacon Securities Ltd. acted as sole agent in connection with the offering.

The LIFE offering was composed of 9,375,000 non-flow-through units of the company at a price of 16 cents per NFT unit and 28,643,880 flow-through units of the company sold on a charitable flow-through basis at a price of 22 cents per FT unit for combined gross proceeds of $7,801,654. The offered securities were issued pursuant to Part 5A of National Instrument 45-106 (Prospectus Exemptions), as amended and supplemented by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). The concurrent private placement was composed of 6,562,500 NFT units at the NFT issue price for gross proceeds of $1.05-million on a private placement basis pursuant to other applicable exemptions from the prospectus requirements under Canadian securities laws.

Each NFT unit consists of one common share of the company and one-half of one common share purchase warrant of the company. Each FT unit consists of one common share of the company and one-half of one warrant, each of which qualify as a flow-through share for the purposes of the Income Tax Act (Canada).

Commencing on the 61st day after issuance, each warrant entitles the holder thereof to acquire one non-flow-through common share of the company at a price per warrant share of 24 cents for a period of 36 months from issuance.

The offered securities sold pursuant to the listed issuer financing exemption are not subject to resale restrictions under applicable Canadian securities laws. The NFT units issued pursuant to the concurrent private placement are subject to a statutory hold period of four months from the closing of the concurrent private placement in accordance with Canadian securities laws.

The company will use an amount equal to gross proceeds from the sale of the FT units to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures as such terms are defined in the tax act and as B.C. flow-through mining expenditures for purposes of the Income Tax Act (British Columbia) related to the company's projects in British Columbia, Canada, on or before Dec. 31, 2027. All qualifying expenditures will be renounced in favour of the subscribers, effective Dec. 31, 2026. The net proceeds from the sale of NFT units will also be used for exploration and development at the company's mineral projects and for working capital and general corporate purposes.

Insiders of the company participated in the offering and subscribed for a total of 625,000 offered securities. Participation by insiders constitutes a related-party transaction as defined in Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company has relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the securities issued under the offering to insiders, nor the consideration paid by insiders of the company exceeded 25 per cent of the company's market capitalization.

Beacon received a cash commission of $514,502.15, a corporate finance fee of $84,000 and 2,933,197 compensation options. Each compensation option entitles the holder thereof to purchase one common share of the company at an exercise price equal to 16 cents for a period of 36 months from the closing of the offering.

The offering is subject to the final approval of the TSX Venture Exchange.

About Enduro Metals Corp.

Enduro Metals is an exploration company focused on its Newmont Lake project, a 688-square-kilometre property located within the heart of British Columbia's Golden Triangle. Building on prior results, Enduro Metals' geological team has outlined multiple deposit environments of interest across the Newmont Lake project including high-grade epithermal/skarn gold along the McLymont fault and copper-gold alkalic porphyry systems at Burgundy and Andrei. The company maintains a broader portfolio of mineral projects across Canada, including the advanced Burn porphyry copper and gold project in Northern British Columbia.

We seek Safe Harbor.