Mr. Joseph Cullen reports

METALSOURCE MINING CLOSES PRIVATE PLACEMENT

Further to the news release dated Dec. 24, 2025, Metalsource Mining Inc. closed the non-brokered private placement for total gross proceeds of $1.02-million on Dec. 31, 2025.

The company has allotted and issued 3.4 million units at a price of 30 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 40 cents for a period of two years from the closing date.

Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 3.4 million units pursuant to the offering for total consideration of $1.02-million. Prior to the offering, Mr. Sprott beneficially owned or controlled 7.5 million shares and 3.75 million warrants, representing approximately 12.7 per cent of the outstanding shares on a non-diluted basis and 17.9 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 10.9 million shares and 5.45 million warrants, representing approximately 17.5 per cent of the outstanding shares on a non-diluted basis and 24.1 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 may 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, 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.

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.