Mr. Dwayne Yaretz reports

NORTH ATLANTIC TITANIUM CLOSES FINAL TRANCHE OF $1.25 MILLION PRIVATE PLACEMENT FINANCING TO ADVANCE THE EVERETT TITANIUM PROJECT IN QUEBEC

North Atlantic Titanium Corp. has closed the final tranche of its previously announced upsized and oversubscribed non-brokered offering for gross proceeds of $750,000, pursuant to which the company issued 12.5 million units of the company at a price of six cents per unit.

Pursuant to the offering, the company raised aggregate gross proceeds of $1.25-million in a combination of:

• 12.5 million units of the company at a price of six cents per unit; each unit consists of one common share of the company and one common share purchase warrant; and
• 6.25 million flow-through units of the company at a price of eight cents per FT unit; each FT unit consists of one common share that will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one warrant.

Each warrant entitles the holder thereof to purchase one common share at an exercise price of 10 cents per warrant share for a period of 24 months from the date of issuance.

The net proceeds from the sale of units will be used to finance the initial option payment for the Everett titanium property in Quebec, working capital and general corporate purposes. The gross proceeds from the sale of FT units will be used for surface exploration, metallurgical testing and verification of historical exploration work at the Everett property. Upon permitting, diamond drilling is planned for selected locations in the northern extremity of the Everett oxide body.

Dwayne Yaretz, chief executive officer of North Atlantic Titanium, commented: "We are pleased to have successfully closed this offering and would like to sincerely thank our existing shareholders for their continued support while also welcoming new shareholders to the company. This represents a significant milestone in advancing our project and creating long-term value for our shareholders as we work to unlock the potential of the Everett project to strengthen and reshore Western critical mineral supply of high-value titanium metal."

The entire gross proceeds from the issue and sale of the FT units will be used for Canadian exploration expenses as flow-through critical mineral mining expenditures as such term is defined in the tax act, which will be incurred on or before Dec. 31, 2026, and renounced with an effective date no later than Dec. 31, 2025, to the initial purchasers of FT units, and if the qualifying expenditures are reduced by the Canada Revenue Agency, the company will indemnify each FT unit subscriber for any additional taxes payable by such subscribers as a result of the company's failure to fully renounce the qualifying expenditures as agreed.

Insiders of the company subscribed for a total of 783,317 units. Participation by the insiders constitutes a related-party transaction as defined under Multilateral Instrument 61-101. The company is relying on the 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 as the fair market value of the participation in the offering by the insiders does not exceed 25 per cent of the market capitalization of the company as determined in accordance with MI 61-101.

In connection with the final tranche, the company paid an aggregate of $24,963.20 in finders' fees and issued 416,053 finders' warrants to certain finders. Each finder's warrant entitles the holder thereof to purchase one unit at an exercise price of six cents for a period of 24 months following its date of issuance.

In addition, as consideration for financial and strategic advisory services, the company paid Research Capital Corp. an advisory fee of $100,000, plus applicable taxes. The advisory fee was paid through the issuance of 1,666,666 units on the same terms of the offering.

All securities issued pursuant to the offering and advisory fee will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders' fees are both subject to approval by the exchange.

Adviser

Research Capital acted as financial adviser to North Atlantic Titanium.

About North Atlantic Titanium Corp.

North Atlantic Titanium is a Canadian publicly traded exploration company focused on advancing the Everett titanium deposit in Quebec. The company also holds a 100-per-cent interest in the Sleeping Giant South project, located in the Abitibi greenstone belt, approximately 75 kilometres south of Matagami, Que. As well, the company is currently assessing two option agreements to acquire up to 80 per cent of the silver, zinc, lead XWG and LMM properties, and an exploration agreement at the WLG mine, all located in Henan province, China.

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