Mr. Jim Coates reports

YUKON METALS ANNOUNCES C$10M PRIVATE PLACEMENT

Yukon Metals Corp. has entered into an agreement with ATB Cormark Capital Markets, on behalf of itself and Canaccord Genuity Corp., as co-lead agents, and on behalf of a syndicate of agents, including Haywood Securities Inc., in connection with a best efforts private placement for aggregate gross proceeds of up to $10-million.

The offering will consist of the issuance and sale of:

1. Flow-through (FT) units in the capital of the company at a price of 57 cents per FT unit, for gross proceeds of up to $2.5-million. Each FT unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each common share and one-half of one warrant comprising the FT units will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada));
2. Units of the company at a price per hard-dollar (HD) unit of 50 cents for gross proceeds of up to $7.5-million. Each HD unit will consist of one common share and one-half of one warrant.

Each warrant issuable under the offering will entitle the holder thereof to purchase one common share at a price of 75 cents for a period of two years following the closing date (as defined below). For the avoidance of doubt, the common shares underlying the warrants shall not qualify as flow-through shares as defined in Subsection 66(15) of the tax act.

The FT units and the HD units are collectively referred to herein as the offered securities.

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 mining expenditures as both terms are defined in the tax act after the closing date and 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.

The offered securities will be offered for sale by way of private placement pursuant to Part 5A of National Instrument 45-106, Prospectus Exemptions, and Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, in each of the provinces of Canada and Yukon. The agents will also be entitled to offer the HD units for sale (or resale) in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in those other jurisdictions outside of Canada and the United States provided that no prospectus, registration statement or similar document is required to be filed, or no continuing reporting requirement, or requisite regulatory or governmental approval, arises in such other jurisdictions.

There is an offering document with respect to the offering that can be accessed under the company's profile on SEDAR+ and the company's website. Purchasers of the offered securities will have the benefit of the offering document and the rights provided under the LIFE. Prospective investors should read this offering document before making an investment decision.

The offering is expected to close on or about June 11, 2026, or on such other date as may be agreed to by the company and the agents, subject to compliance with applicable securities laws. Notwithstanding the foregoing, the closing date must occur no later than the 45th day following the date of this news release.

The completion of the offering is subject to customary conditions, including, but not limited to, the negotiation of an agency agreement between the parties with respect to the offering and the receipt of all necessary approvals, inclusive of (if applicable) the approval of the Canadian Securities Exchange.

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.

Yukon

Yukon is an underexplored and minerally endowed district with a mining history dating back to the Klondike gold rush of 1898. With a progressive permitting regime, geopolitical stability and supportive government, it is well positioned to foster the next generation of mines. Yukon is host to a highly experienced and conscientious local work force, fostered by a long culture of exploration coupled with deep respect for the land. Recent major discoveries with local roots such as Snowline Gold Corp.'s Rogue project -- Valley Discovery, demonstrate Yukon's potential to generate fresh district-scale mining opportunities.

We seek Safe Harbor.