Rackla receives $4.4-million from warrant exercise

Executive Summary

• Over 11 million warrants issued in the September 2023 private placement were exercised at $0.40 per share, generating approximately $4.4 million of cash for Rackla Metals.
• The company expanded its land position in the Northwest Territories from 7,525 ha to 23,175 ha, adding claims on the Grad, Ogre, Calypso and Lened properties.
• No drill results have been received yet for the three initial holes at the Grad project; results are expected after September 20 2025.

Key Details

• Warrant Exercise: 11 M+ warrants (expiry Sept 19 2025) exercised at $0.40/share → $4.4 M proceeds to the company.
• Land Expansion:
• Total holdings increased to 23,175 ha (up from 7,525 ha).
• Grad property grew from 5,525 ha to 8,625 ha.
• Ogre property grew from 2,000 ha to 5,750 ha.
• Added Calypso (1 claim, 1,000 ha) and Lened (7 claims, 7,800 ha).
• Historical Resource: Lened tungsten skarn resource estimated at 900,000 t @ 1.0% WO₃ (non‑NI 43‑101 compliant).
• Drill Program Status: Three initial holes at Grad completed; results pending, expected after Sept 20 2025 (awaiting laboratory date).
• Community Relations: Ongoing consultation with Sahtu Dene and Métis communities to maintain collaborative relationships.

Notable Quotes

(No direct quotes were provided in the release.)