Sterling Metals Announces Closing of Private Placement to Accelerate Advancement of the Soo Copper Project

On November 26, 2025, Sterling Metals announced the closing of a previously announced and upsized private placement for aggregate gross proceeds of C$14,000,098. The financing consisted of: - 5,244,517 hard-dollar units at C$1.50 per unit. Each unit includes one common share and one-half of a purchase warrant. - 2,666,662 charity flow-through units at C$2.30 per unit. Each unit includes one flow-through share and one-half of a purchase warrant. - Each whole warrant is exercisable at C$3.00 for a period of 24 months.

The company stated it now has approximately C$15 million in its treasury. The proceeds will be used for general working capital and to fund Canadian exploration expenses at the Soo Copper Project.

The company also provided an operational update, noting that its summer-fall drill program totaled approximately 11,000 metres over 29 holes. All assays are pending and expected in the "coming weeks." Drilling is paused until early February to incorporate the new data into a winter program.

The closing of this C$14 million financing is a materially positive and critical de-risking event for Sterling Metals. While the closing itself was expected after being announced on November 5 and upsized on November 10, its completion solidifies the company's transformation following its game-changing discovery hole in September.

• Progression and Validation: The company's trajectory in 2025 has been remarkable. It began the year with a share consolidation and a small financing at C$0.25. The initial drill results in May and June confirmed a large porphyry system, but it was the September 29 news of drill hole MEPS-25-02 (262.5m of 1.05% CuEq, including 68.3m of 3.25% CuEq) that fundamentally re-rated the company. The ability to raise C$14 million at prices of C$1.50 (hard dollar) and C$2.30 (flow-through) validates this new, higher valuation and demonstrates strong investor confidence in the discovery.

• Financial Strength: With approximately C$15 million in cash, the company is fully funded to execute its aggressive exploration plans for at least the next 12-18 months. This removes any near-term financing overhang and allows management to focus solely on defining the scale of the Soo Copper deposit. The CEO has committed a minimum of $6.2 million (the flow-through portion) to exploration in the next year.

• Catalyst Pipeline: The news confirms that assays from 11,000 meters of drilling are pending. This is the most significant near-term catalyst. The market is waiting for confirmation that the high-grade mineralization seen in MEPS-25-02 has continuity and scale. The results from these 29 holes will be the primary driver of the share price in the coming months.

Compared to the company's position at the beginning of the year, this financing is a major success. It was executed from a position of strength, at a price level that reflects the new discovery, and provides more than enough capital to answer the critical geological questions about the project's potential.

Sterling Metals Corp. is a Canadian-based mineral exploration company focused on base and precious metals. Its flagship asset is the 100%-owned Soo Copper Project, located near Sault Ste. Marie, Ontario. The project is situated in a region with excellent infrastructure, including proximity to the Trans-Canada Highway, rail, and a deep-water port. The company made a significant high-grade copper-gold-silver-molybdenum porphyry discovery in September 2025. The company also holds the Adeline copper-silver project in Labrador and the Sail Pond silver-copper-lead-zinc project in Newfoundland. The Sail Pond project has a 2% NSR royalty held by Altius Minerals.