Camino Announces C$5.6 Million Investment with Strategic Investors

On November 12, 2025, Camino Minerals announced it has raised C$5.6 million through a private placement of 15,554,666 common shares at a price of C$0.36 per share. The financing included strategic investments from EMX Royalty Corp. and Continental General Insurance Company. The placement did not include any warrants. The use of proceeds is designated for corporate working capital, legal expenses, engineering studies, project financing costs, and general administrative expenses.

Concurrently, the company is issuing 5,833,334 shares at the same C$0.36 price to vendors related to the Puquios project acquisition agreement dated October 4, 2024.

This financing is a material positive event that significantly de-risks the company's short-term outlook. The C$5.6 million cash injection addresses the critical working capital deficit identified in the April 30, 2025 financial statements (C$853,249 deficit) and further evidenced by the company's need to defer acquisition-related payments in its October 8, 2025 announcement. By shoring up the balance sheet, Camino can now focus on advancing its flagship Puquios project towards a construction decision.

The quality of the financing is high for a junior developer: - Strategic Investors: The participation of EMX Royalty, a well-respected peer in the mining industry, provides strong technical validation for Camino's assets. - Favorable Terms: The C$0.36 issue price represents a strong valuation relative to the stock's trading range over the past year, and the absence of warrants is a sign of investor confidence, minimizing future potential dilution.

This funding provides the necessary runway for Camino to complete key de-risking milestones for the Puquios project, specifically the engineering studies and legal work required to secure a major project debt facility. While this raise does not address the full US$142 million construction cost for Puquios, it is a crucial and necessary step to attract that larger financing package. The news directly addresses the most pressing risk—imminent insolvency—and puts the company back on track to advance its primary asset.

Camino Minerals is a Canadian-based copper company with a dual-asset strategy. - Flagship Project (Development): The Puquios Copper Project in Chile. This is a 50/50 joint venture with Nittetsu Mining. The project is construction-ready, fully permitted for construction, and supported by a positive Pre-Feasibility Study (PFS) from March 2025. The PFS outlines a 14.2-year mine life with a post-tax NPV8 of US$118 million and an initial capital cost of US$142 million. This project is the company's primary value driver and path to becoming a producer. - Secondary Project (Exploration): The Los Chapitos Copper Project in Peru. Camino holds 100%, with partner Nittetsu Mining earning a 35% interest by funding C$10 million in exploration (C$8.5 million funded to date). The project has shown promising high-grade copper and silver mineralization at surface, but drilling has yet to define an economic deposit.