Meryllion Announces New Non-Brokered LIFE Financing

• Latest Announcement (April 28, 2026): Meryllion Resources announced a new non-brokered private placement of up to 43.5 million units at $0.05 per unit, targeting gross proceeds between $1,000,000 and $2,175,000.
• Offering Terms: Each unit includes one common share and one warrant exercisable at $0.07 for 36 months. Closing expected on or about May 8, 2026.
• Finder Fees: Research Capital Corporation engaged as exclusive finder with an 8% cash fee plus finder's warrants.
• Context of Cancellation: This offering follows the cancellation of a nearly identical "LIFE Offering" announced March 13 and amended April 9, which was cancelled on April 24 due to "prevailing market conditions."
• Use of Proceeds: Funding exploration and development costs (Makenzie project in Nevada; Westbury and Tasmanian REE IAC projects) plus working capital.

• Dilution Risk: The issuance of up to 43.5 million units at $0.05 represents significant dilution for existing shareholders, particularly given the company's history of frequent financings (Dec 2025, Jan 2026, Mar/Apr 2026).
• Execution Friction: The rapid cycle of announcing an offering, cancelling it four days prior due to market conditions, and immediately re-announcing with similar terms signals management's inability to gauge market appetite or secure capital efficiently. This churn creates uncertainty regarding the company's liquidity stability.
• Valuation Alignment: The offering price ($0.05) aligns closely with recent trading prices ($0.04-$0.05), suggesting no significant discount was required, but also indicating limited upside momentum to justify new capital at current levels.
• Operational Catalysts: No new drilling results or permitting milestones accompany this financing announcement; it is purely a liquidity event without immediate operational validation to support the valuation.

• Flagship Projects:
  • Makenzie Gold/Silver/Antimony Project (Nye County, Nevada): Exploration stage, permitting for drilling planned Q1 2026.
  • Westbury and Tasmanian REE IAC Projects (Tasmania, Australia): Ionic adsorption clay hosted rare earths project; drilling underway February 2026 (~400m reconnaissance).
• Development Status: Early exploration stage. No production revenue reported in provided data. Reliance on equity financing for operations.
• Management: Richard Revelins (CEO), Mark J. Pryor (Qualified Person).