Lodestar Metals Closes Second Tranche of Financing

Executive Summary

• Lodestar Metals Corp. closed the second tranche of its non‑brokered private placement, issuing 3,139,667 units at $0.075 per unit for gross proceeds of $235,475.
• Each unit consists of one common share and half of a share purchase warrant; warrants allow purchase of additional shares at $0.12 for two years, with acceleration provisions if the VWAP reaches $0.15 for 10 consecutive trading days.
• Proceeds will be allocated to exploration and drilling on the Goldrun Project in Nevada and for general working capital.

Key Details

• Units Issued: 3,139,667 units @ $0.075 per unit → $235,475 gross proceeds.
• Unit Composition: 1 common share + ½ share purchase warrant (each whole warrant gives the holder the right to buy one additional share at $0.12).
• Warrant Terms: Unit Warrants exercisable at $0.12 per share for a period of two years from issuance; acceleration trigger if VWAP ≥ $0.15 for 10 consecutive trading days, with accelerated expiry set 30 days after notice.
• Resale Restrictions: Securities subject to resale restrictions until March 13, 2026.
• Finder Compensation: Cash fee of $900 paid to finders and issuance of 12,000 finder warrants, each exercisable at $0.12 per share for two years.
• Use of Proceeds: Funding allocated to exploration and drilling activities on the Goldrun Project (Nevada) and general working‑capital needs.
• Previous Announcements Referenced: Prior releases dated September 29, 2025; October 15, 2025; October 22, 2025; October 24, 2025 detailing the overall offering.

Notable Quotes

(No direct quotes were included in the release.)