Kingman Minerals Ltd. Announces Closing of 1st Tranche of Non-Brokered Private Placement

Executive Summary

• Kingman Minerals closed the first tranche of its upsized non‑brokered private placement, issuing 7,136,471 units at $0.07 per unit for gross proceeds of $499,553.
• The net proceeds will fund general working capital and advance the Mohave Project (including the historic Rosebud Mine) – notably a NI 43‑101 technical report, drill plan updates, permit re‑applications, and related exploration activities.
• Insiders subscribed for 2,516,826 units ($176,178), constituting a related‑party transaction exempt from certain MI 61‑101 valuation and minority‑shareholder approval requirements.

Key Details

• Units Issued (First Tranche): 7,136,471 Units @ $0.07 per Unit → Gross proceeds: $499,553.
• Finder Compensation: Cash fee of $4,620 plus issuance of 66,000 non‑transferable finder warrants (exercise price $0.09 per share; exercisable until Sep 2, 2027).
• Upsized Offering Size: Up to 8,757,143 Units total → target gross proceeds ≈ $613,000.
• Planned Use of Net Proceeds:
• Preparation of NI 43‑101 compliant technical report.
• Updating and optimizing the previously permitted drill plan.
• Re‑applying for drill permits.
• Other exploration preparation activities for the Mohave Project/Rosebud Mine.
• Second Tranche Timing: Expected closing on or about Sep 10, 2025 for the balance of the private placement.
• Statutory Hold Period: All securities issued are subject to a four‑month hold period from issuance date.
• Related Party Transaction: Insiders subscribed for 2,516,826 Units → gross proceeds $176,177.82. Exemptions relied upon under MI 61‑101 (valuation and minority‑shareholder approval).
• Regulatory Conditions: Closing of the second tranche subject to receipt of all necessary regulatory approvals; additional finder fees may be paid in accordance with TSX Venture Exchange policies.

Notable Quotes

(No direct quotes were provided in the release.)