Kingman increases private placement to $1.5-million

Mr. Simon Studer reports KINGMAN MINERALS LTD. ANNOUNCES UPSIZED $1.5 MILLION Kingman Minerals Ltd. has upsized its previously announced non-brokered follow-on private placement (see news release dated Sept. 9, 2025) due to continued and strong investor demand. Total gross proceeds of the offering are expected to be up to $1.5-million, increased from the initially planned $500,000. The company will issue up to 21,428,571 units at a price of seven cents per unit. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at an exercise price of nine cents per share for a period of 24 months from the closing date. Use of proceeds The net proceeds of the offering will be used to finance continued exploration and development activities at the company's Mohave project, including diamond drilling, geophysics, geochemical sampling and permitting, as well as for general working capital. The Mohave project includes the historic high-grade Rosebud mine in Mohave county, Arizona, where bonanza-grade underground sampling of up to 688 grams per tonne gold and 468 g/t silver has been previously reported. Finders' fees The company may pay finders' fees equal to 6.0 per cent of the gross proceeds and issue finders' warrants equal to 6.0 per cent of the number of units sold. Each finder's warrant will entitle the holder to purchase one common share of the company at a price of nine cents for a period of 24 months from the date of closing. Closing conditions The closing of the offering is subject to all necessary regulatory approvals, including approval of the TSX Venture Exchange. All securities issued under the offering will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws. Related-party participation It is anticipated that certain insiders of the company may acquire units under the offering. Any such participation will be considered a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company will rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) on the basis that the fair market value of the participation by insiders will not exceed 25 per cent of the company's market capitalization. About Kingman Minerals Ltd. Kingman is a publicly traded exploration and development company focused on precious metals in North America. The company's flagship project is the 100-per-cent-owned historic Rosebud mine, located in the Music Mountains, Mohave county, Arizona. High-grade gold and silver veins were discovered in the area in the 1880s and were mined mainly in the late 1920s and 1930s. Underground development on the Rosebud property included a 400-foot shaft and approximately 2,500 feet of drifts, raises and crosscuts. The company believes that further exploration drilling and sampling along strike and depth extensions of existing and additional vein structures are essential to fully evaluate the project's potential. We seek Safe Harbor.