Mayo Lake to Accelerate Exploration on Prime Tombstone Gold Belt IRGS Properties

Executive Summary

• Mayo Lake Minerals Inc. announced a private placement of up to $300,000 in common share units (CS Units) and flow‑through units (FT Units), priced at $0.05 per unit.
• CS Units include one common share plus half a warrant (full warrant exercisable at $0.07); FT Units include one flow‑through share plus half a warrant (full warrant exercisable at $0.08).
• Proceeds will be used for working capital and general operating costs (CS Units) and eligible exploration expenditures qualifying as Canadian Exploration Expenses (FT Units), with closing targeted for October 17, 2025.

Key Details

• Offering Size: Up to $300,000 total gross proceeds.
• Unit Pricing: $0.05 per CS Unit and $0.05 per FT Unit.
• CS Unit Composition: 1 common share + ½ common share purchase warrant (full warrant exercisable into one common share at $0.07 for 36 months).
• FT Unit Composition: 1 flow‑through share + ½ common share purchase warrant (full warrant exercisable into one common share at $0.08 for 36 months).
• Use of Proceeds – CS Units: Primarily working capital and general operating costs.
• Use of Proceeds – FT Units: Eligible exploration expenditures qualifying as “CEE” under the Income Tax Act.
• Statutory Hold Period: Securities subject to a four‑month‑plus‑one‑day hold period in Canada after closing.
• Closing Date: Proposed closing on or about October 17, 2025, subject to director discretion and CSE approval.
• Offering Method: Best‑efforts basis, offered to eligible purchasers across all Canadian provinces and territories under prospectus exemptions.
• Contact Information:
• Vern Rampton, Ph.D., P.Eng., CEO & Chairman – [email protected] – Tel. 613‑836‑2594
• Darrell Munro, BBA, LL.B., Corporate Administrator – [email protected] – Tel. 613‑836‑2594
• Regulatory Disclaimer: Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Notable Quotes

(No direct quotes were provided in the release.)