Metalero Mining (MLO) Announces Extension of Private Placement

Executive Summary

• Metalero Mining Corp. applied to the TSX Venture Exchange for an extension of price protection on its non‑brokered private placement to December 9, 2025 to complete subscriptions.
• The offering comprises up to 1,428,572 flow‑through units at $0.21 per unit; the first tranche closed on October 21, 2025 with 952,381 units sold.
• Proceeds will fund Fall 2025 exploration work at the Benson Project (sampling and ground geophysics).

Key Details

• Offering Size: Up to 1,428,572 flow‑through units (“FT Units”).
• Unit Composition: Each FT Unit = 1 flow‑through common share + 1 common share purchase warrant.
• Pricing: $0.21 per FT Unit.
• Warrant Terms: Right to purchase one additional non‑flow‑through common share at $0.26, exercisable for two years from issuance.
• First Tranche Close: October 21, 2025 – 952,381 FT Units sold.
• Extension Request: Price protection extended to December 9, 2025 pending TSX Venture Exchange approval.
• Use of Proceeds: Support Fall 2025 exploration at the Benson Project (further sampling and ground geophysics).
• Tax Treatment: All FT Shares qualify as flow‑through shares under the Canada Income Tax Act; BC‑qualified investors may claim BC flow‑through mining expenditures.
• Hold Period: Securities issued have a hold period expiring four months and one day after closing date.
• Finder’s Fees: Company may pay arm’s‑length finders in accordance with TSX Venture Exchange policies.

Notable Quotes

“The extension of price protection will enable us to complete the financing needed to advance our exploration program at Benson, positioning Metalero for continued growth.” – Rob L'Heureux, CEO & President.