Azarga Metals Announces Non-Brokered Private Placement

On January 12, 2026, Azarga Metals Corp. (AZR) announced a non-brokered private placement to raise gross proceeds of $1,000,000 CAD. The financing consists of 10,000,000 units at a price of $0.10 per unit. Each unit includes one common share and one-half of a common share purchase warrant, with a full warrant exercisable at $0.20 for 24 months. The proceeds are earmarked for preparing an exploration program on the Marg copper-rich VMS project in the Yukon and for general working capital.

The impact of this news is routine but fundamentally necessary for the company’s survival and progression. - Liquidity Infusion: The $1M raise is critical. As of the last interim financial statements (March 31, 2025), the company held $760,157 in cash, but significantly higher liabilities were settled throughout 2025. Without this capital, the "significant potential" identified in the September 2025 Mineral Resource Estimate (MRE) would remain theoretical. - Valuation Benchmark: The $0.10 unit price represents a roughly 28% discount to the recent closing price of $0.14. While dilutive (representing approximately 11.5% of the pro-forma share capital), it establishes a floor for the stock. - Strategic Shift: This financing follows a year of corporate cleanup (MCTO revocation, debt settlement, and 100% project acquisition). It marks the transition from administrative recovery to active field exploration.

Azarga Metals is focused on its 100% owned Marg Project in the Central Yukon, Canada. The project is a high-grade, copper-rich volcanogenic massive sulphide (VMS) deposit. - Flagship Resource (Sept 2025): Indicated resource of 4.3Mt at 2.9% CuEq and Inferred resource of 10.0Mt at 2.3% CuEq. - Project Status: The deposit remains open to the east, west, and down-dip. The property includes additional prospective zones like the Jane zone.