Pacific Booker Minerals Inc. Announces Non-Brokered Private Placement

Pacific Booker Minerals Inc. announced a non-brokered private placement to raise up to approximately $10.0 million in gross proceeds. The company will issue up to 4,273,505 units at a price of $2.34 per unit. Each unit consists of one common share and one common share purchase warrant.

The warrant terms include an exercise price of $2.75 per share, expiring 36 months from closing. The transaction involves related party participation and relies on MI 61-101 exemptions. No finder's fees or commissions are payable.

Lock-up periods include a 4 months and 1 day statutory hold, along with a 6 months contractual lock-up for subscribers. Closing is subject to TSX Venture Exchange approval and customary conditions. The proceeds will be used to advance the Morrison project and for general corporate purposes.

Pacific Booker Minerals Inc. (BKM) has announced a financing round that follows a $4 million raise in July 2026 and a $3 million raise in April 2026, aligning with the company's stated need to fund the Morrison Pre-Feasibility Study (PFS) and strategic review. The units were priced at $2.34, representing approximately a 19% discount to the recent trading range of $2.70–$3.05.

Proceeds from the transaction will extend the company's cash runway, mitigating near-term liquidity pressure and enabling the completion of the PFS expected in Q1 2027. The issuance of approximately 4.27 million warrants adds substantial overhang; if exercised, fully diluted shares will approach 25 million, increasing long-term dilution risk. The news is considered expected and incremental, as it does not alter the fundamental project status or resolve permitting hurdles, but it successfully bridges the company to the next technical milestone.

Pacific Booker Minerals Inc. (BKM) is a Canadian junior explorer focused on the 100%-owned Morrison Copper-Gold-Molybdenum project in central British Columbia. The company has engaged Tetra Tech for a preliminary feasibility study, with an updated resource estimate and mine planning currently underway.

The project’s resources include 208 million tonnes of Measured and Indicated material grading 0.39% copper, 0.19 grams per tonne gold, and 0.005% molybdenum, alongside 63 million tonnes of Inferred material. The total scale includes over 2 billion pounds of copper and 2 million ounces of gold.

Core samples have detected nine additional Canadian critical minerals, including cobalt, lithium, and scandium, as well as rare earth elements. However, commercial recoverability has not been demonstrated, and no valuation impact is assigned at this stage.

Regarding permitting, the Environmental Assessment Certificate was refused in February 2022. A new application requires active support from the Lake Babine Nation, which has not been secured.