Meryllion Announces Closing of LIFE Financing

• Meryllion Resources Corporation closed a non-brokered private placement on June 1, 2026, issuing 20.35 million units at $0.05 per unit for gross proceeds of $1,017,500.
• Each unit includes one common share and one warrant exercisable at $0.07, becoming exercisable on the 62nd day post-issuance and expiring in 36 months.
• Proceeds are allocated to exploration, development, and general working capital.
• The financing includes standard advisor compensation ($25,000 cash + 500,000 shares) and finder's fees ($81,400 cash + 1.628 million warrants).
• A related-party investment of $75,000 was made by Croesus Mining Pty Ltd., controlled by Director David Steinepreis.
• Historically, this offering was announced in March 2026, amended in April, cancelled in late April due to "prevailing market conditions," re-announced on April 28, and finally closed on June 1.
• Prior to this, the company raised approximately $575,750 in December 2025 and January 2026 through two tranches of private placements.
• Operational updates from February 2026 indicate drilling commenced on the Tasmanian IAC REE project, with results expected within 60 days. Permitting for the Makenzie project in Nevada is also underway.

• The financing is a necessary lifeline but carries a Routine - Negative impact due to execution friction and severe dilution. The cancellation and re-announcement in April signals weak market appetite and difficulty securing capital at the targeted price.
• The issuance of 20.35 million shares represents approximately 23.4% dilution on the existing ~87 million share base. Combined with finder's warrants and prior outstanding warrants, future dilution risk remains elevated.
• Post-financing cash position improves to approximately $1.018 million. However, given a semi-annual operating burn of ~$310,480 and capex of ~$182,404, the company has a cash runway of roughly two quarters. This necessitates another capital raise by late 2026 or early 2027.
• The $0.05 pricing reflects depressed market sentiment and lack of institutional interest. No strategic or high-profile investors participated, relying instead on insiders and retail/finder-sourced capital.
• The news does not alter the fundamental exploration-stage status of the company. It merely extends the timeline for potential drilling results without de-risking the projects.

• Meryllion Resources Corporation is a Canadian exploration-stage mining company focused on precious metals and critical minerals.
• Flagship Projects:
• Tasmanian IAC REE Project: Ionic adsorption clay hosted rare earths in northeastern Tasmania. Covers ~800 km². Historical outcrop sampling reported up to 3,500 ppm TREE, with high-grade dysprosium (163–276 ppm Dy₂O₃) and terbium (26–43 ppm Tb₄O₇). Drilling commenced in February 2026.
• Makenzie Project: Gold, silver, and antimony project in Nye County, Nevada. Permitting for drilling is underway.
• Westbury Project: Additional REE tenement in Tasmania.
• Development Stage: Early exploration. No resource estimates or feasibility studies have been announced. Management is focused on ground coverage and assay results to attract future capital or partners.