Tintina Mines Announces C$91 Million Private Placement and Strategic Partnership with the Gignac Family and Sumitomo Corporation for the Development of the Domeyko Sulfuros Copper-Gold Project in Chile

On June 2, 2026, Tintina Mines announced a proposed C$91 million private placement of subscription receipts priced at C$0.68 per receipt – a premium to the last close of C$0.62. The financing is anchored by a new investment vehicle funded equally by Sumitomo Corporation and the Gignac family (via G Mining Capital, the origination platform of G Mining Services). Franco‑Nevada participates with ~C$14 million, and Canaccord Genuity sources another ~C$17 million. The deal also includes acquisition of the 26.25% minority interest in Andean Belt Resources SpA (which holds the Domeyko Sulfuros project), consolidating 100% ownership. Proceeds will advance Domeyko to a Final Investment Decision (FID) and fund the minority buy‑out. In addition, the agreement triggers a board reconstitution (5 directors, two Anchor Investor nominees), the appointment of Claude Dufresne as CEO, and the engagement of G Mining Services as engineering/construction contractor. Shareholder approval is required for the related‑party minority acquisition, control‑person status, and management changes; a special meeting is targeted for mid‑August 2026, with closing of the receipt issuance expected mid‑July. If conditions are not met within 90 days, proceeds are returned.

This is a transformative event for Tintina Mines. The partnership with Sumitomo, the Gignac family, and Franco‑Nevada brings world‑class mining development and financial capability to a project that until now was controlled almost entirely by a single insider (Juan Enrique Rassmuss, 89% voting rights). Consolidating 100% of the Domeyko Sulfuros asset eliminates the minority discount and simplifies decision‑making. The C$0.68 offering price – at a premium to market – signals deep confidence from the incoming strategic group and resets the equity story. With a fully funded path to FID (C$55 million earmarked), the project’s US$560 million pre‑tax NPV (8%) and 26‑year mine life now have a realistic chance of being developed. The dilution is significant (roughly 134 million new shares, nearly doubling the outstanding), but the market capitalization post‑money would still be modest relative to the project’s value, and the warrants (exercise prices at C$0.80 and C$1.00) provide additional upside and alignment. The board and management overhaul, combined with G Mining’s operational excellence, materially de‑risks execution. In the context of previous news – the PEA in February 2026 was a positive but expected milestone, and the 2025 drilling update was routine – this news far exceeds expectations and constitutes a game changer for the company’s risk profile, valuation, and fundamental outlook.

Tintina Mines Limited is a Canadian junior explorer focused on its 100%‑owned (post‑transaction) Domeyko Sulfuros copper‑gold porphyry project in the Atacama region of Chile. The project has a PEA (February 2026) outlining a 26‑year, 35 ktpd open‑pit operation producing 945 kt Cu and 1.5 Moz Au over life‑of‑mine, with a pre‑tax NPV₈% of US$560 million and after‑tax NPV of US$328 million. The resource stands at 100.8 Mt M&I (0.35% Cu, 0.28 g/t Au) and 256.3 Mt Inferred (0.34% Cu, 0.24 g/t Au). The project benefits from seawater processing (63 km pipeline), renewable power, and excellent infrastructure (near Route 5, ports). Exploration upside exists at the Tricolor and María Soledad targets. Prior to this news, the company sold its non‑core Sudbury property and maintained a going‑concern warning while being controlled by the Rassmuss family.