T2 Metals Announces Private Placement to Raise up to $1.1 Million

T2 Metals Corp. announced a non-brokered private placement (PP) to raise up to $1.1 million CAD. The financing consists of two types of units: - Hard Dollar (HD) Units: Up to 3,334,000 units at $0.30 per unit, for gross proceeds of up to $1,000,200. Each HD Unit comprises one common share and one common share purchase warrant. Warrants are exercisable at $0.45 for a period of 24 months. - Flow-Through (FT) Units: Up to 250,000 units at $0.40 per unit, for gross proceeds of up to $100,000. Each FT Unit comprises one flow-through common share and one common share purchase warrant. Warrants are exercisable at $0.45 for a period of 24 months.

The aggregate gross proceeds for the financing are up to $1.1 million. The proceeds will be used for exploration activities at the Shanghai gold-silver project and the Sherridon copper-gold project, to review new acquisition opportunities, and for general working capital. The securities issued will be subject to a four-month hold period. The financing is subject to TSX Venture Exchange approval.

This financing announcement is a routine yet positive development, as it directly addresses the company's short-term capital needs identified in its latest financial statements. The July 31, 2025, financial statements showed a cash balance of $964,135 and working capital of $360,065. With ongoing exploration activities at Sherridon and the newly acquired Shanghai project, and a Phase 1 drill campaign planned for Shanghai in 2026, a capital raise was anticipated and necessary to fund these commitments and general working capital requirements.

The terms of the private placement, particularly the HD units at $0.30, are at a discount to the recent trading price of $0.35 (as of 2025-11-11 close). While this provides capital, it implies immediate dilution for existing shareholders at a lower price point. The FT units are priced higher at $0.40, reflecting the tax benefits. The warrants at an exercise price of $0.45 are out-of-the-money relative to the HD unit price and the current stock price, meaning they offer potential future capital to the company if the stock price appreciates but also represent future dilution risk.

The stated use of proceeds is in line with the company's recent strategic moves, which include the acquisition and initial fieldwork at the Shanghai gold-silver project (completed field program, awaiting assays as of 2025-10-30) and ongoing exploration at the Sherridon VMS project (recent drill results from June 4, 2025, showed high-grade gold and silver, and the Q1 2025 program completed in March). The mention of "review new acquisition opportunities" suggests a continued growth strategy, which could either be value-accretive or further strain capital resources.

Overall, this financing ensures the company can continue its planned exploration programs for the foreseeable future, which is crucial for a junior explorer. However, it highlights the continuous reliance on external funding and the associated dilutive impact. It does not materially change the company's fundamental risk profile but sustains its operational runway.

T2 Metals Corp. (TSXV: TWO) is a mineral exploration company focused on base and precious metals projects in North America. Its portfolio primarily consists of three projects: - Sherridon Copper-Gold Project (Manitoba, Canada): This has historically been the flagship project, located in the Flin Flon-Snow Lake VMS (Volcanogenic Massive Sulphide) Greenstone Belt. The project has a significant mining history with two former mines and five historical copper-rich mineral resources. Recent drill programs (Q4 2024, Q1 2025) have yielded high-grade copper, zinc, gold, and silver intersections, including a new zone of high-grade gold and silver mineralization without significant copper or zinc, suggesting broader prospectivity. T2 Metals has earned a 90% interest in the project. - Shanghai Gold-Silver Project (Yukon, Canada): Recently acquired in September 2025 under an option agreement to earn 100%. Located in the prolific Tombstone Gold Belt, the project is characterized by high gold and silver soil anomalies, with no prior drilling. It has Class 3 permits in place for immediate drilling. The acquisition marked a significant strategic shift for the company and is likely to become a primary focus. Renowned Yukon explorer Shawn Ryan joined the advisory board in conjunction with this acquisition. - Copper Eagle Project (Nevada, USA): A 100%-owned porphyry copper target in the Walker Lane mineral belt. Fall 2024 rock chip samples returned encouraging copper and silver results, with plans for geophysics to delineate drill targets. This project adds diversification to the company's asset base.

The company is in the exploration and evaluation stage for all its projects, meaning it is focused on identifying and delineating mineral resources rather than production.