T2 Metals Closes Oversubscribed Private Placement of $1.468 Million

On December 11, 2025, T2 Metals Corp. announced the closing of a previously announced and upsized private placement. The financing was oversubscribed, raising total gross proceeds of C$1,468,770. The placement consisted of: - 4,562,567 hard dollar (HD) units at C$0.30 per unit for proceeds of C$1,368,770. Each unit includes one common share and one full warrant exercisable at C$0.45 for 24 months. - 250,000 flow-through (FT) units at C$0.40 per unit for proceeds of C$100,000. Each unit includes one flow-through common share and one full warrant exercisable at C$0.45 for 24 months.

The proceeds will be used for exploration at the Sherridon copper-gold project in Manitoba, the Shanghai gold-silver project in the Yukon, and for general working capital. Insiders of the company participated in the financing.

The closing of this oversubscribed financing is a routine but positive development for an exploration-stage company. The C$1.47 million raised removes the near-term financing overhang identified in the July 31, 2025 financial statements (which showed cash of C$964k and working capital of C$360k) and provides sufficient capital to advance key projects through 2026.

• Positive Aspects: The financing was upsized from the initially announced C$1.1 million (Nov 12) to C$1.47 million (Dec 3) and was oversubscribed, indicating healthy investor demand. Participation by insiders signals management's confidence. The funds are earmarked for advancing the company's two primary assets, particularly the highly prospective, newly-acquired Shanghai project in the Yukon.

• Neutral/Negative Aspects: This is a necessary operational step, not a transformative event. The financing was conducted at C$0.30, in line with the market price at the time, offering no premium. The most significant negative is the dilution and the creation of a substantial warrant overhang. The placement adds approximately 4.8 million shares and another 4.8 million warrants. This brings the total number of outstanding warrants to approximately 13.9 million, which will likely act as a ceiling on the stock price, particularly as it approaches the C$0.45 exercise price.

Overall, the news is positive as it ensures the company is funded for its upcoming exploration plans. However, it does not fundamentally change the company's valuation or de-risk the assets; it simply provides the fuel to undertake that work. The market's reaction should be neutral to slightly positive, as a financing was expected and is now complete.

T2 Metals is a junior mineral exploration company with a portfolio of projects in North America. The company has two primary focus projects: 1. Shanghai Gold-Silver Project (Yukon): Acquired via option in September 2025 from renowned prospector Shawn Ryan, who has joined T2's advisory board. This is now arguably the company's flagship project due to its location in the prolific Tombstone Gold Belt, proximity to major deposits (Banyan Gold, Sitka Gold), and high-grade historical surface samples. It is an early-stage, undrilled project with significant discovery potential. The project has a 2% NSR royalty to the optionors, half of which (1%) can be purchased for C$1 million. 2. Sherridon Copper-Gold Project (Manitoba): A more advanced Volcanogenic Massive Sulphide (VMS) project in the Flin Flon-Snow Lake Greenstone Belt. The property hosts two past-producing mines and five historical mineral resources (not NI 43-101 compliant). T2 has completed several drill programs, confirming and extending known high-grade copper-zinc mineralization and recently identifying a new style of high-grade gold-silver mineralization. The company has earned a 90% interest in the project.