ATERRA Provides Update on Private Placement

Executive Summary

• ATERRA Metals revised its previously announced financing to a non‑brokered private placement of up to 139 million units at $0.02 per unit, targeting gross proceeds of up to $2.78 million.
• Each unit now contains one common share and ½ warrant (instead of a full warrant), with warrants exercisable at $0.05 per share for 36 months.
• Net proceeds will fund option payments, exploration at the Frontera, Taruca and Clinton copper‑gold projects, working capital and general corporate purposes; field work is slated to start Jan 2026 with a Phase I drill program in Q1 2026 and a preliminary 43‑101 resource estimate targeted for Q3 2026.

Key Details

• Offering Structure: Non‑brokered private placement (prospectus‑exempt), up to 139,000,000 units at $0.02/unit → max gross proceeds $2,780,000.
• Unit Composition: 1 common share + ½ warrant per unit (previously a full warrant).
• Warrant Terms: Exercise price $0.05 per share; exercisable for 36 months from issuance.
• Finder: Research Capital Corporation retained as exclusive finder; finder's fee ≤ 7% of purchases introduced by certain persons.
• Insider Participation: Insiders may subscribe for up to 8,500,000 units (≈ 6.1% of max units), qualifying as a related‑party transaction exempt from MI 61‑101 valuation and minority approval requirements.
• Closing Timeline: Expected closing week of Jan 12, 2026, subject to customary conditions.
• Use of Proceeds:
• Pay option fees on existing project interests.
• Fund exploration at Frontera, Taruca, and Clinton properties (field work beginning Jan 2026).
• Support working capital and general corporate purposes.
• Future Milestones:
• Commence Phase I drilling in Q1 2026.
• Target preliminary 43‑101‑compliant resource estimate by Q3 2026.
• Statutory Hold Period: Shares and warrants subject to a four‑month‑plus‑one‑day hold period from issuance.

Notable Quotes

“We are very pleased that our existing and prospective new investors participating in the Offering are supportive of ATERRA's vision for developing our portfolio of projects in Chile… This updated structure provides us with the flexibility to aggressively pursue those goals into 2026…” – Carl Hansen, CEO

All boilerplate, forward‑looking disclaimer text and “About the Company” sections have been omitted.