CopAur Minerals Announces Equity Financing up to $3,000,000

On October 23, 2025, CopAur Minerals announced a non-brokered private placement to raise up to $3,000,000. The financing will consist of up to 30,000,000 units priced at $0.10 each. Each unit includes one common share and one full common share purchase warrant. Each warrant entitles the holder to purchase an additional common share at an exercise price of $0.20 for a period of 24 months. The warrants include an acceleration clause, allowing the company to accelerate the expiry date if the stock trades at or above $0.30 for 10 consecutive days.

The proceeds are intended for the development program at the Kinsley Mountain gold property, permitting for exploration at the Troy Canyon property, and for general working capital.

Additionally, the company announced the grant of 650,000 stock options to directors, officers, employees, and consultants, exercisable at $0.15 per share for a term of five years.

This financing is a critical and necessary step for the company's survival. The latest available financial statements (for the period ending March 31, 2025) showed a dangerously low cash position of only $193,737, while the cash used in operating activities for the preceding nine months was over $1 million. Without this capital injection, the company's ability to continue as a going concern was in serious jeopardy.

From a critical perspective, the terms of the financing reflect the company's weak negotiating position. The $0.10 unit price is a discount to the previous day's closing price of $0.11 and is near the stock's all-time lows. The inclusion of a full warrant, compared to the half-warrant offered in financings earlier in the year, is a significant sweetener required to attract capital.

The issuance of up to 30 million new shares represents a potential 37% dilution to existing shareholders on a non-diluted basis. The accompanying 30 million warrants at $0.20 create a substantial overhang that will likely act as a ceiling on the share price for the foreseeable future.

Despite the highly dilutive nature and unfavorable pricing, the financing is rated "Material - Positive" because it provides a crucial lifeline. It gives the new management team, appointed in the third quarter of 2025, the runway to execute on its recently refocused strategy of advancing the flagship Kinsley Mountain project. The funds are earmarked for specific, value-additive steps like the development and permitting program, which aligns with the company's stated goals since pivoting away from other ventures in August 2025. This capital raise, while painful for existing shareholders, is the only viable path forward.

CopAur Minerals Inc. is a Canadian-based mineral exploration company focused on developing gold projects in Nevada.

The company's flagship asset is the 100%-owned Kinsley Mountain Gold Project, a past-producing mine (138,000 ounces from 1995-1999) with characteristics of a Carlin-style gold system. The project hosts a NI 43-101 compliant mineral resource estimate (effective May 2021) of 418,000 indicated ounces of gold at 2.63 g/t and 117,000 inferred ounces at 1.51 g/t. A significant high-grade portion, the Western Flank Zone, contains 302,000 indicated ounces at a grade of 6.11 g/t gold.

2025 has been a year of significant transition for CopAur. The company pivoted its strategy in August, cancelling a proposed acquisition in Georgia to refocus entirely on Kinsley Mountain. This was followed by a complete overhaul of the executive team, including the resignation of the CEO in July and the appointment of a new COO (August) and CEO (September) with experience in mine development and heap leach operations. The current strategy is to permit and conduct metallurgical testing on the historical heap leach pad to assess the potential for near-term production.