Azarga Metals arranges $500,000 private placement

Mr. Gordon Tainton reports AZARGA METALS ANNOUNCES FOLLOW-UP NON-BROKERED PRIVATE PLACEMENT Azarga Metals Corp. has arranged a non-brokered private placement of up to 3,703,703 units at a price of 13.5 cents per unit for gross proceeds of up to $500,000. Each unit consists of one common share of the company and one-half of one share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at a price of 20 cents per warrant share for a period of two years from closing of the private placement. The company intends to use the proceeds of this private placement, combined with the $1-million private placement closed on Feb. 11, 2026, to prepare an exploration program on the company's 100-per-cent-owned high-grade copper-rich volcanogenic massive sulphide Marg project located within the Keno Hill silver district of the Yukon territory and general working capital purposes. Finders' fees may be payable on the private placement, subject to the acceptance of the TSX Venture Exchange. The securities issued in connection with the private placement will be subject to a four-month-and-one-day hold period under applicable securities laws. The private placement is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the exchange. Insider participation Certain insiders of the company are expected to participate in the private placement, and, as a result, the private placement may constitute a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Shareholders in Special Transactions). The company expects to rely on the exemptions from the formal valuation requirements of MI 61-101 contained in Section 5.5(a) and (b) of MI 61-101 on the basis that the fair market value of the transaction with insiders will not be more than 25 per cent of the market capitalization of the company and no securities of the company are listed on a specified market set out in such section, and the company further relies on the exemption from the minority shareholder approval requirements of MI 61-101 contained in Section 5.7(1)(a) of MI 61-101 on the basis of the fair market value of the transaction with insiders will not be more than 25 per cent of the market capitalization of the company. We seek Safe Harbor.