Meryllion arranges $600,000 private placement

Executive Summary

• Meryllion Resources Corp. announced a non-brokered private placement of up to 12 million common shares at $0.05 per share, targeting gross proceeds of up to $600,000.
• The company intends to use the proceeds to finance exploration activities and working capital, specifically to fund a drilling program for its ionic adsorption rare-earth elements (REE) projects in Tasmania.
• CEO Richard Revelins highlighted recent high-grade rare-earth discoveries by adjacent peer ABX Resources, positioning Meryllion's nearby leases as a low-risk exploration opportunity with drilling results anticipated within 60 days of closing.

Key Details

• Transaction Structure: Non-brokered private placement of up to 12 million common shares.
• Price: $0.05 per share.
• Gross Proceeds: Up to $600,000.
• Oversubscription: The placement may be oversubscribed.
• Use of Proceeds: Financing exploration activities and working capital purposes.
• Finders' Fees: May be payable to eligible arm's-length persons in accordance with Canadian Securities Exchange (CSE) policies.
• Regulatory Conditions: Closing is subject to CSE approval and other required regulatory approvals.
• Hold Period: All shares issued are subject to a four-month and one-day hold period under applicable securities laws.
• Drilling Timeline: A fully budgeted drilling program is ready to commence upon closure, with results anticipated within 60 days.
• Strategic Context: The financing supports exploration of Meryllion's ionic adsorption REE projects in Tasmania, which are located along strike and adjacent to ABX Resources' Deep Leeds resource.
• Peer Comparison: ABX Resources recently reported MREC containing 4.0% dysprosium (Dy) and 0.7% terbium (Tb) as a percentage of total rare-earth oxides (TREO), which is more than twice that of any other peer MREC, with high heavy rare earths and low impurities.
• Additional Projects: Meryllion holds rights to acquire up to 100% interest in Westbury and Tasmanian Strategic Green Metals IAC REE projects (approx. 800 sq km in NE Tasmania) and the Makenzie gold/silver/antimony project in Nevada.

Notable Quotes

• "We have been closely following our immediate neighbours ABX Resources (ASX: ABX), who sit along strike and adjacent to Meryllion's leases... Meryllion already has drilling permits in place and has a fully budgeted drilling program ready to commence upon the closure of private placement. It is anticipated that drilling results would be available within 60 days of closure." — Richard Revelins, CEO
• "Drilling Meryllion's ionic adsorption REE is proposed as a highly valuable and low-risk exploration opportunity whilst the company awaits permitting approvals for drilling its Makenzie antimony/gold/silver project in Nye county, Nevada." — Richard Revelins, CEO