New Target completes $500,000 private placement

Mr. Jim Greig reports NEW TARGET ANNOUNCES PRIVATE PLACEMENT New Target Mining Corp. has completed its previously disclosed non-brokered private placement, raising gross proceeds of $500,000 through the issuance of 10 million units at a price of five cents per unit. Each unit consists of one common share of the company and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of six cents for a period of 12 months from the date of issuance. The proceeds of the offering will be utilized to retire existing payables, to address audit and public disclosure costs, and to provide general working capital to support the operations of the company. No finders' fees were paid in connection with the offering. All securities issued pursuant to the offering are subject to a statutory hold period of four months and one day, in accordance with applicable securities laws. Certain insiders participated in the offering, acquiring at total of 690,000 units. Such subscriptions by insiders of New Target for a portion of the offering constitute a related party transaction for the purposes of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101), but the company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the subscription, insofar as it involves the insiders of the company, does not exceed 25 per cent of the market capitalization of the issuer, as determined in accordance with MI 61-101. The offering did not result in the creation of a new control person. For further information with regards to the offering, please refer to the company's news release dated June 4, 2025, available for viewing on the company's profile on SEDAR+. About New Target Mining Corp. New Target Mining is a mineral exploration company, focused on the acquisition, exploration and development of mineral resource properties. We seek Safe Harbor.