Silicon Metals closes first tranche of offerings

Mr. Morgan Good reports SILICON METALS CORP. CLOSES INITIAL TRANCHE OF ITS STRATEGIC NFT AND FT UNIT OFFERINGS FOR AGGREGATE GROSS PROCEEDS OF $145,000 Silicon Metals Corp., further to its news releases dated Oct. 9, 2025, has closed the initial tranche of its previously announced non-brokered private placements for gross aggregate proceeds of $145,000. The company intends to close the final tranche of the offering next week. In the first tranche, the company issued 1.5 million non-flow-through (NFT) units at a price of five cents per share for gross proceeds of $75,000. The non-flow-through units each consist of one common share of the company and one-half of a common share purchase warrant, with each whole warrant entitling the holder thereof to purchase a common share at an exercise price of six cents for a period of 24 months. The terms of the warrants also include an accelerator provision, whereby, if the price of the common shares on the Canadian Securities Exchange closes at 15 cents or higher for a period of 10 consecutive trading days, the company may accelerate the expiry date of the warrants to 30 days from the acceleration trigger. The company also issued one million flow-through (FT) units at a price of seven cents per share for gross proceeds of $70,000. The flow-through units each consist of one common flow-through share of the company and one-half of a common share purchase warrant, with each whole warrant entitling the holder thereof to purchase a common share at an exercise price of 10 cents for a period of 24 months. The terms of the warrants also include an accelerator provision, whereby, if the price of the common shares on the CSE closes at 15 cents or higher for a period of 10 consecutive trading days, the company may accelerate the expiry date of the warrants to 30 days from the acceleration trigger. The company intends to use the proceeds of the sale of the non-flow through units for general working capital purposes and proceeds of the sale of the flow-through units to incur eligible exploration expenditures on its projects in British Columbia and Ontario. Fees of $1,400 were paid and 20,000 finders' warrants were issued to certain finders in connection with the first tranche. Each finder's warrant is exercisable into one common share for a period of 24 months after the date of issuance at an exercise price of seven cents and include the same accelerator provision. All securities issued in connection with the offering will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45-102, Resale of Securities. About Silicon Metals Corp. Silicon Metals is currently focused on exploration and development in Canada, namely British Columbia and Ontario. The company's Maple Birch project, located approximately 30 kilometres southeast of Sudbury, Ont., is a high-purity quartz pegmatite project with a 3,000-tonne-per-year production permit. The company too holds an undivided 100-per-cent right, title and interest in the exploration-stage and now fully five-year drill permitted Ptarmigan silica project, located approximately 130 kilometres from Prince George, B.C. The company has also acquired an undivided 100-per-cent right, title and interest in both the exploration stage Silica Ridge silica project, located approximately 70 kilometres southeast from the town of MacKenzie in British Columbia, as well as the exploration-stage Longworth silica project, located approximately 85 kilometres east from Prince George, B.C. We seek Safe Harbor.