Silver Grail closes $996,360 private placement

Executive Summary

• Silver Grail Resources Ltd. completed a non-brokered private placement of 4,332,000 units at $0.23 per unit, raising gross proceeds of $996,360.
• The transaction includes significant insider participation, with Eric Sprott acquiring 2.5 million units and Director Barry Holmes acquiring 300,000 units.
• Proceeds will be used for exploration of properties in the Golden Triangle region of northwestern British Columbia and for general working capital.

Key Details

• Transaction Structure: Non-brokered private placement of 4,332,000 units.
• Price: $0.23 per unit.
• Gross Proceeds: $996,360.
• Unit Composition: Each unit consists of one common share and one full warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one additional share at an exercise price of $0.33 per share for a period of two years from closing.
• Hold Period: All securities are subject to a statutory four-month hold period.
• Regulatory Status: Conditionally approved by the TSX Venture Exchange on Nov. 12, 2025, subject to satisfactory closing.
• Fees: No finders' fees or commissions associated with the transaction.
• Use of Proceeds: Exploration of properties in the Golden Triangle region (northwestern British Columbia) and general working capital.
• Insider Participation (Eric Sprott):
  • Acquired 2,500,000 units for $575,000 via 2176423 Ontario Ltd.
  • Pre-transaction ownership: 2,500,000 common shares (~6.4% non-diluted).
  • Post-transaction ownership: 5,000,000 common shares and 2,500,000 warrants (~11.4% non-diluted; ~16.2% fully diluted assuming warrant exercise).
• Insider Participation (Barry Holmes):
  • Director acquired 300,000 units for $69,000.
• Related-Party Transaction Status:
  • Classified as a related-party transaction under TSX Venture Exchange and MI 61-101 policies.
  • Exemptions from minority shareholder approval and formal valuation requirements were relied upon under sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the consideration did not exceed 25% of the company's market capitalization.
• Company Operations Update:
  • Silver Grail holds a large portfolio in the southern Golden Triangle.
  • Participated in a drill program on the Ram property (jointly owned with Teuton Resources Corp.) during the 2025 field season.
  • Complete results from the Ram property drill program are expected before the end of 2025.

Notable Quotes

• None explicitly quoted in the text, though the text notes Mr. Sprott's intent: "Mr. Sprott has a long-term view of the investment, and may acquire additional securities... depending on market conditions, reformulation of plans and/or other relevant factors."