Teako Minerals arranges $400,000 private placement

Executive Summary

• Teako Minerals Corp. announced a non-brokered private placement for up to 6,153,846 common shares at 6.5 cents per share, raising up to $400,000 in gross proceeds, with $200,000 in insider commitments.
• The company provided updates on its Norwegian field programs, including mapping at the Venna and Lokken projects, and announced final planning for a scout drill program at the Fjellslett VMS target.
• Laboratory assay results from the initial Amot drill hole (AM-25-001) confirmed no significant copper, cobalt, or zinc mineralization compared to preliminary pXRF readings, though elevated arsenic values were detected; the company plans additional drilling to assess viability.

Key Details

• Financing Structure: Non-brokered private placement of up to 6,153,846 common shares.
• Price: 6.5 cents per common share.
• Gross Proceeds: Up to $400,000.
• Insider Participation: Lead commitments from insiders totaling $200,000.
• Use of Proceeds: Anticipated exploration activities and general working capital to pursue project deals and third-party work.
• Share Count Impact: Outstanding shares increase from 95,979,482 to 102,133,328 upon closing.
• Hold Period: Four-month-and-one-day hold period on common shares.
• Regulatory Conditions: Closing subject to CSE approval and customary conditions.
• Venna Project (100% owned): Fieldwork involves ground truthing geophysical anomalies; 49 samples taken, selected samples sent for assay.
• Lokken Project (90% owned): Focus on Dragset-Halsetasen Cu-Co-Zn VMS target; assessment of historical mine workings to identify extensions of mineralization. Evaluation expected to conclude by end of August 2025.
• Fjellslett VMS Target: Final planning underway for scout drilling in collaboration with The Coring Company AS and Innovasjon Norge. Located on western margin of Lokken property with outcropping high-grade Cu-Co±Zn mineralization.
• Amot Drill Results (Hole AM-25-001):
  • Samples sent to MSA Labs for multielement analysis.
  • Copper, Cobalt, Zinc: No significant mineralization confirmed, contradicting preliminary pXRF readings.
  • Arsenic: Elevated values ranging from 0 to 930 ppm (pathfinder element for Cu and Au).
  • Gold, Antimony: No significant values returned.
  • Conclusion: Additional drilling required to assess viability based on core attributes and downhole geophysics.
• Hoydal Drill Results (Hole HOY-25-001): Samples not sent for laboratory analysis.
• QA/QC Protocols: Samples dried, crushed to 70% passing 2mm, pulverized to >85% passing 75 microns. Analysis included Au, Pt, Pd fire assay (FAS-113) and four-acid digest (IMS-230). 5% QA/QC included standards, blanks, and duplicates.
• Qualified Person: Eric Roth, PhD, Fellow of AusIMM and SEG, reviewed and approved technical information under NI 43-101.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.