Volta Metals closes $1.54-million private placement

Executive Summary

• Volta Metals Ltd. closed an oversubscribed and upsized non-brokered private placement raising gross proceeds of $1,545,300, consisting of common units and flow-through units.
• The company is initiating a new drilling program at its Springer Rare Earth and Gallium deposit to update the mineral resource and potentially establish a gallium resource, with an updated estimate scheduled for Q4 2025.
• Proceeds from the flow-through units will be used for eligible Canadian exploration expenses, while net proceeds will support exploration, corporate purposes, and working capital.

Key Details

• Financing Structure:

  • Total Gross Proceeds: $1,545,300.
  • Common Units: 8,441,250 units issued at $0.08 per unit for $675,300.
  • Flow-Through (FT) Units: 8.7 million FT units issued at $0.10 per FT unit for $870,000.
  • Warrant Terms: Each unit includes one common share purchase warrant. Warrants allow purchase of one additional share at an exercise price of $0.15 per share for 24 months from closing.
  • Finder’s Fees: Aggregate commissions of $74,466 in cash and 822,325 finder warrants (exercise price $0.15, term 24 months) paid to finders.
  • Insider Participation: Insiders acquired an aggregate of 2.35 million FT units, constituting a related party transaction under MI 61-101.
  • Use of Proceeds: FT unit proceeds used for eligible Canadian exploration expenses (renounced to subscribers by Dec 31, 2025); net proceeds used for exploration, general corporate, and working capital purposes.
  • Regulatory Status: Closing subject to regulatory approvals, including the Canadian Securities Exchange (CSE). Securities subject to a statutory hold period of four months and one day.

• Springer Deposit Drilling Program:

  • Objective: Mobilizing a drill rig to test rare earth and gallium zones, update the resource, and establish a gallium resource.
  • Historic Resource: 4,167,000 tonnes (mt) at 1.073% TREO (Indicated) and 12.73 mt at 1.119% TREO (Inferred) at a 0.9% TREO cut-off.
  • Previous Intercepts:
    • Multiple wide, shallow intercepts >100m at >1% TREO.
    • Specific hole: 12m at 4.96% TREO.
    • Gallium intercepts: 87.5m at 76.4 g/t Ga and 88m at 62 g/t Ga (not modeled in previous resource).
  • Timeline: Updated resource estimate scheduled for completion in Q4 2025.

• Technical Review:

  • Qualified Person: Andrew Tims, PGeo.
  • Note: QP has not completed sufficient work to verify historical information.

Notable Quotes

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