Update to Tintina Mines Previous Announcement on June 2, 2026 of a C$91 Million Private Placement and Strategic Partnership with the Gignac Family and Sumitomo Corporation for the Development of the Domeyko Sulfuros Copper-Gold Project in Chile

Tintina Mines Limited has issued a procedural update regarding its previously announced C$91 million private placement of subscription receipts. The company is currently finalizing the definitive agreement to acquire the remaining 26.25% minority interest in Andean Belt Resources SpA (ABR), which is expected to be signed upon the closing of the offering.

The offering consists of subscription receipts priced at C$0.68 per unit, targeting aggregate gross proceeds of approximately C$91 million. It is scheduled to close on July 9, 2026, subject to standard conditions. To secure approval for the offering, the minority acquisition, and general business, Tintina has scheduled an Annual General and Special Meeting of shareholders for August 21, 2026.

Tintina Mines Ltd. (TTS) issued an update on July 2, 2026, marking a routine execution step following the June 2, 2026 announcement of a C$91 million financing and strategic partnership. The update did not introduce new financial terms, investor commitments, or project metrics, serving only to confirm the timeline for closing on July 9 and shareholder approval on August 21.

The market had already priced in the June 2 announcement, with the stock surging from approximately $0.62 to a high of $3.50 within two weeks. This follow-up confirms deal progression without altering the fundamental thesis. The development removes execution uncertainty regarding the minority interest acquisition and board reconstitution, though it does not constitute a new catalyst.

Tintina Mines Ltd. (TTS) is a Canadian junior explorer focused on the Domeyko Sulfuros copper-gold project in the Atacama region of Chile. The project is a brownfield site featuring prior oxide operations and exposed sulphide mineralization.

A Preliminary Economic Assessment (PEA) released in February 2026 outlines a 25-year open-pit operation at 35,000 tpd, yielding approximately 37kt Cu/yr and 57koz Au/yr. Base case economics show a pre-tax NPV of $560 million USD and an after-tax NPV of $328 million USD, assuming copper at $4.30/lb and gold at $2,500/oz.

The project features a 100% renewable energy strategy with battery storage and raw seawater processing via a 63-kilometer pipeline, eliminating continental water consumption. Tintina currently holds 73.75% of Andean Belt Resources SpA (ABR). The ongoing financing will acquire the remaining 26.25% interest, consolidating 100% ownership.