Americore Announces Closing of First Tranche of LIFE Offering

Americore Resources Corp. (AMCO) closed the first tranche of its "best efforts" Listed Issuer Financing (LIFE) offering on July 7, 2026. The company raised gross proceeds of $1,007,794.90 from the issuance of 2,723,770 Units priced at $0.37 per Unit. Each Unit comprises one common share and one common share purchase warrant.

The investor warrants carry a $0.50 exercise price and expire on July 7, 2029. Proceeds from the transaction are designated for advancing the Trinity Silver Project in Nevada and for general working capital. Agent compensation includes a 7.0% cash commission totaling $62,985.82, plus 170,232 broker warrants and 54,475 corporate finance warrants, all exercisable at $0.37 until July 2029. The transaction remains subject to final acceptance by the TSX Venture Exchange.

Americore Resources Corp. (AMCO) issued a routine follow-up to its June 15 and June 29 announcements regarding the LIFE offering, a capital raise the market was already aware of. The $0.37 offering price represents a ~24% premium to the July 6 closing price of $0.29, a minor positive for existing shareholders that indicates management believes the current price is undervalued.

However, the issuance of ~2.72M new shares represents approximately 14% dilution on the current ~19.5M share count. Net proceeds will be reduced by agent fees and issuance costs, leaving roughly $900k-$950k for operations. This amount is sufficient for short-term exploration but confirms the company's reliance on continuous equity financings to fund its exploration roadmap. No material change to the project's technical status, resource estimate, or valuation is introduced.

Americore Resources Corp. (AMCO) is a mineral exploration company focused on the Trinity Silver Project in Pershing County, Nevada. The project covers a consolidated land position of approximately 22,700 acres, acquired through direct staking, options with Primus Resources, and agreements with Nevada Hills Gold LLC. The property encompasses a historic open-pit, heap-leach silver operation that produced ~5 million ounces of silver between 1987 and 1988.

A 2012 historic resource estimate outlined ~36 million ounces of silver-equivalent. The company is currently working to digitize legacy data, run AI-assisted 3D modeling, and conduct confirmation drilling to upgrade the resource classification from Inferred to Indicated. Management is also evaluating the monetization of historic surface stockpiles (~400,000 oz oxide and ~365,000 oz sulphide) as a potential near-term revenue source.