Visionary Copper arranges $3-million private placement

Mr. Max Porterfield reports VISIONARY COPPER AND GOLD MINES INC. ANNOUNCES $3.0 MILLION PRIVATE PLACEMENT FINANCING FOR EXPLORATION CAMPAIGN AT PT. LEAMINGTON PROJECT, NFLD Visionary Copper and Gold Mines Inc. has arranged a non-brokered private placement of up to $3.0-million. The offering will be used to finance a drilling campaign at the company's 100-per-cent-owned Pt. Leamington project located in Newfoundland. The offering will consist of: (i) up to 1.56 million hard-dollar units at a price of 75 cents per HD unit for gross proceeds of up to $1.17-million; (ii) up to 1,333,333 flow-through units at a price of $1.11 per FT unit for gross proceeds of up to $1.48-million; and (iii) up to 267,175 Manitoba flow-through units at a price of $1.31 per FT unit for gross proceeds of up to $350,000. Each HD unit shall consist of one common share and one-half of one transferable common share purchase warrant. Each FT unit and MB FT unit shall consist of one flow-through common share and one-half of one transferrable warrant to be issued on a non-flow-through basis. Each warrant shall be exercisable into one additional common share for two years from closing at an exercise price of $1.10 per warrant share. The company has the right to accelerate the expiry date if, at any time, the volume-weighted average price of the common shares on the principal exchange or market on which the common shares trade is equal to or greater than $1.50 for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after the company issues the acceleration notice through a news release, provided that the acceleration notice is issued within 10 business days after the end of the particular 10-day period. The gross proceeds from the sale of FT units will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures as both terms are defined in the Income Tax Act (Canada) related to the Pt. Leamington project, Newfoundland. All qualifying expenditures will be renounced in favour of the subscribers of the flow-through shares, effective Dec. 31, 2025. The net proceeds from the sale of the HD units will be used by the company for working capital and general corporate purposes. Closing of the offering is subject to the acceptance of the TSX Venture Exchange. About Visionary Copper and Gold Mines Inc. Visionary is advancing its portfolio of base- and precious-metal-rich deposits located in established Canadian mining jurisdictions. The focus of the portfolio is highlighted by the 100-per-cent-owned Point Leamington deposit in Newfoundland, located in one of the richest volcanogenic massive sulphide and gold districts in Canada. The company prepared a pit-constrained indicated mineral resource of 5.0 million tonnes grading 2.5 grams per tonne gold equivalent for 402,000 ounces AuEq (145,700 oz gold, 60.0 million pounds copper, 153.5 Mlb zinc, 2.0 million ounces silver and 1.5 Mlb lead), a pit-constrained inferred mineral resource of 13.7 Mt grading 2.24 g/t AuEq for 986,500 oz AuEq (354,800 oz gold, 110.2 Mlb copper, 527.3 Mlb zinc, 6.2 Moz silver and 7.0 Mlb lead) and an out-of-pit inferred mineral resource of 1.7 Mt grading 3.06 g/t AuEq for 168,500 oz AuEq (65,400 oz gold, 13.3 Mlb copper, 102.9 Mlb zinc, 1.4 Moz Ag and 2.6 Mlb lead) (see news release dated Oct. 25, 2021). Additionally, the company is permitting the Rainbow deposit at its rich VMS Pine Bay project located near existing infrastructure in the Flin Flon mining district. The company prepared an indicated mineral resource on the Rainbow deposit of 3.44 Mt grading 3.59 per cent copper equivalent for 272.4 Mlb CuEq (238.3 Mlb Cu, 56.9 Mlb Zn, 37,600 oz Au, 692,800 oz Ag and 2.3 Mlb Pb), an inferred mineral resource on the Rainbow deposit of 1.28 Mt grading 2.95 per cent CuEq containing 83.4 Mlb CuEq (72.1 Mlb Cu, 19.5 Mlb Zn, 11,100 oz Au, 222,200 oz Ag and 800,000 pounds Pb) and an inferred mineral resource at the Pine Bay deposit of 1.0 Mt grading 2.62 per cent Cu containing 58.1 Mlb Cu (see news release dated July 10, 2023). Additionally, the portfolio includes the Nash Creek project located in the VMS rich Bathurst mining district of New Brunswick. A 2018 preliminary economic assessment generates a strong economic return with a pretax internal rate of return of 34.1 per cent (25.2 per cent posttax) and net present value discounted at 8 per cent of $230-million ($128-million posttax) at $1.25 zinc (see news release dated May 14, 2018). We seek Safe Harbor.