1844 Announces a Non-Brokered Private Placement to Raise up to $1 Million

1844 Resources Inc. (EFF) announced a non-brokered private placement to raise up to $1,000,000 CAD. The transaction is split into $500,000 in Hard Dollar Units at $0.03 per unit and $500,000 in Flow-Through Units at $0.035 per unit. Each unit includes one common share and one-half of a warrant exercisable at $0.05 per share for 24 months.

Proceeds from the offering will fund general working capital and specifically a ~3,000-metre diamond drilling program on the SV2 Project in Québec. The transaction is subject to TSX Venture Exchange approval and includes exemptions for existing shareholders and insiders. Closing is expected around July 31, 2026.

The financing follows a series of recent developments for the company:

• October 2025: Acquired 50% interest in the Vallières JV from SOQUEM and secured initial drilling permits for the SV2 project.
• November 2025 - February 2026: Announced and closed a $500k financing round to fund early-stage work and claim maintenance.
• April 2026: Reiterated permit status, defined priority drill targets following airborne geophysical surveys, and appointed Explo-Logik as operator.
• May 2026: Outlined the 2026 summer exploration program targeting the Sullipek-East alteration system and historical core relogging.
• July 2026: The current $1M financing directly funds the previously outlined 3,000m drilling campaign, demonstrating execution of the stated roadmap.

1844 Resources Inc. (EFF) has announced a financing round that serves as a direct follow-up to its previously announced 2026 exploration program and permit acquisitions. This capital raise is routine and necessary to execute the planned drilling campaign and maintain corporate operations. The dilutive nature of the transaction is standard for junior explorers funding early-stage projects, and the market likely priced in the need for additional capital given the company's historical cash burn and exploration timeline.

The use of proceeds aligns precisely with management's stated roadmap to advance the SV2 copper system. The news provides operational continuity but does not introduce new geological discoveries, strategic shifts, or material changes to the company's risk profile. No unexpected surprises or material deviations from prior guidance are present.

1844 Resources Inc. (EFF) is a junior copper explorer focused on Québec’s Gaspé copper belt. Its flagship asset is the Vortex/Sullipek Project, which covers approximately 68 km² across 130 claims on the Gaspé Peninsula. The project is situated adjacent to Osisko Metals’ advanced-stage Gaspé Copper Mine. Additionally, the company holds a 50/50 joint venture with Glencore on the adjoining Vallières property.

Historical NI 43-101 inferred resources on the Sullipek property total 2.24 Mt at 1.09% Cu. The company has recently secured all required drilling permits for the first time in over a decade, enabling a modern exploration program. Geological targets include porphyry- and skarn-style copper mineralization, defined by historical drilling and recent airborne geophysical surveys. The Vallières property, acquired from SOQUEM, carries a 1% Net Smelter Return (NSR) royalty retained by SOQUEM.