Metals Creek increases private placement to $2.5M

Metals Creek Resources Corp. has increased the size of its non-brokered private placement from $2 million to $2.5 million. The financing is split into $1 million in non-flow-through (NFT) units at $0.05 per unit and $1.5 million in flow-through (FT) units at $0.055 per unit. Each NFT unit includes one common share and one warrant exercisable at $0.08 for 24 months. Each FT unit includes one common share and one-half of a warrant exercisable at $0.08 for 24 months.

Proceeds are designated for exploration on the Newfoundland hydrogen/helium projects, the Ogden gold project, and general working capital. The transaction is subject to TSX Venture Exchange approval, carries a four-month hold period, and is expected to close on or before July 31, 2026. This release is a direct follow-up to the July 14, 2026 announcement, indicating continued investor demand or an adjustment to meet immediate cash requirements.

Metals Creek Resources Corp. (MEK) announced a financing classified as routine and positive, designed to provide necessary liquidity for ongoing exploration and working capital obligations. This transaction serves as an incremental, expected follow-up to the company’s July 14 announcement.

The offering involves issuing up to 47.27 million new shares and warrants at a price of $0.05 to $0.055 each. This represents significant dilution against the approximately 215.97 million shares currently outstanding.

The company’s Management’s Discussion and Analysis (MD&A) explicitly flagged going-concern uncertainty, citing unrestricted cash of approximately $102,545 against ongoing operational and flow-through spending obligations of $612,614 due by December 31, 2026. While this financing mitigates near-term insolvency risk, it does not resolve the structural funding gap.

No strategic investors or premium valuations are attached to the deal.

Metals Creek Resources Corp. (MEK) is a TSX Venture-listed junior exploration company that currently generates no operating revenue. The company’s flagship asset is the Ogden Gold Project, a 50/50 joint venture with Discovery Silver Corp. with Metals Creek acting as the operator. Located in the Timmins Gold Camp along the Porcupine-Destor Break, the project features an 8km strike length with six identified zones: Naybob North, Naybob South, Naybob West, Porphyry Hill, Thomas Ogden, and Thomas Ogden West.

In Newfoundland, Metals Creek holds six natural white hydrogen and helium exploration properties acquired jointly with Benton Resources. These properties include Smoking Gun, Parson's Pond, Cape St. Gregory, Bond Pond, Deer Lake Basin, Bay St George, and Bay of Islands. The company is engaged in early-stage staking and geological targeting based on historical gas venting and serpentinization indicators.

The company also holds the Flint North Project, an Ontario-based occurrence and showing stage property featuring multiple zones including Bag Lake, Dogpaw, and Flint Lake. Additionally, Metals Creek previously held an 85% interest in the Tillex Copper Project, which it sold to Aruma Resources Ltd. in January 2026 for a staged cash and share consideration plus a 0.5% NSR royalty.