Metals Creek increases private placement to $2.5M

Mr. Alexander Stares reports METALS CREEK RESOURCES CORP. INCREASES NON-BROKERED PRIVATE PLACEMENT Further to the June 30, 2026, and July 14, 2026, news releases, Metals Creek Resources Corp. has increased the non-flow-through portion of its non-brokered private placement to $1-million for an aggregate total of flow-through and non-flow-through proceeds of up to $2.5-million. The private placement is expected to close on or before July 31, 2026. The company intends to issue up to 20 million non-flow-through units at a price of five cents per unit for proceeds of up to $1-million. Each NFT unit will consist of one non-flow-through common share and one non-flow-through common share purchase warrant. Each NFT warrant will entitle the holder to purchase one additional non-flow-through common share of the company at an exercise price of eight cents per common share for a period of 24 months from the date of issue. The company also intends to issue up to 27,272,727 flow-through units at a price of 5.5 cents per unit for proceeds of up to $1.5-million. Each FT unit will consist of one flow-through common share and one-half of a non-flow-through common share purchase warrant. Each whole FT warrant will entitle the holder to purchase one additional non-flow-through common share of the company at an exercise price of eight cents per common share for a period of 24 months from the date of issue. The FT shares will entitle the holder to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada). In connection with the private placement, the company may pay finders' fees in cash, securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period. The private placement is subject to approval by the TSX Venture Exchange. The proceeds raised from the financing will be used for exploration on the company's Newfoundland hydrogen/helium projects, its Ogden gold project and general working capital purposes. The proceeds raised from the FT units will be used for exploration on the company's Newfoundland and Ontario properties including its Ogden gold project, and will ensure that such Canadian exploration expenses qualify as a flow-through mining expenditure for purposes of the Income Tax Act (Canada), related to the exploration of the company's exploration projects. About Metals Creek Resources Corp. Metals Creek is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the exchange under the symbol MEK. Metals Creek has earned a 50-per-cent interest in the Ogden gold property including the former Naybob gold mine, located six kilometres south of Timmins, Ont., and has an eight-kilometre strike length of the prolific Porcupine-Destor fault. Metals Creek has also jointly acquired through staking on a 50/50 basis with Benton Resources potential natural white hydrogen projects in Newfoundland. The Smoking Gun prospect was selected after research uncovered highly anomalous helium with values up to 8,900 parts per billion in water collected from a historic drill hole. These licences are located within the Deer Lake basin, which is thought to be a prospective environment for the presence helium and natural (white) hydrogen. At Parson's Pond, research of historical drill logs in two holes 14.2 kilometres apart has observed C1 methane gas levels reaching 72 per cent. The area is underlain by thrust faulted rocks of the Humber Arm supergroup. Drill logs indicate unique sedimentary units composed of shales along with sandstones containing fragments of serpentine and chrome. Of particular interest is the presence of the mineral glauconite, which, combined with these geological indicators, suggests a highly prospective environment for the potential formation of white hydrogen (natural hydrogen) to form within the basin. The presence of such high concentrations of methane alongside hydrogen indicators suggests a potentially active gas system within the basin. In addition, surface areas have been noted to vent gas within the project boundaries.