Fidelity Minerals Announces Second Tranche and Final Close of Non-Brokered Private Placement

Fidelity Minerals Corp. announced the closing of the second and final tranche of its non-brokered private placement. The company issued 4,500,000 units at $0.20 per unit, generating approximately $900,000 in gross proceeds. This brings the aggregate financing to 7,660,000 units for approximately $1,532,000, inclusive of the first tranche closed in June 2026.

Net proceeds are designated for advancing the Las Huaquillas exploration and community relations programs in Peru, plus general working capital. Each unit includes one common share and one-half transferable warrant exercisable at $0.30 per share until July 20, 2028. An acceleration clause triggers if the share price hits $0.60 for 10 consecutive days.

Management subscribed to 711,500 units, signaling insider confidence. Finder's fees of $37,800 and 189,000 broker warrants were issued. Securities carry a statutory hold period until November 21, 2026, pending final TSX Venture Exchange approval.

Fidelity Minerals Corp. (FMN) raised $1,532,000 in a transaction designed to address its critical liquidity position. As of April 30, 2026, the company reported just $3,905 in cash and a $913,425 working capital deficit. The proceeds provide immediate runway to fund exploration, community relations, and corporate overhead, effectively mitigating near-term going concern risk.

The transaction was dilutive, issued at $0.20 against a recent market price of $0.24. The discount is standard for private placements and reflects the company's need for capital. Insider participation included 711,500 units, and the completion of the previously announced upsized offering demonstrates management's commitment and ability to execute capital raises in a challenging market.

The news is expected and incremental, following the May 2026 announcement and June extension. It does not introduce new strategic shifts or unexpected upside.

Fidelity Minerals Corp. (FMN) is a pre-revenue junior explorer focused on the Las Huaquillas gold-copper project in northern Peru. The company holds a 44.5% interest in the asset with a right to earn up to 50%. Las Huaquillas is a brownfield project featuring historical underground workings spanning 1.2 km across three levels, along with historical resources of 446,000 oz gold and 5.3 million oz silver.

The primary objective is to confirm underground sampling results and prepare a new NI 43-101 compliant mineral resource estimate, with an initial goal of 1 million oz gold. The project also holds copper upside through two confirmed porphyry systems flanking the Los Socavones epithermal gold zone. In February 2026, the company secured a surface access agreement to build a road to historical mine workings, a critical step for upcoming drilling.