Nord Precious Metals Closes Unit Financings

• Financing Close: Nord Precious Metals Mining Inc. closed two non-brokered private placements totaling approximately $2.45 million in gross proceeds on April 15, 2026.
• Pricing: Units were issued at $0.15 per unit, consisting of one common share and one warrant exercisable at $0.20 for three years.
• Use of Proceeds: Funds are designated for exploration activities at the Castle East Project in Gowganda, Ontario, plus general working capital and administrative costs.
• Finder Fees: The first financing included a finder's fee of $140,000 cash and 933,333 non-transferable warrants (exercisable at $0.15).
• Hold Periods: Securities from the second financing are subject to a four-month and one-day hold period expiring August 16, 2026. The first financing is pending final TSX Venture Exchange approval.

• Expectation vs. Reality: This closing follows the April 9, 2026 announcement targeting $2 million. The company exceeded its target by raising $2.45 million, which is a positive execution metric but does not fundamentally alter the investment thesis.
• Dilution Risk: The financing price of $0.15 is below the recent market close of $0.18 (April 15), indicating a discount to the secondary market. This creates immediate dilution pressure on existing shareholders, particularly given the company's history of frequent financings throughout late 2025 and early 2026.
• Cash Runway: The capital extends working capital for exploration but does not solve long-term funding needs regarding the $3.75 million deferred acquisition payments due over three years starting March 2026.
• Market Reaction: The stock closed at $0.18 on April 15, down from $0.19 on April 14. The market appears to have priced in this financing as routine capital maintenance rather than a transformative event.

• Company Strategy: Acquire high-grade silver-cobalt assets in Ontario's Cobalt-Gowganda district, develop an integrated tailings-to-metal production flow-through system (TTL Laboratories), and leverage existing infrastructure for rapid commercialization.
• Flagship Project: Castle East Property (Gowganda, Ontario).
  • Resource Status: Inferred silver resource of 7.56 million ounces at 8,582 g/t Ag (historical estimate requiring NI 43-101 verification).
  • Tailings Project: Acquisition of four mining leases adds ~2.96 million ounces of historical tailings resources (Indicated, 2011 estimate).
• Processing Infrastructure: TTL Laboratories in Cobalt is Ontario's only permitted high-grade milling facility. A 600 t/d modular gravity plant is acquired for commissioning upon permit receipt.