Blende Silver Announces Private Placement for Proceeds up to $2,500,000 Flow-Through and Non-Flow-Through Units Available
Blende raises $2.5m to fund phase 1 drilling at its Yukon silver-zinc-lead project.
Blende Silver Corp. announced a non-brokered private placement of up to 6,000,000 Flow-Through units and 5,000,000 Non-Flow-Through units. Pricing is set at $0.25 per Flow-Through unit and $0.20 per Non-Flow-Through unit, targeting gross proceeds of up to $2,500,000. Each unit comprises one common share and one common share purchase warrant. Warrants carry a $0.30 exercise price and a two-year term from closing. Proceeds are designated for eligible Canadian exploration expenses on the Blende property (Flow-Through) and general working capital/property advancement (Non-Flow-Through). The transaction requires TSX Venture Exchange approval and includes a standard four-month-and-one-day hold period.
Blende Silver Corp. (BAG) has secured financing to directly fund its phase 1 drilling program, which was announced on August 19, 2026. This initiative targets priority 3D IP chargeability anomalies located in the Central Zone and New Mountain Top. The capital raise supports the company’s stated need to fund multi-season exploration programs following the receipt of the Class 3 Mining Land Use Approval in July 2026.
The offering price of $0.25/$0.20 trades at a premium to the recent market range of $0.17-$0.22. The issuance is dilutive but standard for a junior explorer advancing to the drilling phase. The warrant terms include a $0.30 exercise price, which provides upside leverage but introduces future dilution if exercised.
Blende Silver Corp. is an exploration-stage company focused on its 100%-owned Blende Silver-Zinc-Lead project in north-central Yukon. The property spans 5,345 hectares across 260 quartz claims in the Keno Hill mining district.
Historical NI 43-101 resource estimates from March 2021, which have not been updated for current metal prices, indicate an Indicated resource of 4,643 kt at 4.60% ZnEq and an Inferred resource of 42,243 kt at 4.49% ZnEq.
The project recently secured a Class 3 Quartz Mining Land Use Approval in July 2026, granting a five-year window for advanced exploration activities including diamond drilling, camp facilities, and airstrip operations. Current exploration focuses on testing extensions of the known West and East zones through the Central Zone, guided by a 3D IP survey that identified large untested chargeability anomalies.