Enduro closes $2.73-million first tranche of placement

Mr. Robert Cameron reports ENDURO METALS ANNOUNCES INCREASE TO NON-BROKERED PRIVATE PLACEMENT AND CLOSES FIRST TRANCHE Enduro Metals Corp. has closed the first tranche of the non-brokered private placement announced on July 16, 2025, for total gross proceeds of $2,730,477.43 and has increased the size of the private placement to up to $3.5-million in gross proceeds. The first tranche consisted of the issuance of 1,945,825 flow-through shares at a price of 18.5 cents per FT share and 15,803,332 non-flow-through units at a price of 15 cents per NFT unit. Each FT share qualifies as a flow-through share (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)). Each NFT unit consists of one common share and one-half of one common share purchase warrant of the company. Each warrant will entitle the holder thereof to acquire one common share of the company at a price of 22 cents per warrant share until Aug. 19, 2027. The proceeds from the issue and sale of the NFT units are for general working capital. The proceeds from the issue and sale of the FT shares will be used primarily by the company to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures (as both terms are defined in the Income Tax Act (Canada)) related to the company's exploration and development of the large 688-square-kilometre Newmont Lake project, located in the heart of British Columbia's prolific Golden Triangle. The company will renounce qualifying expenditures with an effective date of no later than Dec. 31, 2025, in an amount of not less than the total amount of the gross proceeds raised from the issuance of the FT units and incur such expenses by Dec. 31, 2026. The company paid finders' fees in the amount of $91,694.99 in cash and 599,741 finders' warrants to arm's-length qualified parties in accordance with exchange policies (Haywood Securities Inc. was paid $9,029.99 and issued 50,741 finder warrants, Leede Financial Inc. was paid $1,665 and issued 9,000 finder warrants, and Mezzo Consulting Services SA was paid $81,000 and issued 540,000 finder warrants). The finders' warrants are non-transferable and exercisable at 18 cents per share until Aug. 19, 2026. All securities issued are subject to a four-month hold period pursuant to securities laws in Canada and, where applicable, the exchange hold period, expiring on Dec. 20, 2025. Robert Cameron, chief executive officer, purchased 215,000 FT shares and 130,000 NFT units, William Slack, president, purchased 400,000 NFT units, and Brandon Macdonald, director, purchased 600,000 NFT units pursuant to the offering. As a result, the issuance of these securities pursuant to the offering is considered a related-party transaction (as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions)). The company relied upon the exemptions from the formal valuation and minority shareholder approval requirements set out in sections 5.5(a) and 5.7(a) of MI 61-101, respectively. The offering is subject to the final acceptance of the TSX Venture Exchange. About Enduro Metals Corp. Enduro Metals is an exploration company focused on its Newmont Lake project, a total 688-square-kilometre property located within the heart of British Columbia's Golden Triangle. Building on prior results, Enduro Metals' geological team has outlined multiple deposit environments of interest across the Newmont Lake project including high-grade epithermal/skarn gold along the McLymont fault, copper-gold alkalic porphyry mineralization at Burgundy and newly discovered copper-gold porphyry mineralization at North Toe/Andrei. We seek Safe Harbor.