VR Amends Brokered Private Placement Led by Centurion One Capital, amends Consolidation, and Continues Planning towards Exploration on its New Boston and Bonita Porphyry Projects in Nevada in 2026

The news release dated January 7, 2026, announces a significant down-sizing and restructuring of the company’s previously announced financing and corporate actions. VR Resources has amended its brokered private placement, now aiming to raise only $500,000 CAD (down from the $1,500,000 CAD target announced in October 2025). The financing consists of 3,125,000 units at $0.16 per unit (post-consolidation), with each unit containing a share and a warrant exercisable at $0.20 for 36 months. Crucially, the company has doubled its planned share consolidation ratio from 5:1 to 10:1, effective January 15, 2026. Management also signaled a shift in exploration focus toward its Nevada porphyry projects (New Boston and Bonita) for the 2026 season.

The impact of this news is negative and reflects a company in a defensive posture. - Failure to Raise Capital: The reduction of the financing goal by 66% (from $1.5M to $500k) indicates a lack of investor appetite and an inability for the lead agent, Centurion One Capital, to find sufficient takers even at near-bottom prices. - Increased Dilution and Consolidation: Moving from a 5:1 to a 10:1 consolidation is a desperate move to keep the share price above "sub-penny" levels. This suggests the market price was drifting toward $0.005 pre-consolidation, or that the previous 5:1 target was insufficient to clean up the cap table. - Cash Runway: With only $169,972 in cash as of September 30, 2025, and a consistent burn rate for salaries and administrative costs, the $500,000 raise is a "survival" financing rather than an "exploration" financing. It is unlikely to fund a meaningful drill program in Nevada after paying for corporate overhead and the $40,000 finder's fee. - Project Pivot: The focus shift to Nevada follows a year of underwhelming results at the Silverback and Empire projects in Ontario, which failed to yield significant grades (reporting in ppb rather than g/t or %).

VR Resources is a junior explorer focused on copper-gold and PGE systems. Its focus has recently shifted from the Silverback and Empire projects in Ontario to the New Boston and Bonita projects in Nevada. - New Boston (Nevada): A tungsten-molybdenum-copper-silver porphyry project. This is now being messaged as the primary focus for 2026. - Silverback (Ontario): Recent drilling (2025) showed extensive shearing and alteration but failed to deliver economic intercepts, with gold results generally in the 65-160 ppb range.