Big Red Mining Corp. Closes Flow-Through Private Placement
Vancouver, BC, December 11, 2024 - Big Red Mining Corp. (CSE: RED) (FSE: K8J) (the “Company” or “Big Red”) announces that, further to its news releases of October 23, 2024 and December 6, 2024, it has closed its flow-through financing of common shares at $0.21 per share, whereby the Company issued a total of 3,605,000 common shares for proceeds of $757,050. The Company is paying a cash finder’s fee of $52,900 to GloRes Securities Inc. and has issued 192,833 finder’s warrants to GloRes Securities Inc. and 59,500 finder’s warrants to Marquest Asset Management Inc. for services provided to the Company as a finder with respect to the private placement subscriptions by the private placement placees. Each finder’s warrant is exercisable into one common share at a price of $0.22 per share on or before June 9, 2026.
The shares issued pursuant to the private placement, and any shares to be issued on the exercise of the finder’s warrants are restricted from trading until April 10, 2025. The proceeds of the private placement will be used for property exploration.
About Big Red Mining Corp.
| Big Red | holds an option to acquire a 100% interest in the Antimony 2.0 Property, which is located |
| approximately 25 kilometres west of Fredericton, New Brunswick, and approximately 15 kilometres north- | |
| northeast of the historic Lake George antimony mine. The Lake George antimony mine operated for | |
| various periods from the 1860s to 1998 and produced as much as 4 per cent of the world's demand of | |
| antimony from 1970 through 1992. The Antimony 2.0 Property comprises over 35 square kilometres of | |
| relatively unexplored ground with excellent access via provincial and logging roads, and hydro power. | |
| Antimony has been detected at highly anomalous levels in soil samples collected on the Antimony 2.0 | |
| Property by the optionor. |
| Big Red also | holds an option to acquire a 100% interest in the Dobie Lake Copper Project (the “Dobie Lake | |
| Property”), which is | located approximately 100 km from Sault Ste. Marie, Ontario. The Dobie Lake |
Property surrounds and covers extensions of the past producing Jentina Mine and comprises 131 claims totaling 6,500 acres (26 square kilometers).
| Big Red’s management team possess extensive experience in financing, exploration, development and | |
| mining. | Big Red intends to conduct exploration campaigns on each of its optioned properties with a goal |
of finding one or more minable resources.
WWW.BIGREDMINING.COM
On Behalf of the Board of Directors Jim Atkinson, CEO and President
For further information please contact:
Anthony Simone, President, Simone Capital Inc.
416-881-5154, [email protected]