Astra Exploration Receives $1,025,000 from Early Exercise of Warrants, and Commences Drilling at La Manchuria, Argentina
ASTRA EXPLORATION INC. (TSX-V: ASTR, OTCQB: ATEPF, FSE: S3I)
NEWS RELEASE
Astra Exploration Receives $1,025,000 from Early Exercise of Warrants, and
Commences Drilling at La Manchuria, Argentina
Vancouver, British Columbia – April 22, 2025 – Astra Exploration Inc. (TSX -V: ASTR, OTCQB:
ATEPF, FSE: S3I) (“Astra” or the “Company”) is pleased to announce that it has received proceeds
of approximately C$1,025,000 related to the exercise of 10,250,000 warrants. The warrants were
issued in relation to a private placement completed in November 2024, with an expiry of November 7,
2025. As of the date of this news release, the Company now has 94,670,103 common shares issued
and outstanding.
Astra’s CEO, Brian Miller commented: "The early exercise of warrants is a major boost of confidence
and keeps the company ’s share structure closely held by our foundational long -term investors. The
shares issued in the November 2024 financing, and this warrant exercise are both restricted for trading
until November 2025, which demonstrates the commitment of these investors. The early exercise was
led by Michael Gentile, Mason Resources, and members of the Astra management team. The funds
from this warrant exercise, plus $1,000,000 from the recently -announced non-brokered private
placement offering, would bring the treasury balance to over C$3,000,000.
We are also pleased to announce that d rilling is underway and on-schedule at La Manchuria, where
testing for extensions of near-surface, high-grade gold and silver veins has commenced in previously
undrilled areas. Astra shareholders are at a watershed moment as the Company accelerates through
multiple catalysts while precious metals restore their historic role as hedge against inflation and market
volatility.”
An insider of the Company, Michael Gentile, has increased his shareholdings via the exercise of
3,708,333 warrants. The warrants, acquired through a private placement transaction completed in
November 2024, had an exercise price of $0.10 and were set to expire on November 7, 2025. After
consideration of this transaction, Mr. Gentile owns 17,925,000 shares representing 18.93% of the
Company on a non-diluted basis.
Commencement of Drilling at La Manchuria
Drilling equipment was mobilized to the La Manchuria project during the week of March 31 st, and
drilling commenced early the week of April 6th. The program will consist of approximately 2,500 metres
of DDH drilling in 10-15 holes and is expected to take approximately six weeks to complete.
The goal of the drill program is to expand the near surface , high-grade gold and silver intercepts
defined by historical drilling, into areas which have not been previously drill -tested. This will include
targets along strike with , and parallel to , known high -grade veins and extensions at depth. The
Company plans to update the market with further details regarding drill targets in the coming weeks.
About the Company
Astra Exploration Inc. is a precious metals exploration company based out of Vancouver, BC that is
actively building a portfolio of high-quality projects in some of the most important mining jurisdictions
in Latin America.
The La Manchuria gold-silver project in Santa Cruz, Argentina, over which Astra has an option to
acquire 90% interest, is a high-grade gold and silver low sulphidation epithermal (LSE) deposit located
in the prolific Deseado Massif which hosts multiple world-class LSE precious metals deposits including
Cerro Vanguardia and Cerro Negro.Santa Cruz, Argentina.
The 100% owned Pampa Paciencia gold and silver project in northern Chile is located in the
Paleocene mineral province in proximity to such major operating mines as Spence and Sierra Gorda.
The project shares several important geological similarities to other Paleocene LSE gold -silver
deposits including Faride and El Peñón.
The 100% owned Cerro Bayo project in northern Chile is located in the Maricunga belt
approximately 20 km from the Refugio Mine. The project hosts a high sulphidation epithermal (HSE)
+/- porphyry gold system with similarities to the Salares Norte deposit to the north in the same belt.
The Maricunga belt is one of the most endowed regions in the world for gold and copper deposits.
Qualified Person
The technical data and information as disclosed in this news release has been reviewed and approved
by Darcy Marud, who is an Independent Director of Astra. Mr. Marud is a Practicing Member of the
Association of Professional Geoscientists of Ontario and is a qualified person as defined under the
terms of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
For further information please contact:
Brian Miller
Chief Executive Officer
Tel. 604.428.0939
Email: [email protected]
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When
or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”,
“forecast”, “may”, “schedule” and similar words or expressions identify forward- looking statements or
information. These forward-looking statements or information may relate to the Company’s business
activities; exploration on the Company’s properties including drilling at the La Manchuria project ;
expected closing and net proceeds of the recently -announced non -brokered private placement
offering; and expected funds in the treasury of the Company . Such statements represent the
Company’s current views with respect to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the Company, are inherently subject
to significant business, economic, competitive, political and social risks, contingencies and
uncertainties. Many factors, both known and unknown, could cause results, performance or
achievements to be materially different from the results, performance or achievements that are or may
be expressed or implied by such forward-looking statements. Such factors include, without limitation:
development of the industry in which the Company operates; risks associated with the conduct of the
Company's business activities; risks relating to reliance on the Company's management team and
outside contractors; currency fluctuations; risks regarding the failure to generate sufficient cash flow
from operations; laws and regulations governing the industry in which the Company operates; the
ability of the communities in which the Company operates to manage and cope with the implications of
COVID-19; the economic and financial implications of COVID -19 to the Company; operating or
technical difficulties; employee relations, labour unrest or unavailability; stock market volatility;
conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the
Company; litigation risk; and other risk factors disclosed in the Company’s public disclosure
documents available on the Company’s profile at www.sedar.com. Readers are cautioned against
attributing undue certainty to forward-looking statements or forward-looking information. Although the
Company has attempted to identify important factors that could cause actual results to differ materially,
there may be other factor s that cause results not to be anticipated, estimated or intended. The
Company does not intend, and does not assume any obligation, to update these forward -looking
statements or information to reflect changes in assumptions or changes in circumstances or any other
events affecting such statements and information other than as required by applicable laws, rules and
regulations.