Blast Resources Announces LIFE Offering

CSE: BLST

Blast Resources Announces LIFE Offering

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE

UNITED STATES

January 16, 2025

Vancouver, British Columbia ‐ Blast Resources Inc. (“ Blast” or the “ Company”) (CSE: BLST) is

pleased to announce a non-brokered private placement LIFE offering (the “Offering”) for total

gross proceeds of a minimum of $600,000 and up to a maximum of $675,000, consisting of a

minimum of 4,000,000 units of the Company (each a "Unit") and up to a maximum of 4,500,000

Units at a price of $0.15 per Unit.

Each Unit will be comprised of one common share and one-half of one transferrable common

share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to

acquire an additional common share at a price of $0.25 per common share for a period of two

years from the date of issuance, subject to acceleration.

The Warrants will be subject to an acceleration right held by the Company, such that if the

closing price of the Company’s shares is at or exceeds $0.35 for a period of 10 consecutive

trading days, the Company may, at any time after such an occurrence, give written notice (via

news release) to the holders of the Warrants that the Warrants will expire at 5:00 p.m.

(Vancouver time) on the 30th day following the giving of notice unless exercised by the holders

prior to such date. Upon receipt of such notice, t he holders of the Warrants will have 30 days

to exercise their Warrants and any Warrants that remain unexercised will expire.

In connection with the Offering, the Company may pay cash finder's fees of up to 10% of the

gross proceeds raised from the Offering.

The proceeds raised from the Offering are expected to be used for exploration expenditures on

the Company’s Wales Lake Project and working capital and general corporate purposes

including marketing and investor relations services.

The Units will be offered by way of the listed issuer financing exemption under Part 5A of

National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) in the provinces of Alberta,

British Columbia and Ontario. Pursuant to NI 45 -106, the securities forming part of the Units

issued to Canadian resident subscribers under the Offering wi ll not be subject to resale

restrictions.

There is an offering document related to this Offering that can be accessed under the

Company’s profile at www.sedarplus.com and at the Company’s web site

www.blastresources.com. Prospective investors should read this offering document before

making an investment decision.

The Offering is expected to close on or about February 7, 2025, or such other date that is within

45 days from January 16, 2025, as the Company may agree . The Offering remains subject to

certain conditions customary for transactions of this nature, including, but not limited to, the

receipt of all necessary approvals, including the approval of the CSE.

About Blast Resources Inc.

Blast is a mineral exploration company trading on the Canadian Securities Exchange. The

Company has an option over a mineral exploration project in Saskatchewan. The project is

located near Highway 955 south of Wales Lake and sits just outside the southwest margin of

the Athabasca Basin.

ON BEHALF OF THE BOARD

Gary Claytens

President and CEO

For further information, please contact:

E-mail: [email protected]

Website: www.blastresources.com

Forward-Looking Statement (Safe Harbor Statement):

This press release contains forward looking statements within the meaning of applicable securities laws. The use of any

of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”,

“potential” and similar expressions are intended to identify forward looking statements. In particular, this press release

contains forward looking statements concerning the Offering, the completion of the Offering, the expected closing date

of the Offering, the payment of the finder’s fees and use of proceeds from the Offering.

Although the Company believes that the expectations and assumptions on which the forward -looking statements are

based are reasonable, undue reliance should not be placed on the forward -looking statements because the Company

cannot give any assurance that t hey will prove correct. Since forward looking statements address future events and

conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those

currently anticipated due to a number of assumptio ns, factors and risks. These assumptions and risks include, but are

not limited to, assumptions and risks associated with mineral exploration generally and results from anticipated and

proposed exploration programs, conditions in the equity financing markets, and assumptions and risks regarding receipt

of regulatory and shareholder approvals

Management has provided the above summary of risks and assumptions related to forward looking statements in this

press release in order to provide readers with a more comprehensive perspective on the Company’s future operations.

The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied

by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by

the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive

from them. These forward-looking statements are made as of the date of this press release, and, other than as required

by applicable securities laws, the Company disclaims any intent or obligation t o update publicly any forward -looking

statements, whether as a result of new information, future events or results or otherwise.

Neither the CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts

responsibility for the adequacy or accuracy of this release.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as

amended, and may not be offered or sold in the United States absent registration or applicable exemption from the

registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor

will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would

be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.