Eskay Mining Announces Closing of Non-Brokered Charity Flow-Through Private Placement
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NEWS RELEASE
FOR IMMEDIATE RELEASE: August 29, 2025
Eskay Mining Announces Closing of Non-Brokered Charity Flow-Through Private
Placement
Toronto, August 29, 2025 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK) (OTC
PINK: ESKYF) (Frankfurt: KN7) (WKN: A0YDPM) is pleased to announce that, further to its Press
Release of August 1, 2025, it has closed its non-brokered private placement with the placement of
2,250,000 flow-through units (the “Charity FT Units”) at a price of C$0.56 per Charity FT Unit (the
“Offering”).
Each Charity FT Unit comprises one common share of the Company (each, a “FT Share”) and one-half
of a common share purchase warrant, each of which qualifies as a “flow-through share” within the
meaning of the Income Tax Act (Canada) (the “Tax Act”). Each full warrant (a “Warrant”) entitles the
holder to purchase one common share (a “Warrant Share”) at a price of C$0.65 at any time on or
before August 28, 2027.
The gross proceeds from the sale of Charity FT Units will be used to incur "Canadian exploration
expenses" as defined in subsection 66.1(6) of the Tax Act and "flow through mining expenditures" as
defined in subsection 127(9) of the Tax Act, and for a subscriber who is a qualifying individual under
the Income Tax Act (British Columbia) (the “BC Tax Act ”), qualifies as a “BC flow-through mining
expenditure” as defined in section 4.721(1) of the BC Tax Act (“Qualifying Expenditures ”). The
Qualifying Expenditures will be incurred on or before December 31, 2026, and renounced to the
subscribers with an effective date not later than December 31, 2025, in the aggregate amount of not less
than the total amount of gross proceeds raised from the issue of the Charity FT Units.
Proceeds from the Offering will be expended on the Company’s 100% controlled and consolidated
Eskay Project in the heart of the Golden Triangle, British Columbia.
A finder was paid $54,000 in cash and issued 135,000 finder’s warrants. Each finder’s warrant entitles
the holder to acquire one (1) common share of the Company at a price of $0.40 until August 28, 2027.
The securities issue pursuant to the Offering have a hold period expiring on December 29, 2025.
Mac Balkam, C.E.O. of Eskay commented “We are pleased with the financing support from our
shareholder base demonstrating their enthusiasm for our current exploration program in the Vermillion
and TM Zones. Our field team has initiated a channel sampling program at both zones which along with
extensive samples are geared to generating drill targets. This financing will also allow us to undertake a
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82 Richmond Street East
Toronto, ON M5C 1P1
T: 416 907 4020
W: eskaymining.com
Worldview 3 satellite imagery mapping strategy to enhance the proficiency of drill target selection. We
expect to gather this data in early September.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Charity FT
Units, nor shall there be any sale of the Charity FT Units in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or qualification under the securities laws
of any such jurisdiction. The Charity FT Units being offered will not be, and have not been, registered
under the United States Securities Act of 1933, as amended, and may not be offered or sold within the
United States or to, or for the account or benefit of, a U.S. person.
About Eskay Mining Corp:
Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto,
Ontario. Eskay is an exploration company focused on the exploration and development of precious and base
metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the “Golden
Triangle,” 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area
comprised of 177 claims (52,600 hectares).
All material information on the Company may be found on its website at www.eskaymining.com and on
SEDAR+ at www.sedarplus.com.
For further information, please contact:
Mac Balkam T: 416 907 4020
President & Chief Executive Officer E: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ materially from the statements made. When used
in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”,
“estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such
statements reflect our current views with respect to future events and are subject to risks and uncertainties.
Many factors could cause our actual results to differ materially from the statements made, including those
factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or
more of these risks and uncertainties, such as actual results of current exploration programs, the general
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Toronto, ON M5C 1P1
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W: eskaymining.com
risks associated with the mining industry, the price of gold and other metals, currency and interest rate
fluctuations, increased competition and general economic and market factors, occur or should assumptions
underlying the forward looking statements prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any
obligation to update these forward-looking statements, except as required by law. Shareholders are
cautioned not to put undue reliance on such forward-looking statements.