Not for distribution to United States newswire services or for dissemination in the United States
Toronto, Ontario – January 5, 2026 – Nine Mile Metals Ltd. (CSE: NINE) (OTC Pink: VMSXF) (FSE: KQ9) (“Nine Mile” or the “Company”) is pleased to announce a private placement of up to 21,052,632 units (the “Units”) at a price of $0.19 per Unit for aggregate gross proceeds of up to $4,000,000 (the “Offering”).
Each Unit is comprised of one (1) common share of the Company (a “Common Share”) and one (1) common share purchase warrant of the Company (a “Warrant”), with each Warrant exercisable into one (1) Common Share at a price of $0.30 for a period of two (2) years, subject to the acceleration provision disclosed herein.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45- 106 – Prospectus Exemptions (“NI 45-106”), the Units will be offered for sale to purchasers resident in all provinces of Canada, other than Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer Financing Exemption”). The Units issued to Canadian resident subscribers under the Listed Issuer Financing Exemption, and the Common Shares and Warrants underlying the Units, will not be subject to a hold period pursuant to applicable Canadian securities laws.
The Offering is expected to close on or about January 13, 2026 (the “Closing Date”), or such other date as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals.
The Company may pay finder’s fees in connection with the Offering comprised of cash equal to 8% of the gross proceeds of the Offering and finder warrants (the “Finders Warrants”) equal to 8% of the number of Units issued under the Offering. Each Finders Warrant will be exercisable for one (1) additional Unit at a price of $0.19 for a period of two (2) years. Each Unit is comprised of one (1) Common Share and one (1) Warrant. Each Warrant entitles the holder thereof to acquire one (1) Common Share at a price of $0.30 for a period of two (2) years. The Finders Warrants will be subject to a statutory hold period in Canada of four (4) months and one (1) day after the date of issuance.
Following the Closing Date, if the daily volume-weighted average trading price of the Common Shares on the CSE equals or exceeds $0.50 at the close of any trading day for ten (10) consecutive trading days, the Company may, at its discretion, accelerate the expiry date of the Warrants by providing not less than thirty (30) days’ notice to Warrant holders via press release.
The Company intends to use the proceeds of the Offering for (i) exploration activities and related expenses on its critical minerals projects in the Bathurst Mining Camp; and (ii) general and administrative obligations.
There is an offering document (the “Offering Document”) related to the Offering and the use by the Company of the Listed Issuer Financing Exemption that can be accessed under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at https://ninemilemetals.com/. Prospective investors should read this Offering Document before making an investment decision.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Nine Mile Metals Ltd.:
Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project; California Lake VMS Project; and the Canoe Landing Lake (East – West) Project and the Wedge VMS Project. The Company is focused on exploration of Minerals for Technology (MFT), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.
ON BEHALF OF NINE MILE METALS LTD.
“Patrick J. Cruickshank, MBA”
CEO and Director
T: 506-804-6117
E: [email protected]
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) our Geophysics Program will turn its focus next to the Nine Mile Brook Project and our Eastern Portfolio, (b) both Plates A and C are large, massive, strong conductors, having both the length and depth parameters for a potentially large, mineralized body consistent with example deposits throughout the BMC, and (c) we look forward to announcing our Phase 2 Advanced Geophysics results, including full interpretations and high priority targets for our Western Portfolio. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
