TT) ( FSE: O4N) is pleased to announce that it has closed the first tranche (“ Tranche 1 ”) of its previously announced non-brokered private placement financing (the “ Offering”), for aggregate gross proceeds of C$9,119,309.40.
TSX-V: TT Announces Closing of Tranche 1 for $9.09MM
October 21, 2025, Vancouver, BC - Total Metals Corp. (“Total Metals” or the “Company”) (TSX-V:
TT) ( FSE: O4N) is pleased to announce that it has closed the first tranche (“ Tranche 1 ”) of its
previously announced non-brokered private placement financing (the “ Offering”), for aggregate
gross proceeds of C$9,119,309.40.
Under Tranche 1 of the Offering, the Company issued an aggregate of 15,198,849 units (each, a
“Unit”) at a price of C$0.60 per Unit. Each Unit consists of one (1) common share in the capital of
the Company (a “ Common Share”); and one (1) common share purchase warrant (a “ Warrant”),
each entitling the holder to acquire one additional Common Share (a “ Warrant Share ”) at an
exercise price of C$0.90 per Warrant Share for a period of 36 months following the date of issuance.
The Units, Common Shares, Warrants and Warrant Shares are subject to a statutory hold period of
four months and one day from the date of issuance, in accordance with applicable Canadian
securities laws and TSX Venture Exchange (the “Exchange”) policies.
The net proceeds of Tranche 1 are expected to be used to advance exploration and development
activities on the Electrolode Project, acquisition costs of the High Lake and West Hawk Lake gold
projects; and for general working capital and corporate purposes.
In connection with Tranche 1, the Company paid a cash finder’s fees totaling C$573,226.75 and
issued 945,378 non-transferable finder warrants (each, a “ Finder Warrant ”) to certain eligible
arm’s-length finders who introduced subscribers to the Offering. Each Finder Warrant entitles the
holder to purchase one Common Share (a “Finder Share”) at a price of C$0.60 per Finder Share for
a period of 36 months from the date of issuance.
About Total Metals Corp.
Total Metals Corp. is focused on the acquisition, exploration and development of mineral properties
in the prolific Red Lake mining district of Northern Ontario, Canada. The company owns 100% of the
Electrolode Project covering 3,000 contiguous hectares, which has had substantial historical drilling
and recent modern airborne geophysics. The Electrolode Project targets high-potential mineral
resources in three favorable geologic trends, located near major mines in the Red Lake Gold camp
and is strategically located between Kinross Gold’s Great Bear Project and First Mining Gold’s
Springpole Project. The Electrolode project is fully permitted for exploration drilling and hosts 10
historic mineralized zones with significant expansion potential plus new, untested targets ready for
further exploration.
www.totalmetalscorp.com
Qualified Person
David Burga, P. Geo., Independent Director of the Company, is a Qualified Person for Total Metals
as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects . Mr.
Burga has reviewed and approved the scientific and technical information in this press release.
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in its
policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
Tyler Thorburn
President and Chief Executive Officer
(416) 873-7662
Forward-Looking Information
This press release includes “forward-looking information” that is subject to assumptions, risks and
uncertainties, many of which are beyond the control of the Company. Statements in this news
release which are not purely historical are forward looking. Although the Company believes that any
forward-looking statements in this news release are reasonable, there can be no assurance that any
such forward-looking statements will prove to be accurate. The Company cautions readers that all
forward-looking statements, are based on assumptions none of which can be assured and are
subject to certain risks and uncertainties that could cause actual events or results to differ materially
from those indicated in the forward-looking statements. Such forward-looking statements represent
management’s best judgment based on information currently available. Readers are advised to rely
on their own evaluation of such risks and uncertainties and should not place undue reliance on
forward-looking statements.
The forward-looking statements and information contained in this news release are made as of the
date hereof and no undertaking is given to update publicly or revise any forward-looking statements
or information, whether as a result of new information, future events or otherwise, unless so required
by applicable securities laws or the Exchange. The forward-looking statements or information
contained in this news release are expressly qualified by this cautionary statement.