Argyle Closes First Tranche of LIFE Offering For C$500,000

Rhea-AI Summary

Argyle Resources Corp (OTCQB: ARLYF) closed the first tranche of its listed issuer financing exemption (LIFE) offering on October 31, 2025, raising aggregate gross proceeds of C$500,000 by issuing Units at C$0.20 per Unit. Each Unit includes one common share and one warrant exercisable at C$0.27 for 24 months. The Company paid C$16,800 in finder fees and issued 84,000 broker warrants exercisable at C$0.27 for 24 months. Net proceeds are earmarked for legal/accounting, marketing, exploration, and working capital. Units issued under the LIFE exemption are not subject to resale restrictions under applicable securities laws.

Positive

• Gross proceeds of C$500,000
• Units issued at C$0.20 with 24‑month warrants
• Net proceeds allocated to exploration and working capital

Negative

• Finder fees of C$16,800 and 84,000 broker warrants
• Warrants exercisable at C$0.27 may dilute shareholders if exercised
• Securities not registered for sale in the United States

Calgary, Alberta--(Newsfile Corp. - October 31, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced offering of units ("Units"), offered at a price of C$0.20 per Unit, for aggregate gross proceeds of C$500,000 (the "Offering"). Each Unit is comprised of one common share in the authorized share structure of the Company (a "Share") plus one Share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Share at an exercise price of C$0.27 for 24 months.

The Units were issued under the listed issuer financing exemption ("LIFE Exemption") under Part 5A.2 of National Instrument 45-106 - Prospectus Exemptions. The Units are therefore not subject to resale restrictions pursuant to applicable securities laws.

There is an offering document ("Offering Document") related to the Offering that can be accessed under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.argyleresourcescorp.com.

As consideration for the services rendered by certain finders, the Company paid, in aggregate, cash fees of $16,800 and issued 84,000 common share purchase warrants (the "Broker Warrants"), with each Broker Warrant exercisable for one common share of the Company at a price of $0.27 for a period of 24 months.

The net proceeds of the Offering are intended to be used for legal and accounting expenses, marketing and advertising, mineral property exploration activities and expenditures, general working capital purposes and as otherwise described in the Offering Document.

The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Argyle Resources Corp.

Argyle Resources Corp. is a junior mineral exploration company engaged in the business of acquiring, exploring, staking and evaluating natural resource properties in North America. The Company owns a 100% interest in the Pilgrim Islands, Matapédia, Lac Comporté and Saint Gabriel quartzite silica projects in Québec, Canada. The Company also has an option to acquire 100% of the following properties: the Clay Howells Rare Earth Element Project in northern Ontario, Canada and the Frenchvale Graphite Property located in Nova Scotia, Canada. Argyle is engaged in a research partnership with the National Institute of Scientific Research (INRS), a high-level research and training institute funded by the Québec government to conduct exploration programs on the Company's silica projects.

For all other inquiries:
Email: info@argylresourcescorp.com
Phone: (825) 724-0033
Website: www.argyleresourcescorp.com

Forward-Looking Statements

All statements included in this press release that address activities, events or developments that Argyle expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements may involve, but are not limited to, statements with respect to the exploration and development of the Company's mineral properties and the use of proceeds from the Offering. These forward-looking statements involve numerous assumptions made by Argyle based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond Argyle's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, Argyle does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

Neither the Canadian Securities Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release. Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272720

FAQ

What did Argyle (ARLYF) announce on October 31, 2025?

Argyle closed the first tranche of a LIFE offering raising C$500,000 through Units at C$0.20 each.

What is included in each Argyle Unit and the warrant terms (ARLYF)?

Each Unit contains one share plus one warrant exercisable at C$0.27 for 24 months.

How will Argyle (ARLYF) use the net proceeds from the offering?

Proceeds are intended for legal and accounting, marketing, mineral exploration, and general working capital.

What fees and broker compensation did Argyle (ARLYF) pay for the tranche?

The company paid finder cash fees of C$16,800 and issued 84,000 broker warrants exercisable at C$0.27.

Are the Units from Argyle (ARLYF) freely tradeable?

Units were issued under the LIFE exemption and are not subject to resale restrictions under applicable Canadian securities laws.

Can U.S. investors buy the Argyle (ARLYF) Units from this offering?

No; the securities are not registered under the U.S. Securities Act and may not be offered or sold in the United States.