Metalero Mining (MLO) Closes First Tranche of Private Placement

Rhea-AI Summary

Metalero Mining (OTC: CRTTF) closed the first tranche of a non-brokered private placement on October 22, 2025, raising $200,000 via 952,381 flow-through units at $0.21 per unit. Each unit includes one flow-through share and one warrant exercisable at $0.26 for two years.

Metalero paid $16,000 cash and issued 76,189 finder's warrants (exercise $0.21, two years). Proceeds will fund Fall 2025 exploration at the Benson Project in the Quesnel Trough. All FT shares qualify under the Income Tax Act and BC flow-through rules. Closing is subject to TSX Venture Exchange approvals.

Positive

• First tranche raised $200,000 via flow-through financing
• 952,381 flow-through units issued at $0.21
• Proceeds allocated to Fall 2025 Benson exploration
• FT shares qualify for Canadian and BC flow-through tax treatment

Negative

• Company paid $16,000 in cash finder's fees
• 76,189 non-transferable finder’s warrants issued (dilution risk)
• Warrants exercisable at $0.26 may dilute at low strike

News Market Reaction – CRTTF

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+36.70% News Effect

On the day this news was published, CRTTF gained 36.70%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Edmonton, Alberta--(Newsfile Corp. - October 22, 2025) - Metalero Mining Corp. (TSXV: MLO) (OTC Pink: CRTTF) ("Metalero" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Offering").

The first tranche consisted of 952,381 flow-through units (the "FT Units") at a price of $0.21 per Unit, for total gross proceeds of $200,000. Each Unit consists of one (1) flow-through common share (a "FT Share") and one (1) common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one (1) additional non flow-through common share at a price of $0.26 for two (2) years from the date of issuance.

The proceeds will be used to support the Fall 2025 exploration work at Benson including further sampling and ground geophysics. All securities issued are subject to a hold period until February 22, 2025.

In connection with the sale of these FT Units, Metalero paid a total of $16,000 in cash and issued 76,189 non-transferable finder's warrants ("Finder's Warrants") to eligible finders for certain of the FT Units sold. Each Finder's Warrant entitles the holder to purchase one (1) common share of Metalero at a price of $0.21 per share, for up to two (2) years from the date of issuance.

All FT Shares offered in connection with this Offering qualify as a "flow-through share" within the meaning of the Income Tax Act (Canada) (the "Tax Act"). For subscribers who are qualifying individuals under the Income Tax Act (British Columbia) (the "BC Tax Act"), these expenditures will also qualify as "BC flow-through mining expenditures", as defined in section 4.721(1) of the BC Tax Act

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

For additional information with respect to this Offering, please refer to Metalero's news releases dated September 25, 2025, and October 10, 2025, available for viewing on Metalero's SEDAR+ profile (www.sedarplus.ca).

Benson Project Background

Metalero has signed a binding Letter of Intent ("LOI") to acquire 100% of the Benson Project which is strategically located in the Quesnel Trough, one of Canada's most important mineral belts. The Quesnel Trough is a Triassic/Jurassic-age belt of volcano-sedimentary and intrusive rocks which hosts >360 alkalic copper-gold porphyry occurrences and deposits. At >1,500 km long, the Quesnel Trough runs through the middle of BC stretching from the US to the Yukon Territory. It hosts numerous major mines which produce copper and gold as well as variable amounts of silver and molybdenum while also hosting several types of gold deposits.

High profile and long-lived mines in the Quesnel Trough include Highland Valley, Mt Milligan, New Afton and Kemess which are complemented by recent exploration work including Woodjam, MPD, Kwanika, and the extensive staking by Australian mining giant, the Fortescue Group.

The Benson Project lies close to infrastructure and is traversed by Highway 26 and a vast network of logging roads allowing for ready access to all parts of the Property and capital-efficient exploration. The large land package covers 5 different target areas illuminated by recent Artificial-Intelligence ("AI") work by Geoscience BC (Mitchinson et al., Geoscience BC Report 2022-07). This AI study incorporated a wide variety of historical datasets including geophysics, geology, sampling information, and drilling data (where present) to identify high potential ("porphyry-like") anomalies with similarities to known porphyry deposits elsewhere in the belt. Even the limited historical exploration at Benson has identified numerous gold and copper surface geochemical anomalies while modest, historical drill programs have intersected skarn and epithermal gold and silver mineralization, which are both intrusive-related styles of mineralization and are commonly associated with porphyry systems.

About Metalero Mining Corp.

Metalero Mining Corp. is a Canadian-based junior exploration company focused on copper and gold projects in North America. Its 166 square kilometer, road-accessible Benson Project serves as Metalero's flagship and is host to five prospects containing gold and copper within porphyry-related mineralized systems.

Qualified Person The technical content of this news release pertaining to the Benson Project was reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a non-independent qualified person as defined by National Instrument 43-101.

On behalf of the Board of Directors

"Rob L'Heureux" Rob L'Heureux, Chief Executive Officer and President
Email: robl@metalsgroup.com Telephone: +1.780.916.5482

Metalero is part of the Metals Group of Companies, managed by exploration professionals who stand for technical excellence, robust project selection and strong corporate governance, with a proven ability to identify and capitalize on investment opportunities and deliver shareholder returns.

NEITHER 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 news release may contain certain "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company's exploration plans and results. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements in this press release are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These include, but are not limited to, structure and terms of the Offering, the anticipated closing date of the Offering, the intended use of proceeds of the Offerings, and approval of the Offerings by the TSX-V, risks associated with the mining industry in general, the exploration and development of mineral properties, the Company's ability to obtain necessary financing, and general economic, market or business conditions. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR+ at www.sedarplus.ca. Metalero disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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/271482

FAQ

What did Metalero (CRTTF) announce on October 22, 2025?

Metalero closed the first tranche of a non-brokered private placement, raising $200,000 through 952,381 flow-through units at $0.21 each.

How will Metalero use the $200,000 raised in the CRTTF financing?

Proceeds will fund Fall 2025 exploration at the Benson Project, including sampling and ground geophysics.

What are the warrant terms in Metalero's October 22, 2025 financing?

Each unit includes a warrant exercisable at $0.26 for two years from issuance.

What finder compensation did Metalero pay in the CRTTF placement?

Metalero paid $16,000 cash and issued 76,189 non-transferable finder’s warrants exercisable at $0.21 for two years.

Do Metalero's FT shares from the October 22, 2025 tranche offer tax benefits?

Yes; the FT shares qualify as flow-through shares under the Income Tax Act and qualify as BC flow-through mining expenditures for eligible BC subscribers.