Meryllion Resources Closes Second Tranche of Private Placement

Rhea-AI Summary

Meryllion Resources (OTC:MYRLF) closed the second tranche of a non‑brokered private placement on January 12, 2026, issuing 5,875,000 common shares at C$0.05 each for gross proceeds of C$293,750. Combined with the first tranche (Dec 23, 2015), total gross proceeds raised under the placement are C$575,750. Securities are subject to a statutory hold period of four months and one day and the placement is subject to final acceptance by the Canadian Securities Exchange. Proceeds will fund exploration and working capital, including an imminent drilling campaign at the company’s ionic adsorption clay hosted rare earths project in northeastern Tasmania. Insiders subscribed for an aggregate of C$200,000, a related‑party participation exempt from formal valuation and minority approval under MI 61‑101.

Positive

• Total gross proceeds raised C$575,750
• Second tranche issued 5,875,000 shares at C$0.05
• Proceeds earmarked for exploration and working capital, enabling a planned drilling campaign in Tasmania

Negative

• Insiders subscribed for C$200,000, creating a related‑party transaction
• Financing remains subject to final acceptance by the Canadian Securities Exchange
• Issued securities subject to a 4 months + 1 day hold period

Vancouver, British Columbia--(Newsfile Corp. - January 12, 2026) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Corporation") is pleased to announce that it has closed a second tranche (the "Second Tranche") of its previously announced non-brokered private placement (the "Private Placement"). Pursuant to this Second Tranche, the Corporation issued a total of 5,875,000 common shares in the capital stock of the Corporation (the "Common Shares") at a price of $0.05 per Common Share for gross proceeds of $293,750. Together with the first tranche which closed on December 23, 2015, the Corporation has raised total gross proceeds of $575,750 pursuant to the Private Placement.

The Private Placement is subject to final acceptance of the Canadian Securities Exchange (the "CSE"). All securities issued pursuant to the Private Placement are subject to a hold period of four months and one day from the date of issuance.

The proceeds from the Private Placement will be used by Meryllion to fund exploration activities and for working capital purposes.

Meryllion CEO, Richard Revelins, commented: "We thank our existing shareholders for their ongoing support and participation in this fundraising. We also welcome the participation from new and highly experienced mining investors who have joined the company as new shareholders. Meryllion will shortly be commencing a drilling campaign at its ionic adsorption clay hosted rare earths project, located in northeastern Tasmania. We are highly encouraged by the excellent recent drilling and recovery results announced by our neighbours, ABX Resources. With the growing world focus on rare earth elements and critical metals we are looking forward to getting into the field and commencing drilling."

Certain insiders of the Corporation participated in the Second Tranche for an aggregate of $200,000. The issuance of Common Shares to insiders constitutes a related-party transaction within the meaning of Multi-Lateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Pursuant to Sections 5.5(a) and 5.7(1)(a) of MI 61-101, the Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval as the fair market value of the insiders' participation in the Second Tranche is below 25% of the Corporation's market capitalization for purposes of MI 61-101.

About Meryllion Resources Corporation:

Meryllion is an exploration stage company listed on the CSE. The Company recently entered into a lease and option agreement in respect of the Makenzie gold/silver/antimony project located 44 kms south southwest of Austin, Nevada in the Toiyabe Range of central Nevada. Makenzie is one of the largest known untested gold, silver and antimony anomalies in the state of Nevada.

Meryllion also has the rights to acquire up to a 100% interest in the Westbury and Tasmanian Strategic Green Metals ionic adsorption clay (IAC) hosted rare earth elements (REE) projects located in northeast Tasmania, Australia with a total tenement area of approximately 800 kms². Meryllion's IAC REE projects are situated along strike, and/or adjacent to, discoveries by ABx Group Limited. ABx has reported that Tb (Terbium) and Dy (Dysprosium) concentrations in all of ABx's rare earths resources are the highest of any ionic adsorption clay deposit in Australia and are amongst the highest globally (refer ABx ASX announcement dated 5 May 2025).

For further information, please contact:

Mr. Richard Revelins
Director and Chief Executive Officer
Meryllion Resources Corporation

+1-310-405-4475
rrevelins@peregrinecorporate.com

Forward-Looking Statements:

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280016

FAQ

How much did Meryllion Resources (MYRLF) raise in the second tranche of the private placement on January 12, 2026?

The second tranche raised C$293,750 from issuance of 5,875,000 shares at C$0.05 each.

What are the total proceeds Meryllion (MYRLF) has raised under this private placement?

Combined with the first tranche, total gross proceeds raised are C$575,750.

What will Meryllion (MYRLF) use the private placement proceeds for?

Proceeds will be used to fund exploration activities and for working capital, including a planned drilling campaign in northeastern Tasmania.

Did insiders participate in Meryllion’s (MYRLF) private placement and is that material?

Yes; insiders subscribed for an aggregate of C$200,000, a related‑party participation exempt from formal valuation and minority approval under MI 61‑101.

Are the shares issued to investors in Meryllion’s (MYRLF) placement immediately tradable?

No; all securities issued are subject to a statutory hold period of four months and one day from issuance.

Is Meryllion’s (MYRLF) private placement final and fully closed?

The company closed the second tranche but the private placement remains subject to final acceptance by the Canadian Securities Exchange.