St. Augustine Announces Private Placement

Rhea-AI Summary

St. Augustine Gold and Copper Limited (TSX: SAU) has announced a non-brokered private placement to raise up to $24.9 million through the issuance of approximately 341 million common shares at $0.073 per share. The proceeds will be used for general corporate purposes, including completing a feasibility study and arranging financing for the company's King-king copper-gold project. The private placement is expected to close in two tranches, with the first closing around June 20, 2025, subject to necessary approvals including from the Toronto Stock Exchange. No insider participation is anticipated in this offering.

Positive

• Significant capital raise of $24.9 million to strengthen company's financial position
• Funds will support completion of feasibility study for King-king copper-gold project
• Strategic financing arrangement with two-tranche structure provides funding flexibility

Negative

• Substantial share dilution with issuance of 341 million new shares
• No insider participation could signal lack of internal confidence
• Share price of $0.073 indicates relatively low valuation

News Market Reaction – RTLGF

+30.00%

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+30.00% News Effect

On the day this news was published, RTLGF gained 30.00%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Singapore, Singapore--(Newsfile Corp. - June 10, 2025) - St. Augustine Gold and Copper Limited (TSX: SAU) ("St. Augustine" or the "Company") is pleased to announce a non-brokered private placement financing of up to 341,038,196 common shares of the Company (the "Shares") at a price of $0.073 per Unit (the "Private Placement") for gross proceeds of up to $24,895,379.

The Company intends to use net proceeds of the Private Placement for general corporate purposes including completion of a feasibility study and organizing financing for the Company's King-king copper-gold project. No insiders are expected to participate.

Closing of the placement is expected to occur in two tranches, with the first tranche closing on or about June 20, 2025, and the same is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

About St. Augustine

St. Augustine (SAU.T) is a TSX-listed mining company focused on the development of the King-king Copper-Gold Project. The Project is one of the largest undeveloped copper-gold deposits in the world and is listed as a top three-priority mining project by the Philippine government.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact included herein are forward looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. While we consider these assumptions to be reasonable based on currently available information, they may prove to be incorrect. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is also subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from the Company's current expectations, including changes in market conditions, governmental or regulatory developments and general economic conditions. Other risks and uncertainties related to the Company are disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 and filed with Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.ca. Forward-looking information contained in this announcement is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should nor rely on this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time except as required by applicable securities law.

For more information:

Lenna Mae Leopoldo
Investor and Public Relations Contact
T: +6382 225 0884
E: lleopoldo@kingkingproject.com

ST. AUGUSTINE CORPORATE
HEADQUARTERS
No.21, Greenwood Lane,
Singapore, 286949

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255036

FAQ

How much money is St. Augustine Gold and Copper (TSX: SAU) raising in its private placement?

St. Augustine is raising up to $24,895,379 through a private placement of 341,038,196 common shares at $0.073 per share.

What will St. Augustine use the private placement proceeds for?

The proceeds will be used for general corporate purposes, including completion of a feasibility study and organizing financing for the King-king copper-gold project.

When is the expected closing date for St. Augustine's private placement?

The private placement is expected to close in two tranches, with the first tranche closing on or about June 20, 2025.

Are any insiders participating in St. Augustine's private placement?

No insiders are expected to participate in the private placement.

What is the price per share for St. Augustine's private placement?

The private placement is priced at $0.073 per share.