Coyote Copper Announces Closing of the First Tranche of Its Oversubscribed Financing

About this update from Coyote Copper Mines Inc.

Toronto, Ontario--(Newsfile Corp. - June 2, 2026) - Coyote Copper Mines Inc. (TSXV: CCMM) ("CCMM" or the "Corporation") announces that further to its news releases dated May 13, 2026 and May 25, 2026, it has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement financing of up to 28,000,000 Units to be issued at a price of CAD$0.25 per Unit with each Unit consisting of one (1) fully-paid Common Share (a "Common Share") and one half (½) Common Share purchase warrant (a "Half Warrant") in the capital of the Corporation, for aggregate gross proceeds of up to $7,000,000 to be used for exploration and general corporate purposes (the "Offering"). Two Half Warrants will entitle the holder thereof to purchase one common share of the Corporation. Each Warrant will expire thirty six (36) months from the date of issue and will entitle the holder thereof to purchase one Common Share at a price of CAD$0.50 per Warrant Share within 36 months from the date of issue. An aggregate of 20,956,830 Units was sold under the First Tranche for total gross proceeds of C$5,239,207.50 In connection with closing of the First Tranche, the Company paid aggregate finder's fees consisting of (i) C$306,584.53 (the "Cash Consideration") and up to (ii) 1,466,978 compensation warrants (the "Compensation Warrants") to eligible finders. Each Compensation warrant entitles the holder to acquire one Warrant Share at a price of C$0.50 per Warrant Share for a period of 36 months from the date of issuance of the Compensation Warrant. The closing of the First Tranche is subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange. All securities issued and issuable pursuant to the First Tranche of the Offering are subject to a four-month plus one day hold period commencing on the date of issuance. The remaining tranche(s) of the Offering is anticipated to be completed on or around June 15, 2026. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United S...

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