Temas Resources Closes $1.5M Private Placement

About this update from Temas Resources Corp.

Globally recognised process development expert strengthens Regenerative Chloride Leaching (RCL) with world-class technical leadership in hydrometallurgy and commercialisation VANCOUVER, BC / ACCESS Newswire / April 24, 2026 / Temas Resources Corp. ("Temas" or the "Company") (ASX:TIO)(CSE:TMAS)(OTCQB:TMASF)(FSE:26P0) is pleased to announce that, further to its news release dated April 15, 2026, the Company has closed its non-brokered private placement for total gross proceeds of approximately CDN $1,500,000 (the "Offering") at a premium price to the current market price of the Company's common shares. The Offering consisted of 8,333,334 flow-through shares of the Company to be issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") at a price of CDN $0.18 per FT Share to a single subscriber and current shareholder, Maple Leaf Critical Minerals 2026 Enhanced Fund. The Maple Leaf Group of Critical Minerals Funds is a current shareholder of Temas Resources and with this offering will own approximately 9.9% of the Company's equity. Commenting on the financing, Tim Fernback, President & CEO of Temas Resources, stated: "We appreciate the ongoing support from Maple Leaf Funds, one of our key institutional investors. This financing, secured at a price above the current market level, positions us to keep building value by advancing our understanding of gallium and scandium at La Blache, while directing most of our resources toward business development and the commercialization of our RCL Metallurgical Platform Technology." The gross proceeds from the Offering will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's exploration programs on its the La Blache and Lac Brule titanium projects in Quebec Canada, including the critical mineral and rare earth element assaying and re-assaying work currently underway at La Blache, on or before December 31, 2027. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2026. The FT Shares issued pursuant to the Offering are subject to a four-month and one day hold period from the date of issuance under applicable Canadia...

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