Metalsource Mining Announces Private Placement to raise up to $4,000,000 with lead order from Eric Sprott of $1,000,000
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VANCOUVER, BRITISH COLUMBIA, Sept. 15, 2025 (GLOBE NEWSWIRE) -- METALSOURCE MINING INC. (the “Company” or “Metalsource”) (CSE: “MSM”) is pleased to announce a non-brokered private placement of up to 20,000,000 units in the capital of the Company (each, a “Unit”) at a price of $0.20 per Unit for aggregate gross proceeds of up to $4,000,000 (the “Offering”).
Eric Sprott will be the lead order on the Offering, subscribing for 5,000,000 Units, totaling $1,000,000.
Each Unit purchased will include one common share and one-half of one transferable common share purchase warrant. Each whole Warrant (a “Warrant”) will entitle the holder to purchase one additional common share for a period of three (3) years at a price of CAD $0.30 per common share.
The Company intends to use the proceeds of the Offering to advance exploration at the Silver Hill and Byrd-Pilot projects in North Carolina, with a primary focus on expanding Silver Hill’s silver potential, to continue work on the Company’s Aruba manganese project in Botswana, and for general working capital. The Company may pay finder’s fees in accordance with the policies of the Canadian Securities Exchange. All securities issuable shall be subject to a hold period of four months and one day from issuance.
“With the signing of the definitive agreement, Metalsource is now well positioned to move forward aggressively. Our immediate focus is Silver Hill — a historic silver mine where previous operators outlined mineralized lenses but never systematically drilled for silver. We now have the opportunity to modernize that work, verify and expand known silver zones, and begin building an updated mineral resource estimate in North Carolina. The financing will allow us to take Silver Hill from a historic curiosity to a modern silver growth story. At the same time, Byrd-Pilot provides us with large-scale gold-copper porphyry potential, giving shareholders exposure to both high-grade silver expansion and district-scale discovery. This financing represents the next step in unlocking the full value of our U.S. portfolio for shareholders,” said Joseph Cullen, CEO.
About Metalsource Mining Inc.
The Company is engaged in acquisition, exploration and development of mineral property assets. The Company’s objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the Aruba Property. The Aruba Property is located in the Kalahari Desert region of Botswana, covering 4,663 square kilometers in an area prospective for platinum group metals, gold, silver, and manganese mineralization.
For more information, please refer to SEDAR+ (www.sedarplus.ca), under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
Joseph Cullen, Chief Executive Officer and Director
For more information please contact:
Mr. Joseph Cullen
Phone: 778-919-8615
Email: jpacullen@gmail.com
Website: https://www.metalsourcemining.com
Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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