Metalero Closes Oversubscribed Private Placement

Core Viewpoint - Metalero Mining Corp. has successfully completed a non-brokered private placement, raising gross proceeds of $919,501 through the issuance of 7,662,509 units at a price of $0.12 per unit, which will be used to advance exploration at its Benson Project and for general working capital [1][2]. Group 1: Offering Details - The Offering raised a total of $919,501 through the issuance of 7,662,509 units, with each unit priced at $0.12 [1]. - Each unit consists of one common share and one share purchase warrant, with warrants exercisable for two years at prices of $0.25 for the first year and $0.35 for the second year [1]. - Metalero paid $25,862 in cash and issued 215,520 finder's warrants to eligible finders for certain units sold [3]. Group 2: Insider Participation - Insiders of Metalero acquired a total of 2,019,583 units in the Offering, which is considered a related party transaction [4]. - The Company is relying on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, as the fair market value of the subscription does not exceed 25% of the market capitalization [4]. Group 3: Use of Proceeds - Proceeds from the Offering will be allocated to advance exploration at the Benson Project, including follow-up work based on recent soil sampling and geophysical surveys [2]. - Additional funds will be directed towards general working capital [2]. Group 4: Benson Project Overview - The Benson Project is located in central British Columbia and is accessible via Highway 26 and logging roads, facilitating capital-efficient exploration [6]. - The project covers five target areas identified through AI analysis, which revealed high potential anomalies similar to known porphyry deposits [6]. - Historical exploration has identified gold and copper surface geochemical anomalies, with previous drilling intersecting skarn and epithermal gold and silver mineralization [6]. Group 5: Company Background - Metalero Mining Corp. is a Canadian junior exploration company focused on copper and gold projects in North America, with its flagship Benson Project covering 166 square kilometers [7]. - The company also has drill-ready properties in Nevada available for sale or option [7]. - Metalero is part of the Metals Group of Companies, emphasizing technical excellence and strong corporate governance [8].