Metalsource Mining Announces Private Placement to raise up to $4,000,000 with lead order from Eric Sprott of $1,000,000

Core Points - Metalsource Mining Inc. announced a non-brokered private placement of up to 20,000,000 units at a price of $0.20 per unit, aiming for gross proceeds of up to $4,000,000 [1] - Eric Sprott will lead the offering by subscribing for 5,000,000 units, totaling $1,000,000 [1] Offering Details - Each unit consists of one common share and one-half of a transferable common share purchase warrant, with each whole warrant allowing the purchase of one additional common share at CAD $0.30 for three years [2] - The proceeds will be used for exploration at the Silver Hill and Byrd-Pilot projects in North Carolina, the Aruba manganese project in Botswana, and for general working capital [3] Strategic Focus - The company aims to modernize exploration at Silver Hill, a historic silver mine, and expand known silver zones to build an updated mineral resource estimate [4] - Byrd-Pilot project offers potential for large-scale gold-copper porphyry discovery, providing shareholders with exposure to both high-grade silver and district-scale opportunities [4] Company Overview - Metalsource Mining Inc. is engaged in the acquisition, exploration, and development of mineral property assets, focusing on precious and base metal properties [5] - The Aruba Property in Botswana covers 4,663 square kilometers and is prospective for platinum group metals, gold, silver, and manganese [5]