Lodestar Metals Closes First Tranche of Financing

Core Points - Lodestar Metals Corp. has closed the first tranche of its non-brokered private placement financing, issuing 14,982,068 units at a price of $0.075 per unit, resulting in gross proceeds of $1,123,655.10 [1] - Each unit consists of one common share and one-half of a share purchase warrant, with the warrants allowing the purchase of additional shares at $0.12 for two years [2] - The proceeds from the offering will be allocated for exploration and drilling on the Goldrun Project in Nevada, as well as for working capital [4] Financial Details - The first tranche raised a total of $1,123,655.10 through the issuance of 14,982,068 units at $0.075 each [1] - A cash fee of $15,939.15 was paid to finders, along with the issuance of 212,522 Finder's Warrants, which are exercisable at $0.12 for two years [3] Project Focus - Lodestar Metals is focused on advancing the Goldrun Project in Nevada, which is strategically located on a major Carlin-style gold trend and near significant gold deposits [6] - The company's strategy emphasizes capital allocation towards high-value targets and rapid development of known mineralization to build a compliant gold resource [6]