AuMEGA Metals Announces Brokered LIFE Offering of up to C$10 million

Core Viewpoint - AuMEGA Metals Ltd. has announced a best efforts private placement to raise up to C$10,000,000 through the issuance of flow-through shares, charity flow-through shares, and common shares, aimed at advancing its exploration projects in Newfoundland, Canada [1][2][3]. Group 1: Offering Details - The Company plans to issue up to 42,553,191 flow-through shares at C$0.0470 each, 55,147,059 charity flow-through shares at C$0.0544 each, and 125,000,000 common shares at C$0.040 each [1]. - The gross proceeds from the sale of flow-through shares will be used to incur eligible Canadian exploration expenses related to the Company's projects, with a deadline for renouncing these expenditures set for December 31, 2026 [2]. - The net proceeds from the sale of common shares will be allocated for general and administrative expenses and unallocated working capital [3]. Group 2: Use of Proceeds - Proceeds from the LIFE Offering will primarily support the Company's exploration program in Newfoundland and Labrador, including a drill program of up to 15,000 metres targeting high-priority areas identified in the 2025 exploration program [8]. - The exploration efforts will focus on the Cape Ray District, specifically at Isle aux Morts Granite and Bunker Hill, with the aim of advancing both new and existing targets [8][10]. Group 3: Geological Insights - Early results from the Isle aux Morts Granite suggest a potentially fertile intrusive-related gold system, comparable to significant discoveries in the Yukon, with existing resources of 6.2 million tonnes grading an average of 2.25 g/t gold [11][17]. - At Bunker Hill, the 2025 field program has identified multiple gold and base metal corridors with promising geophysical signatures, adjacent to Equinox Gold's Valentine Gold Mine [12]. Group 4: Company Positioning - AuMEGA Metals is positioned as a key player in a new Canadian gold district, holding the largest land position along the Cape Ray-Valentine Shear Zone, which hosts significant gold deposits [13][15]. - The Company benefits from a strong institutional shareholder base and strategic investment from B2Gold, enhancing its potential for significant discoveries [16].