AuMEGA Metals Closes the First Tranche of Private Placement Financing - Seite 2

The proceeds from the Financing will be used primarily to advance the Company's exploration program in Newfoundland and Labrador, which is expected to include the Company's largest drill program in the last three years of up to 20,000 metres with an aim to grow the existing Mineral Resource and discovery at the highly prospective Bunker Hill Project. Additionally, the Company will continue to invest in early-stage exploration activities to further define and advance new and existing targets at Hermitage and Malachite. Finally, proceeds from the Financing will also be used for working capital and general corporate purposes.

All securities will be subject to a hold period in Canada of four months plus a day from the date of issuance and rules on the resale of the securities in Canada will apply in accordance with applicable Canadian securities laws. The hold period for the New Shares sold in the Tranche One Placement ends on March 1, 2025. Securities issued to non-Canadian investors for trading on ASX will be freely tradeable.

AuMEGA paid aggregate finders' and lead manager fees of approximately C$555,000 to certain finders and to the Australian lead manager in connection with the Tranche One Placement.

The Tranche One and Tranche Two Placements remain subject to certain conditions including, but not limited to, the receipt of final approval from the TSXV. Additionally, the Tranche Two Placement is subject to certain conditions including, but not limited to, receipt of shareholder approval under ASX Listing Rules 7.1 and 10.11 (in relation to the director participation).

Tranche Two Placement Timelines

The timetable for the Tranche Two Placement is captured by the table below. The timetable remains subject to change at the Company's discretion, subject to compliance with applicable laws and both the TSXV and ASX listing rules.

Key Events	Date
	Canada	Australia
Notice of Meeting	1 November 2024	4 November 2024
Record Date	4 November 2024	Not applicable
Dispatch of NoM Materials	5 November 2025	5 November 2024
Shareholder Meeting to Approve Tranche Two	9:00pm (EST) 3 December	10:00am (AWST) 4 December
Closure of Tranche Two	9 December	10 December