Volta Metals Announces Private Placement Financing for Proceeds of up to $1,500,000

Toronto, Ontario--(Newsfile Corp. - December 15, 2025) - Volta Metals Ltd. (CSE: VLTA) (FSE: D0W) (OTC Pink: VOLMF) ("Volta" or the "Company") is pleased to announce a non-brokered private placement to raise proceeds of up to $1,500,000 through the issuance of up to 6,521,739 common shares of the Company issued on a "flow-through" basis (the "Flow-Through Shares") at a price of $0.23 per Flow-Through Share (the "Offering"). The Flow-Through Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada). The Company reserves the right to increase the size of the Offering by up to 25%, such that up to an additional 1,630,435 Flow-Through Shares may be issued to raise gross proceeds of up to $1,875,000.

The gross proceeds from the Offering will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through critical mineral mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's Springer and Aki projects in Ontario, on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares with an effective date not later than December 31, 2025.

It is expected that certain directors and officers of the Company (the "Insiders") may participate in the Offering. The participation of Insiders in the Offerings will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company anticipates relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Flow-Through Shares to be acquired by the participating Insiders nor the consideration to be paid by such Insiders is anticipated to exceed 25 percent of the Company's market capitalization.

The Offering is expected to close on or about December 22, 2025, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the acceptance by the CSE. The Company expects to use the proceeds of the Offering to follow up on exploration targets by drilling, prospecting, sampling, and geochemical analyses. The Company may issue finders fees in connection with the Offering of cash commission of up to 6% for proceeds placed by eligible finders and finder warrants of up to 6% of the Flow-Through Shares placed by eligible finders, with each Finder's Warrant exerericable for one common share of the Company at $0.23 for a period of 24 months from the date of issuance.