J2 Metals Inc. Completes $3.8 Million Upsized Private Placement

Vancouver, British Columbia--(Newsfile Corp. - February 6, 2026) - J2 Metals Inc. (TSXV: JTWO) (FSE: OO1) ("J2" or the "Company") announces that further to its previous press releases, it has closed the second and final tranche of its $3,800,000 non-brokered private placement financing (the "Subscription Receipt Offering"), which was upsized from $2,500,000, at a price of $0.25 per Subscription Receipt (the "Subscription Receipts").

Today's second tranche was comprised of 6,577,800 Subscription Receipts for aggregate gross proceeds of $1,644,450. Yesterday the Company closed the first tranche of the Subscription Receipt Offering for gross proceeds of $2,155,550.

Thomas Lamb, J2's CEO, commented: "This is an excellent result and a great foundation for our Company. Next, we are raising critical minerals flow-through at $0.35 per share to advance our 100%-owned Miniac Project in Quebec's Abitibi Greenstone Belt. We will be moving briskly there to conduct 3D IP and Phase II drilling."

Each Subscription Receipt issued pursuant to the Subscription Receipt Offering will entitle the holder thereof to receive, upon satisfaction of the escrow release conditions that include completion of the Company's previously announced plan of arrangement between the Company and Twenty Mile Metals Inc., and without payment of any additional consideration or further action on the part of the holder, one common share in the capital of the Company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of $0.40 per share at any time for a period of 24 months following the date of conversion of the Subscription Receipts.

The gross proceeds from the sale of the Subscription Receipts will be held in escrow pending satisfaction of the escrow release conditions. If the escrow release conditions are not satisfied, the escrowed funds will be returned to the holders of the Subscription Receipts, together with any accrued interest thereon, and such securities shall be cancelled without any further action by the holders thereof. The Company intends to use the net proceeds of the Subscription Receipt Offering for general corporate purposes.

In connection with the second tranche of the Offering, the Company will pay a finder's fees, pending satisfaction of the escrow release conditions, of $75,985 in cash and 303,940 warrants at a price of $0.40 per share exercisable for a period of 24 months following the date of conversion of the Subscription Receipts.