Tectonic Metals Announces Financing of up to $40 Million

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / February 10, 2026 / Tectonic Metals Inc. ("Tectonic" or the "Company") (TSXV:TECT)(OTCQB:TETOF), is pleased to announce that the Company has entered into an agreement with 3L Capital, on behalf of itself, BMO Capital Markets and SCP Resource Finance LP as co-lead agents and joint bookrunners (the "Lead Agents") on behalf of a syndicate of agents (collectively, the "Agents"), in connection with a brokered "best efforts" private placement offering of up to approximately 18,605,000 common shares in the capital of the Company (the "Common Shares") for aggregate gross proceeds to the Company of up to approximately C$40 million at a price of C$2.15 per share (the "Offering").

The Company has agreed to grant the Agents an option to increase the size of the Offering by up to an additional 15% of the Common Shares sold under the Offering, exercisable in whole or in part, at any time and from time to time up to 48 hours prior to the closing of the Offering (the "Agents' Option").

Tony Reda, President and CEO of Tectonic Metals, commented,

"This $40 million financing marks a transformative moment for Tectonic and validates the quality and scale of our Flat Gold Project. Proceeds from this financing position Tectonic to aggressively advance drilling across multiple intrusion targets, follow up on recently announced high-grade drill results, expand known mineralized zones, and continue systematic exploration and de-risking across our 99,000 acre land package. We remain focused on disciplined capital allocation, technical excellence, and creating meaningful long-term value for our shareholders."

The net proceeds of the Offering will be used to advance the Company's Flat Gold Project and for general corporate and working capital purposes.

The Common Shares issuable under the Offering will be offered on a private placement basis to: (i) accredited investors (as defined in National Instrument 45-106 - Prospectus Exemptions) in all provinces and territories of Canada; (ii) investors in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"); and (iii) investors in certain offshore jurisdictions (outside Canada and the United States) on a basis which does not require the qualification or registration of the Common Shares offered in such jurisdictions.