Future Mineral Provides Update on $4.5m Financing

TORONTO, May 13, 2026 (GLOBE NEWSWIRE) -- Future Mineral Resources Inc. (“Future Mineral” or the “Company”) (TSX: FMR) is pleased to provide an update on its previously announced non-brokered private placement financing of up to 15 million common shares at a price of $0.30 per share for gross proceeds of up to $4.5m (the “Offering”). The Company previously completed two tranches of the Offering on March 13, 2026, and March 18, 2026, respectively, pursuant to which the Company issued 833,333 of its common shares (“Common Shares”) for gross proceeds of approximately $250,000 (the “Tranches”). For more information about the Offering and Tranches, please see the Company’s press releases dated January 7, 2026, February 2, 2026, March 13, 2026, and March 18, 2026, each of which is available under the Company’s SEDAR+ profile at www.sedarplus.ca.

The Company’s new management (see the Company’s press release dated May 1, 2026) is working towards completing the remaining $4,250,000 portion of the Offering (the “Remaining Offering”), which was not completed by May 7, 2026, the deadline specified in the Toronto Stock Exchange’s (“TSX”) conditional approval letter respecting the Offering.

The Remaining Offering is characterized by the TSX as a new offering; however, it continues to consist of a best efforts non-brokered private placement financing of up to 14,166,666 Common Shares at a price of $0.30 per Common Share for gross proceeds of up to $4,250,000.

Closing of the Remaining Offering is expected to occur in early June 2026. No insiders (as such term is defined in the Securities Act (Ontario)) are expected to participate in the Remaining Offering, and all securities issued in connection therewith will be subject to a statutory hold period of four-months and one day. Completion of the Remaining Offering is subject to a number of conditions, including all approvals from the TSX. Finder’s fees may be paid to eligible finders in accordance with the policies of the TSX consisting of a cash commission equal to up to 7% of the gross proceeds raised under the Remaining Offering. The Company intends to use the net proceeds of the Remaining Offering to satisfy all or a portion of the purchase price payable in connection with a proposed transaction to acquire the remaining 52% of a nickel, zinc, and lead project in Poland that is not already owned by the issuer (the “Transaction”), provided all applicable closing conditions have been satisfied or otherwise duly waived, as well as to fund exploration expenditures and other expenses related to its properties. For certainty, closing of the Remaining Offering is not conditional on completion of the Transaction. For more information about the Transaction, please see the Company’s press release dated February 2, 2026, a copy of which is also available under the Company’s SEDAR+ profile at www.sedarplus.ca.

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