Scout Minerals Corp. announced a non-brokered private placement of up to 4,615,385 flow through subscription receipts at a price of CAD 0.65 per flow-through subscription receipt for gross proceeds of approximately CAD 3,000,000 or up to 10,000,000 non flow-through subscription receipts at a price of CAD 0.50 per non flow-through subscription receipt for gross proceeds of CAD 5,000,000 on April 13, 2023. Upon satisfaction of the condition, each flow-through subscription receipt will be automatically converted into one unit of the company comprising one common share in the capital of the company that qualifies as a flow-through share and one-half of one flow-through common share purchase warrant that qualifies as a flow-through share, with each flow-through warrant entitling the holder to purchase one common share in the capital of the company at a price of CAD 0.85 per flow-through warrant share for a period of two years after the date of issuance and each non flow-through subscription receipt will be automatically converted into one unit of the company comprising one common share in the capital of the company and one-half of one common share purchase warrant, with each Non flow-through warrant entitling the holder to purchase one common share at a price of CAD 0.75 per non flow-through warrant share for a period of two years after the date of issuance.

Finder's fees may be payable to arm's length parties who introduce subscribers to the concurrent financing, in accordance with the policies of the Canadian Securities Exchange.