Gunpoint Exploration Ltd. announced a non-brokered private placement of 3,000,000 units at CAD 0.50 per unit for gross proceeds of CAD 1,500,000 on January 27, 2022. Each unit will consist of one common share and one-half of one common share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share at the price of CAD 0.75 for a period of 24 months from closing.

The transaction is subject to TSX Venture Exchange approval. The Offering is expected to close on or about February 15, 2022, or such later date as may be determined by the Company. The securities issued pursuant to the transaction will be subject to a four month plus one day hold period from the date of issuance.

Certain insiders will participate in the transaction.