Metalex Ventures Ltd. announced a non-brokered private placement of flow through units at a price of CAD 0.06 per flow through unit and non-flow through units at a priced of CAD 0.05 per non flow through unit for aggregate gross proceeds of up to CAD 600,000 on November 22, 2022. Each flow through unit comprised of one flow through share and one-half warrant, each non flow through unit comprised of one non-flow through share and one-half warrant. Each whole warrant issued in connection with either the flow through units or the units entitles the holder to acquire a non-flow through share at a price of CAD 0.08 for a term of eighteen months after closing.

All securities to be issued in the transaction will be subject to a 4 month hold period. The transaction is subject to receipt of all required regulatory and TSX Venture Exchange approvals.